국내 토지시장의 리스크프리미엄 분석 - 지역별 지가변동률을 활용한 실증 연구 -

• 영문명: Risk Premium Analysis on Domestic Land Market - An Emprical Study Using Price Change Rate per Sector -
• 발행기관: 한국부동산학회
• 저자명: 김형순(Kim Hyeong Soon) 김호철(Kim Ho Cheol)
• 간행물 정보: 『부동산학보』부동산학보 제23집, 30~48쪽, 전체 19쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2004.08.01

영문 초록

1. CONTENTS (1) RESEARCH OBJECTIVES To analyse the relationship between profitability and risk in land investment market, we derive sectoral risk premium for domestic land market. (2) RESEARCH METHOD CAPM(Capital Asset Pricing Model), Least Regression, F-statistics. (3) RESEARCH RESULTS We can derive the domestic land market line(LML) using the time series data of 16 wide administrative districts and 234 basic administrative districts for 19 years. As a result, we can measure the amount of sectoral risk premium and the investment stability index in domestic land market. We can also confirm that our result of this analysis is the same of historical experience. By our analysis, the LMLs of the wide administrative districts and basic administative districts are y=1.32+6.31x, y=060+6.14x. 2. RESULTS We proposed the investment stability index as a feasibility index of the land investment of Korea. The land market line derived by linear regression explained the historical situation of the domestic land market. Since the historical experience and a logical argument of this analysis, the investment stability index can be used as a objective investment index. 3. KEY WORDS Risk premium, CAPM Land market line, Investment stability index.

목차

ABSTRACT

Ⅰ. 서 론

Ⅱ. 이론적 배경

Ⅲ. 실증분석

Ⅳ. 결 론

參考文獻