Listed Real Estate Companies Capital Structure Optimization Research In China

Long ago,there was a lot of scholars study has been carried out to the enterprise capital structure problem,today,the enterprise capital structure research has become the core issue of financial studies,it is also a question about how to efficient allocation of its resources.In recent years,as China's investment and financing system reform and the transformation of economic system,the research of enterprise capital structure become the focus of academic circles.The real estate industry is a very important industry in our country,is also a very important pillar industry in China,the development direction of the real estate industry itself and the financing way,make the capital structure of real estate companies have more distinctive features.In China's real estate industry in the past few years is very brilliant,but in a volatile economic environment,although the real estate industry is developing very rapidly,but the resulting economic damage are also gradually deepened,the harm to the economic development of China,market stability and social harmony are very bad.In order to reduce adverse effects,the state actively introduced a series of macro-control policies,the policy for real estate enterprises is very severe.Characteristics of the real estate industry itself and the changeable and complex economic environment in our country,which requires the real estate industry need to dynamically optimize its capital structure,only in this way can enterprises continue to maintain sustained,healthy and harmonious development.In this paper,based on the general theory of capital structure,vanke group,as the research object,the present situation of the capital structure of China vanke,the existence question,and how to optimize the study.This article first analyzes the vanke group,the present situation of capital structure and forming process,secondly sums up the capital structure characteristics of vanke group,and according to the characteristics of vanke group,the existing problems,put forward again,using normative analysis method,to calculate the static optimal capital structure,vanke group,on the basis of comprehensive consideration of the current situation of the current real estate industry,vanke group,the influence factors of capital structure and financial flexibility,it is concluded that vanke group of dynamic optimal capital structure interval from 83% to 87%,in the end,according to the aforementioned problems,put forward the corresponding measures to optimize the capital structure of vanke group.