Financial Capacity Empirical Study Of Influencing Factors For Listed Company In Real Estate Industry

The real estate industry has played an important role in Chinese economic system.Thus whether it will keep a healthy and sustainable development has become thefocus of attention. Under the macro-control policy influence, as a capital-intensiveindustry, the real estate companies are trying to establish a wide range of financingchannels in the case of capital shortage. Therefore, the financing capacity of the realestate listed companies is the very attention-getting topic among themselves,investors and relevant departments.First the paper defines the financing capacity of the companies. Base on thetheories about the financing capacity to study about the present financial situation andthe influence factors about the financing capacity. Next the paper will choose typical12financial target influence factors system based on the influence factors about theinternal financing capability and external financing capacity. And on these bases, theauthor selects67real estate companies’2ndquarter of fiscal from2007to2013toempirical analysis the financing capacity of these companies by using principalcomponent analysis method. Further more, according to the result, the paper selectsprofitability, the ability to resist risks, collateral value of assets, the growth ability ofthe enterprise, the scale of the enterprise to the five principal component factors asindependent variables. Independent variable’s chosen is representative of theenterprise debt level’s asset-liability ratio, panel data analysis on FEM, and empiricalanalysis on the influence degree of each factor. At last, according to the researchresults to puts forward relevant policy suggestions.