Research On Optimization Of Capital Structure Of Real Estate Enterprises

The real estate industry is a capital-intensive industry.Capital is the lifeline of project operation.Once the capital chain breaks,it will bring great risks to real estate enterprises and financial institutions related to their business cooperation.The current series of financial credit policies not only raise the threshold for real estate business loans,but also push up the proportion of self-owned funds for real estate enterprises,forcing real estate companies to adjust and optimize their capital structure.This paper selects China's large-scale real estate company Vanke Real Estate as the research object.Based on the theory of enterprise capital structure optimization and the research status at home and abroad,it analyzes the industry background of Vanke Real Estate and the overall situation of the company and the company's capital structure.The formation process,starting from its financing channels and financing behaviors,according to the financial data of Vanke Real Estate 2012-2017,and related data of the same industry,the horizontal and vertical comparative analysis of its capital structure,to find out its problems and These data were substituted into the asset structure optimization model to conclude that Vanke's capital structure was optimized when the asset-liability ratio was 60%.Through the analysis of the internal capital structure influencing factors and existing problems,and the optimization model to further analyze the capital structure of Vanke Group,it is believed that Vanke's capital structure deviates from the optimal capital structure standard,and finally proposes corresponding countermeasures.That is: first,reduce the proportion of debt financing,reduce the asset-liability ratio;second,expand external financing channels and increase the proportion of long-term liabilities;third,optimize the financing structure and increase the proportion of internal financing;fourth,pay attention to equity financing,optimize the company's decision-making mechanism,and then Realize the continuous optimization of the capital structure of Vanke Real Estate.The innovation of this paper is to provide a certain reference for the optimization standard of Vanke's real estate capital structure,and provide some reference for the optimization of the capital structure of the real estate industry.