• Journal of the Korea Convergence Society
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• v.13 no.4
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• pp.373-381
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• 2022

The Fukushima nuclear power plant water spill caused by the Great East Japan Earthquake in March 2011 raised fears about radiation exposure through consumption of radioactively contaminated seafood. The Korean government banned importing agricultural and fishery products from eight prefectures near Fukushima, but the related news were continuously reported partly due to the WTO dispute with Japan, which seems to have aggravated consumers' anxiety about seafood. In this study, data on daily purchases of products for three years (2018-2020) were collected and the effect of Japanese radiation-related news on domestic consumers' purchases of seafood was estimated using a polynomial lag distributed model. As a result of the analysis, it was found that radiation-related news had a statistically significant negative effect on the purchase of seafood on the 5th and 6th days after exposure to consumers through the media. It captures the carryover effect in which consumers' perceptions are reflected in the purchase of seafood after exposure to related news.

• Journal of Environmental Policy
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• v.14 no.4
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• pp.63-101
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• 2015

Banking and borrowing under the ETS may affect the low carbon technology investment level. If the indirect implementation measures are allowed, firms can gradually adjust their carbon reduction costs between implementation periods based on their carbon reduction costs and emission price forecasts. This implies that banking and borrowing may reduce or increase the level of low carbon technology R&D investment. In an oligopoly market, the effects of the measures are quite different from the ones in a perfectly competitive market. This is because the indirect implementation measures can shift market competition in Cournot competition model. The effects of banking and borrowing on the carbon reduction R&D investments depend on emission reduction costs, marginal production costs, discount rate, initial free allocation, and the cost reduction effects of R&D investment.

• Journal of Distribution Research
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• v.17 no.1
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• pp.1-36
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• 2012

Service failure is one of the major reasons for customer defection. As the business environment gets tougher and more competitive, a single service failure might bring about fatal consequences to a service provider or a firm. Sometimes a failure won't end up with an unsatisfied customer's simple complaining but with a wide-spread animosity against the service provider or the firm, leading to a threat to the firm's survival itself in the society. Therefore, we are in need of comprehensive understandings of complainants' attitudes and behaviors toward service failures and firm's recovery efforts. Even though a failure itself couldn't be fixed completely, marketers should repair the mind and heart of unsatisfied customers, which can be regarded as an successful recovery strategy in the end. As the outcome of recovery efforts exerted by service providers or firms, recovery of the relationship between customer and service provider need to put on the top in the recovery goal list. With these motivations, the study investigates how service failure and recovery makes the changes in dynamics of fundamental elements of customer-firm relationship, such as customer affection, customer trust and loyalty intention by comparing two time points, before the service failure and after the recovery, focusing on the effects of recovery satisfaction and the failure severity. We adopted La & Choi (2012)'s framework for development of the research model that was based on the previous research stream like Yim et al. (2008) and Thomson et al. (2005). The pivotal background theories of the model are mainly from relationship marketing and social relationships of social psychology. For example, Love, Emotional attachment, Intimacy, and Equity theories regarding human relationships were reviewed. As the results, when recovery satisfaction is high, customer affection and customer trust that were established before the service failure are carried over to the future after the recovery. However, when recovery satisfaction is low, customer-firm relationship that had already established in the past are not carried over but broken up. Regardless of the degree of recovery satisfaction, once a failure occurs loyalty intention is not carried over to the future and the impact of customer trust on loyalty intention becomes stronger. Such changes imply that customers become more prudent and more risk-aversive than the time prior to service failure. The impact of severity of failure on customer affection and customer trust matters only when recovery satisfaction is low. When recovery satisfaction is high, customer affection and customer trust become severity-proof. Interestingly, regardless of the degree of recovery satisfaction, failure severity has a significant negative influence on loyalty intention. Loyalty intention is the most fragile target when a service failure occurs no matter how severe the failure criticality is. Consequently, the ultimate goal of service recovery should be the restoration of customer-firm relationship and recovery of customer trust should be the primary objective to accomplish for a successful recovery performance. Especially when failure severity is high, service recovery should be perceived highly satisfied by the complainants because failure severity matters more when recovery satisfaction is low. Marketers can implement recovery strategies to enhance emotional appeals as well as fair treatments since the both impacts of affection and trust on loyalty intention are significant. In the case of high severity of failure, recovery efforts should be exerted to overreach customer expectation, designed to directly repair customer trust and elaborately designed in the focus of customer-firm communications during the interactional recovery process to affect customer trust rebuilding indirectly. Because it is a longer and harder way to rebuild customer-firm relationship for high severity cases, low recovery satisfaction cannot guarantee customer retention. To prevent customer defection due to service failure of high severity, unexpected rewards as a recovery will be likely to be useful since those will lead to customer delight or customer gratitude toward the service firm. Based on the results of analyses, theoretical and managerial implications are presented. Limitations and future research ideas are also discussed.

• Environmental and Resource Economics Review
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• v.32 no.3
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• pp.149-166
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• 2023

The emissions trading system, introduced to reduce greenhouse gas emissions, experienced a sharp increase in emission allowance prices during the second plan period (2018-2020), which led to an increase in the demand for smooth supply and demand of emission allowances, while suppliers anticipating a shortage of emission allowances in the future did not participate in trading. Therefore, the authority temporarily revised the guidelines to ensure that the amount of allowances carried forward is proportional to the trading volume as a market stabilization measure. Through an optimization process using a dynamic nonlinear mathematical model, this paper analyzes the impact of the government's intervention on the carryover policy on GHG emission reductions and emission allowance market prices. According to the simulation analysis results, banking regulations could cause a decline in prices during the regulation period, even though the initial policy was predicted to be adopted.

• Asia Marketing Journal
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• v.10 no.1
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• pp.1-23
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• 2008

It is natural that firms would like to increase their profits and value through customer satisfaction (CS). It is therefore important for the academic and practical purposes to investigate the relationship between CS and firm's performance. Previous studies about this relationship have examined mainly the current effect of CS on firm's performance. According to the research that many marketing activities have dynamic effects over time, however, the dynamic effect of CS on firm's performance needs to be tested. Failure to assess the dynamic effects might lead to the underestimation of the impact of CS. This study thus attempts to investigate the dynamic effects of CS on firm's profitability and value by panel data analysis. The results show that CS has dynamic effects on firm's profitability and value. There was a significant improvement in model fit compared with the model examining the current effects only. On the other hand, it was difficult to interpret the estimation results of the alternative model incorporating two lagged variables of CS, and there was also a multicollinearity problem.

• Journal of the Korean Society for Library and Information Science
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• v.31 no.3
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• pp.165-208
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• 1997

The purpose of this study is to evaluate the characteristics of user interface that affect the searching behavior of OPAC users. and then to propose how to design user-friendly interfaces of OPACS. An experiment was conducted on two systems with different interfaces to grasp the effect of user interface to search process and search outcome. A $2\times2$ cross-over design was used for the experiment. Sixty five searchers participated in the experiment. Several statistical techniques such as carry-over effect and system effect of a $2\times2$ cross-over design, $\chi^2$ test, t- test, McNemar test, test of marginal homogeneity through maximum likelihood method, factor analysis, regression analysis, and analysis of variance were applied according to the hypotheses tested and the data analyzed.

• Journal of Korea Water Resources Association
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• v.34 no.3
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• pp.275-285
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• 2001

Since the majority of streamflow during dry periods is provided by groundwater storage, the streamflow depends on a basin moisture state recharged from rainfall during wet periods. This hydrologic characteristics dives good condition to predict long-term streamflow if the basin state like groundwater recharge is known in advance. The objective of this study is to examine groundwater recharge effect to monthly streamflow, and to attempt monthly streamflow prediction using estimated groundwater recharge. The ground water recharge is used as an independent variable with streamflow and precipitation to construct multiple regression models for the prediction. Correlation analysis was performed to assess the effect of groundwater carry-over to streamflow and to establish the associations among independent variables. The predicted streamflow shows that the multiple regression model involved groundwater recharge gives improved results comparing to the model only using streamflow and precipitation as independent variables. In addition, this paper shows that the prediction model with the effect of groundwater carry-over taken into account can be developed using only precipitation.

• The Korean Journal of Financial Studies
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• v.1 no.2
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• pp.257-280
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• 1994

합병의 절세효과는 배당소득의 자본이득화, 소유구조강화의 비용철강, 합병교부주식의 액면가액과시장가치의 차이에 의한 배당소득세의 회피 가능성 등으로 발생한다. 그러나 합병에 청산소득법인세, 사업년도법인세 및 증여세 등의 증세효과도 존재한다. 순절세효과는 당해 회사의 조세상 특성에 따라 달라진다. 합병회사가 피합병회사의 이월결손금과 조세공제.감면혜택을 승계받을 수 없다. 조세적 특성의 승계단절을 우회하기 위하여 신설합병보다는 흡수합병의 형태가, 순합병보다는 역합병의 방식이 선호된다. 합병에서 임의평가증(任意評價增)의 세금효과는 여러 가지 요소에 의하여 결정되는 데. 순절세효과가 양,수일 경우는 흔치 않을 것이다. 합병비율의 조절을 통하여 소유구조변경과 증여효과를 얻을 수 있다. 합병비율조절의 유인은 증여세, 청산법인세 및 배당소득세 등의 증세효과와 원천징수의무에 의하여 감소한다. 특히, 청산법인세와 배당소득세는 실행합병비율이 1:1이 되도록 하는 요인이다. 증여유인과 증세효과로 주주집단간의 이해관계대립이 초래될 수 있다 이해갈등의 예방장치 또는 조정제도의 효율성은 실행합병비율과 공정합병비율의 괴리를 축소하는 요인이 될 것이다.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.71-91
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• 2005

The object or this paper is to analyze the rollover effect on KOSPI 200 index option prices. Especially we analyze the implied volatilities of the options that became the near maturity options as the old one expired. For this analysis, a panel data of KOSPI 200 Index Option Prices from year 1999 to year 2001 were used, and following results were obtained. First, after controlling for the underlying index returns, strike prices and other pricing factors, the call option prices tend to decrease while the put option prices tend to increase during the week of expiry. Second, if one concentrates on the daily price changes, call option prices tend to go up on Thursday (as the old options expire), and then experience a price decrease on the following day, while the reverse is true for the put options. These results imply that the option prices are affected by some of the market micro-structure effects such as whether the option is the near maturity option. We conjecture that the reason for this is related to the undervaluation of KOSPI 200 futures. The results from this paper have implications on the timing of option trades. If one wants to buy put options, and/or sell call options, he has better off by executing his intended trades before the old options expire. On the other hand, if one wants to buy call options, and/or sell put options, hi has better off by executing his intended trades after the expiry.

• Cement
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• s.195
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• pp.13-19
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• 2012

정부가 "온실가스 배출권의 할당 및 거래에 관한 법률" 시행령(안)을 마련하고 지난 7월 23일 입법예고했다. 이번 시행령은 시장기능을 활용하여 효과적으로 국가 온실가스 감축목표를 달성하기 위해 온실가스 배출권을 할당하고 거래하는 제도를 도입하는 것을 내용으로 하는 "온실가스 배출권의 할당 및 거래에 관한 법률"이 지난 5월 14일 제정 공포됨에 따라 배출권거래제 기본계획 및 국가 배출권 할당계획의 수립, 배출권 할당대상업체의 지정, 배출권의 할당 및 거래, 배출량의 보고 검증 인증, 배출권의 제출 이월 차입 및 상쇄 등 법률에서 위임된 사항과 그 시행에 필요한 사항을 정하기 위해서이다. 정부 측은 이번 시행령(안)은 EU 등 해외사례를 참고하여 글로벌 스탠더드와 우리 경제의 현실을 반영하여 배출권거래제를 설계했다고 밝혔다.