부동산개발신탁수익권의 유동화 방안 - 부동산신탁회사의 인식조사를 중심으로

• 영문명: A Study of Securitization of Beneficiary Right in Real Estate Development Trust -Focused on Survey of Understanding of Real Estate Trust Companies-
• 발행기관: 한국부동산학회
• 저자명: 김종서(Kim Jong Seo) 장희순(Jang Hee Soon)
• 간행물 정보: 『부동산학보』不動産學報 第34輯, 93~106쪽, 전체 14쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2008.08.01

영문 초록

  1. CONTENTS
  (1) RESEARCH OBJECTIVES
Through the survey of the perception of the employees working in real estate trust companies about the securitization of the beneficiary certificates for real estate development trust, this study aims to identify the causes that prevent the beneficiary certificates for real estate development trust from being securitized, the necessary steps needed for securitization, and the influences of the securitization on the real estate trust companies.
  (2) RESEARCH METHOD
  This study was carried out by survey and statistical methods. The survey was conducted on the workers currently taking charge of the real estate development trust (including the real estate development trust for management) and on the workers who had experiences in the development trust department but currently managing tasks other than real estate development projects in nine different real estate trust companies in Korea. Total 370 people were surveyed from May 22nd, 2008 to June 10th, 2008. Total 290 surveys were distributed and then 209 surveys were collected. The sampling error at the 95% significance level is ±4.48.
  (3) RESEARCH FINDINGS
  The study showed that the reasons why the beneficiary certificates for real estate development trust are not securitized are the followings: first, there is no market formed for circulating the certificates (34.4%), second, there is consideration that they cannot be a fundamental asset for securitization (30.3%), third, they are not regarded as valuable securities (19.5%).
  The necessary steps to securitize the beneficiary certificates for real estate development trust have been discovered : first, the credit enhancement to protect the investors (35.2%), second, the formation of market in which the certificates can be circulated (28.0%), and third, the legal establishment that the certificates are indeed valuable securities (28.0%).
  2. RESULTS
  When the beneficiary certificates for real estate development trust are securitized, their effect on the real estate development trust companies were shown to "increase the number of trust operations and sales volume by the real estate development trust method" through demonstrative analysis.

목차

ABSTRACT
Ⅰ. 머리말
Ⅱ. 자산유동화의 이론적 배경
Ⅲ. 가설의 설정 및 설문 설계
Ⅳ. 개발신탁수익권의 유동화에 관한 인식의 분석
Ⅴ. 결론
參考文獻

키워드

Real estate trust Beneficiary certificate for real estate development Securitization