Capital Structure Optimizing And Financing Decision-making In Real Estate Enterprise

The real estate industry is a dense capital industry .The capital is the life of project moving, the rupture of capital will take very much risk involved in real estate enterprise and financial organization. A series of financial policies increased the difficulty of loan and the proportion of self capital, and they made the real estate enterprise adjust the capital structure and look for new financing channels.According the fact of the real estate in our country, firstly, this paper narrated the progress of real estate and put up the problem, introduced the theory of west capital structure, analyzed the relation of capital structure and financing;Secondly, discussed the traditional and new financing channel in China and the financing channel of foreign real estate enterprise, analyzed the feature of capital structure and the mode of optimizing capital structure in our country;Thirdly, researched the cost of finance, WACC, MCC, finance level and so on. Demonstrated the standard and aim of optimizing capital structure is adding the value of enterprise. In theory studied how to optimize capital structure and fix the best capital structure, put forward capital structure dynamic optimizing flow in real estate enterprise;At last, discussed the financing channels of Beijing Capital Land LTD, analyzed the capital structure of the project and how to select financing channels and optimize capital structure.Whether in the process of theoretical study or practical analyses, the author tried her best to make exploration combined with implementing of financial policies and capital structure and the financing channel of real estate enterprise in our country, with the hope of going deep into the studies on optimizing capital structure and financing decision-making theoretically and practically.