Abstract
Strict policy control and real estate market downturn affects large-scale real estate enterprises performance. We surveyed large Chinese real estate enterprises and the internal factors that affect their competitiveness. Verified by the hierarchical regression and structural equation modelling approach, the results mainly show that profitability, capital ability, management and operation ability, human resource ability, brand name, and innovation ability play positive roles in the competitiveness of large real estate enterprises. Management and operation ability plays an intermediary role between human resources and the improvement of competitiveness. Real estate enterprises’ capital sources play an intermediary role between brand names and the improvement of competitiveness. Moreover, landbank area and quality and sales are three major factors that impact the competitiveness improvement of real estate enterprises, while the ability for marketing innovation and the payment collection of enterprises has a relatively small impact. All in all, this paper provides practical implications concerning factors that affect the competitiveness of large real estate enterprises. The findings are helpful to improve the sustainable development of real estate enterprises in the future. As research on factors that affect large-scale real estate enterprises is scarce, this study aims to fill this gap.
Highlights
The real estate industry is an economic pillar industry in China [1]
The structural equation model constructs the relationship between each potential variable and its observed variable [42,43,44,45]
The capital ability has a noticeable influence on improving the comprehensive competitiveness of an enterprise, which belongs to the first gradient level among several potential variables
Summary
The People’s Republic of China government has issued a series of real estate-related policies to stabilize the real estate market. The government requires enterprises to adhere to “houses are for accommodation, not for speculation” guidelines, and real estate should not be used as a short-term means to stimulate the economy [2]. The main policy direction of “real estate is not for speculation” remains unchanged, and real estate companies’ finances remain tight [2]. All these changes highlight the importance of enhancing enterprises’ competitiveness as a critical path for the sustainable development of the real estate industry
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