浅析集团房地产企业投资风险及控制

房地产行业的高额投资回报、使其扩张欲望强烈,许多房地产开发企业集团公司便应运而生,但其井喷式扩张、粗放型的管理,内部控制制度不完善,风险累积逐渐增大.全球性的金融海啸,将这些被隐藏的风险完全暴露出来,企业生存危机全面爆发.检视集团房地产企业内部控制管理失控引发的比较突出的重大风险是投资决策失误的风险,包括盲目追求同业高速发展及多元化(不相关行业)投资扩张的战略失误的风险.为了防止企业发生高风险投资业务,企业的决策者应建立正确的投资风险文化和意识,同时建立与加强企业管理信息化系统建设并形成一套优良的投资管理模式,完善投资风险业务控制制度,并加强监督检查.     

房地产开发项目投资的风险控制研究

作为我国国民经济支柱产业的房地产行业,对我国国民经济的持续、健康和稳健发展起了重要作用,是我国产业经济的基础性和先导性行业。房地产具有位置的固定性和不可移动性、投资额大、建设周期长、影响因素多样性等特性,使得房地产开发投资活动面临众多的风险。因此,如何有效地在项目开发阶段进行准确的市场定位,并对项目可能面临的风险进行有效控制及管理,成为了决定项目成败的关键。基于此,文章对房地产开发项目投资的风险控制进行了探究和分析,首先从理论层面分析了房地产开发项目投资的风险,分析了房地产开发项目投资风险控制的重要性,并分析了开发过程中投资风险产生的原因,提出了防范项目出现风险的控制措施,以期为我国房地产开发项目投资提供有益的借鉴和参考。     

高速公路建设项目投资内部控制探究

内部控制是高速公路建设项目投资目标得以顺利实现有力保障.本文结合内部控制思想,分析高速公路建设项目投资内部控制现状,提出了完善该项目投资内部控制的建议.     

财务监管框架下的国有企业项目投资内部控制研究

本文以某大型国企投资的多晶硅项目为例,来对财务监管框架下的国有企业项目投资内部控制进行研究.本文首先分析了国有企业项目投资内部控制主要存在的问题,其次,从加强国有企业项目投资的可行性研究、评估与决策环节的控制;加强国有企业投资业务职责分工与授权批准控制;加强国有企业项目投资活动监督检查;加强预算控制;加强全面财务成本控制;加强资产管理的内部会计控制等方面就财务监管框架下如何加强国有企业项目投资内部控制提出了自己的建议和看法,具有一定的参考价值.     

浅谈政府投资项目的投资控制

针对政府投资项目在投资控制方面存在的一些问题,站在项目工程管理专业的角度,从政府投资项目决策、可行性研究、项目初步设计、投资概算、招投标和施工阶段及监管、审计等方面,论述了政府投资项目投资控制的必要性,提出了投资控制的要点和控制方法,并向投资项目的决策层和承建者提出了一些建设性意见.     

浅谈政府投资项目的投资控制

针对政府投资项目在投资控制方面存在的一些问题,站在项目工程管理专业的角度,从政府投资项目决策、可行性研究、项目初步设计、投资概算、招投标和施工阶段及监管、审计等方面,论述了政府投资项目投资控制的必要性,提出了投资控制的要点和控制方法,并向投资项目的决策层和承建者提出了一些建设性意见.     

探讨房地产开发项目投资控制与管理

随着我国市场经济的快速发展：人们生活水平逐步提高,开发房地产市场的企业如何在日趋激烈的竞争中生存和发展,已变成房地产开发企业面临的重大问题。建设工程项目投资的有效控制是工程建设管理的重要组成部分,“以人为本”是有效控制建设工程项目投资的基础。本文以投资控制的优化设计方案、工程招投标、加强施工管理、竣工决算和审计工作等问题进行分析和探讨。     

浅析商业地产项目投资资金投入的控制

房地产建设项目投资控制是每个投资者所关心的重要内容之一,就工程项目建设而言,房地产投资控制贯穿于房地产项目建设的全过程。本文就影响投资资金投入因素、投资控制的关键以及投资控制方法进行阐述。     

房地产投资项目风险管理方法的研究

决策中对风险的估计、分析正确与否将直接影响到房地产投资项目的成功与否.本文通过分析房地产投资决策过程中面临的各种风险因素,并在此基础上建立风险管理研究模型,对风险因素进行控制,以保证房地产投资收益.     

加强政府投资项目内部控制思考

为了适用社会经济的快速发展,不断提高城市的综合实力和极大限度地满足人民群众物质和文化生活的需要,政府加大了对基础设施和社会公益事业等方面的投资,使得政府投资项目不断增加,然而由于我国政府投资项目内部控制中存在很多缺陷,导致我国政府投资项目在管理的过程还存在着一些问题,如投入与支出比例失调,工程成本难以控制等等。为此,结合平时工作和学习中就如何加强政府性投资项目内部控制谈谈几点思考。     

The risks and rewards of design investment

Cutbacks in design investment are often made in a time of recession because managers, when faced with competing demands, are unaware of the commercial value of such investment The research reported in this paper investigated the risks and rewards of investing in professional design expertise at a project or product level and found that such investment involves relatively low risks and can yield substantial rewards by opening up new markets and enhancing profitability However, management skills are needed to fully exploit design expertise Proper briefing of designers, regular communication between marketing, design and production, and effective project management can make the difference between success and failure     

如何做好当前铁路建设项目投资控制及管理工作

目前我国铁路建设项目中投资失控现象时有发生,其中原因错综复杂.随着我国社会主义市场经济的不断发展,国家对铁路建设的投资不断增加,各级领导和业主都越来越重视建设项目的投资控制和管理,想方设法采取措施来加强投资控制,尽可能的提高建设项目投资效益.     

基于竣工结算的财政投资评审方法探析

近年来,我国加大了对政府投资项目的资金评审工作,并取得了良好的经济效益和社会效益,财政投资评审对提高财政资金的有效使用发挥了积极的作用。本文结合工作经验,浅析如何做好财政投资项目工程造价结算的审核。     

Inherited corporate control and returns on investment

This paper contributes to the literature on management in family firms by investigating how succession in family firms affects returns on investment. The identities of the chief executive officer (CEO) and the chairman of the board (COB) were used to establish whether the management of the firm can be characterized as founder, descendant, or external management. A unique, unbalanced panel data set on listed Swedish firms covering the period from 1990 to 2005 was used in the analysis. The results show that founder management has a positive effect on the returns on investment in family firms, whereas descendant management has a negative impact. An external CEO as a successor in family firms leads to more efficient investment policies with increased firm value as a result. That is, when studying corporate governance in family firms it is important to account for what type of management the firm has. Further studies are required to understand the relationship between ownership, control, management, and firm performance.     

Integral decision analysis in mutually exclusive capital investment projects. Case study: Hard Rock Cafe at Riviera Maya

Brands that have worldwide recognition are perceived as profitable businesses. One of the reasons for this perception might lie in the belief that these companies usually employ some degree of financial evaluation to make the right choice in terms of investment; Hard Rock Cafe is no exception. The brand opened one restaurant in the Riviera Maya in 2011 which closed within nine months. Could a better investment decision have been made if the Hard Rock Cafe Mexico management had followed the Integral Decision Analysis (IDA) method? This method gives decision-makers a chance to analyze mutually exclusive capital budgeting projects. The case study illustrates the type of elements that the model can yield, it provides a brief explanation on how this process could have been used by the Hard Rock Cafe management and it offers an explanation on how this knowledge might have helped in supporting a final investment decision. In conclusion, the IDA method used to analyze this project might reduce the risks in capital investments.     

对外投资的财务风险管理与资本成本决策探析

从对外投资所承担的任务和目标来看,其财务风险管理较之一般产业公司的财务风险管理更重要也更具有挑战性.一个公司的资本成本应该是一种包含各种动态变化因素在内的综合成本.在很大程度上,资本成本决定着公司的一项重大资本投资决策是否正确.如果一项投资能够收回资本成本,那么对财产、设备,或另一家公司的投资决策就是明智的.     

新投资体制下集成化工程项目TCM信息管理研究

工程项目管理过程中,大量工程造价问题的成功解决均有赖于准确信息的把握。目前工程中信息不对称问题日益突显,直接影响到工程项目的方方面面,也影响着工程造价问题。为此根据我国全新的投资管理体制,结合全面造价管理核心理论的研究成果,对信息管理在全面造价管理过程中发挥关键作用进行了详细的分析和研究,并对加强工程项目信息化管理的建设提出适用性意见,建立了新投资体制下集成化TCMEM信息管理系统框架。     

Robust irreversible investment strategy with ambiguity to jump and diffusion risk

This paper constructs a robust and irreversible investment rule applicable to a series of adjacent models. The project value follows a jump-diffusion process and the investor exhibits complete ambiguity aversion or partial ambiguity aversion to the diffusion, jump amplitude, and jump frequency components. The impact of ambiguity aversion with respect to different components on the optimal investment strategy is examined. The investment decision is mainly driven by ambiguity aversion to the jump amplitude rather than frequency, and an increase in jump intensity leads to the greater importance of ambiguity aversion to jumps. We further show that ambiguity aversion regarding jumps plays a dominant role in determining the investment boundary for low volatility values, and the influence of ambiguity aversion to the diffusion part gradually outweighs that of ambiguity aversion to jumps as volatility grows.     

冶金工程造价管理存在的问题及其对策分析

冶金工程的造价管理其实质就是在工程的设计阶段、投资的决策阶段、项目的承包分配阶段以及工程建设实施阶段等阶段,严格地把冶金工程的投资额度的变化控制在限定额度的范围之内,能够及时地处理随机发生的偏差,进而保证工程项目投资管理的原定计划顺利执行,以求在整体工程中能够实现人力、物力以及财力科学合理地搭配,最终能够取得满意的社会效益以及经济收益.控制管理冶金工程造价的最关键措施之一就是认真做好各个阶段工程建设的造价管理.     

Earnings management and firms' investment behavior: The threshold effect of ROE

This paper, on the basis of a sample of Chinese listed firms, investigates the relationship between both real and accrual-based earnings management activities and firms' capital investment behavior. We apply the threshold model proposed by Hansen (1999) and find firms managing earnings can either over or underinvest, depending upon firms' return on equity (ROE) level. The study results show an inverted relationship between earnings management and firms' investment, which changes from negative to positive with ROE rising beyond certain threshold levels. We also find that the level of ROE affects whether managers use real and accrual manipulations jointly or as substitutes in affecting firms' investment. Our evidence is important because it sheds new light on the relationship between earnings management activities and firms' investment behavior by showing that ROE may act as an important determinant in this relationship. This finding has important implications for policymakers such as the Chinese Securities Regulatory Commission (CSRC) as it shows that the regulatory benchmarks they set may have a significant impact on firms' investment behavior.