• The Korean Journal of Financial Management
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• v.24 no.4
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• pp.163-199
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• 2007

This paper studies the stock market in which there are two types of investor, institutional and individual, whose information gathering and processing abilities are different. The institutional investor manages large funds and has powerful information sources. Whereas, the individual investor trades with a small amount of money and an information disadvantage. The model assumes that the institutional investor is more experienced and able to acquire relevant information earlier than the individual investor. On these assumptions, this paper shows a price continuation in the short run and a price reversal in the long run. The price continuation, or momentum, in the short run can be explained as follows. The early-informed institutional investor trades a stock, and as a result the stock price changes. Then the late-informed individual investor trades the same stock, and the stock price continues to move in the same direction in the short run. The reason for the price reversal in the long run is that since the individual investor has inferior information on the fundamental value of the stock, he tends to overreact to new information. So the stock price changes over its fundamental value initially and then regresses toward its fundamental value. In sum, both the price continuation and the price reversal are caused by the overreaction of the individual investor. The essay illustrates how these phenomena are stronger in the case where the proportion of the individual investor is higher. It also shows how the stock price goes up when the institutional investor buys a stock, while it goes down when the individual investor buys one.

• 농업기술회보
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• v.48 no.4
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• pp.4-9
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• 2011

지난 6월 2일 국회에서 열린 농림어업용 면세유 영구화 논의를 위한 토론회가 개최되었다. 현행 "조세특례제한법"에서 1998년부터 각종 세금 등을 면제하여 가격을 인하해 공급하고 있는데, 일정기한 한시적으로 운영하겠다는 취지에서 일몰규정을 두어 운영하고 있어 2012년 6월 말 일몰이 도래할 예정이다. 이에 재연장 방안이 아닌 영구화 방안을 모색 추진하고자 한다.

• 주류산업
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• v.24 no.1
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• pp.30-48
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• 2004

국내 알코올공업은 주류공업의 발전으로 요약할 수 있다. 특히 주정공업의 발전은 농업정책과 국민보건 차원에서 원료의 배정, 공동 주정판매 및 가격 고시제 등 제한적인 규제 하에서도 괄목할 만한 성장을 거듭해 왔다. 내년부터주정수입 및 시장이 완전 자율화됨으로서 무한경쟁시대를 앞두고 있다. 경쟁력 우위를 확보하기 위해서는 주질 향상과 더불어 생산원가 절감이 필수적이다. (중략)

• The Journal of Korean Institute of Communications and Information Sciences
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• v.40 no.9
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• pp.1802-1807
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• 2015

The cloud computing service provides physical IT resources to VM instances to users using virtual technique and the users pay cost of VM instances to service provider. The auction model based on cloud computing provides available resources of service provider to users through auction mechanism. The users bid spot instances to process their a job until its deadline time. If the bidding price of users is higher than the spot price, the user will be provided the spot instances by service provider. In this paper, we propose a new bidding strategy to minimize the total cost for job completion. Typically, the users propose bidding price as high as possible to get the spot instances and the spot price get high. we lower the spot price using proposed strategy and minimize the total cost for job completion. To evaluate the performance of our strategy, we compare the spot price and the total cost for job completion with real workload data.

• 한국신재생에너지학회:학술대회논문집
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• 2008.05a
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• pp.83-86
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• 2008

정부는 2006년 8월 기존의 발전차액 지원제도를 개정하여 발전차액 기준가격 지원대상 확대, 적용기간의 15년 단일화, 수력, 바이오에너지는 고정요금과 변동요금 중에서 선택할 수 있는 선택권 부여, 기술발전에 따라 태양광, 풍력, 연료전지는2-3년간의 유예기간 이후 매년 감소율을 적용하여 기준가격을 낮추는 등 많은 제도개선 내용을 반영하였다. 2006년 10월부터 개정된 발전차액 지원제도가 시행된 이후 태양광, 풍력의 신규진입이 대폭 증가하였고 수력, LFG, 바이오가스는 대부분 변동요금을 신청하였으며 2007년 집행된 신재생에너지 발전차액 기반기금의 55% 이상이 태양광발전에 지급되는 편중현상의 영향이 나타났다. 따라서 변동요금 설계시보다 SMP 평균이 22원 이상 높아져 변동요금의 재설계, 태양광 발전의 기반기금규모가 55% 이상을 점유하고 있으며 향후 더욱 심화될 예정이므로 특정전원의 기반기금 점유비중 제한 및 최근 수년간 준공된 신재생에너지의 운영실적을 분석하고 법적요건을 상세히 검토하여 투자비, 운영비, 이용률등을 재조정하여 기준가격을 합리적으로 개정하여 제2의 신재생에너지 도약기를 마련해야 할 것이다.

• The Journal of Korean Medicine
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• v.17 no.2 s.32
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• pp.34-47
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• 1996

We have seen a sharp increase in the utilization rate of medical services since the launch of Nation Health Insurance system in 1989. However, the market share of oriental medicine in the Korean health sector has been gradually diminished mainly due to low insurance coverage and high price. Especially high price as an entry barrier to oriental medical services has played a major role in decreasing market share. This paper investigated the effects of price discount on the financial condition and market share of oriental medical institutions. Microeconomic theory and multiple regression analysis were used as a methodology in testing the alternative hypothesis: price discount of enveloped herb drug will result in increases in both the revenue and market share of oriental medical institutions. Data was collected from the statistical yearbook and sample survey. The price elasticity of demand for enveloped herb drug was estimated at 5.8 during 1987-1995 period, which means that a 1% decrease in price will bring about a 5.8% increase in the utilization of oriental medical services. The empirical result shows that a drastic price discount for the enveloped herb drug will eventually improve the financial status of the oriental medical institutions and enlarge the market share of oriental medicine in the Korean health care sector.

• Land and Housing Review
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• v.4 no.1
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• pp.43-54
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• 2013

This This paper investigates the variation of the factors to determinate housing price in Seoul metropolitan area after sub-prime financial crisis, in Korea, using a VAR model. The model includes housing price and housing rent (Jeonse) in Seoul metropolitan area from 1999 to 2011, and uses interest rate, real GDP, KOSPI, Producer Price Index and practices to impulse response and variance decomposition analysis to grasp the dynamic relation between a variable of macro economy and and a variable of housing price. Data is classified to 2 groups before and after the 3rd quater of 2008, when sub-prime crisis occurred; one is from the 1st quater of 1999 to the 3rd quater of 2008, and the other is from the 2nd quater of 1999 and the 4th quater of 2011. As a result, comparing before and after sub-prime crisis, housing price is more influenced by its own variation or Jeonse price's variation instead of interest rate and KOSPI. Both before and after sub-prime financial crisis, Jeonse price is also influenced by its own variation and housing price. While after sub-prime financial crisis, influences of Producer Price Index, KOSPI and interest rate were weakened, influence of real GDP is expanded. As housing price and housing rent are more influenced by real economy factors such as GDP, its own variation than before sub-prime financial crisis, the recent trend that the house prices is declined is difficult to be converted, considering domestic economic recession and uncertainty, continued by Europe financial crisis. In the future to activate the housing business, it ia necessary to promote purchasing power rather than relaxation of financial and supply regulation.

• The Korean Society of Law and Medicine
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• v.19 no.2
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• pp.75-98
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• 2018

Recently, the antitrust tribunal of Seoul High Court revoked the disposition of Korea Fair Trade Commission(hereafter 'KFTC'). While KFTC determined that the restriction of Korea Pediatrician Association violated article 26 of the Monopoly Regulation and Fair Trade Act(Korean antitrust law), Seoul High court viewed that KFTC failed to prove the compulsory measures and the restraint of competition required in article 26. The 'restriction' of article 26 should be interpreted as 'excessive restriction'. Since entrepeneurs' organization is allowed to limit its member's activities, KFTC could regulate entrepeneurs' organization on a very exceptional basis. In addition, though entrepeneurs' organization did not use compulsory measures to enforce its resolution, its 'excessive restriction' could fit into the notion of 'restriction' of article 26. Under the current medical care system, the price of medical care is decided by Korean government. Therefore the restriction of Korea Pediatrician Association is not likely to have effect on the price. However, the resolution of Korea Pediatrician Association was aimed to decrease the supply of medical care. Therefore the resolution is capable of having effect on the competition. In this sense, though KFTC failed to submit direct evidence to support the decrease of quantity, there could be possibility of restraint of competition. The Seoul High Court's decision has important implications. The leading case on restraint of competition(Supreme Court 2002Du8628, Posco case) was delivered in 2007. However the remaining issue such as the standard and scope of restraint of competition is not clear. Through reappeal case of this decision, Supreme Court has to decide the line between competition and its restraint.

• The Journal of Information Technology
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• v.1 no.2
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• pp.119-141
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• 1998

The main contents of WTO agricultural product agreement are composed of $\circled1$ market access $\circled2$ domestic subsidy and reduction of export subsidy $\circled3$ preferences for developing countries. But there still remains the possibility of laying a protection barrier within WTO regulations. That is to say, with the application of quota system, tariff rate quota system, or different quotas on different countries, and with the practices of government control trade and mark up. This paper is for studying the application of these protection barriers to minimize the impact of agricultural market opening.

• 해운
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• s.92
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• pp.16-26
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• 2012

유럽연합(EU)의 집행위원회(European Commission)가 국제 화물운송료를 담합한 글로벌 물류기업에 대규모 과징금을 부과했다. EU 경쟁당국은 쿠네&네이젤(Khune+Nagel), 판알피나(Panalpina), 유피에스(UPS) 등에 총 1억 6,900만 유로의 과징금을 부과했다. EC는 총 14개의 회사가 화물운송 가격 담합에 가담하여, 미국 유럽 아시아 등으로 운송되는 화물의 운송비를 불법적으로 책정한 것으로 판단하였다. 한편 DHL은 자진신고를 통해 리니언시(liniency) 적용으로 과징금을 부과 받지 않았다. 유럽연합은 이러한 국제카르텔에 대한 법집행 차원에서 과징금 부과 및 당해행위에 대한 금지명령 등 행정적 제재를 강화하며, 세계 경쟁정책 및 법집행을 주도하고 있다. 또한 유럽연합은 해운동맹 폐지를 비롯한 해운업계의 반경쟁적 행위에 대한 제한도 강화하고 있다. EU는 2008년 10월부터 해운동맹의 공동가격설정 및 선복량 조절 행위를 금지하고 있다. 유럽집행위원회는 지난해 5월 초 13개 컨테이너 선사의 유럽 사무소를 기습 감사, 조사하였다. 현재 EU는 자료조사 중이며 결과는 아직까지 확인되지 않고 있다. EU의 조사는 상당히 지체되는 경향이 있는데, 향후 추가 질의서 요구가 예상되며 불법행위가 밝혀질 경우 개별 기업 글로벌 수익의 10%에 해당하는 벌금 부과가 가능하며, 영국에서는 형사고발도 가능하다. 다음은 한국해양수산개발원 최영석 전문연구원이 발표한 "국제해운의 해운동맹 폐지 및 담합행위 제한 강화"의 주요 내용을 요약정리한 것이다.