Research On Financing Structure And Corporate Performance Of Listed Real Estate Companies

The financing structure of different industries has different effects on business performance.As the mainstay of China's national economy,its operating performance directly affects the growth of China's national economy.In the report of the 19th National Congress of the People's Republic of China,emphasis was placed on real estate financial control policies such as“not housing and frying”and“hiring and purchasing”,and most real estate listed companies encountered stringent policy restrictions.In view of the special economic status and financing structure of the real estate industry in China,it is of great theoretical and practical significance to study the relationship between the financing structure and corporate performance of real estate listed companies in China.This article takes the 2012-2016 China real estate industry as the starting point.After breaking through the study of simply evaluating the business performance with some static financial indicators,it introduces the latest multiple financial indicators of China's real estate listed companies and uses factor analysis to calculate the comprehensive operatingperformanceM_i.Accordingto“financingstructure theory——analysis of the status quo of the financing structure of housing enterprises——factor analysis method to calculate the comprehensive operating performance of housing enterprises——regression analysis of the financing structure and comprehensive operating performance of housing enterprises”,this is the main line for real estate listed companies in China.Based on the analysis of related theories and status quo of financing structure,through the combination of factor analysis and linear regression model,debt financing,equity financing,internal financing and the performance of real estate listed companies are organically combined to systematically analyze the financing structure and operation of real estate listed companies.Try to determine the optimization direction of China's real estate listed companies financing structure,and then provide countermeasures and suggestions for China's real estate listed companies to improve their business performance.This article selects 62 real estate listed companies in our country as research objects,adopts theoretical analysis and data analysis,and conducts empirical research on the impact of real estate financing structure on business performance.The results of the study show that there are many areas for improvement in the financing structure of real estate listed companies in China;in terms of debt financing structure,the proportion of long-term debt financing is higher;while in the equity financing structure,the proportion of state-owned shares is higher,the proportion of the largest shareholder holds shares is lower;in terms of internal financing structure,real estate listed companies need to accumulate more own funds.These unreasonable financing structures restrict the operating performance of real estate listed companies.Finally,from the three aspects of debt financing,equity financing and internal financing,this paper puts forward some countermeasures and suggestions for optimizing the capital structure of real estate listed companies,in order to improve the performance of real estate listed companies in China.