綠城輕資產(chǎn)戰(zhàn)略轉(zhuǎn)型的財務成效分析
本文選題:房地產(chǎn)行業(yè) + 輕資產(chǎn)。 參考:《西南交通大學》2017年碩士論文
【摘要】:隨著改革開放的推進和市場經(jīng)濟的蓬勃向上,經(jīng)歷了 30余年發(fā)展的房地產(chǎn)行業(yè)作為國民經(jīng)濟支柱的作用日益明顯,其興衰存亡、起伏波動會直接影響到經(jīng)濟的可持續(xù)發(fā)展和進步。然而,近幾年國家宏觀調(diào)控加緊了對房地產(chǎn)行業(yè)的管控,市場供求關系正在潛移默化地發(fā)生著變化,大量房企面對房價波動、市場環(huán)境震蕩,一時之間反應不及,出現(xiàn)了大范圍的業(yè)績下滑、銷路不佳、資金鏈斷裂的危機。眾多大型的房地產(chǎn)上市企業(yè)依靠多年的根基在風雨中飄搖,同行業(yè)的中小型房企則難以為繼相繼歇業(yè)倒閉。中國的房地產(chǎn)行業(yè)被推到了風口浪尖,依靠轉(zhuǎn)型升級尋求出路成為行業(yè)的潛在需求。本文在充分研讀相關學術(shù)文獻、總結(jié)理論知識的基礎上,以多次出現(xiàn)資金鏈危機的大型房地產(chǎn)上市企業(yè)綠城中國為分析對象,圍繞綠城正在進行的輕資產(chǎn)戰(zhàn)略轉(zhuǎn)型,使用其財務數(shù)據(jù)分析輕資產(chǎn)轉(zhuǎn)型實施的戰(zhàn)略、取得的效果以及存在的不足。首先結(jié)合PEST理論對影響房地產(chǎn)行業(yè)的環(huán)境因素進行分析,討論房企進行輕資產(chǎn)轉(zhuǎn)型的必要性。然后分析概括輕資產(chǎn)化的房地產(chǎn)企業(yè)應該具有的財務特征,為后文的財務數(shù)據(jù)對比分析提供參照標準。隨后對綠城輕資產(chǎn)轉(zhuǎn)型中在經(jīng)營、籌資、投資中圍繞財務運作和資金鏈危機的解決開展的一系列業(yè)務和活動進行詳細解讀.在此基礎上,從綠城的歷年年報中提取財務數(shù)據(jù),主要采用縱向?qū)Ρ取⑤o以橫向?qū)Ρ鹊姆椒?運用恰當?shù)闹笜?比較分析綠城在輕資產(chǎn)轉(zhuǎn)型前后其財務表現(xiàn)的不同,以此驗證其轉(zhuǎn)型方式的正確性以及發(fā)現(xiàn)當中存在的問題。基于以上研究,本文總結(jié)綠城輕資產(chǎn)轉(zhuǎn)型的成功和不足之處,并據(jù)此對正在實施或?qū)⒁M行輕資產(chǎn)轉(zhuǎn)型的房地產(chǎn)企業(yè)提供可借鑒的建議。最后,總結(jié)出本文的局限和展望。
[Abstract]:With the development of reform and opening up and the vigorous development of market economy, the real estate industry, which has been developing for more than 30 years, plays an increasingly important role as a pillar of the national economy. Ups and downs will directly affect the sustainable development and progress of the economy. However, in recent years, the state macro-control has tightened the control of the real estate industry, and the relationship between supply and demand in the market is changing gradually. A large number of housing enterprises are facing fluctuations in house prices, and the market environment is volatile. The emergence of a wide range of performance decline, poor sales, capital chain break crisis. Many large listed real estate enterprises rely on the foundation of many years in the wind and rain, the same industry small and medium-sized housing enterprises are difficult to continue to close down. China's real estate industry has been pushed to the forefront, relying on transformation and upgrading to find a way out of the industry's potential demand. Based on the study of relevant academic documents and the summary of theoretical knowledge, this paper takes Green City, a large listed real estate enterprise, which has appeared many times as capital chain crisis, as the analysis object, and revolves around the strategic transformation of light assets under way in Green City. Using its financial data to analyze the implementation of light assets transformation strategy, the results achieved and shortcomings. Based on the PEST theory, this paper analyzes the environmental factors affecting the real estate industry, and discusses the necessity of light assets transformation. Then it analyzes the financial characteristics of the light capitalized real estate enterprises, and provides the reference standard for the comparison and analysis of the financial data. Then, a series of operations and activities around financial operation and financial chain crisis are explained in detail in the transformation of green city light assets in operation, financing and investment. On this basis, the financial data are extracted from the annual reports of Green City in the past years. The financial performance of Green City before and after the transition of light assets is compared and analyzed by means of longitudinal comparison, supplemented by horizontal comparison and appropriate indicators. In order to verify the correctness of its transformation and find the existing problems. Based on the above research, this paper summarizes the success and shortcomings of the green city light assets transformation, and provides suggestions for the real estate enterprises that are implementing or will carry out the light assets transformation. Finally, the limitations and prospects of this paper are summarized.
【學位授予單位】:西南交通大學
【學位級別】:碩士
【學位授予年份】:2017
【分類號】:F299.233.42
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