The influencing factors for profit of office building management

The aim of the study is to analyze the effects of change in macroeconomic and region-specific variables on office building market and management profit. The theoretical reviews were performed by literature review including previous studies and resource survey, and the Vector Error Correction Model was adopted since the variables of models have characteristics of time series change. The empirical analytical methods used in this study were unit root and cointegration tests. Lastly, the influencing factors were identified and the type and explanatory power of the effects were determined in impulse response analysis and variance decomposition analysis. The results showed that the profit is most sensitive to GRDP and followed by UR and EAP and that the magnitude to remaining variables are not significant throughout time series. The real property management companies should consider current statues and measures for future development of regional economics. The real property market, especially, has very regional-specific characteristics, indicating that the understanding of regional office building market to improve the profit of office building management.