多元化经营、财务弹性与企业价值——以粤泰集团为例

经济环境不稳定性加剧，保有一定水平的财务弹性对多元化企业实现价值具有重要意义。本文从房地产多元化出发，分析了房地产财务弹性的内涵、来源、影响因素，构造房地产企业多元化经营，财务弹性与企业价值间的互动机制，得出对其资本结构决策、投资决策、分配政策、运营管理决策的影响，并结合粤泰集团的多元化进行实例论证，为房地产多元化经营的战略决策及风险控制提供指导。

Diversified Management,Financial Flexibility and Enterprise Value ——based on Yue Tai group

Economic environment instability intensified, it is of great significance to maintain a certain level of enterprise financial flexibility which implements value. From diversified real estate, it has analyzed the connotation of real estate financial flexibility, sources, influence factors, enterprise, diversified business structure, financial flexibility and the interactive mechanism between enterprise value. It is concluded that the capital structure decision-making investment decision-making, allocation policy, the influence of the operation management decisions, combined with a diversified group of Yuetai instantiate demonstration. It has provided guidance for strategic decision-making and risk control of real estate diversification