Effects of economic policy on property development firms’ financial health

Yu, Xianli

Effects of economic policy on property development firms’ financial health

Yu, Xianli

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Publication Type:: Thesis
Issue Date:: 2024

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Field	Value	Language
dc.contributor.author	Yu, Xianli
dc.date.accessioned	2024-10-10T22:05:14Z
dc.date.available	2024-10-10T22:05:14Z
dc.date.issued	2024
dc.identifier.uri	http://hdl.handle.net/10453/181381
dc.description	University of Technology Sydney. Faculty of Design, Architecture and Building.	en_US.UTF-8
dc.description.abstract	This research investigates how government economic policies impact the financial health of property development firms in China. Property Development is a capital-intensive process, and the revenue can be received only when the development is completed. The financial performance of property development firms is sensitive to the changing economic environments. Chinese government continuously introduces various economic policies targeted at different economic problems. What are the main determinants of the financial health of firms? How do economic policies affect the financial health of property development firms? To what extent do economic policies affect the financial health of different types of property development firms? This research aims to answer the above research questions. A deductive approach and difference-in-differences (DID) technique are applied in the empirical study using the Chinese development firm’s annual financial results from 2001 to 2016. The DID model indicated that the negative economic policy impact on financial health was reduced by altering the levels of financial flexibility. This research is vital to developers planning financial strategies for managing their risk of unforeseen circumstances and provides empirical evidence for understanding the effects of policies introduced. It is significant for the government to formulate appropriate policies in regulating the economy.	en_US.UTF-8
dc.format	Thesis (PhD)
dc.language.iso	en_US	en_US.UTF-8
dc.relation	https://opus.lib.uts.edu.au/bitstream/10453/181381/1/thesis.pdf
dc.rights	info:eu-repo/semantics/openAccess
dc.rights	The author owns the copyright in this thesis including all reproduction and reuse rights for the work. The work may not be altered without the permission of the copyright owner. Attribution is essential when quoting or paraphrasing from this thesis.
dc.rights	© 2024 Xianli Yu
dc.rights	au.edu.uts.lib/cph
dc.title	Effects of economic policy on property development firms’ financial health	en_US.UTF-8
dc.type	Thesis
utslib.copyright.status	open_access	*

Abstract:

This research investigates how government economic policies impact the financial health of property development firms in China. Property Development is a capital-intensive process, and the revenue can be received only when the development is completed. The financial performance of property development firms is sensitive to the changing economic environments. Chinese government continuously introduces various economic policies targeted at different economic problems. What are the main determinants of the financial health of firms? How do economic policies affect the financial health of property development firms? To what extent do economic policies affect the financial health of different types of property development firms? This research aims to answer the above research questions. A deductive approach and difference-in-differences (DID) technique are applied in the empirical study using the Chinese development firm’s annual financial results from 2001 to 2016. The DID model indicated that the negative economic policy impact on financial health was reduced by altering the levels of financial flexibility. This research is vital to developers planning financial strategies for managing their risk of unforeseen circumstances and provides empirical evidence for understanding the effects of policies introduced. It is significant for the government to formulate appropriate policies in regulating the economy.

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http://hdl.handle.net/10453/181381