| Industrial structure and the relationship between market performances has always been a focus of industrial organization research, market concentration is the most important measure of industrial structure index. In which industrial structure and market performance in the end who is the main cause, who is the cause, scholars launched a number of theoretical and empirical research, eventually gave rise to two diametrically opposed theory that the market structure hypothesis and market efficiency hypothesis, and thus Theory of industrial organization formed two major academic schools - Harvard School and the Chicago School. Although the theory between the two factions with sharp disputes, but they have admitted between industrial structure and market performance there is a significant correlation.In 2010, Vanke's property sales over the amount of the first billion dollar mark, reaching 102.6 billion, and firmly hold the leading position of the industry; In addition, the sales amount of over fifty billion yuan of enterprises include Poly Real Estate, Greenland Group, China Overseas, Hengda Real Estate, Greentown China five. So far, the real estate industry has formed a super (Wanke)and a lot of powerful competition. Meanwhile, high prices, high negative public opinion become the focus of any large background, the real estate industry control policy tightening continued to wave after wave of introduction of the development of the whole industry faces turning point. Industrial structure, an appropriate increase in the level of industrial concentration, improving real estate market performance, which has become the industry needed to solve the current economic problems.This classic Western based on the theory of industrial organization, empirical studies of real estate concentration and the correlation between market performance. First, industry concentration and market performance were related to the traditional theory comb Calculate the absolute rate of the real estate industry concentration, results showed that the concentration of low level of real estate; and mainly from the operating margin and net assets Yield performance of both the analysis of the real estate industry that the level of performance of the real estate market is still low; On this basis, the empirical analysis of the real estate industry concentration and market performance relationship between the two obtained There is no significant between cause and effect relationship; Finally, to focus on the optimization of market structure and policy recommendations to improve market performance. |
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