• Journal of Information Technology Applications and Management
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• v.22 no.2
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• pp.219-230
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• 2015

Recently, electronic-book (e-book) market is growing rapidly due to the evolution of information technology and e-book standard EPUB. Users can search e-book on-line and download easily to their e-book readers such as amazon's kindle or smartphones. On the other hand, there is lack of e-book contents for the reading disabled people because of high cost of making e-book accessibility for the reading disabled people. If we can translate EPUB specified e-book contents to the alternative e-book contents suitable for the reading disabled people, then there are many advantages to acquire various types and large volumes of e-book contents for the reading disabled people. This paper suggests a new electronic publishing ecosystem for the reading disabled people using e-book translation method. It also suggests a promotion strategy of e-book market for the reading disabled people.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.11 no.12
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• pp.4766-4773
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• 2010

Electronic book(E-book) is a digitalized content which provides online service and digitalized text-based information that has been distributed in the form of Paper-book. E-book has been attracting people's attention in earnest since the Steven King's novel, 'Riding the Bullet' was published as a form of E-book in 2000. Since then, customers have paid attention to E-book, and the scale of E-book market has been growing sharply in Europe, China, Japan and Korea as well as the US. The purpose of this study is for actual analysis how Paper-book and E-book market compete with each other and expand into the world publication market. The relationship between Paper-book and E-book is modeled by the Lotka-Volterra Model designed for competitive relationships and estimate spreading curves. Also, competition patterns between Paper-book and E-book are analyzed by estimating coefficient of curve expression. This study shows the change of customers' demand which has been created since E-book was introduced to the publication market.

• Journal of Distribution Science
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• v.13 no.9
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• pp.37-45
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• 2015

Purpose - This paper's aim is to investigate whether or not gross profitability explains the cross-sectional variation of the stock returns in the Korean stock market. Gross profitability is an alternative profitability measure proposed by Novy-Marx in 2013 to predict cross-sectional variation of stock returns in the US. He shows that the gross profitability adds explanatory power to the Fama-French 3 factor model. Interestingly, gross profitability is negatively correlated with the book-to-market ratio. By confirming the gross profitability premium in the Korean stock market, we may provide some implications regarding the well-known value premium. In addition, our empirical results may provide opportunities for the fund distribution industry to promote brand new styles of funds. Research design, data, and methodology - For our empirical analysis, we collect monthly market prices of all the companies listed on the Korea Composite Stock Price Index (KOSPI) of the Korea Exchanges (KRX). Our sample period covers July1994 to December2014. The data from the company financial statementsare provided by the financial information company WISEfn. First, using Fama-Macbeth cross-sectional regression, we investigate the relation between gross profitability and stock return performance. For robustness in analyzing the performance of the gross profitability strategy, we consider value weighted portfolio returns as well as equally weighted portfolio returns. Next, using Fama-French 3 factor models, we examine whether or not the gross profitability strategy generates excess returns when firmsize and the book-to-market ratio are controlled. Finally, we analyze the effect of firm size and the book-to-market ratio on the gross profitability strategy. Results - First, through the Fama-MacBeth cross-sectional regression, we show that gross profitability has almost the same explanatory power as the book-to-market ratio in explaining the cross-sectional variation of the Korean stock market. Second, we find evidence that gross profitability is a statistically significant variable for explaining cross-sectional stock returns when the size and the value effect are controlled. Third, we show that gross profitability, which is positively correlated with stock returns and firm size, is negatively correlated with the book-to-market ratio. From the perspective of portfolio management, our results imply that since the gross profitability strategy is a distinctive growth strategy, value strategies can be improved by hedging with the gross profitability strategy. Conclusions - Our empirical results confirm the existence of a gross profitability premium in the Korean stock market. From the perspective of the fund distribution industry, the gross profitability portfolio is worthy of attention. Since the value strategy portfolio returns are negatively correlated with the gross profitability strategy portfolio returns, by mixing both portfolios, investors could be better off without additional risk. However, the profitable firms are dissimilar from the value firms (high book-to-market ratio firms); therefore, an alternative factor model including gross profitability may help us understand the economic implications of the well-known anomalies such as value premium, momentum, and low volatility. We reserve these topics for future research.

• Knowledge Management Research
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• v.18 no.4
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• pp.97-118
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• 2017

Thanks to the development of social media, general users become information and knowledge providers. But customers also feel difficulty to decide their purchases due to numerous information. Although recommender systems are trying to solve these information/knowledge overload problem, it may be asked whether they can honestly reflect customers' preferences. Especially, customers in book market consider contents of a book, recency, and price when they make a purchase. Therefore, in this study, we propose a methodology which can reflect these characteristics based on topic modeling and provide proper recommendations to customers in book market. Through experiments, our methodology shows higher performance than traditional collaborative filtering systems. Therefore, we expect that our book recommender system contributes the development of recommender systems studies and positively affect the customer satisfaction and management.

• Journal of Global Scholars of Marketing Science
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• v.15 no.2
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• pp.227-244
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• 2005

This case examined the strategy of taking back a market leader in Korea Internet shopping mall through free book delivery service of Interpark. Although lnterpark was an oldest Internet shopping mall in Korea, its market position has been weaken and weaken due to strong challengers based on TV Home shopping companies. In order to overcome the difficult situation, Interpark chose the book division as a bowling alley. The company offered boldly a free delivery service of book for customers. The free delivery service was considered as a risky bating because it cost a lot. However, it led more customer traffic to Interpark and cross-selling of other categories. At last Interpark took back a market leader based on free book delivery service. The case showed it was very important for e-business company to analyze market and competitors and to implement bold strategies at high speed.

• Journal of Digital Convergence
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• v.14 no.4
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• pp.163-171
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• 2016

This study derived the policy implications and market strategies by analysis the e-book companies requirements & the CPND value chain structure, in order to revitalize the e-book market in Korea. Specifically, we examined the prospect of e-book market in Korea, current situations of production and distribution, awareness of service utilization and requirements for support policy with targets of 30 companies. As a research, the most needed item for e-book companies is 'PR and marketing support to enter and open the markets'(27%), which is the highest. 'Financial support such as labor costs and business expenses', 'support for retraining personnel to develop the expertise in respective fields' are followed and they account for 22%. Currently, the most effective support item is the external support program(35%) and funding power(30%) is followed. Unlike a paper book market, e-book is turned into a platform business in terms of the value chain. Based on these research content, e-book market activation and corporate competitive strategy was derived as follows : 1)literacy reinforcement about SNS marketing and e-pub3 authoring tool. 2)statistical DB construction of retail sales channels. 3)diversification of the billing system. 4)The quality of the e-book content certification.

• Management Science and Financial Engineering
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• v.19 no.1
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• pp.37-41
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• 2013

This study presents an application of stochastic model for limit order book (LOB) dynamics to Korean Stock Index Futures (KOSPI 200 Futures). Since KOSPI 200 futures market is widely known as one of the most liquid markets in the world, direct application of an existing model is hardly possible. Therefore, we modified an existing model to successfully model and predict the dynamics of extremely liquid KOSPI 200 futures market.

• Smart Media Journal
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• v.4 no.4
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• pp.93-100
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• 2015

Markets of e-book and app book in Korea see novel as genre literature and webtoon account for 80 percents in sales so that market share is too based towards some specific fields. In readiblily and easy-to-buy convenience, different from paper books mostly sold off-line, app books are more advantageous but it works as a weak point to take long to publicly spread them before they are generally accepted. Meanwhile, the sales of the e-book market in Korea has been steeply risen. Further, the market is not only restricted to genre literature but also has come into the stage that various experimental challenges are issued in the field of publication contents. This study is aimed at developing the sightseeing app book as a future web-mobile platform with planning and develping the first app book dealing with localized contents based on Busan tour contents, making up for its defect that it offers only current simple information and then suggesting a strategy that the travelers' app book should be available for constant utilization connected to purchase by charged download.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.25-31
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• 2020

The purpose of this paper is to examine a financial distress premium in the emerging market. A risk-return trade-off of negative book equity (NBE) and distress firms is empirically analyzed using data from the Stock Exchange of Thailand. This research employs Ohlson's (1980) bankruptcy model as a measurement of distress risk. The results indicate that distress firms outperform solvent firms in the Thai market and deny distress anomaly often found in the developed market. Fama-Frech (1993) three-factor model and Carhart (1997) four-factor model verify the existence of a distress premium in the Thai capital market. Risk-seeking investors demand greater compensation for bearing risks of distress firms' going concern. This paper provides fresh evidence that default risk is a significant explanatory factor in pricing stocks in the emerging market. Also, this study sheds light on the role of NBE firms in asset pricing. Most studies eliminate NBE firms from their sample. However, NBE firms yield superior average cross-sectional returns, albeit with higher volatility. Investors are rewarded with distress risks associated with NBE firms. The outperformance of NBE firms is statistically significant when compared to the overall market. The NBE premium disappears when factoring size, value, and momentum in time-series analysis.

• The Journal of Korean Institute for Practical Engineering Education
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• v.4 no.2
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• pp.75-83
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• 2012

Due to the proliferation of smart devices, worldwide market growth of e-book content steep, but the domestic market shows relatively low growth rate and small size. In this study, a distribution modeling of the e-book business as a way to solve the problem of the domestic market of disabled was carried out to analyze the Amazon.com and Apple's e-book content distribution structure of the active leader in the U.S. market. And we tried to suggest a solution by investigation and analysis of the college students's receptive attitude on the e-book content as the main target to enable the markets based on the interest for publication. In adoption attitude survey, mainly low-readability and lack of content problem were reasons not to accommodate. There is a need to improve the quantity and quality of content through with technological advances and market participation together. For more participation, we expect to take advantage of the results of this study to establish or improve the systematic distribution structure.