연구 요약
연구 요지 (AI)
기업구조조정 리츠의 기간별 최적 수익률 결정모형을 연구했다.
초록
The purpose of this study is to analyze the adequacy of estimated returns on investment presented by five Real Estate Investment Trusts (REITs), which have emerged based on the Act of Real Estate Investment Trusts since 2002, by identifying their total investment amounts and total financing amounts, respectively. After examining the adequacy of estimated returns, the study provides the methods that they can provide their periodic optimal dividend yield rates at the time of REITs' establishment and offer the highest average dividend yield rates within their operating periods, with the intention to harmonize the interests between investors and management fund managers.
This study employs both empirical and positive methodologies, and the size of the entire indirect real estate market that is to be built in the future is calculated through the analysis of the size and characteristics of each product issued in the past. In addition, the results of public offerings by REITs issuance and financing volume are analyzed. Particularly, this study builds and analyzes a scenario for the establishment of an optimal REITs, by combining the different factors that affect REITs' periodic dividend yield and average dividend yield during their operating period.
발행 정보
2003. 한국부동산법학회 『不動産法學』 Vol.8 No.-