綠地房地產公司財務風險研究外文翻譯

1、畢業(yè)論文外文翻譯課題名稱： 綠地房地產公司財務風險研究 院 系： 經濟管理學院 專 業(yè)： 工商管理（金融企業(yè)管理方向） 姓 名： 指導教師： 二一五年十月十三日外文翻譯專業(yè)：工商管理（金融企業(yè)管理方向） 班級：12級本科1班 作者 指導老師：on the real estate business and guard against financial riskspaper keywords: real estate enterprises financial risk preventionabstract: since the 1990s, national housing policy ch

2、anges, the rapid development of chinas real estate to make the face of increasingly fierce market competition, the real estate industry show high-risk, high-yield characteristics, how to effectively avoid and reduce financial risk, the real estate business survival and development are of vital impor

3、tance, so real estate companies should actively establish mechanisms for risk identification and avoidance mechanisms, through to prevention, to resolve the matter in such models, enhance their financial strength, enhance their competitiveness.first, the definition of financial risknarrow funding re

4、fers only to the risk of financial risk, refers to the business caused by the borrowing of funds to repay maturing debt with the money funds the uncertainty, there is no financial risk of debt does not exist, while the broad sense of the financial risk is the risk as a business one, specific to ente

5、rprises in the production and management of campaign funds (including fund-raising, financing, investment and use of funds, etc.), due to internal and external environment and a variety of unpredictable or uncontrollable factors, but in time the actual financial income and the expected return deviat

6、ion occurs, thus the risk of loss of all it is the whole process of corporate financial activities and financial nature of the overall financial perspective to define the concept of financial risk in the market economy, all the financial risk throughout the enterprise financial aspects of a variety

7、of risk factors in corporate financial embodied from the perspective of financial risk early warning, corporate financial risk is not limited to risks arising from financing activities, improper investment activities, operating activities, distribution of activity could lead to companies facing the

8、same risk, therefore, this paper argues, reflects the broad financial risks of financial nature, can truly reflect the market economy, the relationship between corporate financial picture, such a definition is more scientific and rational.second, the real estate division of corporate financial riskt

9、he real estate industry is capital-intensive industries from the source of funds of financial risk, mainly financing risk, investment risk and the risk of capital return.(1 financing risks. chinas real estate development whose main motivation is money-driven in current mode, real estate business gen

10、erally low proportion of own funds, mainly used to solve the problem of land costs, and for later development, it is more through a variety of financing instruments and pre-sales money recovered to be addressed, so the real estate business bank funds capital chain important part of many real estate

11、companies with high debt levels despite the high cost of capital and to bring due the risk of debt servicing can not be blind, large-scale mobilization of capital has brought greater financial risk, mainly features: large size of the debt, high interest rates caused by high financing costs. debt mat

12、urity structure is irrational, resulting in excessive concentration of debt maturity, or due to lack of funds or failure to timely complete the marketing plan which led to financial crisis in extreme cases, there is a risk of capital-strand breaks, thus creating a risk financing.(2 investment risk i

13、n the long development cycle of real estate, there are many uncertainties that business investment projects for development the success and economic efficiency of enterprises play a decisive role due to uncertain factors, leading real estate project can not achieve the expected benefits, thus affect

14、ing the profitability and solvency risk is investment risk. in reality, most too much emphasis on large real estate companies to raise funds on large projects, the pursuit of high-yield, real estate development and investment during the course of the neglect of the market and feasibility analysis an

15、d evaluation of projects, which were as follows: investment in technology can not line or not yet mature, market research is wrong, after the slow-moving market, behind; investment project planning is too large or too small, or the inability to control excessive expansion of the industry management,

16、 debt ratio is too high resulting in heavy debt burden, technology and market conditions occur changes in business investment projects leading to the actual income and the expected income difference is too large, etc., the time span and the breadth of space necessary for the future development of th

17、e financial activities and increased uncertainty.(3 recovery of funds risk is the risk of capital recovery room real estate companies to develop another form of financial risk. mainly in real estate development products can be sold to the state, due to policy reasons or self-marketing tool mistakes,

18、 poor sales led to making the reimbursement is slow, the balance due to the enterprise itself high level of recovery of funds if the funding needs can not be synchronized, it will cause a sharp decline in the solvency of enterprises, and renewed pressure on cash expenditures, and then in financial d

19、ifficulties, the companys image and reputation has been severely damaged, and even lead to bankruptcy.third, the real estate business financial risk(1 a reasonable financial budget to implement due to financial budget in the implementation process, there are many uncertainties, leading real estate c

20、ompanies in the development process of operating cycle may be a lot of problems, which directly related to the business success of investment projects, also economic benefits to the enterprise caused considerable negative impact. the real estate corporate finance department should the project budget

21、 and capital budget as a prerequisite for the specific arrangements for reasonable business capital investment projects, the proportion of income, profits and capital to get adjusted. in their daily work management, assessment can be taken monthly, quarterly review, annual summary combined in variou

22、s ways, give full play to the companys financial functions.(2 implementation of liquidity management corporate real estate development projects often require a long time to end, due to long development cycle that often characterized by the use of funds would create difficulties for enterprises, if a

23、 link in the chain of funds abnormal, it will cause a capital chain rupture, and even lead to bankruptcy, which requires companies to strengthen the management of liquidity in the financial revenue and expenditure estimates to be strict with the review of the funding schedule and reasonable arrangem

24、ents to ensure that construction projects, construction operations and marketing funds to meet specific needs but also accelerating the flow of funds expenses, optimize inventory structure to minimize the amount of capital stock, so that enterprises in the economys ability to pay has been strengthen

25、ed, to promote increased corporate reputation, to the next laying a good foundation financing.(3 to achieve the optimal capital structure. real estate companies should continue to improve their capital structure, debt management for proper control, to fully estimate the firms solvency in the case th

26、rough legal means to raise funds to meet the business development in the traditional way of raising funds can be in accordance with the principles of financing multi-style scientific and more reasonable distribution of the external reserves, interest in the coordination of capital ratios to ensure t

27、he effectiveness ratio, the debt ratio to a minimum, so that enterprises in the financial preparations to avoid facing greater pressure to greatly reduce the financial risk which requires the relevant departments on the sale of the housing fund, reimbursement and other traditional bank financing cha

28、nnels to strengthen the management, but also to ensure the recovery of funds in place on time, to avoid waste of money, companies can take advantage of stocks, bonds, co-operation, etc. upgrade their capital reserves so that the scale of business operations has been expanded so that more investors a

29、nd enterprises cooperation and exchanges, expanding business cooperation of the project investors and for reducing the financial risk control can play good results.(4 improve the overall quality of the real estate business management as decision-makers to enhance financial management responsibility

30、and mission to continuously improve their decision-making capacity, continue to learn and master new management techniques and methods to improve the quality of their own political self-cultivation. through experience and their ability to carry out scientific judgments and policy decisions, to minim

31、ize financial risk while still under the modern enterprise system for high-efficiency objective requirements of scientific management, to change the past emphasis on real estate sales, financial management ignored the old management. enhanced accounting supervision of staff awareness and urge accoun

32、tants accounting in accordance with law and accounting oversight. iv conclusionin summary, due to its large amount of investment real estate companies, project development cycle is long, slow recovery of the special funds, the investment income are vulnerable to socio-economic environment and govern

33、ment policies, so that a high-risk real estate investment economic activity, while the real estate industry is also high-risk industry, real estate investment companies must be accompanied by investment risk. real estate investment enterprises in the former, should be rigorous market research, caref

34、ul risk analysis project, the projects expected return for a reasonable prediction, determine the reasonableness and feasibility of the project investment program. in short, in the increasingly fierce market competition , the real estate business in order to gain a sustainable competitive edge, comp

35、anies must be integrated to improve the level of financial risk management, as much as possible to avoid risks, to get the maximum benefit.論房地產企業(yè)防范金融風險關鍵詞：房地產 企業(yè)財務 風險防范摘要：自20世紀90年代以來，我國房地產行業(yè)的快速發(fā)展使得面對日益激烈的市場競爭，房地產行業(yè)表現(xiàn)出高風險、高收益的特點，如何有效規(guī)避和降低財務風險，對房地產企業(yè)的生存和發(fā)展至關重要，因此房地產企業(yè)應積極建立風險識別和規(guī)避機制，以解決此類問題，增強自身的財務實力，增

36、強自身競爭力。一、金融風險的定義狹窄的資金僅指財務風險，是指資金借貸造成償還到期債務與貨幣資金業(yè)務的不確定性，沒有金融債務風險不存在，而金融風險是廣義的風險作為業(yè)務之一，在競選資金生產經營企業(yè)的具體（包括籌資，融資，投資和資金的使用，等等），由于內部和外部環(huán)境及各種難以預料或無法控制的因素，但在時間的實際財務收益與預期收益發(fā)生偏離，從而損失的風險都是整個過程中企業(yè)財務活動和財務性質的整體財務視角的概念界定財務風險在市場經濟中，所有的財務風險貫穿于企業(yè)財務方面的各種風險因素在企業(yè)財務表現(xiàn)視角的金融風險預警，公司利率金融風險不僅限于籌資活動、投資活動不當、經營活動、分配活動可能導致公司面臨同樣的風

37、險，因此，本文認為，反映了金融本質的廣闊風險，才能真正反映市場經濟，企業(yè)財務狀況之間的關系，這樣的定義更科學合理。二、房地產企業(yè)財務風險劃分房地產行業(yè)是資金密集型產業(yè)，資金來源主要來自金融風險，主要是融資風險、投資風險和資金回流風險。1、融資風險。中國的房地產發(fā)展的主要動機是金錢在電流模式的推動下，房地產企業(yè)的自有資金比例普遍較低，主要用于解決土地成本的問題，對今后的發(fā)展，它更多的是通過各種融資工具和預售款項予以解決，所以房地產商業(yè)銀行資金資金鏈的重要組成部分，具有很高的債務水平，許多房地產企業(yè)盡管資金成本高和帶由于債務償還風險不能盲目，資本大規(guī)模動員帶來了更大的金融風險，主要表現(xiàn)在：對債務規(guī)

38、模大，融資成本高造成的高利率。債務期限結構不合理，導致債務到期過度集中，或因資金不足或未能及時完成營銷計劃，導致金融危機在極端情況下，存在資金鏈斷裂的風險，由此創(chuàng)造一個風險融資。2、投資風險的房地產開發(fā)周期長，有很多不確定因素，企業(yè)投資項目的成功和經濟效益的企業(yè)發(fā)揮決定性作用，由于不確定因素，導致房地產項目不能達到預期的收益，從而影響盈利能力和償債能力的風險是投資風險。事實上，大型房地產企業(yè)大多數(shù)強調太多大型項目籌集資金，追求高收益，對市場的可行性分析和項目評價忽視的過程中，房地產開發(fā)投資，即：技術投資不能行或尚未成熟，市場研究是錯誤的，緩慢移動的市場后，在項目規(guī)劃；投資太大或太小，或無法控制的行業(yè)管理的過度擴張，負債率太高，造成沉重的債務負擔，技術和市場條件發(fā)生在商業(yè)投資項目的實際收益與預