Research On Investment Behavior And Economic Consequences Of Real Estate Enterprises Under Strategic Transformatio

The development direction of real estate enterprises is gradually clear,the golden age is over,the dividend is declining,and the macro environment changes make strategic transformation become one of the important path choices for the sustainable development of the industry.Meanwhile,under the reform of the investment and financing system,investment has become the main way to rationally allocate assets in the market environment.The Central Economic Conference also proposed that the real estate industry should explore a new development model.At present,90% of the real estate enterprises are implementing transformation strategy,but there are frequent "thunder" incidents.Whether strategic transformation can become an important road for the sustainable development of enterprises,how to use transformation to realize the healthy development of enterprises has become a hot topic of discussion,and what role the investment behavior plays in the transformation.Real estate enterprises are also concerned about the impact on strategic transformation and enterprise development.In this context,the strategic transformation of real estate enterprises and the investment behavior in the process of transformation become the research focus.Under the change of market environment and policy environment,real estate enterprises should correctly choose the direction and mode of transformation in the dynamic environment.In this process,the investment behavior of enterprises will have different performances,mainly reflected in the change of investment direction,investment mode and investment scale.These changes will jointly affect the whole transformation process and ultimately affect the value of enterprises.The specific application is to evaluate the dynamic capability of enterprises,identify the types of strategic transformation based on the evaluation results,and then analyze the process of influence on investment behavior.This paper takes Zhongtian Financial Group Co.,LTD.,which has aroused hot discussion in the financial industry in its transformation,as the case study object.According to the strategic transformation cycle of the case company,the research period of this paper is determined to be from 2014 to 2021.Then,it introduces the enterprise’s ability to adapt to the environment of rapid change,namely the dynamic ability,analyzes its strategic transformation process,and then analyzes the change of the investment behavior of Zhongtian financial,and evaluates the economic consequences brought by the strategic transformation of Zhongtian financial through three aspects: investment efficiency analysis,financial performance analysis and market performance.Finally,it further analyzes the problems existing in the strategic transformation and puts forward relevant optimization suggestions.After the above analysis,this paper draws the following conclusions: First,the strategic transformation of Zhongtian Financial belongs to the type of strategic transformation driven by industrial development.Secondly,during the transformation,the investment direction has changed from focusing on the main real estate industry to the upstream and downstream integration and diversified operation of cross-industry investment.The investment mode tends to be direct investment under the holding mode.The investment scale grows rapidly in the early stage of the transformation and remains stable in the later stage.Finally,on the whole,the strategic transformation of Zhongtian Finance has not brought the improvement of corporate performance and there are inefficient investment phenomena.Through in-depth analysis,the main problems are as follows: 1.Radical development under policy tightening.2.There are inefficient investment behaviors.In view of the above existing problems,the author puts forward the corresponding optimization suggestions and summarizes the experience and lessons,and obtains the enlightenment:(1)rational treatment of industry development.(2)Don’t over-pursue scale investment in the transformation process.(3)Industrial coordinated development is the ultimate goal of transformation.In order to provide some reference for other enterprises that are implementing strategic transformation.