• 한국수자원학회:학술대회논문집
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• 한국수자원학회 2009년도 학술발표회 초록집
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• pp.1764-1768
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• 2009

현재 국내에서 치수경제성분석을 위한 홍수피해산정법으로는 하천설계기준에 제시되어 있는 다차원홍수 피해산정법(MD-FDA: Multi-Dimensional Flood Damage Analysis)이 광범위하게 사용되고 있다. 그러나 2004년 처음으로 지침이 나온 이후 각종 자산조사 원단위에 대한 갱신이 이루어지지 않아 현재 실정에 맞는 자산조사가 불가능하며, 일부 산정방식에서는 문제점도 지적되고 있다. 따라서 본 연구에서는 주거자산, 농업자산, 산업자산으로 나누어진 자산 항목과 인명피해액 산정을 위한 인명손실에 대한 각각의 원단위를 갱신하여 현재 경제상황에 맞는 적용이 이루어질 수 있게 하였다. 또한 과거 문제점이 지적되던 산정방식에 대해서 일부는 기술 방식을 고쳐 이해를 돕고, 일부는 새로운 방법론을 제시하였다. 그럼에도 불구하고 갱신된 원단위가 현재의 사회경제적 상황을 완벽히 반영한다고 판단되지는 않는다. 이는 통계자료의 양적 질적 부족으로 인해 기인된 것이다. 그러나 2004년 다차원홍수피해산정법이 처음 제시된 이후로 원단위의 갱신이 이루어지지 않았던 데 비해 통계자료의 형식적 내용적 변화상을 반영할 수 있게 하였다는 점에 있어서 연구의 의미가 있다. 본 연구의 결과 변경된 자산조사 방식과 각종 원단위는 치수계획 실무에서 홍수피해산정시 많은 참고가 될 것이다.

• 재무관리연구
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• 제13권1호
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• pp.341-357
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• 1996

Some empirical studies have shown that asset prices respond to announcements of economic news, however, others also have found little evidence. This study assesses how market participants of the S&P 500 Index Futures reacted to the U.S. economic news announcements. For this purpose, using a GARCH (Generalized Autoregressive Conditional Heteroscedasticity) model, we use several U.S. news variables, its each surprise component and interest rates. We find that some economic news variables affected significantly on the S&P 500 Index Futures. In other words, we find that weekend variable, lagged volatility, and surprise component of trade deficit increased level of volatility. However, interest rate, M1, unemployment announcements caused the variance of the S&P 500 Index Futures to reduce, and each of the surprise component of M1 and trade deficit increased it. The result suggests that resolution of uncertainty, through economic news announcement, while, in some cases, causes market participants to reduce their forecast of volatility, a large difference between the market's forecast and the realization of the series causes the volatility to increase.

• The Journal of Asian Finance, Economics and Business
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• 제7권4호
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• pp.59-70
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• 2020

The purpose of this study is to construct the ACD model for the block trading volume duration. The ACD model based on the block trading volume duration is referred to as Volume ACD (VACD) in this study. By integrating with GARCH-type models, the VACD based GARCH type models, which include VACD-GARCH, VACD-IGARCH and VACD-FIGARCH models, are set up. This study selects Chunghwa Telecom (CHT) Inc., offering the America Depository Receipt (ADR) in NYSE, to investigate the block trading volume duration in Taiwanese equity market. The empirical results indicate that the long memory in volume duration series increases dependence at level of volatility clustering by VACD (2,1)-FIGARCH (3,d,1) model. Moreover, the VACD (2,1)-IGARCH (1,1) exhibits relatively better performance of prediction on capturing block trading volume duration. This volatility model is more appropriate in this study to portray the change of the CHT Inc. prices and provides more information about the volatility process for investment strategy, which can be a reference indicator of financial asset pricing, hedging strategy and risk management.

• 자원ㆍ환경경제연구
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• 제17권2호
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• pp.235-254
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• 2008

본 연구는 주택시장 모형을 이용하여 그린벨트 축소의 경제적 효과를 분석하였다. 그린벨트는 개발이 제한된 토지의 한 종류로 소비자 후생에 영향을 미치게 된다. 그린벨트는 토지의 개발을 제한함에 따라 주택의 공급에 영향을 미치게 되며, 또 다른 한편으로는 주거환경에 녹지를 공급해 줌으로써 주거환경을 개선하는 효과가 있다. 따라서 그린벨트의 축소는 주택시장의 공급을 증가시켜 임대료의 하락을 일으켜 소비자의 후생을 증가시킬 것으로 예상되는 반면 녹지를 파괴함으로써 주거환경을 악화시켜 소비자의 후생을 감소시킬 것으로 예상된다. 따라서 그린벨트의 축소로 인한 임대료의 하락 효과가 녹지파괴로 인한 주거환경 악화 효과보다 클 경우 소비자의 후생을 증가할 수 있다. 본 연구에서는 임대료 하락의 효과가 보다 직접적으로 나타나 주거환경 악화 효과보다 커서 그린벨트 해제로 인해 소비자의 후생은 증가하였다.

• 지역연구
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• 제6권1호
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• pp.39-55
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• 1990

The principal measure of housing demand is income and the preferences expressed by households through their respective indifference curves. In this context, housing essentially becomes a derived demand, i.e., the household consumes land and a location (or distance-in time and money costs), according to its relative preferences for space, accessibility, and all other nonhousing goods. This paper attempts to deal with both aspects of housing (apartment) demand and household mobility in the Seoul Metropolitan Areas. Housing services will be measured using hedonic regression technique. From observations on the market prices of dwelling units and on the underlying characteristics of housing, one can estimte the relationships between the two empirically. In predicting the probability of the future moves into new towns in the Seoul Metropolitan areas, the best predictors of the future moves into new best predictors are found to be the degree of satisfaction not only with the current residence as a whole, but with some of the major amenities, accessibility and child education. The reasons for moving into new towns are diverse depending on the households' current situation; the most frequently cited is "improvement of housing conditions," followed by "improvement of living environment," "asset improvement" and "home ownership". It appears that people move houses because of a dissatisfaction with their current housing status, relative their income or needs, or a desire to improve their housing and neighborhood amenities, or both. On the other hand, it is clear that the development of new towns in the Seoul Metropolitan Areas should be based on the analysis of housing demand and the pattern of household mobility in Seoul housing market.sehold mobility in Seoul housing market.

• 한국의류학회지
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• 제23권8호
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• pp.1075-1085
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• 1999

Brand equity is the added value endowed by the brand to the product. This concept born in the 1980's has aroused intense interest among market managers and business strategists from a wide variety of industries. Brand equity can be approached in different perspectives according to the motivations and the objectives of the studies. Consumer-based brand equity is examined internally by consumers' cognition and feeling and externally by consume behavior in the market By analyzing the relationship between them we can understand how brand value is made in the mind of consumers and how it is converted into the consumer behavior,. The brand is an especially important extrinsic cue in clothing products and the apparel industry has higher brand equity when it is actually compared with the brand equity of many other industries measured as a financial asset. Therefore the purpose of this study was to find out brand value of clothing products through clothing brand equity and to understand consumer behavior of the brand. And so we focused in consumer-based brand equity. For the empirical study three brands that are predicted to have different level of brand equity were selected based on prices and market shares of the brands. As the result the consumer-based brand equity is composed of emotional and cognitive dimensions and each dimension has several sub-dimensions. These diverse dimensions of brand equity bring about differences in consumers' purchase behavior market share and price premium of brands.

• 경영과학
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• 제31권1호
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• pp.27-40
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• 2014

Tour products have been recognized as a perishable asset. For tour operation companies (TOCs), improving profitability is a core decision problem for their business. Since package tour products, typical products of TOCs, are perishable after the tour was departed, TOCs have been tried to increase their sales before the departure date with various marketing strategies including price discounts. The pricing problem for perishable assets have been studied in Revenue Management for a long time. However, it is hard to find a research on pricing decisions for tour products. In this paper, we focus on a pricing problem for tour products. In particular, we will consider the pricing scheme with customer preference values on purchasing conditions. With conjoint analysis, we can use the part-worth value as a preference value for each level of purchasing conditions. To construct various discount prices, we use an enumeration method and suggest a mathematical optimization model. With experimental analysis for a sample tour package, we will show that our pricing process is very helpful for designing customer-oriented pricing decision.

• 산업경영시스템학회지
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• 제30권4호
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• pp.170-181
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• 2007

The purpose of computing economic depreciation value is to find valuation of assets closely in line with market prices. The valuation of industrial assets are called Engineering Valuation. The two representative techniques for such valuation are Hulten-Wykoff Method, which estimates real value using regression equations, and T-factor Method devised at Iowa State University. The two are all empirical methods for computing service life (duration period). In this paper, we derived the service life by empirical methods using national wealth statistics, and also by more conventional methods such as original group method and retirement method. The results from each method are compared with one another. We also computed economic service life from these results. In S. Korea where amount of asset value statistics is still insufficient, the most effective method for empirically computing economic service life turns out to be the one using national wealth statistics. In addition, we also present economic relationship between depreciation value computed by using Hulten-Wykoff Method and depreciation value computed by using T-factor Method.

• 응용통계연구
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• 제28권2호
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• pp.189-200
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• 2015

본 논문에서는 정상적 부트스트래핑을 금융 자산 가격에서 시장 미시구조 잡음에 대한 라그랑지 승수 검정에 적용한다. 몬테 카를로 실험을 통해 부트스트래핑 방법이 조건부 이분산 모형을 적용한 기존 라그랑지 승수 검정의 유의수준 왜곡 문제를 개선함을 보인다. 이 검정을 KOSPI 지수와 원-달러 환율과 같은 실제 데이터에 적용한다.

• 아태비즈니스연구
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• 제12권3호
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• pp.37-50
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• 2021

Purpose - This study aimed to examine the behavior surrounding the Initial Public Offering (IPO) event of firms within the same conglomerate and the impact of under-pricing and Return on Equity(ROE) on a firm's abnormal stock returns. Design/methodology - This study collected data from 166 South Korean Chaebols, consisting of 355 firms distributed as 202 listed on Korea Composite Stock Price Index (KOSPI) and 153 firms listed on Korean Securities Dealers Automated Quotations (KOSDAQ) from 2000 to 2020. The Capital Asset Pricing Model (CAPM) and the multiple regression analysis were hired to analyze the data. Findings - First, we found an adverse price reaction of IPO listing in the same chaebol group, and firms with higher under-pricing affect other firms' stock prices more adversely within the conglomerate. Next, we explored a negatively significant relation between ROE and the chaebol firms' stock returns during IPO events. Research implications - The novelty of this study is there are not many empirical studies on the impact of IPO within a conglomerate. So, the findings of this study contribute to the literature for analyzing stock's abnormal returns within a conglomerate.