Real Estate Enterprise Capital Structure Analysis and Optimization—The Case Study of Kaisa Group
- 1 Management School, Jinan University, Guangzhou, China
Abstract
Real estate industry is one of the pillar industries of the national economy. As the real estate industry develops rapidly, this capital-intensive industry’s funds demand is soaring. Therefore, in order to guarantee the healthy development of the real estate industry, a reasonable structure of enterprise capital is very important. From the perspective of corporate capital structure, this article takes Kaisa as an example for analysis. Kaisa’s financing activities in recent years are combined to understand the overall financing situation, and then adopt relevant financial indicators to analyze Kaisa’s solvency comprehensively. After the defects of capital structures are identified, several suggestions in optimizing capital structure will be given.
- Li, P.Y., Luo, Q.S. and Ao, L.F. (2005) The Analysis of Capital Structure of Chinese Real Estate Listed Companies. Journal of Harbin Institute of Technology, 3, 291-294.
- Wang, B. and Chen, H.X. (2012) The Capital Structure of Chinese Listed Real Estate Companies. The DUT 4th International Conference on Financial Risk and Corporate Finance Management, Dalian, 7 July 2012, 567-573.
- Yang, S. (1995) The Analysis of Companies’ Capital Structure. Accounting Research, 4, 29-32.
- Wang, X. and Wang, L. (2012) A Research on Financial Contingency Theory of Capital Structure Adjustment—The Case Study of J Group. Accounting Research, 10, 65-96.
- Zhao, D.Q., Zhu, W.X. and Wang, Z.W. (2008) Macroeconomic Control and Real Estate Industry Capital Structure Adjustment. Journal of Financial Research, 10, 78-91.