Research On The Optimization Of The Capital Structure Of The Listed Real Estate Companies

Real estate industry is a pillar industry in our country.Its development has a great influence on our country's economy directly and indirectly.At the same time,as a capital intensive industry,the real estate industry is also greatly influenced by our country's macro-environment.The capital structure is related to the business performance of enterprises,Therefore,continuously optimizing the capital structure of the real estate enterprises and improving the performance of the real estate enterprises are of great importance to the development of the real estate enterprises and even China.Firstly,this paper studies the related works and related theories of domestic and foreign capital structure.Then the paper studies the present situation of the capital structure of the real estate industry in China,and puts forward the problems that the asset-liability ratio is generally high,the financing channel is generally relatively single,the proportion of short-term liabilities in debts is too high and the degree of equity concentration is too high,taking the operating performance as the optimization target of the capital structure,we use the factor analysis method to calculate the quantitative value of the performance of the listed real estate companies,and use the regression analysis method to establish the capital structure optimization model of the listed real estate companies,and analyze the internal relationship between the capital structure of the real estate listed companies and the performance of the enterprises.The optimal interval of the ownership concentration is(51.72%,62.97%),the optimal interval of the current debt ratio is(0,40.148%),the optimal interval of the asset-liability ratio is(50.14%,62.16%).Finally,using the results of the study to analyze and study the capital structure of green land holdings,it is proposed that the capital structure has problems such as excessive current debt ratio,high proportion of pre-received accounts and accounts payable,high debt level and excessive dependence on bank loans,combined with the actual situation of green land holdings,it is proposed that enterprises should reduce the concentration of equity,reduce the proportion of current liabilities,make rational use of commercial credit financing,reduce the asset-liability rate and broaden the financing channels for enterprises to optimize the capital structure of enterprises.