• Journal of Korea Port Economic Association
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• v.39 no.4
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• pp.223-242
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• 2023

This study analyzes the spillover effects of returns and volatility between the commodity market and the maritime freight market across various frequency domains (short-term, medium-term, long-term). The key findings of the study can be summarized as follows. First, from the perspective of returns, a high linkage is observed in the short-term between the commodity and maritime freight markets, with the metal commodities market playing a particularly significant role in information transmission effect of return series. Second, in terms of volatility, the total connectedness increases from the short- to the long-term, with substantial long-term risk transmission effects observed especially in the BDI, BDTI, agricultural, and energy commodity markets. Notably, during major global events such as the U.S.-China trade war, COVID-19, and the Russia-Ukraine conflicts, a marked increase in the risk transmission effect in the energy commodities market was identified.

• Journal of Digital Contents Society
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• v.13 no.3
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• pp.385-392
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• 2012

The definition of the product market in a supplier's point of view can cause various problems in the market activities of companies because specific situations are excluded and the consideration for discontinuity is lacking by identifying segmented markets with processes, raw materials, the similarity of product functions and so forth. Furthermore, as this definition is static and general, it is difficult to express and predict the dynamic market changes. Meanwhile, customer-oriented market segment can be obtained by grouping substitutable products and related customers in the situation pursuing specific benefits. This definition of the product market enables us to find threats and opportunities emerging in markets and promotes effective performance assessments and resource allocation. The purpose of this paper is suggesting a framework to select data mining techniques proper for the customer data characteristics to identify customer oriented product market.

• 사회경제평론
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• no.38
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• pp.129-161
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• 2012

This paper suggests that, in contrast to main argument of Efficient Market Hypothesis, hedge funds's financial speculation activity in the commodity markets are tending to generate a malfunction of making future price diverge from fundamental price. For this reason, we insist that stricter regulation on commodity derivative markets, including position limitation, is needed. Using some statistic analysis tools, we show that derivative transaction volume is getting so larger that financial speculation by hedge funds dominates price movement in commodity market and eventually slackens the speed of price's return to the fundamental price.

• Journal of the Korea Society for Simulation
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• v.24 no.4
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• pp.97-106
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• 2015

In recent, hybrid market segmentation techniques have been widely adopted, which conduct segmentation using both general variables and transaction based variables. However, the limitation of the techniques is to generate incorrect results for market segmentation even though its methodology and concept are easy to apply. In this paper, we propose a novel scheme to overcome this limitation of the hybrid techniques and to take an advantage of product information obtained by customer's transaction data. In this scheme, we first divide a whole market into several unit segments based on the general variables and then agglomerate the unit segments with higher QAP correlations. Each product network represents for purchasing patterns of its corresponding segment, thus, comparisons of QAP correlation between product networks of each segment can be a good measure to compare similarities between each segment. A case study has been conducted to validate the proposed scheme. The results show that our scheme effectively works for Internet shopping malls.

• KDI Journal of Economic Policy
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• v.19 no.3
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• pp.3-74
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• 1997

우리나라의 과거 노사관계 개혁을 평가하고 향후 노사관계의 진로를 모색하기 위해서는 우리나라 노동시장기능(勞動市場機能)에 대한 정확한 인식이 필요하다. 노사관계에 있어서 제도개혁(制度改革)과 시장기능(市場機能)은 밀접히 연관되어 잇다. 본고에서는 우리나라에서 1987년과 1997년의 두 차례에 걸쳐 이루어진 노사관계 개혁을 '노동시장(勞動市場)의 성과(成果)(labor market performance)'를 분석함으로써 평가하고자 하였다. 본 연구에서는, (1)우리나라 노동시장에서는 상품시장의 경쟁이 제한되어 있는 대기업부문을 제외하고는 시장의 가격기능(價格機能)이 기본적으로는 작동하고 있으며, (2)우리 노동시장의 경직화(硬直化)가 수급상황(需給狀況)의 변화에 따라 진행되고 있는바 시장기능(市場機能)을 보다 강화하기 위한 제도개혁(制度改革)이 요구되고 있고, (3)노사관계에 대한 시장규율(市場規律)(market discipline)을 강화하기 위해 상품시장에서의 경쟁 촉진, 공공부문의 개혁, 노동정책 틀의 변화 등이 요구된다는 결론(結論)에 도달하였다.

• Proceedings of the Korea Information Processing Society Conference
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• 2014.04a
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• pp.578-581
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• 2014

은행의 경영환경은 급변하고 금융시장에서의 경쟁은 심화되고 있는 가운데 은행의 경쟁력 확보는 상품의 시장 진입 속도에 달려있으나, 상품 개발의 지연으로 시장 점유율의 확대 기회를 놓치고 있는 실정이다. 이에 국내 은행들은 시장 선점을 위해 IT기반의 금융 신상품 개발에 많은 투자를 하고 있다. 본 연구는 신속한 금융 신상품 개발을 위해 상품 조건들을 레고 블록처럼 조립하면 쉽고 빠르게 상품이 만들어 지는 IT기반의 상품 팩토리의 아키텍처와 상품 생성 관계도를 정의하며, 변동금리와 층화(Tier) 계층의 상품 생성에 효율적인 매트릭스 조건의 이율형을 제시한다. 아울러 이러한 기반을 활용한 시스템의 개발 생산성과 프로젝트의 특성 및 효과 등을 검증한다.

• International Area Studies Review
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• v.14 no.1
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• pp.99-119
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• 2010

This study explores the natural gas market and the oil market in the U.S. and the European oil market. It focuses on two kinds of analyses; one is to confirm whether there is the predictive power between spot and futures within homogeneous commodity market(or inter-heterogeneous commodity market) through Granger-causality test in terms of the return rate and the volatility. The other is to examine the spot price stabilizing effect of futures price through regression analysis. When it comes to the predictive power of inter-commodity market, there was a conflicting aspect between the return rate of spot and futures. Overall, however, its statistical significance was low. With respect to the volatility, we found that the natural gas market has little influence on the oil market unlike the predictive power of oil market on natural gas market. Concerning the return rate of the predictive power within homogeneous commodity market, we found that the return rate of spot has the predictive power on futures only in the European market. In addition, we identified that there is feedback between spot and futures in the all commodity markets regarding volatility. As a result of the spot price stabilizing effect analysis of futures price, futures volatility increased the spot volatility.

• Vending industry
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• v.5 no.3 s.15
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• pp.62-69
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• 2005

해마다 자판기 시장은 뉴트랜드를 조성하는 기획상품이 등장하기 마련이다. 작년 하반기부터 올 상반기까지는 끓인 라면자판기 시장이 이런 흐름을 형성했고, 올 하반기 들어서는 노래방 특수조명자판기 시장이 그 뒤를 잇고 있다. 대개 이런 뉴트랜드 기획상품들은 순식간에 시장과 점을 불러일으키는 게 특징이다. 그만큼 사업적인 타이밍이 중요하기 때문에 빨리 시장을 선점해야지 속칭 '막차'를 타가지고는 경쟁에서 살아남기 힘들다. 이런 이유로 노래방, 유흥업소 등을 타킷으로 하는 특수조명자판기 시장은 최근 불붙고 있다. 제품 컨셉이 엇비슷한 제품들이 속속 선을 보이며 시장을 뜨겁게 달구고 있는 것. 이제 관심사는 업체들의 뜨거운 열의만큼 시장에서 성공할 수 있을지 여부이다. 자칫 단기 기획상품으로 의욕만 앞서는 시장이 되지 않을 까 하는 우려의 목소리도 있다. 노래방 특수조명자판기 시장을 둘러싼 뜨거운 시장 경쟁을 살펴보고, 장기적인 유망 시장으로 자리매김하기 위한 과제에 대해 살펴보는 시간을 마련했다.

• International Area Studies Review
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• v.21 no.2
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• pp.143-169
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• 2017

This paper empirically examines how capital structure inertia varies across industries and there is different in industries, and whether this fact is explained by product market competition using non-financial firms listed in KOSP market over periods of 1981 to 2015. In empirical test, I find that firms with more competition environment tend to have inertia behavior in making decision of capital structure. This implies that it is explained by debt discipline effect and it is substitution for product market competitions. Also I find that manager tends to take action actively making decision of capital structure when product market competition is low. Also I show that they use debt to constraint the free cash flow. As a result, I conclude that Korean non-financial firms do not have more strong inertia behavior in capital structure rather than U.S. firms. Second, using OLS estimation, inertia effect disappears while there is strong inertia effect in relationship between inertia and product market competition. This result suggests that transaction cost is not key factor in explaining inertia behavior of capital structure.

• Journal of the Korean Society for information Management
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• v.32 no.3
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• pp.183-197
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• 2015

The purpose of this conceptual paper is to identify the library services market and its characteristics versus the common commodity market so that marketing and management in library services can be more fruitful in terms of research and development. Based on the developed hypothetical market, a library services market is identified; the market is then characterized in comparison to the common commodity market using three theoretical characteristics of the library services market: indirect exchange, limited competition, and time-lagging exchange. Based on these characteristics, two possible research directions are suggested: development of goals for library management and consideration of applications in library marketing.