| Real estate investment has the characteristic value and the value of strong,has been with the gold and the stock was listed as the world’s three largest investment,since the reform and opening up,the residents of real estate products demand in China increased to the real estate market has been a lot of investment and development,and bring investment and stimulate economic growth of the industry,real estate industry has gradually become the important pillar for the steady and rapid economic development in china.But the real estate investment is a capital intensive industry,the project development process will exist for a long period of funds to advance,accompanied by painful lessons in the world economic downturn and the impact of the financial crisis,China’s real estate industry is constantly improving the financial regulatory system,regulatory measures more diversified.High value-added real estate investment attracted enormous competition within the industry,how can the talent shows itself in the present stage of high risk and high competition environment,to seek survival and development of enterprises is an important issue in real estate enterprises.Adequate funding and reasonable and effective way of financing will help enterprises to break the predicament,can make up for the real estate development and construction projects in the funding gap,reduce the management risk of the enterprise,help the enterprise achieve the goal of profit maximization.Thinking of writing this paper is inspired by the real estate enterprises in the current economic environment to survive and develop,hope that through certain ways to quantify applicability of the mode of financing,to find a reasonable way of financing to help real estate enterprises out of the financing difficulties.The method of fuzzy comprehensive evaluation method,several kinds of financing mode of real estate enterprises selected is recognized as the object of analysis and e,valuation,including bank loans,trust financing,stock financing,lease financing,bond financing.According to the real estate financing practice experience,must consider four factors as evaluation object factor selection of real estate enterprise financing,including feasibility(restrictions),financing cost,financing scale(mortgage rate),flexibility(loan efficiency,use restrictions),then according to the index weight of each factor and the degree of membership the relationship between the comprehensive evaluation,the matrix model,through mathematical operation so as to ’obtain the membership index of five kinds of financing.The weight vector of evaluation factors from empirical data(expert evaluation scoring),determined by the nature of enterprise membership(state owned and non state owned),the four aspects of asset size,business reputation and profitability to the fuzzy comprehensive evaluation.For the determination of the weights and the degree of membership of the evaluation factors,it is necessary for the evaluators to have some real estate financing experience and the ability to identify and analyze relevant data,so that more objective and accurate data can be calculated.The significance of this study is through the analysis of the real estate capital market data in recent years,combined with the macro policy of the real estate market in recent years,the evaluation of five kinds of financing vector,financing way to quickly determine help policy makers,has a certain guiding significance for the financing of real estate enterprises in the current economic environment,the adjustment of credit policy after the real estate financing activities also has a certain reference value.The full text is composed of four parts.The first part is the introduction,introduces the importance of investment in real estate projects in development and construction,and the serious situation at this stage of the real estate industry,this paper expounds the present situation of the real estate capital market,briefly introduced the fuzzy comprehensive evaluation method,on the domestic and foreign related literature reviews;the second part discusses the theoretical basis of this paper,introduces the theory of fuzzy comprehensive decision model;the introduction and analysis of the third part of the current economic environment,credit policy and five kinds of financing.And on this basis,using fuzzy comprehensive evaluation method to get the evaluation of five kinds of financing methods for comprehensive evaluation vector,and a case of comparative analysis;the last part is the deficiency of innovation and the research conclusion,the. |
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