@article{ART002177489},
author={Yoo, Daejong and Lee, Sang Kyeong},
title={An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2016},
volume={26},
number={4},
pages={77-93}
TY - JOUR
AU - Yoo, Daejong
AU - Lee, Sang Kyeong
TI - An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression
JO - Korea Real Estate Review
PY - 2016
VL - 26
IS - 4
PB - korea real estate research institute
SP - 77
EP - 93
SN - 2092-5395
AB - Most of previous studies analysed determinants of golf membership prices using ordinary least squares regression in terms of a single market. On the contrary, we observe that the transaction market of golf membership is segmented by price. Thus, this paper aims at analysing the determinants of membership prices using quantile regression. We construct database for nationwide golf courses except Jeju-do. Golf membership prices are standard market prices and investigated by membership type and issue order. The results are as follows. As corporate membership and VIP membership go up to high quantiles, the positive effect increases, whereas the weekly membership increases the negative effect. The effect of GRDP per capita of the nearest metropolitan city becomes smaller as a quantile increases. The clubhouse area per a hole and resort type have positive effect in middle quantiles. This result shows that implicit prices of golf membership characteristics differs by quantile, suggesting that golf membership market may be segmented by price.
KW - golf membership;membership price determinants;ordinary least squares;quantile regression;market segmentation
DO -
UR -
ER -
Yoo, Daejong and Lee, Sang Kyeong. (2016). An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression. Korea Real Estate Review, 26(4), 77-93.
Yoo, Daejong and Lee, Sang Kyeong. 2016, "An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression", Korea Real Estate Review, vol.26, no.4 pp.77-93.
Yoo, Daejong, Lee, Sang Kyeong "An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression" Korea Real Estate Review 26.4 pp.77-93 (2016) : 77.
Yoo, Daejong, Lee, Sang Kyeong. An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression. 2016; 26(4), 77-93.
Yoo, Daejong and Lee, Sang Kyeong. "An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression" Korea Real Estate Review 26, no.4 (2016) : 77-93.
Yoo, Daejong; Lee, Sang Kyeong. An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression. Korea Real Estate Review, 26(4), 77-93.
Yoo, Daejong; Lee, Sang Kyeong. An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression. Korea Real Estate Review. 2016; 26(4) 77-93.
Yoo, Daejong, Lee, Sang Kyeong. An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression. 2016; 26(4), 77-93.
Yoo, Daejong and Lee, Sang Kyeong. "An Exploratory Study of Golf Membership Price Determinants andMarket Segmentation Using Quantile Regression" Korea Real Estate Review 26, no.4 (2016) : 77-93.
