Research On Investment Efficiency Evaluation And Influence Factors Of Real Estate Listing Corporation In China

Company value depends fundamentally on their investment behavior,whether the investment behavior has efficiency or not directly affect maximization of company value.With the development of the real estate industry,real estate listed company become more and more,industry competition is intense with each passing day.The real estate companies has to face the changing market and the macro-control policies,so they must improve their investment efficiency.Evaluate of the real estate listed company's investment efficiency and analysis the factors which affect the level of investment efficiency is good for company decision makers find their market position and improve company's investment efficiency,in addition,that is good for promoting the real estate industry sustained,stable and healthy development.Based on the papers what research company efficiency and companies' investment efficiency input and output indicators,elaborates the measure and comparison,consider to choose real estate company investment efficiency of input and output indicators,using BCC-DEA model,model of super-efficiency DEA and Malmquist index,from two aspects of static and dynamic evaluation of the real estate investment efficiency of listed companies,to sort of effective real estate listed companies,and from the total factor productivity TFP decomposition of each part of corporate investment efficiency.Based on this analysis,combined with the influencing factors of real estate investment efficiency of listed companies,the quantitative analysis of the influencing factors of significant degree,finally puts forward the system of equity,debt structure from the company,cash management,and other aspects put forward policy Suggestions to improve the efficiency of corporate investment.