CAJ | 학술논문

根据金融共生理论,房地产市场中地产开发商、个人投资者和商业银行间存在一种金融共生关系。通过构建三者的金融共生模型,可以得知房地产市场存在结构性缺陷。而不动产投资信托这种投资方式可以解决房地产市场所具有的这种结构性缺陷,从而可以规避房地产投资的金融风险,避免美国＂次贷危机＂式金融危机的发生。
근거금융공생이론,방지산시장중지산개발상、개인투자자화상업은행간존재일충금융공생관계。통과구건삼자적금융공생모형,가이득지방지산시장존재결구성결함。이불동산투자신탁저충투자방식가이해결방지산시장소구유적저충결구성결함,종이가이규피방지산투자적금융풍험,피면미국＂차대위궤＂식금융위궤적발생。
According to the financial symbiosis theory,there is a financial symbiotic relationship among the real estate developers,individual investors and commercial banks in the real estate market.By building financial symbiosis model of them,it is easy to tell a structural defect in the real estate market.And the real estate investment trusts（REITs） or investing in this ways can solve such a structural defect of real-estate market,which could circumvent financial risk of the real estate investment,and avoid the US-style ＂sub-prime mortgage crisis＂ of financial crisis.