| In the academic field of financial risk on enterprise, enterprise financial risk early warning on the research of this area has been a hot issue, but studies on financial risk estimation are very seldom. Both financial risk early warning and estimation can play the role of financial risk precaution by selecting indexes and founding model. Besides, financial risk early warning generally acts as an alarm while financial risk estimation doesn't have the function of early warning, but it can be used at any period. Financial risk estimation plays the role of evaluating the risk of some company and can be used to compare risks in the same industry.The real estate industry have the characteristics of high-investment, high-risk, long-cycle, high-yield, and has gone through the strike from financial crisis and is confronting with industry adjusting. So financial risk are an urgent problem faced with the real estate industry. To set up indexes system and found financial risk estimation model is a generally used method but due to the environmental differences, indexes are different from industry to industry. So it is necessary to found financial risk estimation model according to industry characteristics.The author look back the study on financial risk both at home and abroad and analysis the characteristics of real estate companies and its causes in the thesis. The author selected 66 companies as samples and picked up 6 factors to conduct analysis by factor analytical method. By making use of the model the author compared the factor differences of outstanding companies and worse companies. At last, some precaution measures are put forward according to the analysis above.Empirical studies demonstrate that the ranking of the comprehensive factor score calculated with the evaluation model on 66 listed real estate companies is basically realistic operating conditions. It can be used to compare risks between different comanies in the same industry, and have the warning role to the real estate copanies lower down on the list. From the analysis of impact factors, based on the industry perspective, corporate comprehensive capacity factor and growth capacity factor have great impact on the real estate industry; baded on the enterprise perpective, growth capacity factor has great impact on stronger corporates, and profitability factor has great impact on weaker corporates. Therefore, we should propose targeted preventive measures focus on the real estate industry and the different types of enterprises. |
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