패널데이터를 이용한 금융위기 이전과 이후 수익용 부동산의 임대수익 영향요인에 관한 연구

A Study on the Factors Affecting Rental Income of Real Estate for Before and After Financial Crisis Using Panel Data

금융위기 이전과 이후를 비교하면, 금융위기 이전에는 경제적 특성에서 부채 총액에서 임대수익에 정(+)의 효과가 나타난 것은 부채를 빌려 부채 이상의 더 많은 수익률을 높이기 위한 정(+)의 레버리지 효과가 작용하는 것으로 생각되고, 금융위기 이후의 부채 총액에서 임대수익에 부(-)의 효과가 나타난 것은 금융위기 이후 부동산 경기가 좋지 않아 부채를 빌려서 투자하더라도 그 만큼의 임대수익으로 연결되지 않아 정(+)의 레버리지 효과가 나타나지 않은 것으로 파악된다. 금융위기 이후는 이전과 금융위기 이전과 비교할 경우 관계적 특성에서도 약간의 차이가 난다. 금융위기 이전에는 개인적인 여가활동과 현재 건강이 좋을 경우 임대수익에도 긍정적으로 작동하는 반면, 금융위기 이후 주거환경과 사회경제적 지위가 높은 경우가 관계적인 면에서 좋기 때문에, 그것에 의해 임대수익에도 좋은 것으로 파악되었다.

1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study is to investigate the effects of population and social, regional, economic, and relational characteristics on rental income for the factors affecting rent income of real estate for profit. (2) RESEARCH METHOD This study employed the random effect model through the housman test to achieve the major objectives of this study. (3) RESEARCH FINDINGS The implications of this study are as follows. First, in the study on the factors affecting rental income before and after of the financial crisis, the factors affecting the rental income are not the physical characteristics, This research is based on the perspective of individual suppliers. It is a highly scarce study of population and social characteristics, regional characteristics, economic characteristics, and relational characteristics. Second, the results show that the leverage effect is positive (+) before the financial crisis, while the leverage effect does not have a leverage effect after the financial crisis. Third, there is no case in which panel analysis is performed using panel data so as to examine rental income of real estate for profitability. 2. RESULTS The results of this study are summarized as follows. The positive effect of leverage on the total liabilities in the economic characteristics before the financial crisis seems to be due to the positive leverage effect in order to increase the yield more than debt by borrowing the debt. The negative effect of lease income on the total debt after the financial crisis is because the real estate market is not good after the financial crisis, so even if the debt is borrowed, Respectively. After the financial crisis, there is a slight difference in relational characteristics when compared with before and before the financial crisis. It is also good for rental profits because it is good for the relationship between private leisure activity and current lease income before the financial crisis, while the residential environment and socioeconomic status after the financial crisis is good.