Factors Of Capital Structure Study On Real Estate Listed Companies Of China

Since 1958, Miller and Modigliani made the MM theory, the Western scholars conducted in-depth study and research. They have found a number of factors on capital structure have an important impact, such as environment and company administration and so on, though not all the same conclusions. The adjustment of capital structure is very important for business, which will affect production and business activities of enterprises. The impact of capital structure factors that help to increase corporate value.In recent years China's real estate industry developed rapidly, exceeded the growth in GDP for many years. In addition it provided a powerful impetus for the economic growth. Asset-liability ratio of the real estate business was significantly higher than the other sectors, which is not conducive to healthy and stable development of real estate enterprises. Meanwhile house prices rose too fast in recent years, many policies introduced by the Government to regulate the real estate industry to stabilize the market economy. In this paper, the real estate business as the research object, analyzes the factors that influence the extent of its capital structure and methods.First, it elaborated the research background and significance, summarized the development of capital structure and research results. Next chapter it analyzed the real estate company's capital structure and finance channel. In chapter 4, the characteristic factors of the company's capital structure and the results are analyzed. Because macroeconomic factors on the real estate business has important implications, in the paper, we choice some factors of the macroeconomic to analyze how the impact of real estate capital structure. Finally we made some suggestions and summarize some research disadvantages.