An Empirical Study Of Listed Real Estate Companies Capital Structure And Business Performance

Capital structure theory has been to all academics to research subject, from the initial of the MM theory until now the new capital structure theory, the scholars home and abroad for decades, according to different industries all carried on the thorough research. Through the study found that capital structure is always in a dynamic change process, no absolute optimal capital structure, enterprise only according to the different economic environment, different macro policies and their overall state to constantly adjust their capital structure to make the enterprise and a better business performance. In China’s real estate industry has experienced ups and downs of decades, also experienced an orgasm in experienced during the downturn. In general in China’s real estate industry is a high investment and high risk high return industry, over the years along with the regulation of national macro policy, previous high debt leverage for the real estate business is no longer the master key that to create profits, in order to deal with the government’s macroeconomic regulation and control, to guarantee the healthy sustainable development of real estate industry of real estate industry on the impact of capital structure on enterprise operating performance study is very necessaryThis article includes six part. The first part introduces the goal and the expected contribution of this paper give some explanation; The second chapter is literature review part, the author of the capital structure at home and abroad capital structure impact on business performance, business performance, to introduce some of the research results. Third chapter through an introduction to the carding of the capital structure theory and performance theory, the theory basis for this article; The fourth chapter mainly introduces the concept of the real estate industry. Fifth chapter for empirical research, this article through the factor analysis method of listed real estate companies. The sixth includes the conclusion and the suggestion, Through research, this article finally, the empirical analysis results for the asset-liability ratio are negatively related with the enterprise’s business performance, short-term debt ratio and long-term asset-liability ratio and corporate performance relationship only in the case of a significance level of15%or so. According to the results, this paper respectively from the company level and national level put forward some Suggestions. From the company level put forward advice on how to optimize capital structure, from the national level and puts forward some advice on how to ensure sustainable development of the real estate industry healthy.