and on long terms, the trust investment mode of operation form of the fund as the major financing way adopted by the real estate trade that develop into the advanced stage, will offer the platform for charging the renting type property and large-scale real estate enterprise finance mainly.
In recent years, our country has raised the credit threshold of real estate enterprise twice and stipulated all land must be auctioned publicly in order to standardize the development of real estate industry.
So, this text attempts to seek a way of capital operation which is effective to real estate enterprise of our country, thus realize the final purpose of the capital operation — Win maximum appreciation with the limited capital.
According to essential theory of modern financial management, this text has discussed idiographic approach and manner to optimize capital structure in environment of fury market competition. In order to account for this, this text have also integrated current development of estate enterprise in our country and newly domestic financing manner in estate (financing on the market of estate enterprise, entrusting financing of estate, fund financing of estate ).
On the base of theoretical analysis, we have united " New Century -LiJing garden " item empoldered by Sichuan Zhongtuo Estate Joint-Stock Limited Company for case analysis. Finally we have explained how to operate in the process of financing management and optimizing capital structure of estate enterprise in order to guide from qualitative management to quantitative analysis of fund manipulation in estate company.
II On the base of analyzing actuality about capital structure of estate enterprise in our country, exemplify basically determinative methods about capital structure and quantitative analytical method of enterprise risk;
The impact of financing decisions on the security returns of real estate corporations
This research investigates the valuation impact of financing decisions on the common stock of real estate corporations.
When a firm borrows against its fixed assets, its borrowing capacity depends upon the collateral value: quantity times "collateral price". The firm's outstanding debt obligation is the result of its past borrowing. Hence, there is a leverage effect: the firm's net worth is vulnerable to changes in asset prices. This is the source of contagion. The changes of real estate prices will cause shocks to spread out across banks.