Abstract
The Purpose of this study is to analyze changes in investors' perception of REITs in order to activate public offering REITs. To this end, text mining was carried out to analyze news, blog, and Internet cafe social data trends and semantic connectivity around the time of the government's announcement of the REITs promotion policy in March 2016. As a result of searching with real estate and REITs keywords, common keywords including real estate and REITs were ranked high in the first period before the government policy announcement, but in the second period after the policy announcement, keywords such as listing and public offering were changed. On the other hand, blogs and Internet cafes have not changed much over time due to the nature of their joint communities. As a result of the semantic network analysis, it was confirmed that the REITs are highly connected with the keywords such as public offering, dividends, securities, and listing in the 2nd period on the news and the blogs and that the awareness of the REITs. Compared to the transmission power of news, the negative image of existing real estate on blogs and Internet cafes was also an obstacle to the spread of REITs awareness. The results of this analysis are meaningful in that they present policy and institutional implications for revitalizing investors' access to REITs and laying the foundation for a sound investment market.
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More From: Journal of the Korea Real Estate Management Review
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