KJCKorea
Journal Central

@article{ART001862470},
author={이경민 and Ahn, Ji-Ha and Jung, Chang-Mu},
title={A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market},
journal={The Korea Spatial Planning Review},
issn={1229-8638},
year={2014},
volume={80},
pages={49-66},
doi={10.15793/kspr.2014.80..004}

TY - JOUR
AU - 이경민
AU - Ahn, Ji-Ha
AU - Jung, Chang-Mu
TI - A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market
JO - The Korea Spatial Planning Review
PY - 2014
VL - 80
IS - null
PB - 국토연구원
SP - 49
EP - 66
SN - 1229-8638
AB - This study aims to empirically analyze the ripple effect of the project financing (PF) on private apartment housing to measure its risk, and present the optimal capital structure of project for sufficient absorb of the risk through simulation analysis. The result of empirical analysis showed that the increase of hosing PF project scale in certain region has positive effect on systematic risk of the region’s housing market, and the increase of construction company’s PF payment guarantee ratio has positive effect on systematic risk of company’s stock value. The result of simulation analysis showed that PF project requires 13% level of the ratio of owner’s equity on the standard of risk, and 23% level of the ratio of owner’s equity on the standard of profitability.
KW - Housing Development Project;Panel Data Analysis;Monte-Carlo Simulation;Optimal Capital Structure;Economic Capital Adequacy;Genetic Algorithms
DO - 10.15793/kspr.2014.80..004
ER -

이경민, Ahn, Ji-Ha and Jung, Chang-Mu. (2014). A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market. The Korea Spatial Planning Review, 80, 49-66.

이경민, Ahn, Ji-Ha and Jung, Chang-Mu. 2014, "A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market", The Korea Spatial Planning Review, vol.80, pp.49-66. Available from: doi:10.15793/kspr.2014.80..004

이경민, Ahn, Ji-Ha, Jung, Chang-Mu "A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market" The Korea Spatial Planning Review 80 pp.49-66 (2014) : 49.

이경민, Ahn, Ji-Ha, Jung, Chang-Mu. A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market. 2014; 80 49-66. Available from: doi:10.15793/kspr.2014.80..004

이경민, Ahn, Ji-Ha and Jung, Chang-Mu. "A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market" The Korea Spatial Planning Review 80(2014) : 49-66.doi: 10.15793/kspr.2014.80..004

이경민; Ahn, Ji-Ha; Jung, Chang-Mu. A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market. The Korea Spatial Planning Review, 80, 49-66. doi: 10.15793/kspr.2014.80..004

이경민; Ahn, Ji-Ha; Jung, Chang-Mu. A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market. The Korea Spatial Planning Review. 2014; 80 49-66. doi: 10.15793/kspr.2014.80..004

이경민, Ahn, Ji-Ha, Jung, Chang-Mu. A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market. 2014; 80 49-66. Available from: doi:10.15793/kspr.2014.80..004

이경민, Ahn, Ji-Ha and Jung, Chang-Mu. "A Study on the Risk Measurement and Determining Optimal Capital Structure of Project Financing on the Housing Market" The Korea Spatial Planning Review 80(2014) : 49-66.doi: 10.15793/kspr.2014.80..004