공공지원 민간임대 사업 민간주식 유동화의 효용성에 대한 연구

• 영문명: A Study on the Effectiveness of Private Stock Securitization in Public-Supported Private Rental Housing Development
• 발행기관: 한국도시부동산학회(구.도시정책학회)
• 저자명: 이경준(Kyoung-Jun Lee) 유석연(Suk-Yeon Yoo)
• 간행물 정보: 『도시부동산연구』16권 1호, 137~157쪽, 전체 21쪽
• 주제분류: 사회과학 > 정책학
• 파일형태: PDF
• 발행일자: 2025.03.31

국문 초록

The purpose of this study is to analyze the effectiveness of private equity liquidity in public-supported private rental housing development. For this study, a model of the new capital structure is developed to assess its effectiveness across various scenarios. The results of this study are as follows. First, it was found that the sale conversion price has a strong relationship with all the factors of private investors, such as the purchase price discount rate, the size of the dividend of class shares, the sale conversion price, and the return on private investors. Second, it proved that the major share transfer requirements, which can be a loss risk for private investors, have a direct impact on investment decisions, such as the sale price cap regulation, the right to purchase the tenant, and the credit rating standard of the transferee, which are at issue in the public-supported private rental housing policy. Third, three hypotheses for analyzing the effectiveness of the new private stock securitization structure set for the actual target site were proved as follows. 1) The discount rate of the purchase price has a positive (+) relationship with the return of private investors. 2) The dividend size of class stocks has a negative relationship with the return on common stocks. 3) The conversion price is positively related (+) to the return on class and common stocks.

목차

Ⅰ. 서론

Ⅱ. 이론 고찰

Ⅲ. 임대주택 유동성 지원정책 분석 및 시나리오 도출

Ⅳ. 민간주식 유동화 신규구도의 효용성 분석

Ⅴ. 결론

참고문헌

키워드

공공지원 민간임대 사업 민간지분 양도 유동화 스트레스 테스트 민감도 분석 Public-Supported Private Rental Housing Development Equity Transfer Liquidity Stress Test Sensitivity Analysis