風(fēng)險(xiǎn)資本對(duì)我國房地產(chǎn)公司財(cái)務(wù)業(yè)績(jī)的影響

1萬字

摘要：近年來，房地產(chǎn)行業(yè)發(fā)展迅速在我國國民經(jīng)濟(jì)中扮演越來越重要的角色。主要表現(xiàn)在：房地產(chǎn)業(yè)具有很強(qiáng)的行業(yè)關(guān)聯(lián)性，它的發(fā)展可以帶動(dòng)建筑、建材、冶金以及50多個(gè)物質(zhì)生產(chǎn)部門的發(fā)展，并引發(fā)住宅消費(fèi)等產(chǎn)業(yè)，為社會(huì)提供就業(yè)機(jī)會(huì)，促進(jìn)國民經(jīng)濟(jì)的發(fā)展。風(fēng)險(xiǎn)資本是一種以私募方式募集資金，以公司等組織形式設(shè)立，投資于未上市的新興中小型企業(yè)的一種承擔(dān)高風(fēng)險(xiǎn)、謀求高回報(bào)的資本形態(tài)。風(fēng)險(xiǎn)資本同為房地產(chǎn)公司的創(chuàng)業(yè)和上市提供了便利，它不僅會(huì)影響公司的治理結(jié)構(gòu)，而且影響公司的資本成本和公司的總價(jià)值，合理利用風(fēng)險(xiǎn)資本直接關(guān)系到提升上市公司素質(zhì)和投資價(jià)值、增強(qiáng)投資者信心以及促進(jìn)證券市場(chǎng)的健康發(fā)展。
我國房地產(chǎn)業(yè)的資本結(jié)構(gòu)具有資產(chǎn)負(fù)債率高，融資渠道單一等特點(diǎn)。國家針對(duì)我國房地產(chǎn)業(yè)發(fā)展的特點(diǎn)出臺(tái)了一系列相關(guān)政策，在這種大環(huán)境下，引進(jìn)風(fēng)險(xiǎn)資本幫助房地產(chǎn)企業(yè)創(chuàng)業(yè)和上市會(huì)對(duì)公司的財(cái)務(wù)業(yè)績(jī)有哪些影響以及風(fēng)險(xiǎn)資本退出企業(yè)后該如何優(yōu)化企業(yè)資本結(jié)構(gòu)的問題的研究應(yīng)該受到重視。
本文主要分為三個(gè)部分。
第一部分主要是對(duì)風(fēng)險(xiǎn)資本和財(cái)務(wù)業(yè)績(jī)的概念進(jìn)行闡述，并且介紹幾個(gè)房地產(chǎn)公司重要的財(cái)務(wù)指標(biāo)。
第二部分主要闡述了房地產(chǎn)行業(yè)的基本特點(diǎn)，房地產(chǎn)上市公司的現(xiàn)狀分析以及風(fēng)險(xiǎn)資本參與房地產(chǎn)公司的作用和效益。
第三部分采用主營業(yè)務(wù)收入凈利率、凈資產(chǎn)收益率、主營業(yè)務(wù)收入增長(zhǎng)率和凈資產(chǎn)增長(zhǎng)率四個(gè)財(cái)務(wù)指標(biāo)，對(duì)比有風(fēng)險(xiǎn)資本參與其上市的房地產(chǎn)企業(yè)和無風(fēng)險(xiǎn)資本參與其上市的房地產(chǎn)企業(yè)，得出風(fēng)險(xiǎn)資本對(duì)我國房地產(chǎn)企業(yè)財(cái)務(wù)業(yè)績(jī)有何影響的結(jié)論。



Effects of venture capital on the financial performance of Real Estate Company in China
Abstract: In recent years, the development of the real estate industry has played a more and more important role in our national economy. Mainly displays in: the real estate industry with strong correlation, it development building, building materials, metallurgy and more than 50 production sectors, and triggered a residential consumer industries, providing employment opportunities for the society, promote the development of the national economy. Venture capital is a kind of way to private raising funds, to the company, organization establishment. It is a high risk, high return capital to invest in new forms of small and medium enterprises not listed. Venture capital with the Real Estate Company of entrepreneurship and listed to provide convenient, it will not only affect the company's governance structure, but also affect the total value of the firm's cost of capital and company, the rational use of venture capital is directly related to the quality of the listing Corporation and enhance the investment value, enhance the confidence of investors and promoting the healthy development of the securities market.
The capital structure of China's real estate industry has a high rate of assets and liabilities, single financing channel characteristics. The national characteristics of the real estate development in China has issued a series of related policies, in this environment, the introduction of venture capital to help real estate enterprise and market will be how to optimize the capital structure influence and which the exit of venture capital enterprises after the issue of the company's financial performance should be paid attention to.
This paper is divided into three parts.
The first part is mainly explained the concept of venture capital and financial performance, and introduces several Real Estate Company important financial index.
The second part mainly expounds the basic characteristics of the real estate industry, the real estate listing Corporation status analysis and risk capital to participate in the role and benefits of Real Estate Company.
The third part of the four financial indicators of growth rate of main business income, net profit rate of net asset profit rate, the growth rate of main business income and net assets, compared with risk capital to participate in the listed real estate companies and non risk capital to participate in the listing of real estate enterprises, the risk capital the impact on financial performance China's real estate business concluded.



目 錄

引言 1
第一章．相關(guān)概述 2
1.1風(fēng)險(xiǎn)資本 2
1.2財(cái)務(wù)業(yè)績(jī)的評(píng)價(jià)方法 3
1.2.1 主營業(yè)務(wù)收入凈利率 3
1.2.2凈資產(chǎn)收益率 3
1.2.3 主營業(yè)務(wù)收入增長(zhǎng)率 4
1.2.4 凈資產(chǎn)增長(zhǎng) 5
第二章．我國房地產(chǎn)行業(yè)現(xiàn)狀分析 6
2.1 房地產(chǎn)行業(yè)概述 6
2.1.1 房地產(chǎn)的概念 6
2.1.2房地產(chǎn)業(yè)的發(fā)展?fàn)顩r 6
2.2 房地產(chǎn)行業(yè)上市公司的基本狀況 7
2.2.1 房地產(chǎn)上市企業(yè)的..