• Title/Summary/Keyword: Market Concentration

Search Result 435, Processing Time 0.024 seconds

A Study on the Market Concentration Analysis of Korean Ocean-going Shipping Companies (국적외항선사의 시장집중도 분석)

  • Ha, Min-Ho
    • Journal of Navigation and Port Research
    • /
    • v.46 no.4
    • /
    • pp.351-358
    • /
    • 2022
  • This study analyzed changes in the market concentration of Korean ocean-going shipping companies using shipping revenue based CR (Concentration Ratio), and HHI (Herfindahl - Hirschman Index) to examine the effects of the government's selection and concentration based the shipping reconstruction scheme. The results of this study showed that the market structure of the Korean shipping industry has changed from a competitive market to a rather concentrated market, as CR as well as HHI values have increased from 2019 to 2021. In particular, the market share of the deep-sea shipping lines has risen significantly compared to the intra-Asian short-sea shipping lines and the tramp carriers, implying that the Korean liner shipping market has become a monopoly, or highly concentrated oligopoly market. Compared to other shipping markets, the high rise in ocean freight rates (i.e. Asia-Europe America) was the leading cause of the increase in the revenues of the ocean-going shipping lines, and the increased fleet through preemptive government support has enabled them to achieve more revenues. As a result, it can be interpreted that the government's fleet expansion strategy has been more effective than expected, but it is too early to conclude if the market structure of the Korean ocean-going shipping companies has been strengthened.

Demand Concentration in the Korean Digital Online Movie Market (디지털 온라인 영화시장의 수요 집중화 경향)

  • Choi, Sung-Hee
    • The Journal of the Korea Contents Association
    • /
    • v.21 no.8
    • /
    • pp.69-78
    • /
    • 2021
  • With technological development including digitization, movie demand and supply in digital online movie market are increasing. This study aims to explore demand concentration of the digital online movie market, which is characterized by product variety compared to cinemas. Major findings of the empirical analysis on the TV VOD data during the recent seven years(2013 ~ 2019) are as follows. First, the analysis on 1,137 titles reveals that movie demand of theatrical market is more concentrated than that of TV VOD. Second, absolute long tail index of TV VOD, measured by the download number of indie & artistic movies(niche product), is increasing as more such movies are released in the market. However, both relative long tail index, measured by the share of indie & artistic movie demand, and top-ranked movies' share do not show consistent increase or decrease trend. Third, regression analysis exhibits that the relationship between demand concentration and market size is insignificant for TV VOD market. This study might have usefulness in that it provides empirical evidence for the nature of the Korean digital online movie market.

Stock Excess Return, R&D intensity and Market Concentration: A Study of IT Firms in India

  • Sahu, Santosh K.;Narayanan, K.
    • Asian Journal of Innovation and Policy
    • /
    • v.4 no.2
    • /
    • pp.200-216
    • /
    • 2015
  • This paper empirically investigates the role of R&D intensity on market concentration of firms using four key market valuation variables, namely (1) market share, (2) labor intensity, (3) firm age and, (4) firm's market value. The empirical tests use database at firm level for the Indian IT sector from 1999 to 2013 from the CMIE Prowess database. The results of the regression analyses partially support our hypothesis that R&D intensity positively influences firm's market value measure by the H-index. The test results are consistent with the hypotheses that R&D spending is more valuable for firms with larger market shares, higher labor intensity, and firms that are diversified.

Antecedents and Effects of R&D Concentration : An Analysis from the Perspective of the Structure-Conduct-Performance paradigm (연구개발(R&D)집중도의 결정요인 및 영향에 관한 연구 : S-C-P 패러다임 관점에서의 접근)

  • Cho, Young-Gon;Shin, Hyuk-Seung;Sul, Won-Sik
    • Journal of Korean Society of Industrial and Systems Engineering
    • /
    • v.37 no.3
    • /
    • pp.24-35
    • /
    • 2014
  • This paper examines, from the perspective of the structure-conduct-performance (S-C-P) paradigm, the structural factors that determine R&D concentration in industries. The results are as follows. First, an industry's R&D concentration is directly related to its market concentration, R&D intensity, capital intensity, and technological opportunities. In contrast, the higher an industry's performance, the more likely the diffusion of R&D investment is for firms belonging to that industry. Second, an industry's R&D concentration has a positive effect on its market concentration but a negative effect on its performance, suggesting that governments should adopt R&D policies that would induce more firms to invest in R&D instead of focusing only on a few firms to enhance industry performance.

A Study on Centralization of the Korean Film Market : Focusing on the Supply and Consumption of the Top 100 Movies (한국 영화시장의 집중화 현상에 대한 논의 : 흥행영화의 공급과 소비를 중심으로)

  • Park, Seung-Hyun;Lee, Pu-Reum
    • Journal of Korea Entertainment Industry Association
    • /
    • v.14 no.6
    • /
    • pp.109-124
    • /
    • 2020
  • This study examines the concentration in terms of supply and consumption in the Korean movie market, focusing on screen size, nationality, and the box office. For analysis, it selects the top 100 movies in the box office each year for 15 years from 2005 to 2019. According to the result, the number of screens increased steadily every year, and the screen concentration became very high. For the top 100 movies, it increased from 12% to 30% of the total screen. It became higher in the case of the top 10 movies. As the number of screens increased, multiplex assigned more screens to one movie. Multiplex's screen allocation continued to increase, with one movie taking up more 60% of the total screen. This became more serious after 2011 and 2012. Market share of the top 100 movies accounted for about 95% of the total box office performance, even though the number of released movies is about 3,000. Whether multiplex preferred Hollywood movies or not, its screen assignment was found to favor Hollywood movies over Korean ones. In the case of film nationality, both Korean and Hollywood movies accounted for 90.7%. Two countries had a market share of 96.6%. There was no single side except Korea and the United States in the top 10. The increase in the number of screens deepened the concentration in screen allocation. The concentration in the screen allocation led to the concentration of consumption. The Korean film market is the case where the increase of movie screens did not create a diversity of supply and consumption. It also did not affect the diversity of film nationality. This research reveals that supplied concentration and consumed concentration are positively correlated, and that the former is a little lower than the latter.

A Study on Competitiveness Improvement of Chittagong Container Port

  • Haque Md Jubair;Woo-Chul Ahn
    • Asia-Pacific Journal of Business
    • /
    • v.14 no.1
    • /
    • pp.439-451
    • /
    • 2023
  • Purpose - Market structure is crucial to identify as it defines the market states for new and existing container ports to perform within a given region. the study aims to compare the major ports in the Bay of Bengal in the context of Chittagong Port. Design/methodology/approach - For this study, the past 9 years of container volume data have been collected and analyzed through the HHI index, BCG matrix and shift effect analysis. Based on the analysis, this study has found that the Chittagong Port is in an oligopoly competitive market structure. Findings - The findings have shown that port in low market share and low growth in very recent years with the moderately concentrated ports HHI index. The shift effect analysis shows that the container volumes shifted from one port to another in the 2019 and 2020 periods. This study is the pioneer study in the Bay of Bengal region to identify the market structure, analyze market share and growth, and analyze the market concentration. Research implications or Originality - Future recommendations for the port authority is to take advantage of geolocation; attract international; tax exemption, faster clearance process, reduced waiting charges; increasing storage and technological machinery; promoting maritime logistics education; promoting Chittagong tourism; collaboration with other countries. Also, this study can be used as basic data for the establishment of a new supply chain between Korea and Southwest Asia for the Korean government and companies.

What Happened to Efficiency and Competition after Bank Mergers and Consolidation in Korea? (한국 은행들의 합병, 통합 이후 효율성과 경쟁도는 개선되었는가?)

  • Park, Kang H.
    • KDI Journal of Economic Policy
    • /
    • v.33 no.3
    • /
    • pp.33-55
    • /
    • 2011
  • Market concentration in the Korean banking industry has markedly increased since the financial crisis of 1997-1998 because of M&As, P&As, and consolidation of banks. With this change, there has been a growing concern over market power in the Korean banking sector. We examine the effects of market concentration on bank efficiency and competition for the period of 1992-2006. Three different indicators of bank inefficiency are used in this study, including X-inefficiency that is derived from the directional technology distance function. The level of competition is measured by both the H-statistic of the Panzar-Rosse model and the level of the net interest margin and its standard deviation. Empirical results indicate that market concentration has not improved bank efficiency through scale economies or scope economies. Instead, recent mergers, acquisitions and consolidation of banks resulted in an increase in inefficiency measured by the three different indicators: X-inefficiency, labor inefficiency and asset inefficiency. While an increase in market share of individual banks improved bank efficiency, an increase in the overall market concentration ratio resulted in lower efficiency. Our study also finds that the Korean banking sector has been monopolistically competitive throughout the sample period except for the crisis period according to the H-statistic. Although an increase in market concentration ratio has not changed the overall level of bank competition, it has a positive significant effect on the level of the average interest margin.

  • PDF

Worldwide Railroad Market Survey and Analysis (철도의 해외시장 개황 조사 및 분석)

  • Min, Jae-Hong;Lee, Soon-Cheol
    • Proceedings of the KSR Conference
    • /
    • 2003.10b
    • /
    • pp.360-364
    • /
    • 2003
  • This study discusses the worldwide railroad related market survey and its analysis. World market of railroad is expected to grow by $4\%$ annually in 2006 and 42 billion euros in total. Europe takes $39\%$ of market and Asia/Australia do $30\%$. It is about $50\%$ of market those Alstom, Bombardier, and Simens take. Important current market trends are Globalization, Concentration, Standardization, Innovation and WTO. To encourage making inroads into world market, both railroad related companies and government make great efforts to increase efficiency and reliability

  • PDF

A Study on the Market of Imported Medical Devices in Myanmar

  • Bae, Hong Kyun
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
    • /
    • v.64
    • /
    • pp.213-237
    • /
    • 2014
  • The medical-device market of Myanmar in the recent Asian region is where the influences of Thailand, China, India and Singapore are being shown considerably with the lift-up of economic sanctions by America and the West. However, although the global capital and liberalization have widened the openness and the international concerns, the relative Myanmar's medical environment demands an active assistance and improvement. The study, recognizing the importance of Medical-Devices and their market conditions emerging as key business for knowledge-based industry, aims to obtain consequential meaningful suggestions, pursuant to relative export-concentration and sustainable market growth of Medical Devices, by analyzing inter-nation trade intensity for key Medical Device items. To do so, this study selected 8 nations in total by reviewing three points: core Medicine-advanced countries, geographically adjacent countries to Myanmar, and relative export-concentration.

  • PDF

The Concentration of Economic Power in Korea (경제력집중(經濟力集中) : 기본시각(基本視角)과 정책방향(政策方向))

  • Lee, Kyu-uck
    • KDI Journal of Economic Policy
    • /
    • v.12 no.1
    • /
    • pp.31-68
    • /
    • 1990
  • The concentration of economic power takes the form of one or a few firms controlling a substantial portion of the economic resources and means in a certain economic area. At the same time, to the extent that these firms are owned by a few individuals, resource allocation can be manipulated by them rather than by the impersonal market mechanism. This will impair allocative efficiency, run counter to a decentralized market system and hamper the equitable distribution of wealth. Viewed from the historical evolution of Western capitalism in general, the concentration of economic power is a paradox in that it is a product of the free market system itself. The economic principle of natural discrimination works so that a few big firms preempt scarce resources and market opportunities. Prominent historical examples include trusts in America, Konzern in Germany and Zaibatsu in Japan in the early twentieth century. In other words, the concentration of economic power is the outcome as well as the antithesis of free competition. As long as judgment of the economic system at large depends upon the value systems of individuals, therefore, the issue of how to evaluate the concentration of economic power will inevitably be tinged with ideology. We have witnessed several different approaches to this problem such as communism, fascism and revised capitalism, and the last one seems to be the only surviving alternative. The concentration of economic power in Korea can be summarily represented by the "jaebol," namely, the conglomerate business group, the majority of whose member firms are monopolistic or oligopolistic in their respective markets and are owned by particular individuals. The jaebol has many dimensions in its size, but to sketch its magnitude, the share of the jaebol in the manufacturing sector reached 37.3% in shipment and 17.6% in employment as of 1989. The concentration of economic power can be ascribed to a number of causes. In the early stages of economic development, when the market system is immature, entrepreneurship must fill the gap inherent in the market in addition to performing its customary managerial function. Entrepreneurship of this sort is a scarce resource and becomes even more valuable as the target rate of economic growth gets higher. Entrepreneurship can neither be readily obtained in the market nor exhausted despite repeated use. Because of these peculiarities, economic power is bound to be concentrated in the hands of a few entrepreneurs and their business groups. It goes without saying, however, that the issue of whether the full exercise of money-making entrepreneurship is compatible with social mores is a different matter entirely. The rapidity of the concentration of economic power can also be traced to the diversification of business groups. The transplantation of advanced technology oriented toward mass production tends to saturate the small domestic market quite early and allows a firm to expand into new markets by making use of excess capacity and of monopoly profits. One of the reasons why the jaebol issue has become so acute in Korea lies in the nature of the government-business relationship. The Korean government has set economic development as its foremost national goal and, since then, has intervened profoundly in the private sector. Since most strategic industries promoted by the government required a huge capacity in technology, capital and manpower, big firms were favored over smaller firms, and the benefits of industrial policy naturally accrued to large business groups. The concentration of economic power which occured along the way was, therefore, not necessarily a product of the market system. At the same time, the concentration of ownership in business groups has been left largely intact as they have customarily met capital requirements by means of debt. The real advantage enjoyed by large business groups lies in synergy due to multiplant and multiproduct production. Even these effects, however, cannot always be considered socially optimal, as they offer disadvantages to other independent firms-for example, by foreclosing their markets. Moreover their fictitious or artificial advantages only aggravate the popular perception that most business groups have accumulated their wealth at the expense of the general public and under the behest of the government. Since Korea stands now at the threshold of establishing a full-fledged market economy along with political democracy, the phenomenon called the concentration of economic power must be correctly understood and the roles of business groups must be accordingly redefined. In doing so, we would do better to take a closer look at Japan which has experienced a demise of family-controlled Zaibatsu and a success with business groups(Kigyoshudan) whose ownership is dispersed among many firms and ultimately among the general public. The Japanese case cannot be an ideal model, but at least it gives us a good point of departure in that the issue of ownership is at the heart of the matter. In setting the basic direction of public policy aimed at controlling the concentration of economic power, one must harmonize efficiency and equity. Firm size in itself is not a problem, if it is dictated by efficiency considerations and if the firm behaves competitively in the market. As long as entrepreneurship is required for continuous economic growth and there is a discrepancy in entrepreneurial capacity among individuals, a concentration of economic power is bound to take place to some degree. Hence, the most effective way of reducing the inefficiency of business groups may be to impose competitive pressure on their activities. Concurrently, unless the concentration of ownership in business groups is scaled down, the seed of social discontent will still remain. Nevertheless, the dispersion of ownership requires a number of preconditions and, consequently, we must make consistent, long-term efforts on many fronts. We can suggest a long list of policy measures specifically designed to control the concentration of economic power. Whatever the policy may be, however, its intended effects will not be fully realized unless business groups abide by the moral code expected of socially responsible entrepreneurs. This is especially true, since the root of the problem of the excessive concentration of economic power lies outside the issue of efficiency, in problems concerning distribution, equity, and social justice.

  • PDF