Research On The Financial Performance Evaluation Indicators System Of The Real Estate Listed Companies

The development of China’s real estate is rapid in recent years,thecompetition has become increasingly fierce.With the excessive development ofthis industry and the bubble economy emerged,real estate market is facingpredicament.In order to guide healthy development of the real estatemarket,government has launched a series of effective macroeconomic regulationand control,the real estate industry is facing greater pressure.It’s very necessaryto research the financial performance of the industry in this situation.Listed realestate companies is the representative of overall strength of the industry.Throughthe evaluation of financial performance of the real estate listed companies,it canhelp to understand the current development and problems of the industry,andpromote real estate enterprises to achieve sustainable development.This thesis summarizes the performance evaluation theory domestic andinternational.First,in-depth study of four financial performance evaluationindicators of commonly used traditional evaluation system,analysis thelimitations of these indicators for the real estate industry.And then according tothe indicator selection principles and the characteristics of real estate listedcompanies,add new four categories of financial indicators on the basis oftraditional financial indicators.Using statistical methods to filter out the mostsuitable indicator group to build a financial performance evaluation index systemfor real estate listed companies. Finally, select the80listed companies in the2011Annual Report data as samples to conduct empirical research using factoranalysis and SPSS software.And analysis and evaluate the financial performanceof listed real estate companies, make recommendations. Through the analysis of the financial performance of listed real estatecompanies,the conclusions are as follows:good profitability and the investors’interests protected status,as well as good market performance ability.However,the poor condition of solvency and cash flow,operating capacity in poor condition,the future prospects are uncertain,and uneven development issues are becomingincreasingly prominent.To solve the above problem,the recommendations are asfollows:real estate listed companies should optimize the capital structure,strengthen the management of cash flow.Follow macroeconomic policy guidance,strengthening internal management, and broaden the investment area.This thesis is mainly constructed a financial performance evaluation indexsystem of listed real estate companies through theoretical analysis and empiricalresearch,designed to help provide a reference for managers to make businessdecisions,and promote the better development of listed companies as well as theentire industry.