The Capital Structure Optimization Research Of Cfld Real Estate Company

The rapid development of the real estate has become a pillar industry in China.Diversification of the financing process of real estate has been hindered,because of strict policies on purchasing and loans,the incomplete laws and regulations and the lack of innovation in financial products.If real estate companies continue to maintain a stable and good development,they must expand the financing channels,explore diversified financing model and optimize the financing structure.This article hopes to study the financing structure of CFLD Real Estate Company,which can provide favorable evidence and verification for Chinese current corporate finance theory.The financing structure of CFLD Real Estate Company has an important significance for improving the financing strategy of real estate companies in China,improving the financing capacity of real estate companies,promoting the development of Chinese real estate financial market,and accelerating diversified financing channels.In order to propose reasonable optimization of the financing structure,this article conduct a detailed study on the current status and problems in its financing structure,taking the CFLD Real Estate Company as the research object,combining financial data and MM theory,preferential financing theory,agency cost theory.The CFLD Real Estate Company has problems of high asset-liability ratio,short-term financing,and excessive concentration of equity in the financing structure.On the one hand,the unreasonable reasons are imbalanced investment scale expansion,insufficient use of diversified financing channels and lack of modem investment decision-making mechanisms;on the other hand,there are policy barriers to diversified financing,immature banking system development and financial products insufficient innovation.Taking the maximization of corporate value as the optimization goal and taking into account the strategic development goals of the"regionalization to globalization" of the enterprise,suggestions for optimization of CFLD's capital structure are including reducing asset-liability ratio,introducing external shareholders,strengthening diversified financing models.