The Research On Financial Risk Evaluation Of Real Estate Enterprises Based On Social Network Analysis

The real estate is an important industry in China’s national economy,which concerns the development of many industries and people’s livelihood issues.At present,under the cross-effects of various factors such as national policy,market demand and macroeconomic situation,the financial risk of real estate enterprises are prominent.At the same time,the characteristics of huge investment,long investment cycle and slow capital recovery of real estate development projects further increase their financial risks.Therefore,in the context of complex and constantly changing environment,it is necessary to conduct a systematic and in-depth study on the financial risks of real estate enterprises in combination with internal and external factors,and make an effective evaluation on the financial risks of real estate enterprises,so as to promote real estate enterprises to actively respond to the regulation of national macro policies,maintain the stability of the real estate industry and the whole market economy,and help internal and external stakeholders in real estate enterprises to make correct judgments and decisions.This article takes China’s listed real estate companies as the research object and builds a financial risk evaluation model from a dynamic perspective.Firstly,analyze the causes and characteristics of financial risks in China’s real estate companies;Secondly,build a financial risk evaluation index system that combines financial indicators with non-financial indicators based on the industry characteristics of financial risks in real estate companies and previous research results;Thirdly,use social network analysis methods to build Index node relationship network,calculate the centrality of the index node to measure the importance of the nodes,and construct the density weight of the subgroup by using the cohesion degree of the subgroup and the traditional density weight,based on this,calculate the static financial risk evaluation value;Then,the time weight is determined by comprehensive consideration of the information timeliness and environmental fluctuation,and the dynamic comprehensive financial risk evaluation value is calculated by linear weighting;Finally,based on the financial risk evaluation results,the K-means clustering method is used to classify financial risk levels and financial risk development trends.This article takes 94 A-share listed real estate enterprises as the research samples for empirical analysis.The empirical results show that:(1)the financial risk level of listed real estate companies will have varying degrees of volatility over time,and the top and bottom companies in the industry have relatively less volatility;(2)the number of enterprises with different financial risk levels presents a normal distribution,and the financial risk level of most real estate enterprises is in a good and poor range;(3)Most of the enterprises show the development trend of volatility or stability,and the proportion of enterprises showing the rising and falling trend is relatively low.Finally,according to the empirical results,this article put forward the corresponding financial risk management countermeasures from the industry macro perspective and the enterprise micro perspective.