자산선택 결정요인에 관한 연구

• 영문명: A Study on Asset Allocation Decision Making Factor
• 발행기관: 한국부동산학회
• 저자명: 박합수(Park, Hab Soo) 고석찬(Ko, Suk Chan)
• 간행물 정보: 『부동산학보』不動産學報 第44輯, 330~345쪽, 전체 16쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2011.02.28

영문 초록

1. CONTENTS (1) RESEARCH OBJECTIVES This paper investigates an individuals’ propensity to asset allocation by type with a focus on real estate. This is followed by an analysis on the real estate ratio of the subjects’ current asset portfolios, after five years and in retirement in order to identify the key factor that influences one’s portfolio selection. The aim of this study is to provide optimal asset allocation percentage and portfolio selection criterion to support decision making process for rational portfolio selection. (2) RESEARCH METHOD Both documentary and empirical research methods are used for data analysis. Documentary research method is used to study articles on theories of portfolio selection together with the documents covering the characteristics of asset allocation and the current state of individual’s asset allocation in South Korea. An empirical research method is adopted to analyse the current state of individuals’ propensity to asset allocation by type. Subsequently, multiple regression analysis is used to examine the relationship between variables of an individual’s asset allocation. (3) RESEARCH FINDINGS The regression analysis on the real estate percentage of individual’s assets found four variables; bank deposit(ap222), stock percentage (ap223), insurance percentage(ap224), indirect investment products(ap225) and marital status(ap32l) to be the significant variables. The estimated regression expression is y=105.067-1.018*ap222-0.989*ap223-1.021*ap225-1.148*ap321. The study found a negative regression coefficient from which we can conclude that the increase in financial asset except the real estate, can lead to a decrease in the current real estate percentage. 2. RESULTS Factor analysis method was used to examine firstly, the percentage of individual assets in the person’s current total assets secondly, the percentage of individual assets in the person’s total assets in five years and thirdly, the percentage of individual assets in the person’s total assets in retirement together with the related variables. The outcome of the analysis was then grouped into four key factors. These were studied using multiple regression analysis which found that when planning configuration of a portfolio now and in the future, the configuration percentage of safe asset correlates with current real estate percentage, furthermore they were found to be the key influencing factors in the configuration planning for portfolios.

목차

ABSTRACT

Ⅰ. 서론

Ⅱ. 자산선택에 관한 이론

Ⅲ. 자산선택에 관한 실증분석

Ⅳ. 결론

參考文獻

키워드

Portfolio profitability stability liquidity asset allocation 포트폴리오 수익성 안전성 환금성 자산선택