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A Study on Similar Financial Model in Real Estate Sector

In: Proceedings of 20th International Conference on Industrial Engineering and Engineering Management

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  • Yi-chun Li

    (CAS)

Abstract

In this paper, we subdivide the sample of real estate listed companies selected from the two stock exchanges in China from the year 2001–2012 into two categories: firms which adopted the similar financial model and firms which did not adopt. T-tests and nonparametric tests are used to explore the differences between the two categories in funds management, assets structure, liability structure, profitability, liquidity and growth rate. The results show that firms which adopted the similar financial model have faster assets turnover and higher Debt Ratio (DR), thus have higher growth rate and better profitability. The regression analysis results further show that Return on Invested Capital (ROIC) of similar-financial-model firms are significantly correlated with Net Profit Margin (NPM) positively and with the Ratio of Net Commercial Credit to Sales Revenue (NCCSR), Cash Conversion Cycle (CCC), Financial Expense Ratio (FER) and the Ratio of Interest–bearing Liabilities to Debt (IBDR) negatively. Moreover, negative relationship between ROIC and GROUP demonstrates that firms which adopted similar financial model have better profitability than firms which did not adopt.

Suggested Citation

  • Yi-chun Li, 2013. "A Study on Similar Financial Model in Real Estate Sector," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), Proceedings of 20th International Conference on Industrial Engineering and Engineering Management, edition 127, pages 329-336, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-40072-8_32
    DOI: 10.1007/978-3-642-40072-8_32
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