• KDI Journal of Economic Policy
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• v.36 no.2
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• pp.103-136
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• 2014

The covered interest rate parity condition (CIRP) has been widely used in open macroeconomic analysis, risk management, exchange rate forecasts, and so forth. Due to the recent global financial crises, there have been remarkable changes in the financial markets of the emerging markets. These changes possibly influenced the dynamics of the covered interest rate parity condition. In this paper, we investigate whether the CIRP dynamics has changed, and what is the nature of the regime changes. To do this, we propose and estimate multiple-state Markov regime switching models using a Bayesian MCMC method. Our estimation results indicate that the default risk or the deviation from the CIRP has been decreased after the crisis. It seems to be associated with the more active interaction between the short-term bond market and the short-term foreign exchange market than before. The tightened relation of these two financial markets is caused by the arbitrage transaction of foreign investors.

• The Korean Journal of Franchise Management
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• v.1 no.1
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• pp.19-42
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• 2010

Since circulation market whole surface opening, traditional market is real condition that is looked away more gradually to consumer as reasons of international retail firms and domestic enterprise firms to enter distribution industry, internet mail order rapid increase by information-oriented society, the pursuit of upgradation and normalization by elevation of income level and consumption pattern change that consideration convenience with young consumers as the central figure. Therefore, the purpose of this study is to analyze stagnation cause of traditional market and problem within a change of new distribution environment, and to develop new approaches for dealing with domestic traditional market relationship prompting competition through activation example analysis of foreign traditional market and domestic traditional market. The result of the study indicated that there are a lot of cases that are begun by a few's merchant with leadership that has been will which is strong in activation in beginning in market's occasion that succeed in activation. In particular, software side such as operational efficiency or marketing expertise strengthening of management is that effect is high relatively than hardware side market activation. Also essential to the settlement of credit transactions using credit cards is important for expanding the effort, for the expansion of credit card merchant credit card advantage and raise awareness among traders about the expected effects is needed. Though these study finding submits plan that create market ecosystem so that many consumers may become place that could visit naturally and create pleasure and convenience, and time, monetary, psychological value of shopping to traditional market, there is sense.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.43 no.6
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• pp.811-819
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• 2023

Understanding the local conditions is a crucial factor in enhancing the success potential of overseas construction projects. This can be achieved through the analysis of news articles of the target market using topic modeling techniques. In this study, the authors aimed to analyze news articles using two topic modeling methods, namely Latent Dirichlet Allocation (LDA) and BERTopic, in order to determine the optimal approach for market condition analysis. To evaluate the alignment between the generated topics and the actual themes of the news documents, the research collected 6,273 BBC news articles, created ground truth data for individual news article topics, and finally compared this ground truth with the results of the topic modeling. The F1 score for LDA was 0.011, while BERTopic achieved a score of 0.244. These results indicate that BERTopic more accurately reflected the actual topics of news articles, making it more effective for understanding the overseas construction market.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.11
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• pp.7788-7793
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• 2015

Both export and import sides of grain trade market are analyzed and compared in terms of the static levels and dynamic trends to make new empirical inference on the imperfect competition degree. Export concentration level is high compared to import concentration level. And such states have been sustained since 2001 until 2014. Unlike public concerns, the concentration level of export side seems to be easing by small degree. However, the grain trade market remains imperfect competitive market. Furthermore, overall imperfective competition condition over 2002-2014 has been worsened compared to 2001 level. It is because the reduction level of imports concentration is higher than that of the export concentration. Gini and Atkinson Inequality Index based on Lorenz Curve are newly utilized to analyze market concentration level, instead of the commonly used concentration ratio.

• Journal of Information Technology Services
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• v.15 no.4
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• pp.153-174
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• 2016

On account of multiple causes, including prolonged global economic crisis, addressing environmental pollution and the advent of hyper-connected society, a new paradigm called 'sharing economy' has rapidly emerged. Many startups have attempted to build promising business model based on the sharing economy concept. Nevertheless, successful cases are still very rare in the global level, except for Uber and Airbnb cases. Therefore, this study analyzes necessary causes and sufficient causes for successful settlements in the market through a comparative case analysis on digital matching firms in the sharing economy businesses. For the case study, we compare five successful cases (Uber, Airbnb, Kickstarter, TaskRabbit and DogVacay), three failure cases (Homejoy, Ridejoy and Tuterspree) and a platform cooperativism case (Juno) in accordance with six value attributes of business model including value proposition, market segment, value chain, cost structure and profit potential, value network and competitive strategy. We apply Boolean method to support controlled comparison and eliminate unnecessary attributes. The Boolean analysis result shows that value proposition, cost structure and profit potential, value network and competitive strategy are the essential attributes. Furthermore, the result indicates that each attribute is a necessary condition, where all four conditions should be met simultaneously in order to be successful. With this result, we discuss essential consideration for those who are planning startup based on the sharing economy business model.

• Journal of Korea Technology Innovation Society
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• v.9 no.4
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• pp.865-883
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• 2006

This paper explored the development factors influencing the high growth of internet media industry recently in Korea. Both theoretical model and analytic model were formulated and tested by the results of questionnaire analysis. The factors extracted from five fields were as followings: policy, technology, market, firm, and profitability. Factor analysis was used to test the fitness of the given model, and the hypothesized model was found to be useful to explain the development factors of the internet media industry. The results showed that industry's development was explained by 41.3% for firm level, 37.6% for IT technology and policy, and 21.00/0 for market condition and competition.

• Journal of the Architectural Institute of Korea Structure & Construction
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• v.35 no.1
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• pp.47-56
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• 2019

As the zero interest rate era was over with the end of quantitative easing, the economy of several global markets observed the fluctuations of the base interest rate. Interest rate, which is the change of money value with respect to time, is negatively correlated with construction investment. Considering the characteristics of interest rates and construction investment as economic variables, the necessity of cross-border analysis between base interest rate and construction investment was suggested in this paper. Cross-correlation analysis between base interest rates and construction investment crossing the border was performed. The effective correlations were confirmed with values varying by countries. Similar characteristics were also observed among countries with similar economy, which were then divided into three groups. Additionally, identifying the base interest rate that affects the construction investment of a particular country was made possible by reflecting a self-cycle of base interest rates. Lastly, from the result of examining the influence of each rise and fall of the interest rate, it was verified that the difference was more than twice as large in some countries. These results are expected to contribute to construction-related policy makers or investors to make decisions in response to the economic status of the construction market.

• Korean Journal of Agricultural Science
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• v.29 no.1
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• pp.66-83
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• 2002

The economic feasibility analysis including benefit-cost ratio and internal rate of return of a land consolidation and on-farm development project was mainly depended upon the direct benefits and costs arising during project life. Therefore the projects were neglected in allocating the government's financial funds and loans on account of the low economic rate of return of the project. Accordingly the extended benefit-cost analysis method should be introduced and adapted to cover not only the benefit s such as non-market values of environmental and food security fun ct ions of the project but also market values of the project outputs. The main purposes of this study are (1) to prepare a guide line for economic feasibility analysis based on the IBRD and ADB guidelines, (2) to estimate the benefits from productivity increase, labor saving, savings of O&M cost of farm mechanization and project facilities, savings of farmer's burden for their public health, increasing environmental and public functional value of paddy fields, improving food security condition and formation of peaceful and uncontroversial rural society by implementing the land consolidation and on-farm development, (3) to introduce the newly adapted analytical method as the extended benefit cost analysis which could make possible to be included the values of non-market goods such as the food security and the environmental public function of paddy fields. To carry out this study, the existing publications on the guidelines for economic agricultural projects were reviewed and consultation was made with a For the post evaluation study of the land consolidation and on-farm development project, field survey in Jigok and other comparative area were made to get available information. According to the project completion report, Jigok land consolidation and on-farm development project has 55ha of benefit area out of 69ha of gross area. The project was started in November 11th, 2000 and completed october 30th, 2001. The total project costs were amounted to 2,548 million won and the annual project benefits were estimated at 335million won evaluated by domestic market prices. The ERR(Economic Rate of Return) and SRR(Social Rate of Return) of the project based on the shadow pricing system were estimated at 4.4% and 16% respectively. On the other hand, the ERR and SRR based on the domestic market value system were amounted to 6.37% and 14.62%. In conclusion, Korean land consolidation and on-farm development projects have not carried out from the view point of economic rate of return under shadow pricing system but from the view point of domestic pricing system. For the future feasibility studies on land consolidation projects have to be carried out including the non-market values as environmental and food security function of the projects.

• Journal of Internet Computing and Services
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• v.18 no.4
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• pp.109-119
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• 2017

This paper is to analyse empirically using the data collected from Korea portal Naver's ad management system and show online ad platform may not be two-sided market. It is aim of this study to propose the appropriate approach to define the market, based on the empirical result. Here are two research questions to be reviewed. First, is there any consistency between business model of search advertising and definition of two-sided market which Rochet-Tirole proposed in 2006? Second, do indirect network externalities exist significantly in search advertising market? if so, this study is going to estimate the level of it through empirical measurement. Based on Luchetta's paper which suggested that google may be one-sided market, it performed the correlation & regression analysis to prove his suggestion. The result is that online search advertising costs increased by more than 50 won when advertisers increased by one unit. However, there was no significant correlation and regression between the search frequency and online search advertising cost. It means that there is little possibility to identify two-sidedness in online search advertising service(market) because of no(or little) indirect network externalities which are a necessary condition for two-sided market. This result has three implications, such as the availability to adapt traditional market definition tools to online search advertising market, the possibility enhancement to find the fundamental competition elements in defined market and promotion of the powers of persuasion in competitive market reality. It is significant that the gap between legal scholars including regulatory practitioners and economists can be overcome to some extent. who have shown the different perspective on the two-sided market.

• Journal of Fashion Business
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• v.7 no.2
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• pp.1-14
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• 2003

This study were to grasp the present situation of the pet wear market and the problem of pet wear, and to develop the pet wear pattern which agrees well to dog's shape and movements. We carried out survey research to analyze the actual pet wear market condition for a dog-lover, and movement analysis and sensory test to develop a pattern for Maltese which was the favorite dog among Korean. For data analysis, ANOVA with duncan test, T-test were conducted using SPSS statistic program(ver. 10.0). The results are as follows: 1. The results of the survey research, 75% of dog-lover had a pet wear and favorite was T-shirts. The problems of wearing T-shirts were 'too tight seam sleeve and bodice(front legs hole)', 'the clothes easily hang down' and 'easily taken off due to large neck size'. 2. The ease amount of the developed pattern was given according to the results of dog's shape and movement analysis, and the results of sensory test, there is a significant difference in the following items: depth of front neck line, front chest${\to}$abdomen curve, ease amount of sleeve, comfort level of leg parts. 3. The size of each parts of the developed pattern in this study were as follows : neck girth 27.0cm, body girth 40.0cm, back length 26.0cm, front leg girth 23.0cm, sleeve length 20.7cm, sleeve width 14.4cm. But, there exists some limits to generalize these results since dog's body size and shapes are various according to dog species. Therefore, further studies are needed to develop each pet wear pattern for each dog species.