• 제목/요약/키워드: Down markets

검색결과 68건 처리시간 0.025초

쇠퇴시장과 상승시장에서의 경영자지분율과 기업성과 사이의 관계 (The Relationship Between Insider Ownership and Firm Performance in Up and Down Markets)

  • 남현정;유승훈
    • 경영과정보연구
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    • 제31권1호
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    • pp.45-63
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    • 2012
  • 본 연구의 목적은 침체시장과 상승시장에서 경영자 지분율과 기업성과 사이의 관련성을 알아보는 것이다. 경영자 지분율과 기업성과와의 정의 관련성, 부의 관련성, 역U자 관련성 혹은 무관련성이 존재한다는 이전연구 결과들과 차별성을 가지고자 환경변수를 추가하여 침체시장과 상승시장에서 경영자 지분율과 성과 사이의 관계를 연구하였다. 이를 위해 사업보고서에 공시된 경영자 지분율을 독립변수로 사용하였으며 경영자 지분율이 높은 기업의 성과가 더 나은가를 알기위해 경영자 지분율이 25%이상인 기업을 분류하였다. 또한 종속변수인 성과변수를 회계성과인 ROA와 시장성과인 Tobin Q로 분류하여 측정하였으며, 통제변수로 기업규모와 레버리지를 사용하였다. 실증분석 결과 기존의 연구에서 나타났듯이 경영자 지분율은 회계성과와 시장성과에 정의 영향을 미치고 있음을 확인할 수 있었고, 본 연구에서 주목한 쇠퇴시장의 경우 높은 경영자 지분율이 기업성과를 높인다는 일반적 분석결과가 쇠퇴시장에서는 불완전할 수 있다는 결과를 제시할 수 있었다. 반면 상승시장에서는 경영자 지분율과 성과 사이의 정의 관련성이 강해지는 것을 확인할 수 있었다. 경영자 지분율이 기업성과에 다양한 영향(정의 관련, 부의 관련, 역U자 관련, 무관련)을 미칠 것이라는 이전 연구들의 분석결과가 쇠퇴시장에서는 다른 결과를 초래할 수 있다는 투자전략을 제시할 수 있다.

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거주상인의 내부적 관점에서 본 재래시장 공간의 장소적 의미 -청량리시장과 황학동시장을 사례로- (Meanings of the Conventional Market Place Derived from the Merchant's Point of View -Based upon the Cases of Chungryangri and Hwanghakdong Market Place-)

  • 진양교;허미선;홍윤순
    • 한국조경학회지
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    • 제28권1호
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    • pp.118-128
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    • 2000
  • Based upon the cases of two conventional market places of Seoul (Chungryangri and Hwanghakdong Market0, this study seeks, in mainly the insiders's view, to find out the micro meaning of conventional market places in the city. In-depth interviews for longer than six months were used to get life histories and daily life records from the merchants. From the result of the in-depth interviews, it was found that, for the insider's view, conventional markets are places where lower class people (or people who leave their farm lands for a city) easily settle down, as shoed in the two families' settlement history in the two conventional markets are very much similar to those in their home places. In conclusion, as represented in these two markets, conventional market places are not only the places that provides jobs to their merchants but also the places where the merchants' lives are continued, developed and reproduced. Based upon the both outsider's and insider's views, it is suggested that the recent modernization and redevelopment process to deal with conventional markets should change its direction and search for other solutions.

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Studies on Strategic Alliance in Global Shipping Market

  • Kim, Jin-Hwan
    • 유통과학연구
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    • 제15권12호
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    • pp.31-39
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    • 2017
  • Purpose - The purpose of the paper is to examine shipping markets exposed on severe competition after Lehman Brothers crisis in 2008, and look for some alternatives to get it over. Research design, data, and methodology - The research method to be applied is first to look into world economic situations, and then to investigate supply and demand of shipping markets, and strategic alliances as alternatives, which lead to some implication and lessons. Results - After the fierce world economic situations after Lehman Brothers crisis in U.S, it has shown that world economic output and growth is not like that of previous years. It is periods of new normal. Then, shipping has been influenced by less trade volumes and, however, shipping capacity has reached to overcapacity in supply terms. Therefore rates down is clear, and it should be needed new way of getting it over market situations. In this sense, strategic alliance is answer for overcoming difficult markets. Conclusions - From the careful look at all situations, such as world economic situation, supply and demand of shipping market, deep understanding for strategic alliances of shipping, it has reached to conclusion that strategic alliance is only answer for difficult shipping markets.

재래시장의 시장 지향적 분류에 따른 발전방향 (Market oriented Typology and Development Directions of Conventional Markets)

  • 김주영;박정은
    • 한국유통학회지:유통연구
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    • 제16권5호
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    • pp.63-84
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    • 2011
  • 현재 우리나라에는 약 1500여개의 재래시장이 있다. 이들 재래시장은 삼성과 롯데와 같은 대기업에 의해 운영되는 SSM과 할인점 등의 시장 진입으로 인해 경쟁이 치열해지고 있고 급변하는 유통환경의 변화에 따라 생존의 위협을 받고 있다. 또한 재래시장의 파워가 약해짐으로 인해 지역 상인들의 생존이 위협을 받고 있고, 지역 경제 또한 악화되고 있다. 따라서 백화점과 할인점을 선호하는 소비자들에게 보다 나은 가치를 제공해 주기 위해 재래 시장은 보다 시장지향적인 전략을 취해 나가야 할 것이다. 시장지향적 전략은 다음 세 가지 하부 개념으로 이루어진다. (Narver와 Slater,1990): 고객 지향성 (customer orientation), 경쟁지향성 (competitor orientation), 그리고 기능간 조정(inter-functional coordinations). 본연구의 첫 번째 목적은 지역 사회에서의 재래시장의 적절한 역할을 제안하는 것이다. 둘째는 재래시장이 지역에서 장기적으로 생존하기 위해 필요한 시장 지향적인 기능을 알아보고 자 한다. 마지막으로 본 연구는 다양한 지역사회와 다양한 상황에서 재래시장이 지향해야할 성공적인 재래시장 유형을 개발하기 위해 적절한 정책 방향을 제안하는 것이다. 이들 목적을 성취하기 위해 본 연구는 다음과 같은 구성으로 되어 있다. 우선 재래시장과 지역 경제 발전을 위한 기존의 연구보고서와 정책 보고서를 살펴보고 기존 정책의 장-단점을 제시하였다. 둘째로 재래시장의 시장지향적인 유형과 기준을 제시하였고, 지역 시장과 지역의 경제 상황 특성에 따라 재래시장의 기능과 발전 형태에 대해 제안하였다. 마지막으로 본연구의 공헌점과 미래 정책 개발에 있어서의 시사점 등을 토론 하였다. 특히 정책 개발 방향에 있어 본 연구는 정책의 효율성과 경제적 효과, 인력 개발과 운영 시스템, 그리고 이러한 개발과 정에서의 정부의 역할과 지역 상인의 보호 방안등에 대해서 중점적으로 논의를 하였다.

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A risk analysis of step-down equity-linked securities based on regime-switching copula

  • Nguyen, Manh Duc;Ko, Bangwon;Kwon, Hyuk-Sung
    • Communications for Statistical Applications and Methods
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    • 제27권1호
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    • pp.79-95
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    • 2020
  • The globalization of financial markets has broadened investment opportunities. International investors' investment portfolios consist of financial instruments from various countries; consequently, the risks associated with economic dependence among countries should be carefully considered. Step-down equity-linked securities (ELS) are a structured financial product that have recently become popular among Korean investors. Payoffs are based on two or three stock indices from different regions; therefore, dependence between the indices should be reflected in the risk analysis. In this study, we consider a regime-switching copula model to describe the joint behavior of two stock indices- the Eurostoxx50 and the Hang Seng China Enterprises Index (HSCEI). These indices are commonly used as underlying assets of step-down ELS. Using historical data, we analyze the risk associated with step-down ELS through the probabilities of early redemption. A regime-switching copula model can accommodate complicated dependence. Thus, it should be considered in the risk analysis of step-down ELS.

THE BUSINESS STRATEGY INNOVATIONS OF THE TOP DESIGN FIRMS IN GLOBAL DESIGN & ENGINEERING MARKET

  • Seok-In Choi;Hyoun-Seung Jang;Young-Hwan Lee;Sang-Bum Kim
    • 국제학술발표논문집
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    • The 1th International Conference on Construction Engineering and Project Management
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    • pp.1223-1230
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    • 2005
  • The dynamic nature of the A/E/C industry, rapidly changing global market environments, and lowest cost competitive bidding make it difficult to survive in global design markets. To understand the global design markets, a case study has been undertaken. The top 150 global design firms represented in the ENR (Engineering News Record) from 1995 to 2003 are classified into three groups for the case study. First group is the firms which advanced in rank from 1995. Second group is the firms which maintained its rank from 1994 until 2003. Third group is the firms which went down in rank from 1995 until 2003. However, finding key factors and changing business strategies of successful top design firms are the fundamental goals in this paper. After examinations of case studies, this paper concludes and suggests that professionalization, M&A strategies, patrons of the government, and academic support are needed to be successful in the global design & engineering industry.

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재래시장 현황 분석 및 활성화 방안에 관한 연구 - 대전.충청지역의 개선 지원 사업을 중심으로 - (A Study on the status analysis and revitalization of traditional market - With a focus on the support for improvement projects in Daejeon and Chungcheong -)

  • 안형근;양해술
    • 한국산학기술학회논문지
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    • 제8권6호
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    • pp.1682-1694
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    • 2007
  • 대형할인점, 편의점, 무점포영업 등 신업태의 확대, 소매업태 점포 간 경쟁심화로 전통 재래시장권은 소비자의 다양한 기호, 구매스타일 변화 및 신도시 상권이동에 따른 상권 위축 등 외부적 요인으로 인한 불리한 영업환경의 변화에 따라 쇠퇴일로에 처하고 있다. 이의 대처방안으로 정부는 "재래시장 및 상점가 육성을 위한 특별법" 제정 시행을 통한 재정 지원 및 경영지원을 법제화하였으며, 이에 맞추어 재래시장 점포주들은 상인회, 번영회를 결성하고 재래시장 경쟁력 향상에 매진하고 있으나 재래시장 활성화를 위해서는 미흡한 실정이다. 정부에서 지원하고 있는 사업을 바탕으로 재래시장 점포주들의 경영실태를 비교 분석함으로써 재래시장 점포주들의 경영 상태를 실증 조사분석하며 또한 정부지원 제도의 개선점과 추진 방향 수정으로 보다 좋은 정책 방향 모델을 제시하기 위하여 연구하고자한다.

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Introduction to the Technology, Applications, Products, Markets, R&D, and Perspectives of Nanofoods in the Food Industry

  • Kim, Dong-Myong;Lee, Gee-Dong
    • Preventive Nutrition and Food Science
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    • 제11권4호
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    • pp.348-357
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    • 2006
  • Nano is a unit that designates a billionth; accordingly nanotechnology could be described as the study and applications of the unique characteristics and phenomena of nanometer size materials. Applications of nanotechnology fall into two categories (one is top-down and the other is bottom-up). Currently, most products are the results of the top-down approach. Nanofoods have distinct functional characteristics stemming from the size, mass, chemical combinations, electrolytic features, magnetic properties of food sources at the nano level and which can be applied for safe absorption and delivery into the body. The greatest advantage of nanofood is that it permits the efficient use of small quantities of nutritional elements by increasing digestive absorption ability and by delivering natural elements without any change in their original characteristics. On the other hand, there are still unsolved problems, such as questions about safety and introduction of harmful material. The demand for new commercial food products is increasing, and commercial food producers are gradually combining nanotechnology and traditional food preparation methods. Nanofoods will improve our eating habits remarkably in the future. Tomorrow we will design nanofoods by shaping molecules and atoms. It will have a big impact on the food and food-processing industries. The future belongs to new products and new processes with the goals of customizing and personalizing consumer products. Nanotechnology is expected to be applied to not only foods themselves, but also to food packaging, production, safety, processing and storage. Also, it is believed that nanotechnology will be applied tracking finished products back to production facilities and even to specific processing equipment in those facilities. The aim of this study is the introduction of technology, applications, products, markets, R&D, and perspectives of nanofoods in the food industry.

20세기 초 개성 남대가와 한양 종로 주변 시전의 비교를 통한 상호 관계 연구 (A comparative study on the commercial buildings of market zones between Namdaega Avenues(南大街) in Gaeseong(開城) and Jongno Avenues in Hanyang(漢陽) walled cities in the early 20th century)

  • 정수인;한동수
    • 건축역사연구
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    • 제31권2호
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    • pp.19-26
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    • 2022
  • This study tries to find out the commonalities and differences during the 20th century between the characteristics of Hanyang Sijeon revealed in previous studies by identifying the location of the Sijeon (market zones) installed in Namdaega, Gaeseong, the relationship between lots and streets, and the characteristics of the building arrangements. As a result, the integrated structure of the front and the doga, the market structures of Gaeseong, which have been passed down since the Goryeo Dynasty, influenced and developed those of Hanyang. In particular, additional furnaces were installed in the front, which led to the birth of Pimat-gil alleys. In determining the size of urban space, the scale of Gaeseong City was also applied to Hanyang, which became the basis for determining lots and roads around the market zones.

Transformable eco-friendly one-touch DIY children's furniture for childr en's growth and development

  • JEON, Jin-Soo;KIM, Hyun-Joo;Han, Sul-A
    • 디자인학연구
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    • 제25권5호
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    • pp.113-119
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    • 2012
  • Under the paradigm of 'Eco', the core of sustainability management, this study aims to establish both domestic and international markets and secure competitiveness in the global markets through the development of children's furniture composed of recycled and unharmful materials. Currently, in Europe and in the Western regions, the concepts of 'eco-friendly', 'children', and 'DIY' are well-placed in the daily lives of the people. On the other hand, compared to the domestic demand for eco-friendly children's furniture, the essential approach and the qualitative improvements about the subject are being slowly progressed. Particularly, the process of applying eco-friendly materials and finishing materials to the children's furnitures are mostly in a non-existent state. Thus, in this study, simple application of basic eco-friendly materials such as natural woods or imitation of overseas furniture designs were avoided to create transformable eco-friendly one-touch DIY children's furniture for children's growth and development through the application of eco-friendly processes of technology, design, and other stages of the development process. In other words, under the big category of eco-friendly children's furniture, the furniture was developed through an environmentally-friendly process of universal design that is suitable for children of all ages, and thus, ultimately maximizing the economical effective value and reducing consumption of resources and environmental pollutions.