| As leading industry and pillar industry of national economy, real estate industry has business and livelihood double properties. The real estate industry has long development period and the characteristics of big capital demand, the dependence of the real eatate industry and capital market increases more closely. Meanwhile, the real estate industry is very sensitive to the government's macroeconomic control policies, any minor adjustments of macroeconmic policies will result in positive or adverse effects to the real estate industry. How to promote the real estate industry achieving the continuous improvement in the context of optimal capital structure, has become common concern from the theory and industry practice.This paper firstly describes capital structure and business performance of the real estate industry and the significance of the problem to be solved in the post—crisis era, and systematically comb research progress of the domestic and foreign relevant aspects about the real estate industry. Part two of this paper mainly describes capital structure theory and business performance theory of the real estate industry, which focuses on the traditional and modern capital structure theory of the western, and more common real estate enterprises innovative financing—real estate investment trusts(REITs).Part 3 and part 4 are the core chapters of this paper, this paper chooses 20 real estate companies of the Shanghai and Shenzhen 300 index as the research object. Based on the current situation analysis of the capital structure,solvency,profitability,assets operation ability,development ability, the capital structure and operating performance of the descriptive statistical analysis, correlation analysis and regression analysis through SPSS statistical software and get some useful conclusions. Finally, this paper brings forward some policy-related suggestions on how to optimizing the capital structure and rising real estate enterprise operating performance. |
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