This study examined construction companies and analyzed the restrictions in securitizing the beneficiary right, the required conditions for securitization, and the effects of securitizing beneficiary right in real estate development trust on the construction companies. As a result, the reasons for the beneficiary right unable to be securitized are first, that there was no tradable market being formed (33.5%), second, that many people are ignorant about the plans to make the securitization of beneficiary right (31.8%), and third, that the beneficiary right cannot become the basic assets for securitization (20.5%). It is discovered that the required conditions to make the beneficiary right to become liquid is first, the formation of market to trade the beneficiary right (34.8%), second, the clear legal establishment of marketable security (25.0%), and third, the installation of the credit enhancing devices (19.7%). In addition, as for the effects of the securitization of the beneficiary right on the construction companies, the study showed that there were positive effects such as more opportunities to participate in construction, the lowering of the construction unit cost, the increase in the securitization, and the reduction of the debt burden. Therefore, it is expected that the securitization of beneficiary right in real estate development trust will sufficiently carry out its function as a new way to supply capital in order to solve the securitization problems currently suffered by the construction market as well as construction companies.
목차
Abstract : 1. 머리말 2. 자산유동화의 이론적 배경 2.1 수익권의 유동화 대상자산 여부 2.2 유동화 필요성 2.3 유동화 조건 2.4 유동화 효과 2.5 선행연구 검토 3. 가설의설정 및 설문 설계 3.1 모집단과 표본 3.2 설문 설계 및 표본의 통계랑 3.3 가설의 설정 4. 개발신탁수익권의 유동화에 관한 인식의 분석 4.1 가설의 검증 4.2 수익권의 유동화 효과에 대한 인식 4.3 개발신탁수익권의 활용여부 4.4 유동화시 가장 중요한 요인 및 신용보강 방법 5. 곁론 참고문헌
키워드
부동산신탁부동산개발신탁수익권자산유동화Real Estate TrustBeneficiary Right in Real Estate Development TrustAsset Securitization
한국지역개발학회 [The Korean Regional Development Association]
설립연도
1989
분야
사회과학>지역개발
소개
국토의 균형발전과 도시 및 농촌지역 계획에 관한 이론을 종합적으로 연구하고 지역개발에 관한 학문적, 실용적 연구발전을 통하여 지속가능한 지역발전에 기여함을 목적으로 한다.
또한 세계화 시대에 부응하여 아시아지역의 선도적인 지역개발 경험을 바탕으로 개발도상국가의 지역개발전략 및 개발사업을 지원한다.
간행물
간행물명
한국지역개발학회지 [Journal of the Korean Regional Development Association]