Valuation of the Investing Project Based on Debts Payment Mechanism
Profitability is one of the most basic protections to payoff debts and interests in Real Estate Corporations. To a real estate corporation, whose investing profitability is uncertain, but its debts are related certain. Repayment of debts and interests would be increased for such mismatching between investing profitability and due debts. Consideration of repayment and refluxing of debts during investing period, the real estate corporation should pay close attention to the impact effect which would act on the normal operation. In fact, it is more often that real estate corporations dressed into financial distress than bankruptcy. Therefore, relations between risk and term structure of debts will be analyzed connected with the real case of the real estate corporation. Moreover, impact effect from refluxing of debts to operation and project cash flow will be measured. In the end, the feasible sinking fund or reserve fund model for debts risk will be discussed.
profitability capability term structure of debts sinking funds economic cycle financial distress
XU Lili LIU Shaowei
Economic & Management School,Henan Polytechnic University,Henan,China School of Energy & Science Engineering,Henan Polytechnic University,Henan,China
国际会议
2008 International Conference of Management Science and Engineering(2008管理科学与工程国际学术会议)
河南焦作
英文
1083-1088
2008-11-01（万方平台首次上网日期，不代表论文的发表时间）