공공택지조성원가에 대한 자본비용 산정요소 영향 분석

• 영문명: A Study on the Impact of the Components of the Capital Cost on the Costs of Housing Site Development Project
• 발행기관: 한국지역개발학회
• 저자명: 이일상(Lee Il sang) 김호철(Kim Ho cheol)
• 간행물 정보: 『한국지역개발학회지』제27권 제5호, 167~184쪽, 전체 18쪽
• 주제분류: 사회과학 > 지역개발
• 파일형태: PDF
• 발행일자: 2015.12.30

영문 초록

In a housing site development projet, the price of developed land for rental housing and public facilities is determined based on the costs of housing site development project, which is the total expenditure of the project. The cost of capital, which consists of the cost of equity capital and the cost of debt, is one of the main components that affects the costs of housing site development project. However, in 2008, the government excluded the cost of equity capital when determining the total cost of capital in order to decrease the price of developed land. It resulted in a big gab when estimating the costs of land development project depending on the capital composition of developers, leading to consequent loss for the developer providing land at cost. Thus, the purpose of this study is to analyze the impact of the components of the capital cost and identify the actual level of loss for developers when they provide developed land for public purpose. The results showed that the exclusion of equity capital cost caused to reduce the costs of housing site development project by 4.0 percent. A linear multiple regression analysis indicates that the difference ratio of loss increases by 0.8%p for an additional 10%p increase of equity capital proportion, 0.9%p for an additional 1%p increase of the cost of equity, 0.03%p for an additional 1%p increase of the cost of debt, and 0.7%p for an additional 1 year extension of project period. It means the increase in the loss of developers. On the contrary, the difference ratio of loss is shown to decrease by 0.6%p for an additional 10%p increase of sales revenue rate during project period.

목차

1. 서 론

2. 이론 고찰 및 선행연구 검토

3. 공공택지조성원가의 산정기준 및 가격수준

4. 공공택지조성원가의 자본비용 산정기준에 따른 차이 분석

5. 결론 및 시사점

주

참 고 문 헌

키워드

조성원가(Costs of Land Development Project) 자본비용(Cost of Capital) 택지개발사업(Housing Site Development Project)