부동산경매에서 유치권이 매각가율에 미치는 영향분석

다국어 초록 (Multilingual Abstract)

This study empirically analyzes how mechanical liens affect the auction sales price ratio by comparing two competing hedonic pricing models. While most existing studies use unverified mechanical lien information as an independent variable, this study uses verified lien information as an independent variable by searching all court cases on the court’s comprehensive legal information website. The empirical analysis confirms the results of previous studies. By comparing the mechanical lien status in the auction information and the verified mechanical lien status confirmed by the court judgment as independent variables, we identify the information asymmetry problem caused by the current mechanical lien system. As a result, we find differences in the proportion of the true lien status and the auction sales price ratio. The adverse selection caused by information asymmetry suggests the need to improve the operation of the mechanical lien system.