Domestic Construction Companies Research Articles

국내 건설기업의 인도네시아 건설시장 진출전략

국내 건설기업의 인도네시아 건설시장 진출전략

건설현장 안전관리 인력투입에 대한 효율성 분석

This study analyzed the safety management efficiency through input-oriented BCC Model using DEA by making of Models, in which this study selected the number of staff affiliated with the construction site, number of staff members on the construction team, and number of safety personnel as Input Factor, along with the number of disaster victims and zero-accident accomplished hours as output elements, targeting 40-or-so apartment building construction sites which are being built by 3 domestic construction companies. As a result of efficiency, it was 0.643, the number of efficient DMU was 4. In the aspect of returns to scale, 21 construction sites(52.5%) found to be in a state of increasing returns while 14 construction sites(35%) was in a state of Decreasing returns. The reason for inefficiency was found to lie in technical factors in case of 30 construction sites(75%). Lastly, inefficient DMU is in need of 38.9 % and 66% reduction in site personnel and safety personnel. Based on study results, the 29 construction sites accounting for 72.5% of DMU for safety management efficiency evaluation object turned out to do inefficient safety management that doesn't fit the size of each company.

IPA를 활용한 해외 건축 사업 PMC 분야 단계별 업무역량 분석

Overseas expansion of domestic construction over the past 10 years has been fast growing. But as a result of simple construction business practices and a focus on EPC, sales margins was reduced. Domestic construction companies have been trying to redirect business to high-value-added-areas but have faced difficulty because there areas are current monopolized by global leading companies in the field of PMC. They have recently carried out 16 PMC related project in order to expand their experience and increase their competitiveness. Most of these construction companies that do PMC overseas have been focusing on the civil engineering sector. analyzing the important and performance result 50 separate PMC tasks in detail using IPA, it became clear that domestic construction companies should also focus on tasks and were analyzed in order to advance to overseas architecture PMC sector overseas. There are large gaps in the importance and performance result of both the planning and pre-construction phase. Importance compared to the current performance levels in the planning phase gap is largest, pre-construction phase has been analyzed in the following order. In particular, one should strengthen detailed tasks in the planing phase. This study is expected to be used as a basic to determine the performance level and tasks items. It is expected strengthen the capacities of domestic companies in the PMC field, for especially in the high value-aded-areas as indicated in the results of the analysis from this study.

The Crack Control of Reinforced Concrete Structures

With the continuous development of the level of China's political, economic and social, the construction industry also obtained great progress. At the same time, the quality problems of all kinds of building has become a very serious problem which restricting the expansion of the scale of the enterprise. Along with the global integration, exchanges between domestic and foreign construction companies are becoming more and more frequent. The quality issues is in relation to the future of the construction industry. Only to deal with this problem, we can win in the international competition of the company. In the future for a long period of time, the construction industry will have a greater impact on the national economy of our country. If we can not solve the fundamental problem restricting the development of construction industry, the development of this industry will not sustainable. There is a very serious problem In the course of engineering construction which is the crack control of reinforced concrete structures. If this problem can be solved, we can produce a relatively good effect in the development of China's construction industry.

국내 건설경기 변화와 해외건설수주 간의 관계성 분석

Abstract : This study undertakes a comparative analysis of the correlation between the condition of the domestic construction market and the expansion of overseas projects within construction companies, based on the vector error correction model. The analysis results verified that, in the post-IMF crisis period, domestic construction companies took on more overseas projects only when the residential construction market slowed down. Compared to the pre-crisis period, construction companies grew more responsive to the condition of the domestic market for residential construction, and they took on more overseas construction projects when the domestic market slumped. This is because the business portfolios of Korean construction companies’ render them highly vulnerable to the condition of the residential construction market. When the domestic residential market slows down, the business condition of construction companies quickly takes a turn for the worse, and to cope with this, they turn to overseas projects to compensate for the slowing of the domestic market. As the analysis shows, expanding overseas construction projects as a way to turn around business condition amid a slow residential construction market actually undermines the management of the companies even further. In other words, shifting business focus toward an overseas market during a hard time might be useful for securing cash flow, but might not help to restore profitability. Thus, construction companies need to carefully manage their level of business diversification to ensure strategic flexibility.

건축물 외장재의 사용 현황과 친환경 성능

외장재에 대한 기존의 연구는 디자인 측면에서 계획적인 접근이 많아 외장재의 성능보다 외장재의 색채나 질감 등에 초점을 맞춘 연구가 많았으며 용도에 따른 공학적인 접근에서는 환경과 설비, 화재 구조 등 일반적인 연구 주제들에 국한되어 건물 유형에 적합한 외장재 선정과 성능제시에 관한 연구는 많지 않았다. 물론 최근 환경에 대한 관심이 높아지면서 친환경적인 관점에서 건축물 외장재의 연구가 이루어지고는 있으나 친환경적인 외장재 선택에 대한 실무적인 관점에서의 연구는 초보적인 단계이다. 따라서 본 연구에서는 최근 10여 년간 국내에서 사용된 외장재에 대한 사용 현황을 분석하고 건물용도별 외장재의 특성과 친환경적인 요소를 도출하여 향후 국내 건설업체 및 설계사무소 등이 친환경적이면서 성능이 적합한 외장재를 선택할 수 있도록 기본적인 정보를 제공하고자 하였다. 외장재 사용현황은 정량적인 빈도수 분석, 친환경 성능은 복합적인(정성+정량) 분석을 통하여 이루어 졌다. 조사된 건물의 외장재종류 개수의 평균은 2.59개로 나타났으며 유리, 금속, 석재, 수지, 시멘트, 목재, 점토 순서로 많이 사용되고 있었다. 4개의 친환경 외장재 특성에 의거하여 5종류의 고친환경재료를 선정하였으며 8가지 친환경적인 요소를 제시하였다. Existing studies of building exterior materials have focused on the colors or textures of cladding, and in terms of a design planning approach, have focused on the use of the environment and equipment and fire safety topics from an engineering perspective. As a result, little research has been done on performance guidelines for exterior materials, specifically according to the building type. Research into eco-friendly cladding materials is also in the rudimentary stage in a practical sense. In this study, the use of exterior materials over the last ten years in domestic construction was analyzed. The usage status of building exterior materials was evaluated quantitatively by frequency analysis, and its environmental performance is proposed through complex (qualitative + quantitative) analysis. The average value of the exterior material type number used for all analyzed buildings was 2.59. Glass, metal, stone, resin, cement, wood, and clay were used in that order with regard to the usage status. The analysis found that five of the materials satisfied the high efficiency and eco-friendly grading in terms of the four characteristics of an eco-friendly exterior. A list of eight eco-friendly elements was also proposed. The eco-friendly elements and characteristics of the exterior materials were derived to provide basic guidelines for domestic construction companies and design offices.

국내건설기업의 해외 프로젝트 입찰단계 우선집중역량 분석

Abstract: Overseas construction orders of domestic companies had been inc reased significantly in a short period from $10.9 billion in 2005 to $64.9 billion in 2012. However experts are concerned that quality of growth will not support quantitative growth. This study suggest concentrate competencies for not onl y winning in bid but also successful execution of domestic companies. 4 Steps which are Pre-Marketing, Bid-Preparation, Bi dding, Contract Phase are defined for competency assessment. After drawing specific tasks by phase, survey asking importance and capability of the tasks to the person in charge of bidding and site was conducted by utilizing Likert 7 point scal e. According to the result of IPA analysis, domestic construction companies need to ensure internal competencies; Pr oject risk review, Bid team organization, and external competencies; Client needs grasp, Localization strategy, Cooper ation establishment. Hearafter domestic construction companies will be able to utilize the result of the study for setting bid ding strategy for winning in bid and improving earning rate.Keyword : Overseas Project, Bidding Process, Concentrate Competency, IPA Analysis

건설기업의 공종다각화가 기업가치에 미치는 영향에 관한 연구 - 부실기업을 대상으로 -

This study empirically examined the relationship between firm value and work diversification strategy of insolvent construction companies. According to the result of the empirical study, there was a correlation in the linear regression analysis on the impact of domestic insolvent construction companies work diversification on firm value after controlling company scale, leverage ratio, revenue-increasing rate and debt ratio. Also, there was statistically significant result that a construction company with higher extent of work diversification has more firm value. In addition, when there more work with more than 10% of total revenue, the company has more firm value. The reason is believed that efficient capital allocation is done by proper diversification strategy. It also implies that indiscriminate work diversification strategy has negative impact on firm value. In conclusion, certain level of work diversification is more effective as a solution of insolvent construction company bankruptcy and workout program than intensification strategy. However, indiscriminate diversification to non-major works should be avoided to secure soundness and enhance competitiveness of the company.

기업 지식의 특성이 지식획득, 이전, 활용과 경영성과에 미치는 영향

오늘날과 같은 지식기반 산업에 있어서 지식은 기업의 경쟁력을 좌우하는 중요한 요인이라고 할 수 있다. 최근 국내 건설기업의 경우 기술력 제고와 정부의 부동산 규제정책에 따른 건설경기의 하락과 내수시장의 지속적인 불황으로 국내 외의 많은 불안정적인 요인들로 인해 어려움을 겪고 있다. 본 논문은 이러한 국내 건설업체들의 문제점을 해결하기 위해 기업조직이 보유한 조직지식의 속성이 조직 내 지식획득, 이전, 활용과 경영성과에 어떠한 영향을 주는지를 알아보고자 하는데 그 목적이 있다. 이를 위해 본 연구에서는 구조방정식 모형을 이용하여 국내 건설업체들이 조직지식 속성의 내부 요인들이 지식의 획득, 이전. 활용과 경영 성과에 어떠한 영향을 주는지를 실증분석 하였다. 본 연구의 결과 국내 건설업체들의 경우 기업지식의 속성이 지식획득, 이전, 활용에 유의한 영향을 미치며, 지식이전은 경영 성과에 유의한 영향을 미치는 것으로 확인하였다. In today's knowledge-based industries, knowledge can be said to be a significant factor that has a decisive impact on corporate competitiveness. Recently, Korean construction companies have been going through a difficult period of time because of various negative domestic and foreign factors, such as economic decline and a continued sluggish domestic construction market, mainly due to the Korean government's real estate regulations and increasing competition from overseas companies with improved technologies. To help domestic construction companies navigate such an environment, this study empirically analyzes how the nature of corporate knowledge impacts the acquisition, transfer and deployment of knowledge within the organization of a company. Through such empirical analysis, we looked into how internal attributes of corporate knowledge affect the acquisition, transfer and application of such knowledge for domestic construction companies, with the application of the structural equation modeling (SEM). According to the results of this study, it is clear that the attributes of corporate knowledge have a significant impact on the acquisition, transfer and application of corporate knowledge, and therefore on the managerial performance of domestic companies.

결합재 및 혼화제를 사용한 조강 콘크리트의 거푸집 탈형 시기 분석

건설공사에서 공기는 매우 중요한 요소로 건설사업비에 미치는 영향이 크다. 선진국들은 공기단축을 통해 건설사업비를 줄이고 있다. 국내 건설업체들도 공기단축을 위해 많은 노력을 기울이고 있지만, 공기단축 방법을 체계적으로 제시하지 못하고 있다. 일반적으로 골조공사의 공기는 거푸집의 존치기간에 영향을 받기 때문에 공기단축을 위해서는 거푸집의 존치기간을 단축해야 한다. 본 연구에서는 거푸집의 존치기간을 단축하기 위해 다양한 조건들의 조강콘크리트를 만들어서 압축강도 실험을 실시하였다. 이를 통해 거푸집의 탈형 시기를 제안하였다. 연구결과에 의하면 골조공사에 조강콘크리트를 사용하면 거푸집의 존치기간을 상당히 단축할 수 있는 것으로 나타났다. 본 연구결과들은 골조공사의 공기단축을 도모할 때 유용하게 활용될 수 있을 것이다. Construction duration in construction project is an important factor which affects project cost. Advanced countries have reduced project cost by time shortening. Even though domestic construction companies have tried to time shortening, they yet failed to find systematic method for time shortening. Typically, duration of structural framework is affected by stripping time of form. Therefore, it need to shorten the stripping time of form for time shortening of structural framework. In this study, specimens of high-early-strength concrete were manufactured with variety conditions and compressive strength was tested. This study proposed stripping time of side and slab forms using test results. The stripping time of form was shortened when using high-early-strength concrete in structural framework by the test results. The result of this study will be useful for time shortening of structural framework.

해외건설사업이 건설업체 재무적 안정성에 미치는 영향 분석

일련의 건설업체들의 사업 구조 변화 과정을 살펴보면 국내건설시장과 해외건설시장의 수주 규모가 건설업체의 재무적 상황과 특정한 관계가 있을 것으로 판단된다. 이러한 관점에서 본 연구에서는 해외건설사업과 건설업체의 재무 건전성 간에 관계성을 실증분석하는 것을 목적으로 한다. 본 연구에서는 유동성 지표는 유동비율을 안정성 지표는 부채비율을 분석에 활용하였다. 분석변수의 시계열 자료는 2000년부터 2010년까지의 분기별 자료이다. 본 연구에서는 유동비율과 해외 및 국내 건설수주액을 활용한 모형을 Model 1로, 부채비율과 해외 및 국내건설수주액을 활용한 모형을 Model 2로 구분하여 분석을 수행하였다. 분석결과 현재 해외건설수주액 증가가 유동비율을 증가시킴으로서 단기 자금회전은 원활히 할 수 있지만 전체적인 관점에서 부채비율을 낮추는 데에는 효과가 낮은 것으로 나타났다. 이에 따라 현재 급격한 해외건설사업 규모 증대를 긍정적인 현상으로 보기에는 무리가 있을 것으로 판단된다. The changes in business structure of domestic construction companies suggest that there is a close relationship between the volume of overseas project and a company's financial condition. Based on this assumption, this study conducts an empirical analysis on a relationship between overseas project and financial stability of a construction company. The ratio of liquidity and liability was used as liquidity index and stability index respectively. The analysis was based on quarterly time-series data between 2000 and 2010. Two models were constructed for the analysis: Model 1 was based on the liquidity ratio and the amount of domestic and overseas construction project; Model 2 was based on the debt ratio and the amount of domestic and overseas construction project. The analysis results showed that the increasing amount of overseas project facilitated short-term financing with greater liquidity, and yet it was not very effective in lowering the debt ratio. This suggests that the dramatic increase in overseas construction project, which is observed recently, is not entirely an optimistic sign.

Integrating the diamond theory and the 3C model: The construction companies in Taiwan

Following the completion and operation of the High Speed Railroad, many the construction of major public infrastructures in Taiwan would accomplish consecutively. After that, these domestic public constructions will only require maintenance and other jobs, which do not involve a high degree of professional technology. Those construction companies which own advanced technologies, professional talents and state-of-art equipments will have to seek opportunities form overseas and encounter the fierce international competition. Domestically, the consumers’ demands caused by the social and technological upgrade will also lead to the changes of the living environment. The construction industry will inevitably expect the next upcoming wave of changes. This study is to analyze, based on Michael Porter’s “Diamond Theory”, the strategic module for the market segmentation and positioning of the domestic construction companies. It is also hoped that the outcome of the study can help companies better understand their competitive advantages, and provide reference for construction operators to conduct company re-engineering.

발생영역별 리스크 위계에 따른 투자개발형 해외건설사업의 핵심 리스크 인자 도출 및 평가

The Korean Government recently has been focused on strengthening competitiveness of order and stimulating construction market in the international construction industry. It has planned to extend the ODPs (overseas development projects) in order to diversifying the international construction market of which is domestic construction companies, placing too much emphasis on plant projects of the Middle East. However, literature review of risk analysis in the ODPs shows that the number of case study is several. Therefore, Authors asserted the necessity of risk analysis in the ODPs. The purpose of this study is to suggest a methodology that find KRFs (key risk factors) in the ODPs and analyze them, using AHP and Fuzzy theory. As a result, the 37 KRFs are selected and explained characteristics of them. A future direction of this study is to suggest a risk management model in the ODPs and prove feasibility of it.

BDM 기법에서 양방향 다중 중복관계 일정계산 방법

오늘날 대부분의 건설 사업들은 점차 프로젝트의 규모가 고층화, 대형화, 복잡화되어 가고 있다. 이에 국내 건설기업들은 전체적인 공사 흐름을 파악하고 공정의 연결 관계를 고려하는 등 체계적이고 효율적인 공정관리를 위해 여러 가지 관리기법 및 도구들을 개발하여 실무에 도입하고 있다. 그러나 기존의 공정관리 소프트웨어들은 대부분 ADM, PDM기법을 기반으로 하고 있기 때문에 실무 적용 시 많은 문제점들을 발생시키고 있다. 그 중 PDM기법은 선 후행 작업의 착수시점과 완료시점 간의 조합만으로 작업 간의 중복관계를 우회적으로 표현하기 때문에 매우 비효율적이다. 이러한 기존 CPM기법의 단점을 보완하기 위해 직접적으로 작업 간 양방향 다중 중복관계를 표현할 수 있는 새로운 CPM 공정관리기법인 BDM(Beeline Diagramming Method)기법이 제안되었다. 그러나 양방향 다중 중복관계를 표현하고 일정계산을 하게 되면 루프(Loop)현상이 발생하게 된다. 본 연구에서는 BDM기법의 일정계산 방법에 대해 연구하여 양방향 다중 중복관계에서 루프가 발생했을 때 일정계산을 원활하게 할 수 있는 방법에 대해 제안 및 검증을 하고자 한다. Today, most construction projects have been higher, bigger, and more complicated gradually. So the domestic construction companies have been trying to understand overall construction process and relationships between activities, and adopted various management techniques and tools in order to perform a systematic and effective scheduling. However numerous problems have been occurred on the practical applications because most existing scheduling softwares adapt ADM and PDM techniques. One of them, PDM, is so uneffective because it represents the overlapping relationships between two consecutive activities only by the combinations of start and finish points between two activities. In order to supplement the demerit of PDM, Beeline Diagramming Method(BDM) is proposed as a new networking technique, it can represent two-way multiple overlapping relationships between two activities directly. However there are occurring a loop phenomenon on applying two-way multiple overlapping relationships. This research proposes and verifies the schedule computation method of two-way multiple overlapping relationships on the BDM network.

해외건설시장 진출을 위한 건설사의 Pre-construction Service 핵심역량 분석

In 2011, overall construction markets in KOREA are highly depressed due to decreases in orders of domestic construction markets in both private and public field. Also, we are losing competitive advantages over Chinese and Indian companies owing to market shares on plant construction projects excessively. It is recognizable, under circumstances that we are in interior position on high value technique to other advanced countries, that orders of mega building and plant construction projects tend to be placed through the Pre-construction Service, importance of which has been emphasized domestically and internationally in recent time. However, current domestic construction companies show scarcity in understanding general idea of Pre-construction Service and fail in building proper structure of it. It is obvious that they cannot have any competent strategy to deal with Pre-construction Service. The Purpose of this paper is to analyze core competence throughout preconstruction phase and, and make up for weakness in current pre-construction service process.

Method for Composing a Portfolio for REITs Investment Using Markowitz's Portfolio Model

Domestic construction companies are suffering from financing difficulties in the wake of the economic slump in Korea and abroad. During this economic slump, real estate investment trusts (REITs), facilitators for improving financing and stimulating construction businesses, have increasingly expanded since their introduction in 2001. However, in terms of growth speed and marketing size, Korean REITs are falling behind those of other nations. The purpose of this study is to suggest a method for composing a portfolio using the Markowitz portfolio selection model to stimulate REITs. The main contents are as follows. First, a comparative analysis was conducted of increased REIT profit with the application of the Markowitz model and the average REIT profit rate from July 3, 2007, to July 21, 2008, during the investment analysis periods. The results showed that the total profit rate from the Markowitz model was about 10% higher than the average REIT profit rate. Second, the sensitivity was analyzed according to the portfolio's data-gathering and replacement cycle to measure the optimum cycle and yield. The six-month profit data collection period showed about 16% higher profits with the Markowitz model than with the REITs. The two-week portfolio change period resulted in about 11% higher profits with the Markowitz model than with the REITs

공동주택의 서비스품질이 고객만족도 및 재구매에 미치는 영향에 관한 연구

국내 건설시장의 본격화된 경쟁적인 환경 속에서 건설사들은 소비자 만족도의 향상을 통하여 경쟁력 확보에 노력을 기울이고 있다. 고객 만족에 많은 영향을 미치는 하자처리 과정에 있어서 서비스 품질의 향상이 필요할 것으로 사료된다. 따라서 본 연구에서는 서비스 품질, 고객만족도, 재구매 의사와의 관계를 실증적으로 조사, 분석하여 건설회사의 하자처리 서비스 품질을 개선할 수 있는 자료를 제시하고자 한다. 이를 위해 서비스 품질의 개념, 하자처리, 고객만족에 관한 선행연구를 통하여 영향을 미칠 수 있는 항목들을 파악하고, 파악된 항목을 토대로 거주자들을 대상으로 설문조사를 실시하였다. 본 연구 결과 나타난 고객 만족도, 재구매의사에 많은 영향을 미치는 서비스 품질요소의 인식과 개선노력을 통하여 건설사의 경쟁력 확보에 기여할 것으로 판단된다. In increasingly competitive market conditions, domestic construction companies are struggling to secure a competitive edge by increasing consumer satisfaction. In these circumstances, a greater emphasis needs to be put on providing an upgraded level of quality in the area of addressing defects to the satisfaction of customers, which is considered to have a great impact on customer satisfaction. This empirical study of the relationships among service quality, customer satisfaction, and repurchase intention aims to provide basis data for increasing service quality, particularly in dealing with the defect issues facing construction companies. To this end, a literature review was carried out on the concept of service quality along with defect issues, and customer satisfaction and influential factors were identified. Building on these foundations and findings, a survey was administered to residents in housing dwellings such as apartments. The results of this study are expected to heighten awareness of the need for increased service quality, which may have a critical influence on customer satisfaction and repurchase intention, and will thereby contribute to enhancing competitiveness and other aspects of the current construction industry.

일반건설업체 현장관리자의 직무별 업무수행수준 및 영향요인 분석

최근 세계적인 경기침체로 인하여 많은 산업이 불황을 겪고 있으며, 건설업 또한 많은 어려움을 호소하고 있다. 이러한 경기침체를 극복하기 위해 건설회사들은 경영의 최적화와 관리조직의 슬림화 등을 통한 공사의 효율성과 생산성 향상을 위하여 많은 노력을 기울이고 있다. 특히, 건설프로젝트 수행의 효율성과 생산성은 현장조직과 관리자 개개인의 업무수행능력에 크게 좌우되므로 현장관리 조직 및 관리자의 역량 및 업무수행능력의 향상은 많은 건설회사의 중요한 과제이다. 이에 본 연구는 일반건설업체 현장관리자들의 업무내용을 직무별로 도출하여 각 업무의 중요도 및 업무량과 업무난이도를 분석하고 관리자들의 직무별 업무수행수준 및 업무수행능력에 영향을 미치는 요인을 분석함으로써, 향후 건설공사 수행에 있어 공사의 효율성과 생산성 향상을 위한 개선방향 모색의 기초자료를 제시하였다. Along with the recent economic downturn, domestic construction companies have also faced with many difficulties and obstacles. To overcome this situations, now they are trying to continuous efforts to improve efficiency and productivity of project performance through many means including the reduction of fixed cost expenditures. Level of work performance of construction field managers is very important factor of productivity improvement for successive performance of construction project. This study attempts to analyse level and influence factors for work performance of field managers in construction companies through analysis of work burden and level of work performance. Also this study attempts to present basic data of the improvement directions for enhancing construction efficiency and productivity in future.

마코위츠 포트폴리오 모형을 사용한 리츠 투자 포트폴리오 구성방법에 관한 연구

국내 외 경기 침체의 영향으로 국내 건설업체들은 자금조달의 어려움을 겪고 있다. 이러한 경기 침체기에 자금의 유동화와 건설경기의 활성화를 촉진할 수 있는 리츠 제도가 2001년에 도입되어 점차 확대되고 있지만, 비슷한 시기에 도입한 다른 나라에 비해 성장속도 및 시장규모가 작은 편이다. 본 연구에서는 리츠의 활성화를 위하여 보다 높은 수익률 확보를 위한 포트폴리오 구성 방법으로, 마코위츠 포트폴리오 선정 모형을 적용한 리츠 투자 포트폴리오 구성 방법에 대해 제안하고자 한다. 주요 내용은 다음과 같다. 첫째, 2007년 7월 3일부터 2008년 7월 21일까지의 투자분석기간 동안 마코위츠 모형을 적용한 리츠의 투자결과와 비교대상 리츠들의 평균 수익률을 비교하여 수익률 향상정도를 분석하였다. 그 결과 마코위츠 모형을 적용한 수익률이 비교대상 리츠들의 평균 수익률보다 약 10% 높게 나타났다. 둘째, 기존 수익률의 자료 수집기간과 포트폴리오 교체주기에 대한 민감도 분석을 하여, 최적의 수익률을 나타낼 수 있는 자료 수집기간과 포트폴리오 교체주기를 도출하였다. 수익률 자료 수집기간이 6개월 일 때 비교대상 리츠들의 평균 수익률보다 마코위츠 모형을 적용한 수익률이 약 16% 높게 나타났으며, 포트폴리오 교체주기를 2주 간격으로 설정하였을 때는 약 11% 높게 나타났다. Domestic construction companies suffer from the difficulty in financing in the wake of economic slump at home and abroad. In the periods of this economic slump, which hit the nation REITs, the facilitator of fluid financing and the stimulating of construction economic, has increasingly been expanded since its introduction in 2001. But, REITs relatively falls behinds any other nations, in terms of its growth speed and marketing volume. The purpose of this research thesis is to suggest the method for composing a portfolio using Markowitz portfolio selection models for stimulating REITs. Main contents are as follows. First, the thesis made the comparative analysis on profit increase in REITs investment in application of models by Markowitz and REITs derivatives from 2007/07/03 to 2008/07/21 during investment analysis periods. The result showed that total profits by Markowitz model amounted to about 10 percent higher than average profits of REITs derivatives. Second, this thesis made the analysis on sensitivity of data-gathering and portfolio change periods of the existing profits, in order to measure the both periods and yield optimum profits. The six month data-collecting periods of profits accounted for some 16% higher profits than profits of REITs derivatives. In case when the two week periods of portfolio change accounted for some 11% higher profits than profits of REITs derivatives.

해외 개발사업의 경쟁력향상을 위한 단계별 리스크 요인분석 - 개발도상국 신도시 개발사업을 중심으로 -

Recently, domestic construction companies have been moving towards overseas markets due to decreasing orders and an increase in competitiveness within the domestic market. However, there is a higher risk involved in the overseas construction Industry than in the domestic construction industry. Especially, because domestic construction companies lack development's experience, such a companies have a weakness of hidden risk factors. For Overseas New Town development project's success of domestic construction companies, preferentially, It Is necessary to deduce and analysis of risk factors in real estate development phases. This study would possibly be able to provide the preliminary data for Overseas New Town development projects in the future.