Analysis Of Operational Efficiency Of China's Real Estate Listed Companies

As a pillar industry of the national economy,the real estate industry's healthy and stable development is one of the focuses of the academic community and the industry.At present,China's real estate business operations not only have problems such as weak profitability,low management level and limited market competitiveness,but also face ever-changing market demand and macro-control policies in an increasingly fierce market competition.Therefore,enterprises must improve their operational efficiency in order to survive and develop in such an environment.So what is the operating efficiency of the enterprise,what are the characteristics and connotations of the operating efficiency of the real estate enterprise,and how to use the operational efficiency of the real estate enterprise to effectively integrate and optimize the real estate enterprise,which is a real estate enterprise the problem lies.This paper uses the two-stage DEA method to empirically analyze the operating efficiency of 115 real estate listed companies,and compares the data results.It is concluded that the income-generating capacity of enterprises is stronger than that of profitability between 2012 and 2015.Between 2016 and 2017,companies' profitability is stronger than their income-generating capacity.From the comparison of regional classifications,between 2012 and 2017,enterprises in the old first-line,new-tier and second-tier cities pay more attention to enterprise development,that is,the company's income-generating ability is stronger.And urban enterprises below the third-line and third-tier cities pay more attention to the profitability of enterprises.From the perspective of the age limit,from 2012 to 2015,the company mainly focused on income-generating efficiency.From 2016 to 2017,the company mainly focused on profitability.At the same time,in order to further explore the influencing factors of the efficiency of real estate listed companies,this paper adopts the Tobit regression model,and concludes that the operating efficiency of real estate listed companies is positively correlated with the level of economic development(per capita GDP)and enterprise age.It is negatively correlated with the scale of the enterprise(total assets),the asset-liability ratio,and the concentration of ownership(the ratio of shares held by the top ten shareholders).The healthy development of real estate listed companies is related to the national economy and the people's livelihood,and it is receiving more and more attention from all walks of life.Therefore,real estate listed companies should enhance their innovation capabilities,strengthen cost control,optimize business operation management,expand business scale,select cities,and coordinate the management of real estate enterprises with national policies to provide real estate business operations.policy support.