The Analysis Of Listed Real Estate Companies’ Actual Growth Rate And Sustainable Growth Rate Disjointed Factors

Chinese real estate industry has an important position in her social and economic systems. It is gradually becoming a dynamic pillar industry. After nearly10years’ rapid development, many real estate companies’ growth rates are on longer in line with their sustainable growth rates. The rapid growth will exhaust a company’s resources and hinder her later growth. The slow actual growth will also result in risky financial situations leading to elimination or acquisition. So it is worthwhile to figure out the relationship between real estate business’s real growth rate and sustainable growth rate, and to figure out what will happen if the two factors disjoint. In this paper, publicly held real estate companies are listed as the research objects. Actual growth rates and sustainable growth rates of those companies are collected, and related factors and data from the past three years are calculated.Through the use of continuous growth theory, the descriptive statistics and the analysis of the specific circumstances I determine their correlation and co-efficiency, and finally I come to the basic conclusions. Referring to the deviation, I first analyze, from a macro point of view, the reasons why those samples’sustainable growth rates and actual growth rates disjoint; Then, from the micro perspective, I research various financial factors and their impacts on the disjoint of actual growth rates and sustainable growth rates; and I used linear method in the analysis of the all sample companies. The results show that the two factors causing the disjoint are asset turnover and sales margin; Finally, from the micro perspective, I analyze the influence of managers’ competence, the internal operation, the administrative strategies and other non-financial factors on the company’s growth. In the end, according to the research results, I gave suggestions on the promotion of sustainable growth for China’s publicly held real estate companies from the government and the corporate levels respectively.