• Asia Marketing Journal
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• v.22 no.3
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• pp.51-69
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• 2020

This study empirically examines the link between marketing knowledge management and innovation performance focusing on the moderating role of business environmental volatility. We define marketing knowledge management as the integration of knowledge generation, knowledge dissemination and knowledge storage. Using a unique data set that consists of 439 employees at 156 firms in China, we find that knowledge dissemination and knowledge storage have a positive effect on innovation performance. Also found is the negative moderating effect of business environmental volatility on innovation performance. Our findings suggest that firms should strengthen their marketing knowledge management to improve innovation performance and stay flexible to cope with the ever-changing and often volatile market environments.

• Environmental and Resource Economics Review
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• v.22 no.4
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• pp.671-689
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• 2013

Transmission mechanisms of volatility between two crude oil markets (WTI and Brent markets) have drawn the attention of numerous academics and practitioners because they both play crucial roles in portfolio and risk management in crude oil markets. In this context, we examined the volatility linkages between two representative crude oil markets using a VECM and an asymmetric bivariate GARCH model. First, looking at the return transmission through the VECM test, we found a long-run equilibrium and bidirectional relationship between two crude oil markets. However, the estimation results of the GARCH-BEKK model suggest that there is unidirectional volatility spillover from the WTI market to the Brent market, implying that the WTI market tends to exert influence over the Brent market and not vice versa. Regarding asymmetric volatility transmission, we also found that bad news volatility in the WTI market increases the volatility of the Brent market. Thus, WTI information is transmitted into the Brent market, indicating that the prices of the WTI market seem to lead the prices of the Brent market.

• The Journal of Fisheries Business Administration
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• v.49 no.2
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• pp.21-35
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• 2018

Squid is a popular seafood in Korea. However, since the 2000s, the squid production has been declining. The unstable supply of the squid products may cause price fluctuations of fresh and chilled squid. These price fluctuations may be relatively more severe than them of other commodities, because the fresh and chilled squid can not be stored for a long period of time. Thus, this study analyzes the structural characteristics of price volatility and price asymmetry of fresh squid based on off-diagonal GARCH model. Data used to analysis of this study are daily wholesale and retail prices of fresh squid from January 1, 2006 to December 31, 2016 provided in the KAMIS. As theoretical approaches of this study, first of all, the stability of the time series is confirmed by the unit root test. Secondly, the causality between distribution channels is checked by the Granger causality test. Thirdly, the VAR model and the off-diagonal GARCH model are adopted to estimate asymmetry effect and price volatility spillover between distribution channels. Finally, the stability of the model is confirmed by multivariate Q-statistic and ARCH-LM test. In conclusion, fresh squid is found to have shock and volatility spillover between wholesale and retail prices as well as its own price. Also, volatility asymmetry effect is shown in own wholesale or retail price of fresh squid. Finally, this study shows that the decrease in the fresh squid retail price of t-1 period than the increase in the t-1 period has a greater impact on the volatility of the fresh squid wholesale price in t period.

• KIEE International Transactions on Power Engineering
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• v.4A no.3
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• pp.159-166
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• 2004

Forecasting prices in electricity markets is critical for consumers and producers in planning their operations and managing their price risk. We utilize the generalized autoregressive conditionally heteroskedastic (GARCH) method to forecast the electricity prices in two regions of New York： New York City and Central New York State. We contrast the one-day forecasts of the GARCH against techniques such as dynamic regression, transfer function models, and exponential smoothing. We also examine the effect on our forecasting of omitting some of the extreme values in the electricity prices. We show that accounting for the extreme values and the heteroskedactic variance in the electricity price time-series can significantly improve the accuracy of the forecasting. Additionally, we document the higher volatility in New York City electricity prices. Differences in volatility between regions are important in the pricing of electricity options and for analyzing market performance.

• Korean Business Review
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• v.14
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• pp.45-62
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• 2001

This study examines the factors that affect longevity of strategic alliances, highlighting environmental volatility, nationality, and previous experience with strategic alliances. In general, successful strategic alliances are more likely to continue to exist than unsuccessful ones. Therefore, it is argued that studying on factors affecting the continuance of strategic alliances indirectly confirms the factors of success and failure in strategic alliances. In order to conduct this study, the needed data were collected from CATI(Cooperative Agreements and Technology Indicators) Data Base, which was gathered by a group of researchers in the University of Limburg in the Netherlands. Cox's Regression was used to analyze the data. Implications for research and practice are discussed.

• Asia pacific journal of information systems
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• v.32 no.4
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• pp.707-727
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• 2022

Industrial revolution 4.0 makes business competition more challenging and will impact the instability of the company's financial performance. Dynamic environmental conditions make it difficult for companies to make predictions in making decisions. Investing in information technology (IT) is one way for companies to maintain financial stability and competitive advantage in dynamic competition. Resource-Based Theory (RBT) explains that information technology (IT) is a resource that can create a competitive advantage for the company. This study aims to examine the moderating role of dynamic industrial environments and IT strategic emphasis on the relationship between a lag effect of IT investment and firm's financial performance volatility. Using the data of companies listed on the Indonesia Stock Exchange (IDX) for five years starting from 2013-2017, the method used to estimate the research model's parameters is the generalized method of moments (GMM) approach. The results show that the industrial environment and the emphasis on IT strategy have a role in moderating and strengthening the relationship between the time lag in IT investment in reducing the firm's financial performance volatility.

• Communications for Statistical Applications and Methods
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• v.15 no.6
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• pp.925-937
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• 2008

In this study, we considered the clustering analysis for stock return traded in the stock market. Most of financial time-series data, for instance, stock price and exchange rate have conditional heterogeneous variability depending on time, and, hence, are not properly applied to the autoregressive moving-average(ARMA) model with assumption of constant variance. Moreover, the variability is font and center for stock investors as well as academic researchers. So, this paper focuses on the generalized autoregressive conditional heteroscedastic(GARCH) model which is known as a solution for capturing the conditional variance(or volatility). We define the metrics for similarity of unconditional volatility and for homogeneity of model structure, and, then, evaluate the performances of the metrics. In real application, we do clustering analysis in terms of volatility and structure with stock return of the 11 Korean companies measured for the latest three years.

• Korean Management Science Review
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• v.33 no.1
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• pp.35-47
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• 2016

Generation of electricity using wind power has received considerable attention worldwide in recent years mainly due to its minimal environmental impact. However, volatility of wind power production causes additional problems to provide reliable electricity to an electrical grid regarding power system operations, power system planning, and wind farm operations. Those problems require appropriate stochastic models for the electricity generation output of wind power. In this study, we review previous literatures for developing the stochastic model for the wind power generation, and propose a systematic procedure for developing a stochastic model. This procedure shows a way to build an ARIMA model of volatile wind power generation using historical data, and we suggest some important considerations. In addition, we apply this procedure into a case study for a wind farm in the Republic of Korea, Shinan wind farm, and shows that our proposed model is helpful for capturing the volatility of wind power generation.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.865-873
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• 2021

COVID-19 pandemic has brought the world into economic recession. This study aims to present an analysis of the readiness of creative e-commerce in Indonesia. Data was collected from various locations that may represent the Creative Industry in Indonesia. The quantitative method has been applied as a research approach by gathering questionnaires from 383 business owners selected using the cluster random sampling method. Based on the results of the analysis and discussion, it is concluded that E-Commerce Readiness is very important in times of uncertainty such as the COVID-19 pandemic. The level of readiness will determine the continuity and sustainability of a company or business in a volatile business environment. E-Commerce Readiness can be evaluated based on Technology Readiness, Organizational Readiness, and Environmental Readiness. Not all perspectives are taken into consideration in making decisions about the implementation or improvement of E-Commerce in the pandemic period. Technology Readiness is seen as the most significant impact on a company's ability to cope with volatility, while Environmental Constraints encourage businesses to adopt E-Commerce and take it to the next level. On the other hand, Organizational Readiness has no effect on the E-Commerce readiness of the company because the company or organization does not consider this aspect.

• Knowledge Management Research
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• v.22 no.1
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• pp.57-84
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• 2021

In this paper, we explore market and environmental factors which affecting organization's priority claim application which is more powerful and prompt strategic method to protect technology from competitors under uncertain and volatile environments. This study empirically examines why organizations strategically choose the priority claim application which is more strong tactics to protect technology as the source of sustainable competitive advantage. We suggest that market and environmental factors, such as exogenous shock, volatility, and uncertainty, may also affect strategic decision that organization take patent application with claiming priority. The results of our analysis of priority claim application in the Korean high-tech electronics industry from 1994 to 2008 showed that these three strategic factors affected the technology protection decision and organization's status also moderate theses effects, as predicted in our hypotheses.