Research On The Relationship Between Capital Structure And Financial Performance Of Listed Real Estate Enterprises Under The New Normal

President Xi Jinping first referred to the "new normal" in his trip to Henan in May 2014".With China's economic development entering the new normal,the economy from high speed growth to medium and high speed growth,economic structure optimization and upgrading.The real estate industry is an important pillar industry in China,which has an important impact on the development of China's national economy.Under the great change of the overall economic environment,China's real estate industry has entered a "new normal",and gradually return to reason.The fierce competition in the financing channel of our country government is tightening of the real estate business environment,how to optimize the capital structure of listed real estate enterprises,improve financial performance,so as to enhance the core competitiveness is very important.On the one hand,banks and other financing institutions,enterprises and other stakeholders through the enterprise financial performance to judge the situation of the business enterprise,the capital structure has an important influence on the financial performance;on the other hand,a good capital structure for the enterprises to improve capital efficiency,long-term stability and development and is also important.Through the study of the new normal background,the relationship between enterprise capital structure and financial performance of the listed real estate enterprises,so as to optimize the capital structure,improve financial performance and enhance the core competitiveness of countermeasures,has theoretical and practical significance.This paper is divided into five chapters.The first part is an introduction,which introduces the research background and significance,research trends at home and abroad,research content and research methods.Then introduces the capital structure,financial performance and other important concepts.On the basis of the above background and theoretical basis,combined with the relevant data of 107 listed real estate enterprises in the past 2012-2016 years,this paper analyzes the overall situation of listed real estate enterprises under the new normal.Then,the paper puts forward the hypothesis,establishes the model,and uses SPSS22.0 software to make regression analysis on the panel data of 107 listed real estate enterprises in the past 2012-2016 years.Finally,draw conclusions and put forward countermeasures and suggestions.The regression model showed that under the new normal real estate companies listed asset liability ratio and corporate financial performance is positively related;the proportion of short-term loans and corporate financial performance are negatively correlated;the relationship between capital structure and financial performance are inverted "U" curve two;ownership concentration and corporate financial performance is positively related;listed real estate companies equity balance and corporate financial performance is positively related;enterprise scale and enterprise financial performance is positively related.Finally,according to the previous analysis and research conclusions,countermeasures are put forward.It is hoped that the analysis content,research results and Countermeasures of this paper can provide help and reference to the listed real estate enterprises in China which are facing severe challenges and great tests.