| In the background of the global financial crisis and domestic real estate policy control,China’s real estate enterprises, especially small and medium-sized real estate enterprisesappear capital chain tight the tension. Through the quantification model and the practical tothe way of the combination of the case analysis, in real background, this paper is discussingChina’s real estate enterprises’ innovative financing in that situation which enterprises stillmainly carried on loan at present. This article studies the main body part of fuzzycomprehensive evaluation method and case analysis, the two methods in different researchobjects, but they have inner relationships. The fuzzy comprehensive evaluation method ismainly to overall the financing efficiency of the real estate enterprises in our country, andaccording to the method of analysis we could find the order of the internal financing, thecreditor’s rights financing and equity financing. With the real estate trusts represented, suchloans and compared the way of innovative financing, are in the case analysis for the mainmethod of study. The real estate economics, after all, is a practical subject, so adopt caseanalysis can better from the fundamental research to the actual market research. This paperlists the three typical real estate trusts products’ cases, a brief analysis of the trusts productsdifferent types of design for real estate enterprises financing efficiency, and the influence ofthe practice work according to your own experience, and according to the current real estatetrusts products put forward their own suggestions for the further improvement. Finally,according to the above for real estate enterprises face the practical problems of domesticfinancing, as well as the domestic financial market of the real estate in practical situations ofdomestic real estate enterprises and the finance of the real estate market, that two aspects areput forward the countermeasures and proposals. Domestic real estate enterprises financingstatus is concerned, real estate enterprises shall improve their financial system, strengthenfinancial information transparency, and then, we should enhance the management ability ofenterpises, and improve the capital operation of profits of them, thus has enough capital stockof principal and interest payments, maintain the finance of the real estate market welloperation order. Finally, according to the agency cost theory, shall establish a reasonable equity incentive system, reduce the agency cost. To the domestic real estate finance markets, Ihave main two aspects of the policy suggestions. On one hand, real estate financing primarymarket should expanse the financial product offerings, to get rid of excessive dependence onbank credit products. China’s real estate enterprises financing channel is too single, which is aprominent problem. And to highlight the problem, we should focus on it. On the other hand,to expanse the secondary market of the real estate financing, and obtain the experience of theforeign market financing. This mainly froms the United States, Singapore, and Germany’s realestate development of financial market, among them, this paper also have relevant sections ofthe above three countries for special financial market of real estate on the characteristics ofroughly in this paper. The innovation of this paper mainly reflected in the problem analysismethods of innovation, using different scientific research methods for the different degree tothe progressive level of analysis research. The fuzzy comprehensive evaluation method ismainly to the domestic real estate enterprises financing of the overall situation aresummarized, for an example of the real estate trusts product analysis, mainly from themacroscopic level to the microscopic level, the real estate trust product for represent, foranalysis is still under try, and new real estate financing products and range of their owncharacteristics. Meanwhile, in domestic real estate development of financial market andpolicy suggestions, has also taken the contrast analysis method, through the analysis of thedomestic and foreign introduce the United States, Singapore, Germany the finance of the realestate market of the literature, for sorting, based on this, puts forward the feasibilitySuggestions. |
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