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房地产企业资本运营模式研究 _ 以绿城集团为例.pdf

发布:2017-09-11约5.46万字共50页下载文档
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论 文 摘 要 房地产业是国民经济的支柱产业。房地产商品具有价值量大、所需投资金额 大、生产周期长、稀缺性等特征,所以房地产业是一个高风险、高收益的行业。 因此,进行合理的、恰当的资本运营成为房地产企业发展的关键。在实际的操作 过程中,国有大型房地产企业由于制度的便利,取得了先天优势;而中小型房企, 尤其是民营房地产企业则由于诸多不利因素,发展速度、规模一直受到限制。多 年来,国内房地产市场一直由“万招保金”四大国有企业领衔。2003年以来, 政府为了抑制房地产投资过热,进行了一系列的宏观调控,这更加剧了民营房地 产企业面临的资本运营困境。本文通过对案例企业绿城集团的发展历程进行分 析,总结其资本运营的经验和教训,为我国房地产企业的资本运营提出了一些建 议。 本文首先介绍了房地产企业资本运营的概念和内涵,然后阐述了房地产企业 加强资本运营的必要性及面临的问题,接着对案例企业绿城集团进行全面分析, 总结了其多年来资本运营的经验,最后针对房地产企业的资本运营给出了一些自 己的建议。 本文认为,面对有史以来最严厉的房地产调控,房地产企业必须增强自己的 资本运作能力,适时的开展金融创新,拓展多元化融资渠道;改变融资观念,与 国际金融市场紧密接轨;全力加强财务控制,保持强劲持续的现金流;积极的战 略转型,将企业做大做强;运作合作开发,弥补资金和土地短板。 只有这样,房地产企业才能在激烈的竞争中赢得先机。 关键词:房地产企业,资本运营模式,模式创新 1 Abstract Abstract AAbbssttrraacctt Real estate industry is a pillar industry of national economy. Large amount of valuable real estate commodity, the amount of investment required for large, long production cycle, the scarcity of other features, so the real estate industry is a high risk, high return industry. Therefore, the reasonable and appropriate development of capital operation as the key real estate companies.In actual operation, the state-owned large-scale real estate enterprises the convenience of the system, and achieved an advantage; and small and medium housing prices, private real estate companies in particular are due to many negative factors, the pace of development, the scale has been limited.Over the years, the domestic real estate market has been led by the big four state-owned enterprises which are Wan Zhao Bao Jin .Since 2003, in order to suppress overheated real estate investment, China government carried out a series of macro-control policy,which is exacerbated by theprivate equity real estateenterprises, are facing more difficulties. Based on the company Greentown Group, paper
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