국내상장기업의 부동산보유비율이 기업의 초과성과와 원천별 위험에 미치는 영향에 관한 실증분석

• 영문명: An empirical analysis of the effect of the real estate holding ratio of domestic listed companies on the company's excess performance and risk by source
• 발행기관: 한국주거환경학회
• 저자명: 정완성
• 간행물 정보: 『주거환경(한국주거환경학회논문집)』제21권 제2호 (통권 제60호), 197~215쪽, 전체 19쪽
• 주제분류: 사회과학 > 지역개발
• 파일형태: PDF
• 발행일자: 2023.06.30

영문 초록

In this study, the risk-adjusted model (RAM: Risk Adjusted Model) was used to calculate excess performance of the seven sub-industries for 10 years from 2013 to 2022. In the analysis of the achievement of excess performance according to real estate ownership ratio, it was found that when real estate ownership ratio increases, high excess performance ratios are achieved in the business facility management and construction industries, while poor excess performance is achieved in the transportation, manufacturing industries. In the case of the wholesale and retail KOSPI, it shows high performance with a high real estate ownership ratio because of positive effect on core competencies due to the nature of the wholesale and retail business. When the excess performance ratio was low, the real estate ownership ratio increases the non-systematic at a greater extent. It can be inferred that real estate holding increases the non-systematic risk of a company. The reason of underperformance of the transportation, manufacturing industries is due to the greater increase in non-systematic risk than other industries when real estate ownership ratio increases.

목차

Ⅰ. 서론

Ⅱ. 선행연구

Ⅲ. 연구의 모형

Ⅳ. 실증분석 결과

Ⅴ. 결론과 시사점

참고문헌

키워드

부동산보유비율 위험조정모형 체계적위험 비체계적위험 초과성과비율 원천별 위험 real estate ownership ratio risk adjusted model systematic risk non-systematic risk excess performance risk by source