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研究产业投资基金对房地产公司的评价体系对开拓房地产融资渠道有重要的帮助。论文结合房地产行业的特点,利用因子分析模型筛选指标、计算指标权重,搭建基于证券投资的房地产上市公司评价体系(RECES);在使用Z-Score模型进行财务危机预判之后,比较产业投资基金管理者和证券投资者投资取向的差异,采用权重替换的方式修正RECES来构建基于产业投资基金的房地产公司评价体系(RECEI)。结果表明:根据RECEI计算得到的房地产未上市公司排名结果符合实际,可以作为产业投资基金选择投资对象的依据。
Research on industrial investment funds for real estate companies evaluation system for the development of real estate financing channels have important help. Based on the characteristics of the real estate industry, the article uses the factor analysis model to filter the index, calculate the weight of the index, and build a real estate listed company evaluation system based on securities investment (RECES). After using the Z-Score model to predict the financial crisis, And securities investors to invest in the differences in the direction of the use of weight replacement method to amend RECES to build real estate investment funds based real estate company evaluation system (RECEI). The results show that the results of real estate unlisted companies calculated according to RECEI are in line with the actual conditions and can be used as the basis for selecting investment targets for industrial investment funds.