@article{ART002478704},
author={박병태 and Changha Jin},
title={A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2019},
volume={29},
number={2},
pages={7-25},
doi={10.35136/krer.29.2.1}
TY - JOUR
AU - 박병태
AU - Changha Jin
TI - A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance
JO - Korea Real Estate Review
PY - 2019
VL - 29
IS - 2
PB - korea real estate research institute
SP - 7
EP - 25
SN - 2092-5395
AB - The purpose of this study is to examine the determinants of listed and unlisted REITs. Thus, we conduct an empirical analysis by using the Linear Probability Model (LPM) and establishing variables related to investment factors, external factors, and governance, the inherent characteristics of REITs, along with the legal and statistical analysis of financial statements and financial quantitative analysis. The results of the analysis are as follows. First, in the quantitative analysis of financial factors, the financial indicators of listed REITs perform better than those of unlisted REITs, indicating that most REITs with excellent financial status are listed. Then among 27 variables, 16 items are statistically significant in the results of the empirical analysis on investment factors, external factors, and governance. As the three null hypotheses are rejected, financial factors, investment factors, external factors, and dominant variables are deemed to have an influence on the listing decision. This study aims to prove that REITs have been thoroughly verified after their introduction, as well as the quantitative analysis of financial factors, and the analysis of investment factors and external factors.
KW - REITs;liquidation REITs;listed REITs;unlisted REITs;Linear Probability Model(LPM)
DO - 10.35136/krer.29.2.1
ER -
박병태 and Changha Jin. (2019). A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance. Korea Real Estate Review, 29(2), 7-25.
박병태 and Changha Jin. 2019, "A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance", Korea Real Estate Review, vol.29, no.2 pp.7-25. Available from: doi:10.35136/krer.29.2.1
박병태, Changha Jin "A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance" Korea Real Estate Review 29.2 pp.7-25 (2019) : 7.
박병태, Changha Jin. A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance. 2019; 29(2), 7-25. Available from: doi:10.35136/krer.29.2.1
박병태 and Changha Jin. "A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance" Korea Real Estate Review 29, no.2 (2019) : 7-25.doi: 10.35136/krer.29.2.1
박병태; Changha Jin. A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance. Korea Real Estate Review, 29(2), 7-25. doi: 10.35136/krer.29.2.1
박병태; Changha Jin. A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance. Korea Real Estate Review. 2019; 29(2) 7-25. doi: 10.35136/krer.29.2.1
박병태, Changha Jin. A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance. 2019; 29(2), 7-25. Available from: doi:10.35136/krer.29.2.1
박병태 and Changha Jin. "A Study on the Determinants of REITs IPO : Focusing on Financial Factors, Unique Characteristics, and Governance" Korea Real Estate Review 29, no.2 (2019) : 7-25.doi: 10.35136/krer.29.2.1
