공간자기상관이 컨벤션센터의 성과에 미치는 영향 - 공간패널 회귀모형을 적용하여 -

Abstract

The purpose of this study is to identify the existence of spatial autoregressive among the convention centers in Korea and to examine more appropriate spatial panel models for the study. This study is conducted by the several spatial panel regression models such as SDM, SEM, SAR, and SEM to identify the existence of the spatial autoregressive among the convention centers. The sample data were collected through the financial statements provided by DART or the individual convention center's web site, from 2014 to 2019. The dependent variable used in the study is the revenue of convention centers and the independent variable is a spatial weighted matrix created by the distance between each convention center. Control variables are cost, current ratio, debt ratio. The XSMLE package of STATA program was used for the analysis. The empirical results show that the spatial dependence is existed between convention centers with the negative coefficient value. it implies that the convention centers in Korea are in a competitive relationship. In other words, the closer from other convention centers are, the more negative performance would be occurred. In addition, the cost, current ratio, and debt ratio had a positive impact on the revenue of convention center. Thus, the distance between convention centers can be considered as an important factor that could affect the performance of the convention center in Korea.