Research On The Impact Of Debt Financing On Corporate Performance Of Listed Real Estate Companies In China

The real estate industry is the "barometer" of the national economic development.It is not only the basic and the pilot industry of the national economy but also the pillar industry.It controls the economic lifeline and the fiscal revenue of one country.Especially for our nationals,the real estate industry with the vital interests is related to everyone.Debt financing is the main source of funding for enterprises,and also an important part of the capital structure.Capital structure is an important aspect of corporate governance,real estate is a capital-intensive industry,so how to make a debt financing structure decision to improve the corporate governance of real estate listed companies,real estate listed companies to enhance corporate performance is particularly important.Therefore,in order to find out some reasonable ways for the real estate listed companies to benefit the debt financing of the company,it is necessary to study the impact of the debt financing of the real estate listed companies on the performance of the enterprises.The research is not only theoretical and realistic significance.This paper chooses the A-share real estate listed companies listed on the Shenzhen Stock Exchange from 2011 to 2015 as the research sample.The original data are downloaded from the GuotaiAn database,and the data are processed by SPSS19.0 and EXCEL software.This paper breaks through the traditional scholars.This paper studies the impact of the single variable on the performance of the firm from three aspects: the overall level of the debt financing,the debt maturity structure and the debt source.According to these three aspects,five assumptions and three models are put forward,and then according to the model to carry out empirical research,the purpose is to hope through the study of the results of the study to find a way to improve the performance of real estate listed companies.Finally,through the analysis of this paper,the results show that the overall level of debt of real estate listed companies is related to the performance of enterprises,the negative relationship between them,that is,the higher the debt level of enterprises,the lower the performance of real estate listed companies;Short-term debt and long-term debt have a negative impact on corporate performance,indicating whether both short-term debt and long-term debt,the impact on the performance of enterprises are unfavorable;bank loans and corporate performance was negative correlation,the more bank loans,the lower the performance,the commercial credit and the company’s performance was positive correlation,indicating that if a company’s commercial credit is good,then its performance level is higher.