Research On The Impact Of Debt Financing Of Listed Real Estate Companies On Company Performance

Real estate as a pillar industry of the economic system of our country,it's very important to be healthy and sustainable.The high debt-to-assets ratio in the real estate industry illustrate that they prefer to use debt financing,but it also means high operating and financial risk,which could affect the performance of corporate.Consequently,controlling its debt and equity financing in a reasonable range can optimize the company's financing structure and it's important to the performance of corporate.This paper focuses on the comprehensive analyzing of the relationship between debt financing and corporate performance from analyzing listed real estate enterprises.The paper chooses 100 A-share listed real estate companies of Shanghai and Shenzhen from 2012-2015 years as the research samples to analyze its impact on corporate performance and the possible economic consequences from the three aspects of debt financing.The first chapter of this paper introduces the background and significance of the topic,gives the research methods and content of the article,at the.same time reviews the related literature home and abroad,and recapitulating them.In the second chapter,to recapitulate and analyze the the related theory of debt financing,to define the concept and introduce the development of the theory of debt financing and to expound its impact on corporate performance.The third chapter analyzes situation of the debt financing of the listed Real Estate Company.The fourth chapter through the empirical research to illustrate the relevance of financing structure and corporate performance and obtaining the conclusions.The fifth chapter is the conclusion and suggestion of this paper.Based on the analysis of the research results,this paper puts forward the relevant and reasonable policy recommendations.The conclusions show:First,from the overall debt level,debt-to-assets ratio and listed real estate company's performance is negative correlation.Second,from the debt maturity,the debt financing and corporate performance of listed companies is a negative correlation.what's more,from the debt source structure,the different debt source works out a different corporate performance.Commercial credit and corporate performance is positive correlation,and the bank loan and corporate performance is negative correlation.