Real Estate Securitization risk and return research on Mainland and Taiwan ---Analysis of the operation on urban renwal through Real Estate Securitization

碩士 === 淡江大學 === 中國大陸研究所碩士班 === 96 === United Sates, the United Kingdom, Sweden, France, the Netherlands and Germany, and other countries, have launched a vigorous real estate securitization campaign. Experiencing the Asian financial crisis, Japan, Korea, Singapore, China’s Hong Kong, also have drawn...

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Bibliographic Details
Main Authors: Chien-Nan Chia, 賈健男
Other Authors: Chih-Chiang Li
Format: Others
Language:zh-TW
Published: 2008
Online Access:http://ndltd.ncl.edu.tw/handle/46535361160952746493
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Summary:碩士 === 淡江大學 === 中國大陸研究所碩士班 === 96 === United Sates, the United Kingdom, Sweden, France, the Netherlands and Germany, and other countries, have launched a vigorous real estate securitization campaign. Experiencing the Asian financial crisis, Japan, Korea, Singapore, China’s Hong Kong, also have drawn up laws and regulations, gradual to implement the Real Estate Securitization. Taiwan promulgated the “Regulations on Real Estate Securitization”, Here are a variety of real estate securities products in the market and to issue publicly traded. First of all, the paper from the system and the market level, a comparative study Taiwan securitization of real estate properties, income and risk. Taiwan Real Estate Securitization from the United States and Japan, the operation of adjust three years, therefore, the type of investment targets, borrowing ceiling, and the rate of return, are still limited. Through experience analysis, the major factors which impact Taiwan Real Estate. Securitization income are the housing sector production index, long-term interest rates, Taiwan’s industrial production index and the GNP. Secondly, the study considers that the use of real estate securities, in particular on the development of real estate investment trusts-to urban renewal is the future Taiwan and even Chinese mainland city a change by way. This study is to investigate the real estate securitization and urban update dose relationship and Construction of a Taiwan suitable operation for the development of real estate securitization . Finally, analyze the development of the Chinese mainland real estate securities ne- cessity feasibility, development and infrastructure construction in the application, and else from government departments, the trust industry, investors and the securities market point of view. Real Estate Securitization can solve real issues of liquidy, improving the fiscal balance, raising production quality of the environment and the direct or indirect effects through the industry association to promote economic growth and to achieve diversification of financial products, expand the size of the capital market objectives. Therefore, the analysis of real estate securities and the proceeds from risk, and explore ways to make better use of real estate securities into urban renewal, are the advanced topics for further academic research.