Earticle

초록

영어

What is the basis for appraisal of asset management performance? The performance of the investors‘ asset management tends to be evaluated by reviewing whether or not the investing organization's performance for its investment has been more or less reached on purpose-benchmark. Therefore, it is important that the level of purpose-benchmarks should be reasonably determined. In light of this notion, the purpose of this paper is 1) to reasonably determine levels of purpose-benchmark and 2) to show the efficiency of each sub-real estate market by looking at theoretical equilibrium in office building and retail real estate markets in Korea based on the Security Market Line(SML) and Security Characteristics Line(SCL) in Capital Asset Pricing Model(CAPM). And, the results drawn from this paper is that 1) it is proven that purpose-benchmarks driven from SML for office building and retail real estate markets seem useful to show appropriate expected rates of returns for real estate investments in Korea, and 2) markets' efficiencies for office building and retail real estate can be different depending on time and regional characteristics, which implies that investors need carefully elaborate those factors when investing.

목차

Abstract
 1. 서론
  1.2. 연구 범위
 2. 이론적 고찰 및 선행연구 검토
  2.1. 이론적 이해
  2.2. 선행연구 및 연구 차별성
 3. 분석모형 및 자료
  3.1. 연구모델과 분석방법
  3.2. 검증방법 및 분석자료
 4. 분석 결과
  4.1. 증권시장선(SML) 도출
  4.2. 증권특성선(SCL) 도출
 5. 결론 및 시사점
 주
 참고문헌

키워드

저자

• 강상선 [ Kang, Sang Sun | 강원대학교 일반대학원 부동산학과 박사수료, 현)한국지방재정공제회 부장 ] 주저자
• 전재범 [ Jun, Jae Bum | 강원대학교 일반대학원 부동산학과 조교수 ] 교신저자

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국지역개발학회지 [Journal of the Korean Regional Development Association]

• 간기

  연5회

• pISSN

  1225-9055

• 수록기간

  1989~2026

• 등재여부

  KCI 등재

• 십진분류

  KDC 322 DDC 330