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随着资本市场与房地产市场的融合,越来越多的上市公司开始或加大对房地产领域的投资。截止到2003年7月,涉及房地产业务的上市公司有348家,占上市公司总数的30％左右。这些公司的房地产投资行为具有一定的趋同性。由此引发的公司产业性质界定和综合评价也成为业界和学术界的热点问题之一。本文结合MSCI(摩根斯坦利)和S&P(标准普尔)的GICS体系、伦敦金融时报GCS系统和中国证监会的《中国上市公司分类指引》等国内外的产业分类方法,探讨了房地产上市公司遴选的标准,为后续的“基于年报信息的中国房地产上市公司综合实力评价研究”奠定了基础。
With the combination of capital market and real estate market, more and more listed companies start or increase their investment in the real estate field. As of July 2003, there were 348 listed companies involved in the real estate business, accounting for about 30% of the total number of listed companies. The real estate investment behavior of these companies has a certain degree of convergence. The resulting industrial nature of the definition and comprehensive evaluation of the industry and academia has become one of the hot issues. Based on the GICS system of MSCI (Morgan Stanley) and S & P (S & P), the GCS system of the London Financial Times and the “Guide for the Classification of Chinese Listed Companies” issued by the China Securities Regulatory Commission (CSCI), this article discusses the domestic and international industry classification methods selected by real estate listed companies Standard for the follow-up “based on the annual report of China’s real estate companies listed on the comprehensive strength of the evaluation of” laid the foundation.