상가 권리금의 특징에 관한 연구

A Study on the Characteristics of Goodwill - Evidence from Retail Property in Apartment Complexes -

1. CONTENTS (1) RESEARCH OBJECTIVES The objective of this study is to identify the significant determinants of goodwill value for retail in apartment complexes in Seoul using a structural equation model. (2) RESEARCH METHOD To achieve the goal of our study, goodwill value theories are reviewed. The paper begins with a structural equation model. It is a statistical method that can be applied to a series of retail property values. It has a few characteristics to identity and quantify the significant determinants of retail property values. (3) RESEARCH FINDINGS The major findings are as follows. Firstly, monthly retail rent is the most important variable affecting the determinants of a goodwill value for a retail property. Secondly, there is a high correlation between retail rent and goodwill value in utilizing a rented retail property: the higher goodwill value, the higher retail rent. Thirdly, goodwill value is a function of a vector of physical attributes and economical attributes. The goodwill value in Korea can be interpreted as an index of location on retail rent. 2. RESULTS The result of our study is that the monthly retail rent and the sIze of retail space are the principal determinants of retail rents in Seoul.