本文選題：房地產(chǎn)開發(fā)企業(yè) + 信用評級�。� 參考：《長安大學(xué)》2013年碩士論文

【摘要】：房地產(chǎn)行業(yè)是我國的支柱產(chǎn)業(yè)，作為房地產(chǎn)行業(yè)組成單位的房地產(chǎn)開發(fā)企業(yè)，在推動經(jīng)濟增長、帶動其他產(chǎn)業(yè)發(fā)展方面做出了突出貢獻。然而資金短缺、融資難等問題一直制約著我國房地產(chǎn)開發(fā)企業(yè)的發(fā)展，成為房地產(chǎn)開發(fā)企業(yè)難以突破的瓶頸。雖然經(jīng)過幾十年的發(fā)展，我國資本市場正逐漸走向成熟。但是由于房地產(chǎn)開發(fā)企業(yè)資產(chǎn)負債率高、資金周轉(zhuǎn)慢等特點決定其需要大量的資金，因此金融機構(gòu)的貸款發(fā)放成為我國大多數(shù)房地產(chǎn)開發(fā)企業(yè)的資金來源。而礙于緊縮的財政政策及房地產(chǎn)開發(fā)企業(yè)的還款信用風(fēng)險，金融機構(gòu)更加重視對房地產(chǎn)開發(fā)企業(yè)貸款的審批。金融機構(gòu)對于是否發(fā)放貸款的決定，取決于貸款企業(yè)的信用評級。目前無論是我國金融機構(gòu)的內(nèi)部評級，，還是專業(yè)機構(gòu)的外部評級都沒有統(tǒng)一的對房地產(chǎn)開發(fā)企業(yè)的信用評級指標(biāo)體系和評級模型。 本文在總結(jié)前人研究成果的基礎(chǔ)上，確定影響房地產(chǎn)開發(fā)企業(yè)信用評級的因素，分別建立定量指標(biāo)與定性指標(biāo)的信用評級指標(biāo)體系。并基于可拓物元理論，建立房地產(chǎn)開發(fā)企業(yè)的信用評級模型。力求科學(xué)準(zhǔn)確的反映房地產(chǎn)開發(fā)企業(yè)的信用評級，并進行實證分析。 論文主要的創(chuàng)新點如下： （1）運用可拓物元法對房地產(chǎn)開發(fā)企業(yè)信用評級進行分析，使信用等級與評級指標(biāo)數(shù)據(jù)可靠的結(jié)合在一起。信用模型計算過程中，以2012年房地產(chǎn)開發(fā)企業(yè)綜合實力前20強企業(yè)的財務(wù)數(shù)據(jù)中位數(shù)為基礎(chǔ)，確定可拓模型的經(jīng)典域，使房地產(chǎn)開發(fā)企業(yè)信用評級更加切合房地產(chǎn)市場的實際情況。 （2）運用熵權(quán)法確定房地產(chǎn)開發(fā)企業(yè)信用評級定量指標(biāo)的權(quán)重。熵權(quán)法對權(quán)重的確定完全取決于定量指標(biāo)的數(shù)據(jù)，避免了權(quán)重確定的主觀性，使權(quán)重的確定更加合理。 （3）對房地產(chǎn)開發(fā)企業(yè)信用評級的定性指標(biāo)與定量指標(biāo)進行分別評級，使二者的評級過程互不影響。最后將二者的評級結(jié)果相結(jié)合得到最終的信用評級。這樣避免了定量指標(biāo)與定性指標(biāo)的交叉影響，使整個評級過程簡單明了。
[Abstract]:Real estate industry is the pillar industry of our country. As a unit of real estate industry, real estate development enterprises have made outstanding contributions in promoting economic growth and promoting the development of other industries. However, the shortage of funds and the difficulty of financing have been restricting the development of the real estate development enterprises in our country, and become the bottleneck of the real estate development enterprises. Although after decades of development, China's capital market is gradually maturing. However, because of the characteristics of high asset-liability ratio and slow capital turnover, the real estate development enterprises need a lot of funds, so the loan from financial institutions becomes the source of most real estate development enterprises in our country. Due to the tight fiscal policy and the credit risk of real estate development enterprises, financial institutions pay more attention to the approval of loans to real estate development enterprises. The decision of a financial institution to make a loan depends on the credit rating of the lending company. At present, there is no unified credit rating index system and rating model for real estate development enterprises, whether internal rating of financial institutions or external ratings of professional institutions. On the basis of summarizing the previous research results, this paper determines the factors that affect the credit rating of real estate development enterprises, and establishes the credit rating index system of quantitative index and qualitative index respectively. Based on extension matter-element theory, the credit rating model of real estate development enterprises is established. To scientifically and accurately reflect the credit rating of real estate development enterprises, and carry out empirical analysis. The main innovations of the thesis are as follows: 1) using extension matter-element method to analyze the credit rating of real estate development enterprises, so that the credit rating and rating index data can be reliably combined together. In the process of credit model calculation, based on the median financial data of the top 20 top 20 real estate development enterprises in 2012, the classical domain of extension model is determined. So that the real estate development enterprise credit rating more in line with the real estate market. Using entropy weight method to determine the weight of quantitative index of real estate development enterprise credit rating. The determination of weight by entropy weight method completely depends on the data of quantitative index, which avoids the subjectivity of weight determination and makes the determination of weight more reasonable. The qualitative index and the quantitative index of the credit rating of the real estate development enterprise are rated separately, so that the process of the two ratings is not influenced by each other. Finally, the final credit rating is obtained by combining the results of the two ratings. This avoids the cross-influence between quantitative and qualitative indicators, and makes the whole process of rating simple and clear.
【學(xué)位授予單位】：長安大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F299.233.4

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