Research On The Effect Of Monetary Policy On The Operating Performance Of Real Estate Enterprises

The real estate industry is the national key industries, such as investment and consumption of market economic pull effect, made a significant contribution to the development of the national economy, but also has some influence on the life of the people., in order to maintain economic stability and social unity government repeatedly for real estate macro-control, where monetary policy is the most common and most effective methods. The current research mainly focus on the effect of monetary policy on house prices, study on the effect of the lack of monetary policy on the real estate listing Corporation operating performance. Based on this, the method of empirical research to study the effect of monetary policy on the performance of listed companies in the real estate business, hope to provide some practical and available suggestions of management strategy to the real estate listing Corporation face monetary policy.This paper selects the Shanghai and Shenzhen A shares of the listed real estate Corporation as the object of study, excluding financial data of the insufficiency of the listing Corporation, and finally selected59real estate listing Corporation, with59home real estate listing Corporation in2003to201311years of financial data, based on the analysis of existing research on the impact of monetary policy on the listed real estate Corporation, business performance and then, using the EVIEWS software, using panel data research method, the effect of monetary policy on the real estate listing Corporation operating performance an empirical test. In the empirical process, determine the model form through the unit root test, F test, Houseman test, modified according to the characteristics of real estate enterprises, the final regression model establishment of loan interest rates, the statutory deposit reserve ratio and money supply on real estate listing Corporation financial evaluation index of the current impact and the lagged effect, in order to analyze the impact of currency policies on the real estate listing Corporation operating performance.This study found that:the loan interest rate increase of the real estate listing Corporation profitability is negative; this effect will be waning with time. The increase in money supply to the real estate listing Corporation profitability began to have a negative impact, and then this effect disappeared gradually. The loan interest rate increase has a negative impact on the real estate listing Corporation operating ability, and has the lag effect. Deposit reserve ratio has a negative effect and the influence will not disappear in the short term to the real estate listing company’s inventory turnover and total turnover. Loan interest rates short-term solvency of real estate companies have a negative impact, have a negative impact on the deposit reserve ratio increase of the real estate listing Corporation long-term solvency. The augment in money supply to the real estate listing Corporation cash holdings have negative effect. The increase of interest rate has a negative impact on the real estate listing Corporation short-term growth ability, has a positive impact on the real estate listing Corporation long-term growth. Deposit reserve rate increases have a negative impact on the real estate listing Corporation growth ability. The increase in money supply has a negative impact on the real estate listing Corporation short-term growth ability, influence is weakened gradually.The effect of money policy on the real estate listing Corporation operating performance is obvious, in the effect of monetary policy, making the real estate listing Corporation business strategy is very important for future development, this paper would like to monetary policy affects the real estate listing Corporation business strategy gives some practical suggestions for the. First to adjust monetary policy trend research, forecasts the tendency of monetary policy, on the basis of this, from monetary policy to the real estate listing Corporation performance influence channels from starting, financing, land acquisition, development and marketing and other aspects of monetary policy regulation real estate listing Corporation business management method.This paper argues that the impact of monetary policy, real listed estate Corporation management method including:finance, first of all to give full play to the advantage of the real estate listing Corporation, equity financing, use SEO secondly, commercial banks is still the main source of funding real estate listing Corporation, real estate listing Corporation can obtain loans from commercial banks through the integration of advantageous resources, risk sharing means. Finally, monetary policy impact on the real estate business performance of the listing Corporation is most willing to lies in the real estate listing Corporation rely on loans to commercial banks, therefore, the real estate listing Corporation should make full use of bank loans but rely on bank loans to commercial banks, reduce the dependence, to broaden the financing channels; land acquisition rationality to focus on premium and the surrounding the formulation of reasonable price land reserves, can participate in the new town development positive moderate, low-income housing construction projects; development, industrialization of construction has the advantages of standardization and scientific, can reduce expenditure, reduce cost, is the inevitable trend of the future development of real estate, large-sized apartment, Hardcover room is the future market demand for the type of real estate, real estate listed companies should be real demand, a clear market positioning; marketing, in the full use of the basis of traditional marketing methods, innovative marketing mode, the mobile Internet is the trend of the future, to make full use of the new media marketing channel. In addition, we should perfect the housing surrounding supporting service facilities; improve the occupant’s feelings, Only in this way, in monetary control policies on the real estate listed companies to develop better.