Research On Financing Mode Of Real Estate Enterprises In China

The real estate industry belongs to the capital-intensive industry,which has the characteristics of large capital investment and long cash flow cycle.Only with sufficient capital can real estate enterprises gain advantages in the market competition,especially in the important period when the real estate industry continues to accelerate its development and expand land reserve on a large scale.In order to remain invincible,real estate enterprises must choose appropriate financing modes and channels.Nowadays,the government has issued strict policies on bank credit.If we want to survive,we must have sufficient operating funds to develop real estate enterprises.Therefore,financing is the most important problem for real estate enterprises to overcome.Therefore,more real estate enterprises need to make full use of all kinds of resources and conditions to solve capital problems and lead enterprises to success.This paper takes TB real estate as the research object,based on the theory of pecking order financing,trade-off theory,MM theory,principal-agent theory and other theoretical research,through in-depth study of China's real estate enterprises now facing financing problems,combined with the status quo of TB real estate financing,puts forward the proposal of TB real estate diversified financing mode.Firstly,this paper introduces the financing background of the real estate industry,and consults the literature on financing of real estate enterprises,then summarizes the main financing methods of real estate enterprises and the main influencing factors of financing of real estate enterprises,which paves the way for the following research on financing methods of TB real estate companies;secondly,according to the financial materials of TB real estate companies in the five years from 2013 to 2017,the paper makes a thorough study on financing methods of TB real estate companies Over-qualitative and quantitative analysis methods clearly point out the financing difficulties faced by TB Real Estate Company.It is concluded that there are many financing problems in TB Real Estate Company,such as too single channel,unqualified capital structure,increasing financial risks and low financing efficiency.Based on the above analysis of the financing problem of TB Real Estate Company,this paper proposes the diversified financing mode of introducing asset securitization,determines the diversified financing scheme of TB Real Estate Company based on the theory of pecking order financing,designs the general framework of asset securitization of TB Real Estate Company,and summarizes the expected effect.Finally,four suggestions are put forward to improve the financing problems:innovating financing methods and developing from multiple perspectives,enhancing the profitability of enterprises,controlling financing risks and improving the internal control system.On the choice of financing mode,diversified financing mode is the best choice for real estate enterprises at present and even in the future.The article advocates that TB real estate company should decide to introduce diversified financing mode of asset securitization to finance,which can effectively balance the financing structure of TB real estate company,reduce the risk and cost of TB real estate financing,and make TB real estate company raise further.At the same time,I hope to have some reference value and reference significance for the research of TB real estate financing mode.