Empirical Study on the Relevance of CFO Characteristics and the Capital Structure of Real Estate Listed Companies in China

The rapid development of the real estate industry contributes great energy to our country and sustains the national economy. The booming real estate industry needs substantial, constant financial support to operate and work. Most of them choose debt financing, leading to a high liability-asset ratio of capital structure. The Chief Financial Officer (CFO) plays a significant role in the operation and development of the listed real estate companies, especially in financial management and strategy-making. This thesis studies the relationship of CFO characteristics which directly or indirectly influence their performance and the capital structure of real estate listed companies by using SPSS Statistics 17.0 to process the data from 2007-2012. The results help companies work out effective strategies for the employment of CFOs and consider their career development.