Analysis And Optimization Of Financing Structure Of Unlisted Real Estate Enterprises

The real estate industry is the pillar industry of China's national economy,which is related to the national economy and the people's livelihood.The real estate industry has a wide impact on the development of other industries.In recent years,the vigorous development of the real estate industry has prompted China's real estate enterprises to make rapid progress in financing arrangements and financing channels.However,the lack of financing capacity and the defect of financing structure are accompanied by this.The background of this paper is the industry environment of domestic large and medium-sized non listed real estate companies.This paper first studies the main financing channels of large and medium-sized non listed real estate enterprises,and simply analyzes the characteristics of each financing channel,and analyzes the current situation and trend of the financing channels of large and medium-sized non listed real estate enterprises at present.Secondly,we get the following conclusions:the financing structure optimization goal of large and medium-sized non listed real estate enterprises should include reducing the cost of comprehensive funds,controlling policy risks and market risks,and maintaining the flexibility of financing structure.Then,this paper studies the relationship between the main financing sources of the large and medium-sized unlisted real estate enterprises and the optimization target of the financing structure.The advantages and disadvantages of the main financing sourcesin terms of capital cost,policy sensitivity,market sensitivity,flexibilityare analyzed,and the suggestions for the optimization of the financing structure of the large and medium-sized non listed real estate enterprises are obtained.Finally,taking D company and its Hangzhou branch as a case,this paper analyzes the impact of financing structure optimization on large and medium-sized non listed real estate enterprises.This paper argues that in order to optimize its own financing structure and raise the rate of return on shareholders' equity,large and medium-sized non listed real estate enterprises should focus on expanding financing channels,increasing the proportion of superior financing channels,and reducing systemic risk through financing ratio.There are still two shortcomings in this paper.First,the quantitative analysis is not done,and the conclusions are not accurate enough;second,the study case is single,and the conclusion of the research has not been universally verified.