Study On The Optimization Of CFLD Capital Structure

Capital structure is a question that worth exploring in the theory of financial management.It can concentrate on the interests and duty of shareholders in the businesses,and has a great impact on the corporate governance structure and even the value of companies.A reasonable capital structure is conducive to improve the financing strategy of companies and improve the value of companies.Fluctuations in the capital structure are often seen as a sign of future earnings expectations conveyed to investors of all kinds.The study of capital structure can't only show the inward connection between capital structure and company performance,but also provide some theoretical sustain for capital structure policy and investment and financing decision.It has been forty years since China's reform and opening up.The development of real estate industry in China has become mature,occupying a vital position in China's economic development,and gradually becoming an irreplaceable industry to promote the healthy and steady development of China's social economy.Real estate enterprises need a large amount of capital supply to develop steadily and sustainably,so it is necessary to study the capital structure of real estate enterprises.However,the industry's financing channels are single,the ownership structure is concentrated,the asset-liability ratio is high,the financial risk is too big is recognized in the industry,and has not been due attention and solution.Since its establishment,CFLD has become the leader of China's housing enterprises with its good brand image and high-quality housing resources.Studying its capital structure can better contribute to optimizing the capital structure of China's listed real estate companies and even the whole industry.This paper uses the method of case analysis to study the optimization ofCFLD capital structure in China.The main content consist of six sections:The first is the introduction,which introduces the background and meaning of this passage,including the domestic and foreign literature about the optimization of capital compensation;the second part recommend the main concepts and main theories related to capital compensation: the third part is the introduction.Based on industry data,this writing analyses the current situation of China's real estate industry from four aspects: national policy,debt structure,ownership structure and property right ratio,and points out the existing problems of its capital structure.The fourth part takes CFLD as an example,and analyses the problems encountered by the company in its current operation from three perspectives: horizontal,vertical and financing channels.Combining static optimization with dynamic optimization,this paper clarifies the happy and reasonable capital structure of Cathaysia and puts forward some suggestions,such as seeking strategic partners,controlling investment costs,balancing the debt structure of enterprises,introducing external shareholders appropriately,and further broadening financing channels.The sixth part summarizes the whole paper in an attempt to find optimization for China's real estate listed companies.The ideas and methods of capital structure enable enterprises to achieve the established objectives.