• Korean Journal of Human Ecology
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• v.9 no.4
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• pp.491-503
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• 2000

The purpose of this study is to investigate the purchase behavior, response, and complaining behavior for discounting claims in clothing products. The subjects are composed of 360 female consumers. Data were collected through questionnaire. Descriptive analysis was used for analysis of this study. The findings of this study were as follows: First, female consumer used department store for buying discount apparel products the most. The percentage of buying casual or sports wear for discounting was the most. Most consumers purchased clothing products when discounting at 20-40 percentages. Second, even if, consumers tended to distrust discounting claims, they were satisfied with discount apparel products. Especially, they were satisfied with price, design, color, and size, while they were dissatisfied with sewing and fabric in discount products. Third, most consumer knew the knowledge of consumer rights, but most dissatisfied consumers did not assert positive consumer's right. Therefore, marketer should increase the accessibility of their complaint receiving mechanism for dissatisfied consumers in retail environment.

• Journal of the Korean Society of Clothing and Textiles
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• v.21 no.8
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• pp.1307-1314
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• 1997

This study investigated the factors that influence consumers' distrust and consumers purchase intention for discounting, specifically discounting of clothes. Through literature, discounting rate, retailer type and brand reputation were identified as influencing factors and were tested. A 2$\times$2$\times$3 factorial design was used to test the effect of each factor on consumers' distrust and consumers' purchase intention for jean products. Retailer type was manipulated as high and low, brand reputation as well-known and less-known, and discount rates 10, 30 and 60%. An convenience sample of 165 female undergraduate students participated in the study. The data were analyzed using SPSS/PC+ The results showed that consumers did distrust discounting claims and consumers' distrust of the claims was greater for less-known brand. In addition, no significant effect of retailor type was found. Further effort is needed to generalize the result to different product categories.

• Journal of Intelligence and Information Systems
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• v.20 no.4
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• pp.141-154
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• 2014

The adoption of International Financial Reporting Standards (IFRS) is the one of important issues in the recent accounting research because the change from local GAAP (Generally Accepted Accounting Principles) to IFRS has a substantial effect on accounting information. Over 100 countries including Australia, China, Canada and the European Union member countries adopt IFRS (International Financial Reporting Standards) for financial reporting purposes, and several more including the United States and Japan are considering the adoption of IFRS (International Financial Reporting Standards). In Korea, 61 firms voluntarily adopted Korean International Financial Reporting Standard (K-IFRS) in 2009 and 2010 and all listed firms mandatorily adopted K-IFRS (Korea-International Financial Reporting Standards) in 2011. The adoption of IFRS is expected to increase financial statement comparability, improve corporate transparency, increase the quality of financial reporting, and hence, provide benefits to investors This study investigates whether recognized accounts receivable discounting (AR discounting) under Korean International Financial Reporting Standard (K-IFRS) is more value relevant than disclosed AR discounting under Korean Generally Accepted Accounting Principles (K-GAAP). Because more rigorous standards are applied to the derecognition of AR discounting under K-IFRS(Korea-International Financial Reporting Standards), most AR discounting is recognized as a short term debt instead of being disclosed as a contingent liability unless all risks and rewards are transferred. In this research, I try to figure out industrial responses to the changes in accounting rules for the treatment of accounts receivable toward more strict standards in the recognition of sales which occurs with the adoption of Korea International Financial Reporting Standard. This study examines whether accounting information is more value-relevant, especially information on accounts receivable discounting (hereinafter, AR discounting) is value-relevant under K-IFRS (Korea-International Financial Reporting Standards). First, note that AR discounting involves the transfer of financial assets. Under Korean Generally Accepted Accounting Principles (K-GAAP), when firms discount AR to banks before the AR maturity, firms conventionally remove AR from the balance-sheet and report losses from AR discounting and disclose and explain the transactions in the footnotes. Under K-IFRS (Korea-International Financial Reporting Standards), however, most firms keep AR and add a short-term debt as same as discounted AR. This process increases the firms' leverage ratio and raises the concern to the firms about investors' reactions to worsening capital structures. Investors may experience the change in perceived risk of the firm. In the study sample, the average of AR discounting is 75.3 billion won (maximum 3.6 trillion won and minimum 18 million won), which is, on average 7.0% of assets (maximum 38.6% and minimum 0.002%), 26.2% of firms' accounts receivable (maximum 92.5% and minimum 0.003%) and 13.5% of total liabilities (maximum 69.5% and minimum 0.004%). After the adoption of K-IFRS (Korea-International Financial Reporting Standards), total liabilities increase by 13%p on average (maximum 103%p and minimum 0.004%p) attributable to AR discounting. The leverage ratio (total liabilities/total assets) increases by an average 2.4%p (maximum 16%p and minimum 0.001%p) and debt-to-equity ratio increases by average 14.6%p (maximum 134%p and minimum 0.006%) attributable to the recognition of AR discounting as a short-term debt. The structure of debts and equities of the companies engaging in factoring transactions are likely to be affected in the changes of accounting rule. I suggest that the changes in accounting provisions subsequent to Korea International Financial Reporting Standard adoption caused significant influence on the structure of firm's asset and liabilities. Due to this changes, the treatment of account receivable discounting have become critical. This paper proposes an intelligent diagnostic system for estimating negative impact on stock value with self-organizing maps and case based reasoning. To validate the usefulness of this proposed model, real data was analyzed. In order to get the significance of this proposed model, several models were compared to the research model. I found out that this proposed model provides satisfactory results with compared models.

• Journal of the Chungcheong Mathematical Society
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• v.34 no.2
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• pp.169-180
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• 2021

This paper investigates the time-inconsistent agent's optimal consumption and investment problem under inflation risk. The agents' discount factor is governed by hyperbolic discounting, which has a random time to change. We impose the inflation risk which plays a crucial role in long-term financial planning. We derive the semi-analytic solution to the problem of sophisticated agents when the time horizon is finite.

• Korean Journal of Human Ecology
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• v.15 no.3
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• pp.385-395
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• 2006

This study categorized consumer groups by their life styles and examined the differences in preferences for and satisfaction with retailing stores. The results of this study are summarized as below: First, consumers' satisfaction level was most high in department stores, and discounting stores, internet shopping malls, and home shopping channels took the next in order. Traditional Korean stores, on the other hand, were the last. Overall, preference level was high in discounting stores, department stores, and internet shopping malls in order. Second, the singles and the elderly tended not to be interested in societal issues and concentrate on consumption only. Third, the more interested they get in consumption, the more consumers prefer department stores, and consumers who are neutral in societal issues and consumption were more likely to prefer traditional Korean stores. In addition, those who participate in societal issues and concentrate on consumption preferred discounting stores, convenient stores, and home shopping channels in order. On the other hand, consumers who are more interested in societal issues and less concentrate on consumption were less satisfied with discounting stores and department stores, but more satisfied with internet shopping malls. Consumers less participating in societal issues and concentrating on consumption were more likely to be satisfied with department stores, but less with traditional Korean stores.

• Korean Journal of Cognitive Science
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• v.24 no.4
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• pp.323-338
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• 2013

There are multiple process mechanism in causal reasoning, which is estimation of the causal strength between cause and result. Further, because these mechanisms operate on different time phase during causal reasoning, it is highly possible that different individual difference factors are related to individual mechanisms of causal reasoning. Especially, the phenomena of conditionalization and discounting reflect attention to multiple potential causes when people infer the relationship between cause and effect. In this study, we manipulated self-construal which is an individual difference factor that reflects context sensitivity in cognition. As results, no difference was observed in conditionalization between individuals with an independent self-construal and those with an interdependent self-construal. However, independent self-construal group was observed to be lower in discounting than the interdependent self-construal group. The results indicate that conditionalization and discounting are independent cognitive process in human causal reasoning.

• Journal of the Chungcheong Mathematical Society
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• v.32 no.2
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• pp.215-224
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• 2019

We investigate the optimal consumption and investment decision problem of an agent whose time preference is time-inconsistent. Specifically, for a time-separable utility function, the agent's subjective discount factor is supposed to be changed randomly in the future. We provide closed-form solutions in the presence of income process. The method can be extended into the case with a stochastic income process.

• The Journal of the Korea Contents Association
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• v.10 no.12
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• pp.243-253
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• 2010

The competition for telecommunication-broadcasting bundle is under full steam. Even large mobile OS companies like Apple and Google are showing signs of moving into the telecom and broadcasting industry, and it is expected that competition for bundle will become even fiercer. In the light of this situation, this study will show which factors can heighten purchasing intention for bundle and lower expected-discounting rates, seeking its answer in the quality, satisfaction, and brand loyalty to core product. The results of the study show that the brand loyalty to core product affects the customer's purchasing intention positively while lowering expected-discounting rates. This conclusion suggests the importance of a marketing strategy that heightens satisfaction of existing customers who use a single item, which is just as important as strategies to induce switching behavior of the customers of other companies through competitive pricing. Also, the results suggest that rather than appeal to loyal customers through discounts, it is more effective to offer them different benefits or value.

• The Korean Society of Law and Medicine
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• v.20 no.3
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• pp.175-209
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• 2019

The bundled discounting which the dominant undertakings engage in is problematic in terms of competition restraint. Bundled discounts generally benefit not only buyers but also sellers. Specifically, bundled discounts usually costs a firm less to sell multiple products. In addition, Bundled discounts always provide some immediate consumer benefit in the form of lower prices. Therefore, competition authorities and courts should not be too quick to condemn bundled discounts and apply the neutral and objective standard in bundled discounting cases. Cascade Health v. Peacehealth decision starts ruling from this prerequisite. This decision pointed out that the dominant undertaking can exclude rivals through bundled discounting without pricing its products below its cost when rivals do not sell as great a number of product lines. So bundled discounting may have the anticompetitive impact by excluding less diversified but more efficient producers. This decision did not adopt Lepage case's standard which does not require the court to consider whether the competitor was at least as efficient of a producer as the bundled discounter. Instead of that, based on cost based approach, this decision said that the exclusionary element can not be satisfied unless the discounts result in prices that are below an appropriate measures of the defendant's costs. By adopting a discount attribution standard, this decision said that the full amount of the discounts should be allocated to the competitive products. As the seller can easily ascertain its own prices and costs of production and calculate whether its discounting practices exclude competitors, not the competitor's costs but the dominant undertaking's costs should be considered in applying discount attribution standard. This case deals with bundled discounting practice of multiple healthcare services by the dominant undertaking in healthcare market. Under the Korean healthcare system and public health insurance system, the price competition primarily exists in non-medical care benefits because public healthcare insurance in Korea is in combination with the compulsory medical care institution system. The cases that Monopoly Regulation and Fair Trade Law deals with, such as cartel and the abuse of monopoly power, also mainly exist in non-medical care benefits. The dominant undertaking's exclusionary bundled discounting in Korean healthcare markets may be practiced in the contracts between the dominant undertaking and private insurance companies with regards to non-medical care benefits.

• Journal of Korean Society of Transportation
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• v.22 no.2 s.73
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• pp.27-39
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• 2004

The purpose of this paper presents realistic policy alternative about recent tendency to decrease of subway-users and diminution of use efficiency which are serious problems of Busan Subway. Several policy alternatives have been studied until now, such as subway transfer impedance solution plan, introduction of subway to transfer fare discounting policy, and etc.. But, those policy alternatives are difficult to carried out, because they are less effective and overburden to financial aspect. Therefore, I made use of research on subway utilization to presuppose service improvement, as an alternative, in the transfer fare discounting system between bus and subway which might be powerful influence over subway-users. To verify this proposed study, I took advantage of Stated Preference(SP) where I estimated fare revenue and effects on fluctuation of subway-users with nested logit model based on research results. Suitable alternatives are as follows: First, If municipal government carries out transfer fare discounting policy without shortening in-vehicle time and out-of-vehicle time transfer fare, it is reasonable to discount transfer fare 50% off on the assumption of financial support as much as \6.700 million annually. Secondly, in case of application of multi-factors at a time, transfer fare discounting and in & out vehicle time, it is preferred to have no charge for transfer option with financial support as much as expected income-loss \5,600 million.