Proceedings of the 2019 International Conference on Economic Management and Cultural Industry (ICEMCI 2019)

Research on the Impact of Debt Structure on Corporate Performance of Listed Real Estate Companies

Authors
Zhengchao Zhang, Tong Sun
Corresponding Author
Tong Sun
Available Online 20 December 2019.
DOI
10.2991/aebmr.k.191217.139How to use a DOI?
Keywords
Debt structure, Financial performance, Real estate
Abstract

Real estate companies are one of the most active forces in economic activities and occupy a large market share in China. Data of real estate listed companies from 2016 to 2018 are selected as samples to be listed on the Shanghai and Shenzhen stock exchanges. This paper studies by establishing panel data model, and used Stata15 software to empirically test different debt structures and whether debt levels affect performance. By processing the data, we can know that the higher the level of debt, the lower the company’s performance, and performance will also improve as the proportion of short-term liabilities in the debt structure increases. The conclusion of this text shows that under the macro-economic background of deleveraging in China, real estate companies should reduce overall debt levels to reduce financial risks, and actively respond to national policies. In the structure of liabilities, the proportion of current liabilities should be appropriately increased to restrain the agent, reduce the risk investment behavior, and increase the business performance.

Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2019 International Conference on Economic Management and Cultural Industry (ICEMCI 2019)
Series
Advances in Economics, Business and Management Research
Publication Date
20 December 2019
ISBN
978-94-6252-866-6
ISSN
2352-5428
DOI
10.2991/aebmr.k.191217.139How to use a DOI?
Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Zhengchao Zhang
AU  - Tong Sun
PY  - 2019
DA  - 2019/12/20
TI  - Research on the Impact of Debt Structure on Corporate Performance of Listed Real Estate Companies
BT  - Proceedings of the 2019 International Conference on Economic Management and Cultural Industry (ICEMCI 2019)
PB  - Atlantis Press
SP  - 779
EP  - 783
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.191217.139
DO  - 10.2991/aebmr.k.191217.139
ID  - Zhang2019
ER  -