China's Listed Real Estate Enterprise's Core Competitiveness Identification And Evaluation

The competitive power of enterprises provides the utmost guarantee for the sustainable development of enterprises. Therefore, how to cultivate a distinctive competitive power, I mean the core competitive power, will become the key for the growth of enterprises. The primary characteristic of the market economy is the competition. As the most determinate factor for the position and contribution of enterprises in the market competition, the low requirement of qualification in the early stage of development has gave birth to the current reality that abilities of real estate development enterprises are of various degree. What is more, the fact that real estate development enterprises in our country are closely subjected to the macroscopic readjustment and control also contributed to the vulnerablility of our real estate development enterprise. With the increasing completion of our national land policies and real estate market, the difference in real estate enterprise's competitive power will definitely become more apparent. Alarmed by American financial crisis, we have to pay more attention to the development of real estate economy in our country. As one of the backbone industries in China, the development of real estate development enterprises is directly linked to the development of national economy. Accordingly, the question of how to develop the core competitive power of real estate development enterprises, and promote the sound development of our real estate development has become our utmost concern. Based on the systematic and dynamic evaluate principle, as well as the specific character of our real estate business, this article is trying to set up some indices to evaluate the core competitive power of real estate development enterprises. With the help of DEA, this article is going to make an analyses to the data of listed real estate development enterprises. By generalization of the deficiency of the competitive power in one or two specific real estate enterprise, it will give an analysis to the influencing factors in an effort to find out the concrete focus to cultivate the core competitive power. In the end, the evaluation result shows that most of the real estate enterprises in China are equipped with certain validity, while the reason why very few enterprises are so lack of competitive power lies in the fact that a rational core competitive power has been missing.The most highlight of this article rests with the endeavor to quantify the indices like acquisition capability and society contribution of real estate enterprises. At the same time, the application of DEA analysis also prevents the appearance of an irrational result, caused by the overweight of subjectivity for indices evaluation. Presently, most of the evaluations to the core competitive power of real estate development enterprises only direct towards the exceptional situation for very few enterprise. However, this article has applied DEA for the first time to evaluate the core competitive power according to the data of 42 real estate development enterprises that are listed in Shenzhen and Shanghai stock markets. Due to the difficulty of data acquisition, the insufficiency of this article is the failure to quantify some mega indices that are believed to be essential for the writer, and later apply them to data analyses. Meanwhile, the failure to outline all the concrete focuses concerning the core competitive power of enterprises can also be enhanced in the future research.