Study On Equity Restructuring Of Real Estate Enterprises

The entity and virtual economy suffer comparatively in the global financial crisis. The real estate industry that belongs to entity economy and plays as one of the key industries in the domestic economy faces very high pressure than that used to be:one is the lack of capital;the other is the acquisition of lands for more concrete buildings. The small-sized and medium-sized real estate companies can not manipulate its land reserve because of the shortage of cash inflow while,on the other hand,the big real estate companies frowns over the difficulties in the acquisition of proper land for developing.The equity restructuring between the real estate companies is a good way to get the manipulation right for construction land and relieve the pressure of capital shortage and land allocation,thus reach a win-win situation for the whole real estate companies.The paper firstly generalizes the literatures at home and abroad of the motivation theory and performance theory on asset restructuring and defines the subjective concepts;then it introduces the development of real estate industry and the temporary situation of land trade market.This paper also researches into a series of subjects in equity restructuring such as the law and regulation,taxation,etc.In the end,the paper uses the motivation theory to analyze the case of re-organization between real estate companies.This paper can be considered as a reference for real estate companies who want to adopt the equity restructuring to acquire the use right of construcion land.It also has theoretical and practical meanings for government to perfect the law and regulation and standardize the real estate market in order to integrate the real estate industry.