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ID:32076207
大小:2.66 MB
页数:45页
时间:2019-01-31
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1、AbstractTheReal.EstateindustryinChinanowisinthefast—growingstageafterthedepressioninyear2008.Asthereal-estatepricesgoingup,moreandmoreargumentsaboutwhetherthisindustryisgettingtoohi曲comeout.Istherebubblesemergingorisitdevelopinginahealthyway?Thetrendsofdevelopmentof
2、China’SReal—EstateindustryappearSOimportantinyear2010thatitdirectlyconcernsabouttheproblemofChina’Sgoingoutofthefinancialcrisis.Ⅵmilethesplitsharestructurereformdrawingtoclose,China’SstockmarketiSsteppingintotheeraofallstockstradable.AndbynOWtherunningofstockmarketc
3、analmostreflectthechangesofChina’seconomy.So,analysisofthestockpricesofReal.Estatelistedcompanies,CanobjectivelyevaluatetherisksappearinginReal—EstateindustryinChina,andmakesgreatvaluetotellthedevelopmenttrendsofChina’Seconomyinfuture.ThisPapel"appliedthevalueapprai
4、saltheoreticalmodelintheReal—Estateindustry.Firstly,foIll"kindsofvaluationmodelsusedwerefullyanalyzed:assetbasedvaluationmodel,cashflowsdiscountvaluationmodel,relativevaluationmodelandequityvaluationmodel.Andeachmodel’SapplicabilityinReal—EstateindustryWasdiscussed.
5、Secondly,thecurrentsituationandthefeatureofReal-Estateindustrywereelaborated:mainlyfocusedontheamountoflandpurchase,thegrowthrangeofcapitalandprofit,thedebtsituationoftradeproperty.Thirdly,theoreticalexplorationWascarriedonthevalueappraisaltheoreticalmodeloftheReal—
6、Estatelistedcompanies,mainlyusingthesimpleandwidelyusedcashflowsdiscountvaluationmodel.Afterthecomparisonbetweendifferentmodels:discountmodelandEVA.,DDMandFCFA,FCFEandFCFF,themodelUSedinthisPapel"wasdefined.Finally,therepresentativeReal.Estatedevelopmentcompany_elyR
7、ealEstateWaschosentobetheexampletoruntherealdiagnosisresearch,andrelatedresultswet0obtained.Thispaperutilizedthecompanycashflowsdiscounttheorytoconducttherealdiagnosisresearch,andthedatawerecollectedinannualreportofPolyRealEstatefromyear2007·2009.ApplingtheHtwostage
8、sdiscounttheoryframeasbasic,andEXCELsoftwareasanalysistool,thestateoperationandintrinsicvaluesofPolyRealEstatewereconductedthroughthedata,
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