论房地产企业财务风险——以A地产公司为例

论文总字数：18841字

摘 要

习近平指出：“坚持房子是用来住的、不是用来炒的定位”。近年来，城市建设规模不断扩大，人民对居住房屋的需求也在不断增加。借着这个机会，房地产行业也迎来了新的“上升期”，并与信息产业、旅游业一同被国务院确定为新的经济增长点。由此来看，房地产业在未来一段时间依然能够为GDP增长和经济增长提供强大助力。

房地产业的发展起点是巨大的资金投入，这就意味着其在取得预期的高收益之前，必须一直承受着巨大的财务风险。“高投资、高风险、高收益”也就成了房地产业的代名词。房地产业的自身特点决定了其在先期筹资到资金回收这一漫长区间内都必须正视财务风险的存在，且努力寻找有效的防范措施来应对无时无处不在的财务风险。

本文首先介绍了研究背景、研究目的及意义、研究内容和主要框架。总结了房地产行业发展现状以及必须正视的财务风险。之后对此前专家学者们的研究方法及结果进行了分析，并对财务风险管理理论相关概念进行了阐述。进而引出房地产企业财务风险现状、内容并分析其成因，列举房地产企业部分现行有效的风险防范措施并提出笔者意见。本文以国内房地产龙头企业A地产公司为研究对象，对其相关财务指标进行分析，查找公司当前存在的财务风险并提出相应的防范措施。最后得出本文结论。

本文以实际企业为例，结合企业财务风险相关理论，对房地产企业财务风险进行系统研究，寻找有效的风险防范措施，为房地产企业财务风险管理提出自身的看法与见解。

关键词：房地产企业；财务风险；风险预警；风险管理

On the Financial Risk of Real Estate Enterprises :A Case Study of Real Estate A

Abstract

Xi Jinping pointed out: "To insist on the house is to live in, not to locate the speculation." In recent years, the scale of urban construction has continued to expand, and people’s demand for residential houses has also continued to increase. With this opportunity, the real estate industry has also ushered in a new “rise period” and together with the information industry and tourism industry has been identified by the State Council as a new economic growth point. From this point of view, the real estate industry will continue to provide a powerful boost to GDP growth and economic growth for some time to come.

The starting point for the development of the real estate industry is a huge amount of capital investment, which means that it must always bear a huge financial risk before it can achieve the expected high returns. "High investment, high risk, high yield" has become synonymous with the real estate industry. The characteristics of the real estate industry determine that it must face up to the existence of financial risks in the long period from the initial fundraising to fund recovery, and strive to find effective preventive measures to cope with financial risks that are everywhere and everywhere.

This article first introduces the research background, research purpose and significance, research content and main framework. Summarized the development of the real estate industry and the financial risks that must be addressed. After that, the research methods and results of the former experts and scholars were analyzed, and related concepts of financial risk management theory were elaborated. Then it elicited the status and contents of financial risks of real estate companies and analyzed their causes. It listed some of the current effective risk prevention measures of real estate companies and put forward the author"s opinions. This article takes A real estate company, a leading domestic real estate company, as the research object, analyzes its related financial indicators, finds the company"s current financial risks and proposes corresponding preventive measures. Finally, we draw the conclusion of this paper.

This article takes an actual enterprise as an example, combines the theory of corporate financial risk, conducts a systematic study of the financial risks of real estate companies, finds effective risk prevention measures, and puts forward their own views and opinions on real estate companies" financial risk management.

Keywords: Real estate; Financial Risk; Risk Warning; Risk Management

目 录

摘 要 I

Abstract II

第一章 绪 论 1

1.1 研究背景 1

1.2 研究目的及意义 1

1.3 研究方法及内容 1

1.4 论文框架 2

第二章 文献综述及相关理论概述 3

2.1 文献综述 3

2.2 理论概述 4

第三章 房地产企业财务风险内容、特点、表现形式与成因 5

3.1 房地产企业财务风险的主要内容 5

3.2 房地产企业财务风险的特点 5

3.3 房地产企业财务风险表现形式 5

3.4 房地产企业财务风险成因 6

第四章 房地产企业财务风险防范措施 8

4.1 投资项目前综合预测 8

4.2 提高对政策及市场的应变能力 8

4.3 重视资金利用率 8

4.4 建立完善的财务风险预警体系，优化企业资本结构 9

4.5 加强企业内部管理，重视财务人员工作培训 9

第五章 案例分析：A地产公司财务风险分析 11

5.1 A地产公司简介 11

5.2 A地产公司财务指标分析 11

5.3 A地产公司财务风险分析 13

5.4 A地产公司财务风险防范建议 14

结 论 15

致 谢 16

参考文献（References） 17

第一章 绪 论

1.1 研究背景

“安得广厦千万间，大庇天下寒士俱欢颜，风雨不动安如山。”房屋一直以来都是人类生活最基本的需求之一。近年来，城市建设规模不断扩大，人民对居住房屋的需求也在不断增加。借着这个机会，房地产行业也迎来了新的“上升期”。而在房地产业迅猛发展的同时，也兴起了一个依托房地产业，对房地产业发展影响巨大的组织——炒房团，他们利用手中资源，在开盘之初就将房源控制在手中，而后哄抬房价再转手，从中获利。媒体针对炒房团与炒房行为的报道层出不穷，也引来的人们的激烈讨论，反对者与支持者也都发表了自身的意见。但是，由于现行法律不健全，很少有人从法律的角度对其进行深入解读，国家虽然出台了针对房地产业的宏观调控政策，但也并未真正提及炒房团及其行为。

2016年3月，备受关注的江苏首例房地产企业(隆盛公司)破产重整案在政府、法院和管理人的合力下成功重整。而在此之前，房地产企业因财务风险而面临破产的无时不有。因此，企业只有自身提升管理水平，增强风险防范意识与防范能力，才能在经济发展的大潮中立于不败之地。

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