Study On Optimization Of Capital Structure Of Real Estate Vanke Group

The capital structure has been a modern enterprise management of the three themes(one of the investment, financing, financial management). The capital structure theory has become the financial economics and money crown the most dazzling diamond service theory, the "mystery" capital structure is tempted many economists before servant successor. For a "rational" company,its core should be the capital operation not a product production, the pursuit of goal should be to establish the best proportion of the company’s debt capital and equity capital relationships, reduce costs, avoid risk and gain more benefits. So for the listed company, and the allocation of resources and to the society has a decisive influence allocation efficiency, more important is it for the survival and sustainable development of listed companies have of great significance.Since reform and opening up in China, the securities market development has been more than10 years history, the listed company also thousands of. Because most of the listed companies in China based on the original state-owned enterprises, listed before because of the information while reducing the capital structure of debt capital, but a lot of the value of the company and the effect of listed companies did not get the corresponding enhancement, many listed companies has appeared the trend of declining performance. At present I the capital structure of listed companies, found that there are two significant characteristics: most of the listed companies on the one hand,maintained a relatively the rate of assets and liabilities of low; and modern capital structure theory contrary, also listed companies there are differences with the west. Capital structure problem not only determines the listed companies governance structure configuration and system of the company, but also has a decisive on the configuration and allocation efficiency of social resources effect, more important is it for the survival and sustainable development of listed companies has important significance.This paper USES normative analysis method, with the combination of literature and case, the vanke real estate capital structure optimization problem and the solution are studied. Its practical value lies in: through the study of capital structure, combined with the actual case, starting from the reason of the capital structure optimization and the optimization method, in comparison, thus targeted put forward effective countermeasures.