Research On Effect Sustainability And Influencing Factors Of Major Asset Restructuring In Chinese Real Estate Listed Companies

Asset restructuring, as one of the most effective ways to optimize allocation of resources, expand business scale and adjust structure, has been the attractive subject for scholars in the capital market research. Academics and entrepreneurs focus on whether the asset restructuring can improve the performance of company or not and how long the influence sustains. As the core industry of national economy, real estate industry has gone through a gradual prosperity, which has ever maintained a two-digit growth rate. In recent years, real estate industry enters into a phase of integration. Large quantities, small scale and scattered distribution of this industry urge it to achieve the efficient allocation of resources through asset restructuring, which gives much stronger companies chance to expand business at low costs and renders even weaker companies choices to survive in the market and improve their financial performance.The paper researches on 15 listed companies in real estate industry which have undergone the asset restructuring. AHP,Wal score method,Factor analysis method and finance index method are applied to analyze the influence of asset restructuring to companies within 5 years. It also combines the qualitative indicators and quantitative indicators in a creative way. It draws some conclusions and proposes several suggestions to the relevant stakeholders after the specific and general analysis of the asset restructuring effect to the 15 companies.This paper is divided into five parts:The first part introduces the research background and significance, gives a fast scan to the research at home and abroad, gives a brief description to the research methods, innovation and shortage and designs the framework of this paper.The second part defines such concepts as ”Major asset restructuring” ”restructuring effect” ”sustainability ” and introduces relevant theories.The third part gives a detailed description of indicators and sample selection, which lays a solid foundation to following analysis.The fourth part analyzes the short-term and long-term effect imposed by major asset restructuring on the companies with AHP and Wall method. It also analyzes the various factors of affecting the major asset restructuring in Factor analysis method.The fifth part draws final conclusions based on the research and proposes corresponding suggestions to investors and companies.