The Study On Private Equity Funds To Exit Problem Of Real Estate In China

Because of the local government enacting continuously controlling policies of the real estate, many real estate enterprises are unable to bank financing and enterprises do not have enough capital for operating and investment. Therefore, more and more real estate enterprises change the original mode of financing and raise capital in some way, which is to set up and be participating in the establishment of real estate private equity funds. Private-equity invests in real estate projects, which not only need a lot of money, but also have a long maturity, meanwhile, liquidity is poor. As a result, the every link of private equity funds will have a huge impact on project operating condition. At the same time, the real estate is susceptible to national policy, economic environment, the influence of financial markets. The uncertainty is very large. This article mainly discusses the problems of real estate private equity funds to exit and the influence factors of exit, and on the basis, the corresponding case is adopted to target analysis the influence factors of real estate private equity funds to exit. Meanwhile, using b-s model guides the real estate private equity funds out smoothly.The article mainly includes six chapters: the first chapter is introduction, mainly to this article research background, research significance, research ideas, research both at home and abroad, innovations and deficiencies; The second chapter is introducing exit the theory, mainly elaborated the real estate private equity funds operation flow, the real estate private equity funds to exit the rational principle, resource scarcity theory, real option theory to basic the back of the related research theory; The third chapter is on the current situation of the real estate private equity fund exit time and exit manner, and problems analyzed. The fourth chapter is the factors that influence the real estate private equity funds to exit, which is mainly on the basis of the previous chapter, further analysis of the influence factors of real estate private equity fund exit time and exit manner, and lay the foundation for next chapter case analysis. The fifth chapter is the empirical analysis. First introduces corresponding model of real option, reuse application case of decision-making model, to achieve the combination of theory and practice. The sixth chapter is put forward the corresponding operational suggestions.