房地產(chǎn)融資外文翻譯(共6頁)

1、精選優(yōu)質(zhì)文檔-傾情為你奉上外文資料及中文譯文Real estate finance researchTrigeorgis L.Along with the rapid development of Chinas economy, the real estate industry has been developed rapidly. Now growth for the pillar industry of the national economy. The real estate industry is a very big of capital demand of industry, be

2、longs to the capital intensive. Therefore, the financing of real estate enterprises are particularly important. But many foreign real estate development and the higher levels of our country, the real estate finance still exist many deficiencies.Based on the real estate enterprises of China for the p

3、urpose of financing channels, in real estate enterprise financing system of foreign real estate enterprise financing theory, and the financing channels of practical experience, the choice for real estate enterprises in China and the financing channels of financing choice theory and practice of the c

4、urrent situation of the basis, to study based on real estate enterprise financing channel optimization measures. In real estate enterprise financing theory, mainly discusses the concepts of real estate enterprise financing theoretical connotation, the real estate and financial relationship of real e

5、state industry, and the important function, Analyzed the influence of the real estate enterprises to choose the financing channels of financing costs, the main factors: the enterprise internal management status, securities market conditions and the overall economic environment, Think of the estate e

6、nterprise financing channel selection principles mainly includes the benefit principle, principle, the principle of credibility of related research achievements in theory are reviewed. In foreign real estate enterprise financing channels of financing and choose from the overall experience in practic

7、e, analysis and typical countries both practical experience, analysis the United States and Singapores actual operation method. Summarized the main inspirations: one is to improve the financial market, real estate, Two is to realize the financing channels of diversification, Three is to perfect loan

8、 guarantee system, Four is to have plenty of financial instruments.On the analysis of the real estate enterprise financing and the financing channels, to present choose bank loans, bonds, equity financing, utilizing foreign investment, real estate trusts, pre-sales, self-raised funds etc existing re

9、lated financing channel are analyzed, based on the current real estate enterprises in China are summarized, the main problems of financing, financing channels, including rely heavily on bank lending, self-capital is seriously insufficient, imperfect system, etc. Think of these issues for real estate

10、 enterprises, and restricted bank financing for enterprise and the development of national economy and even bring a lot of risks, including the liquidity risk, debt risks, the risk of bubbles. In the paper, on the basis of the research in Chinas real estate enterprise financing problems and optimize

11、 our real estate enterprise financing channels of actual need, from constructs diversified financing mode, construct different development stages of the estate enterprise financing channels, real estate enterprise financing optimized supporting system discussed in real estate enterprises are put for

12、ward the countermeasures of financing channels.Finally, the paper summarizes the research conclusion, pointed out the shortcomings of the research. The real estate as backbone industries of national economy, the development of the national economy plays an important role. While the real estate indus

13、try is a typical capital-intensive, sufficient funds to support the development of real estate industry is very important. Chinas real estate industry, since 1998 in nine consecutive maintain growth than GDP growth in the countrys situation, on the macro control of the real estate bubble, issued on

14、land, the financial aspects of policies and regulations, for real estate development of the real estate enterprises limited capital chain, facing the increasingly serious challenges. How to solve the development of real estate, is already each capital bottleneck for real estate enterprises are faced

15、 with the problem of major urgently to be solved. At present, Chinas real estate enterprise mainly rely on bank loans capital demand, a large enterprise started listing. However, only in this way can very good two real estate enterprises in solving capital requirements of small and medium-sized ente

16、rprises, especially for real estate. So real estate fund, real estate investment trust and other financial innovation. ZhangWen of real estate industry through its own characteristics and the real estate industry has greater influence on the relevant factors were studied, and discusses the current d

17、omestic real estate enterprise financing channel and characteristics. Based on the current real estate enterprise financing characteristics were analyzed and the scientific demonstration, using the system, the development view of Chinas real estate enterprises, this paper expounds the existing probl

18、ems, and puts forward some improvement Suggestions of financing strategy. And through the analysis of the advantages and disadvantages of various main financing constraints and cost, policy, summarizes and real estate enterprises must adopt diversified financing mode, according to the different life

19、cycle stages to choose appropriate oneself of financing mode, in order to better solve the financing difficulties of problem .China real estate enterprise financing theory to study late, so for the Chinese real estate enterprise financing theory research is still in the initial stage of Chinas real

20、estate enterprises, especially the financing efficiency of in-depth research, especially in China real estate enterprise most small scale, credit, and financial market imperfection of factors such as the study more real estate enterprise financing efficiency of complexity. Therefore, the research of

21、 real estate enterprise financing efficiency and the corresponding institutional arrangement has important realistic meaning and theoretical significance. This is based on the background, capital input and output from the perspective of the estate enterprise financing efficiency, in order to improve

22、 the development of real estate enterprises in China.From the Angle of enterprises, the microstructure with real estate enterprise as the research object, the input-output efficiency, financing theory, information asymmetry theory, based on the theory of efficiency, using knowledge of economics and

23、the number of operations, empirical analysis and correlation analysis, the qualitative analysis with quantitative analysis method, from two aspects of theory and empirical analysis of the Chinese real estate enterprise financing efficiency. First, in the current studies on the financing efficiency a

24、nalysis and based on the analysis of this enterprise, established the financing efficiency of meaning, Second, based on the theory of supply and demand, supply and demand from the capital and capital financing equilibrium analysis of the estate enterprise capital supply and demand, Chinas real estat

25、e enterprise mechanism; the effectiveness of the money supply, Third, on the basis of theoretical analysis, using DEA method of Chinas real estate enterprise financing efficiency measurement and evaluation, Fourth, based on the principle of efficiency, discusses the choice of the financing way of re

26、al estate enterprises and real estate enterprise financing efficiency of ascension path: finally, draw the conclusion: the Chinese real estate enterprises financing efficiency is low, the overall efficiency of the enterprises in the most obvious in the unit, the increasing return to scale, most of t

27、he DEA efficiency, low value standard of real estate enterprises should through the financial system and capital control and management, the development of diversified financing channels of financing costs, reduce real estate enterprises to improve the organizational performance for real estate ente

28、rprises, strengthening the construction of enterprise system, perfect the corporate governance structure, perfect the enterprise information disclosure, set up the good credit concept, strengthening the estate enterprise management innovation, cultivating the core competitiveness of the real estate

29、enterprises and other measures to improve the efficiency of financing for real estate enterprises.中文譯文房地產(chǎn)融資的研究格瑞斯李隨著中國經(jīng)濟(jì)的快速發(fā)展,房地產(chǎn)業(yè)也得到了快速發(fā)展。現(xiàn)已成長為國民經(jīng)濟(jì)的支柱產(chǎn)業(yè)。房地產(chǎn)業(yè)是一個對資金需求量非常大的行業(yè),屬于資金密集型行業(yè)。因此,融資對房地產(chǎn)企業(yè)來說就顯得尤為重要。但是和國外很多房地產(chǎn)業(yè)發(fā)展水平較高的國家相比,我國的房地產(chǎn)金融還存在很多的不足。本文以優(yōu)化我國房地產(chǎn)企業(yè)融資渠道為目的,在系統(tǒng)探討房地產(chǎn)企業(yè)融資的理論、國外房地產(chǎn)企業(yè)融資及融資渠道選擇的實踐

30、經(jīng)驗、我國房地產(chǎn)企業(yè)融資及融資渠道選擇的現(xiàn)狀等理論依據(jù)和實踐依據(jù)的基礎(chǔ)上,去研究探索優(yōu)化我國房地產(chǎn)企業(yè)融資渠道的對策措施。在房地產(chǎn)企業(yè)融資理論方面,主要探討了房地產(chǎn)企業(yè)融資相關(guān)概念的理論內(nèi)涵、房地產(chǎn)業(yè)和金融業(yè)的關(guān)系、金融業(yè)對房地產(chǎn)業(yè)的重要作用;分析了影響房地產(chǎn)企業(yè)選擇融資渠道的主要因素:融資成本、企業(yè)內(nèi)部的經(jīng)營狀況、證券市場條件和總體經(jīng)濟(jì)環(huán)境;認(rèn)為房地產(chǎn)企業(yè)選擇融資渠道的原則主要包括效益原則、比例原則、信譽原則，對相關(guān)研究的理論成果進(jìn)行了綜述。在國外房地產(chǎn)企業(yè)融資及融資渠道選擇的實踐方面,從總體經(jīng)驗分析和代表性國家實踐經(jīng)驗兩個層面進(jìn)行考察,分析了美國和新加坡的實際運作方法?？偨Y(jié)歸納得到以下主要

31、啟示:一是要健全房地產(chǎn)金融市場;二是要實現(xiàn)融資渠道的多元化;三是要完善貸款擔(dān)保制度;四是要具有豐富的金融工具。在分析我國房地產(chǎn)企業(yè)融資及融資渠道選擇現(xiàn)狀方面,對銀行貸款、債券融資、股權(quán)融資、利用外資、房地產(chǎn)信托、房屋預(yù)售款、自籌資金等現(xiàn)有相關(guān)融資渠道進(jìn)行了分析,在此基礎(chǔ)上歸納了目前我國房地產(chǎn)企業(yè)融資存在的主要問題,包括融資渠道單一、嚴(yán)重依賴于銀行貸款,自有資金嚴(yán)重不足,制度不健全等。認(rèn)為這些問題制約著房地產(chǎn)企業(yè)融資,給企業(yè)和銀行甚至國民經(jīng)濟(jì)發(fā)展帶來諸多風(fēng)險,包括流動性風(fēng)險、債務(wù)性風(fēng)險、產(chǎn)生泡沫的風(fēng)險等。論文在上述研究的基礎(chǔ)上,針對我國房地產(chǎn)企業(yè)融資存在的問題和優(yōu)化我國房地產(chǎn)企業(yè)融資渠道的實際需

32、要,從構(gòu)建多元化融資方式、構(gòu)建房地產(chǎn)企業(yè)不同發(fā)展階段的融資渠道組合、優(yōu)化我國房地產(chǎn)企業(yè)融資渠道支撐體系等方面論述提出了優(yōu)化我國房地產(chǎn)企業(yè)融資渠道的對策措施。最后,總結(jié)了論文研究的主要結(jié)論,指出了論文研究存在的不足之處。房地產(chǎn)業(yè)作為國民經(jīng)濟(jì)支柱性產(chǎn)業(yè),對國民經(jīng)濟(jì)的發(fā)展起著舉足輕重的作用。同時房地產(chǎn)業(yè)是一個典型的資金密集型產(chǎn)業(yè),充足的資金支持對房地產(chǎn)業(yè)的發(fā)展至關(guān)重要。我國房地產(chǎn)行業(yè),自從1998年開始連續(xù)9年保持了增長遠(yuǎn)高于GDP增長的態(tài)勢,國家為了在宏觀上控制房地產(chǎn)泡沫的出現(xiàn),出臺了各項關(guān)于土地、金融等方面的政策法規(guī),對房地產(chǎn)開發(fā)做了一定程度的限制,房地產(chǎn)企業(yè)的資金鏈面臨著日益嚴(yán)峻的挑戰(zhàn)。如何解決房地產(chǎn)業(yè)發(fā)展的資金瓶頸,已是每個房地產(chǎn)企業(yè)都面臨的亟待解決的重大問題。目前,我國的房地產(chǎn)企業(yè)主要依靠銀行