Research On The Impact Of Real Estate Enterprises' Debt Pressure On Their Sustainable Operating Capacit

The real estate industry is an industry with a long investment recovery cycle,which is easy to be affected by national policies and macroeconomic and other external factors.With the introduction of a series of real estate purchase restriction policies and the strengthening of financing supervision,it indicates the firm idea of housing and housing and the determination of deleveraging.Under the tight industrial policies,real estate enterprises generally suffer from the debt pressure.However,under the same conditions,real estate enterprises have different performance on the sustainable operation ability.Some real estate enterprises have shown strong sustainable operation ability under the debt pressure.What accounts for the difference?Based on the literature research method and on the basis of reading and learning a large number of relevant literature,this paper has carried out sufficient reference and research on the impact of debt pressure and the ability to go on business.Compared with previous studies,the author adopted different research methods in this paper.Through case study,the author made a more in-depth study on the action path of debt pressure and going concern from the micro level,and deeply analyzed the impact of debt pressure on going concern.Firstly,based on the existing literature,this paper combs the relevant concepts and theoretical knowledge.Secondly,the basic situation of the real estate industry and the case company CFLD is introduced,and the debt pressure faced by the company and its causes are explained and analyzed.It is concluded that the debt pressure is caused by the weakening of liquidity and the mismatch of debt maturity.Then,through the three-factor model of going concern,the going concern is subdivided into three factors: financial quality,operation quality and governance energy efficiency.The influence process of debt pressure on the three factors is studied qualitatively and quantitatively,and the optimization path is proposed for the current going concern problems faced by real estate enterprises.The results of the case study show that the debt stress has a direct impact on the financial quality and the efficiency of governance,but an indirect impact on the management quality.The three factors of sustainable operation affect each other.The reduction of governance energy efficiency will weaken the operation quality of enterprises,leading to the gradual intensification of debt pressure,and the high-quality business model cannot be maintained all the time.Finally,the imbalance of debt quality and governance energy efficiency will be successively weakened,resulting in the crisis of sustainable operation.Therefore,in order to completely restore the sustainable business ability,it is not only necessary to solve the symptoms of the current difficulties,but also to comprehensively improve the company’s financial quality,management quality and governance energy efficiency.Only bypassing the appearance,from the inside to the outside in-depth rectification can resolve the relevant real estate enterprises sustainable management crisis.