The Impact And Optimization Of The Capital Structure Of China's Real Estate Listed Companies On Business Performance

The typical difference between real estate industry and other industries,which is mainly reflected in the large impact of the national macroeconomic policy in the production of products with a large amount of funds,the production and the long payback period,the products can't be moved.The industry's asset liability ratio is higher than other industries,and the main funds from short-term and long-term liabilities.This paper mainly studies the capital structure and operating performance of Real estate development and management of Listed Companies in China.Firstly,analysis and research all previous theoretical research;then review the current domestic real estate industry's capital structure and business performance;through curve analysis and regression analysis of the influencing factor equation to construct the two of capital structure and business performance,the empirical research on the capital structure of the debt structure and ownership structure and business performance.It is the profitability,solvency,operation ability and development ability;finally determine the reasonable scope of the optimization of capital structure according to the range of established function between the independent variables and the curve trend.In order to keep business performance at a high value,the ratio of interest bearing debt to total invested capital should be controlled within 34.90%.In this paper,the empirical test shows that the debt structure of capital structure has a significant impact on operating performance.