거시경제가 부동산펀드 설정규모에 미치는 영향

초록

It has been estimated that some macro-economic factors may influence Asset Operation Companies to decide whether to establish new funds investing on real estate or not. The objectives of this thesis are to find out what factors are relevant to establishing new funds through the empirical analysis using the ratio data of economical indices and practical fund amounts at current month over those at previous month. Regression analysis using the model of -3 month timelag has made it clear that interest factor among macro-economic indices has negative influence on the amount of real estate funds. The factor of international trading payment balance with foreign countries is statistically more significant and the coefficient is generally negative, however, the coefficient of this factor for the total amount of public subscription for foreign investment is positive. It has been estimated that some macro-economic factors may influence Asset Operation Companies to decide whether to establish new funds investing on real estate or not. The objectives of this thesis are to find out what factors are relevant to establishing new funds through the empirical analysis using the ratio data of economical indices and practical fund amounts at current month over those at previous month. Regression analysis using the model of -3 month timelag has made it clear that interest factor among macro-economic indices has negative influence on the amount of real estate funds. The factor of international trading payment balance with foreign countries is statistically more significant and the coefficient is generally negative, however, the coefficient of this factor for the total amount of public subscription for foreign investment is positive.

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