• 재무관리연구
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• 제22권2호
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• pp.107-133
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• 2005

본 논문은 신용평가기관의 신용등급 변경공시 정보가 주식시장과 채권시장에 어떠한 영향을 주는 지를 1993년 1월에서 2001년 2월까지의 주식시장과 2000년 7월에서 2001년 2월까지의 채권시장에서의 자료를 이용하여 사건연구를 통하여 살펴본다. 주식시장의 경우를 살펴보면, 등급이 상승하는 경우는 신용등급 공시전이나 공시 후 유의한 반응이 관찰되지 않았다. 그러나 신용등급이 2등급 이상 하락한 경우는 등급 변경 공시 이전과 등급 공시일과 이후 모두에 유의한 반응을 나타냈으며 등급이 1등급 하락한 경우는 사건이 발생한 이후의 경우에서만 유의한 반응을 나타내었다. 채권시장에서는 등급이 상승하는 경우에는 투자수익률이 상승하고, 만기수익률이 하락하는 것이 관찰되며, 등급이 하락한 경우에는 투자수익률이 하락하고, 만기수익률이 상승하는 것이 관찰된다. 또한, 등급이 하락하는 경우가 상승하는 경우보다 그 변동이 크다.

• 수산경영론집
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• 제51권4호
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• pp.47-67
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• 2020

I explore that South Korea's major import fishery product markets-frozen hairtail, frozen mackerel, frozen pollock and frozen squid-are integrated by testing whether there is favorable evidence of the law of one price (LOP). Unlike previous studies on the LOP for fishery product markets, I assume non-zero import costs and include them in a trade model. To explore whether LOP holds for major import fishery product markets in South Korea with non-zero import costs, I utilize a non-linear time-series model, Smooth Transition Autoregressive (STAR) model with the sample periods from January in 2002 to December in 2019. I find that the behaviors of home-foreign price (i.e., import price) differentials of all four major import fishery products are non-linear depending on whether trade occurs and favorable evidence of LOP for each import market in South Korea. These findings indicate that each of South Korea's major import fishery product markets is integrated. They imply that the supply of each major import fishery product-frozen hairtail, frozen pollock, frozen mackerel and frozen squid, and their prices are stable even if there is an economic shock on each market. When it comes to trade policy implications, the Korean trade policy including tariffs or quotas against their import countries for the four major import fishery products may not have influences on their price in the markets.

• 한국건축시공학회:학술대회논문집
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• 한국건축시공학회 2020년도 봄 학술논문 발표대회
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• pp.202-203
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• 2020

Unlike price calculation by cost accounting, which categorizes costs into material costs, labor costs, and miscellaneous expenses to determine the construction budget price, construction cost calculation based on Construction Standard Unit Prices utilizes unit prices extracted from market prices of items from projects already completed to estimate costs of similar construction projects. Although unit price information is collected through construction site surveys to revise these construction standard unit prices every year, but due to the limitations of the site survey method, it is difficult to quickly implement the rapid changes in the construction methods and market prices. As such, an important issue that arose was the identification of work items whose prices need urgent revision. This study conducted research on factors that need to be considered when developing online survey system for monitoring construction site market prices. This study is expected to enhance convenience for users, and provide an efficient data collection and management system for administrators.

• 한국의류학회지
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• 제19권3호
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• pp.448-462
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• 1995

The purpose of this study was on the development of jeans via conjoint analysis and marketing strategies for each segmented market. The questionnaire was composed vervel card and defining the proper marketing strategies for each segmented market. The 269 usable data was distributed to the Univ student and carrier women through multi- stage , ;ambling. The statistical results were processed by the SPSS, PC MDS, and MANZANOLA program. The used methods of statistical data were conjoint analysis, KYST, PROFIT, factor analysis, frequency, one-way ANOVA, SNK, and paired t-test. The results of this study can be summaries as follows: 1. In competitor analysis, Korean brands were in low price zone, but foreign in high price and character style zone. 2. There was significant differences Korean brands and foreign brands on evaluating. On the basis of the perceptual maps, most of Korean brands were evaluated as having a good price and most of foreign brands were evaluated as having a good design. 3. The optimal jeans has the well-known brand, the price of less than 30, 000 won, traditional style, and good quality. In four attributes of clothing buying process, brand is most important attribute of jeans. Segment market 1.All the jeans that they have is Korean brand. Income, amount spent per month on clothing, how many having jeans is low market. Self-centered factor is lowest. In the clothing sari ales lifestyle, they considered most conviniance. Segment market 2-They have one foreign brand jeans. Income, amount spent per month on clothing, how many having jeans is low market. Self-centered factor is lowest Segment market 3-They have two foreign brand jeans. Income, amount spent pet month on clothing, how many having jeans is high market. Self-centered factor is high. In the clothing variables lifestyle, they considered brand, continuance, and character. Segment market 4-They have more than three foreign brand. Income amount spent per month on clothing, and how many having jeans is high market. Self-centered factor is high. In the clothing variables lifestyle, they considered most brand, and character.

• 무역학회지
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• 제48권2호
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• pp.129-151
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• 2023

본 연구는 국내 주요 수입 수산물- 냉동명태, 냉동고등어, 냉동참치 그리고 냉동어란- 시장을 대상으로, 각 수출국이 차지하는 시장점유율에 따라, FTA 발효가 환율전가도에 미친 영향이 어떻게 달라지는 지 살펴 보았다. 이에 더하여 각 수출국이 차지하는 시장점유율이 원화표시 수출가격 환율전가도에 미친 영향 뿐만 아니라, 수출국들의 가격경쟁구조에 미친 영향 역시 살펴보았다. 이를 위해, 본 연구는 2010년 1월부터 2019년 12월까지 각 수출국의 원화표시 수산물 수출가격과 각 수산물 수입시장에서 개별 수출국별 교차환율의 월별 자료를 이용하여, 최대우도법(Maximum Likelihood)을 바탕으로, 각 수출국의 원화표시 수출가격함수를 추정하였다. 분석 결과, FTA 발효가 환율전가도에 미친 영향은 수출국인 FTA 회원국이 차지하는 시장점유율과 높은 상관관계에 있음을 발견하였다. 하지만 수출국이 차지하는 시장점유율과 원화표시 수출가격 환율전가도 그리고 다른 경쟁국의 수출가격에 미친 영향 사이에서는 뚜렷한 관계를 파악하기 어려웠다. 본 연구 결과를 통해, 국내 수산업자들은 국내 주요 수산물 수입시장에서 각 수출국들이 차지하는 시장점유율에 따른 환율전가도 차이 및 FTA 발효가 환율전가도에 미친 영향의 차이 그리고 수출국들 사이의 가격경쟁구조를 이해하는 데 중요한 자료가 될 것이라 예상된다. 뿐만 아니라, 각 수산물 수입시장에서 차지하는 시장점유율에 따라, 각 수출국별로 FTA 발효 이후, 환율이 국내 수산업에 미치는 영향에 대응할 수 있는 방안에 관해 생각해 보는 데 도움이 될 것이라 사료된다.

• 대한전기학회논문지:전력기술부문A
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• 제55권5호
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• pp.214-219
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• 2006

Oligopoly differs from perfect competition and monopoly in that a firm must consider rival firms' behavior to determine its own best policy. This interrelationship among firms is the issue examined in this paper. In the oligopoly market, the complete information market means that each producer has full information about itself, the market, and its rivals. That is, each producer knows the market demand function, its own cost function and the cost functions of rivals. On the other hand, the incomplete information market means that in general each producer lacks full information about the market or its rivals. Here, we assume that each firm doesn't know the cost functions and the strategic biddings of its rivals. The main purpose of this paper is to analyze firm' strategic behaviors and equilibrium in an electricity market with incomplete information. In the case study, the complete information market and the incomplete market are compared at the Nash Equilibrium from the viewpoints of market price, transaction quantities, consumer benefits, and Social Welfare.

• 수산경영론집
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• 제46권3호
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• pp.31-49
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• 2015

This study examines whether or not the South Korean major fishery product import markets; Frozen Pollock, Frozen Long Arm Octopus, and Frozen Hairtail are integrated. We are utilizing the Multivariate and Bivariate Johansen Co-integration test to see if the law of one price(LOP) holds in each market or not. The empirical results show that even though import prices from different countries affect each other in each South Korean major fishery product import market, there is no evidence of LOP in any fishery product import market, which means that none of the markets are integrated. Based on these results, we could expect that the three major fishery product import markets show monopolistic competition among import countries. we would also see whether or not any country plays the role of a price leader in any of the markets. Based on weak exogeneity test results, we might expect that the United States and Malaysia are price leaders in the South Korean Frozen Pollock Import Market and Frozen Long Arm Octopus Import Market, respectively; however, we need to study more on this in the future.

• 아태비즈니스연구
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• 제14권3호
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• pp.187-204
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• 2023

Purpose - This study deals with the manager's overconfidence and stock price delay, and verified whether the stock price delay phenomenon changes as the overconfidence increases. Design/methodology/approach - Manager overconfidence means that managers have over confidence in their positions or abilities, and was measured according to Schrand and Zechman (2012). Stock price delay is a phenomenon in which information of company is not immediately reflected in the stock price, but is reflected over time, and was measured by the method suggested in a study by Hou and Moskowitz (2005). The analysis subjects used in this study are companies listed on the KOSPI market between 2011 and 2019, and the final sample is 5,509 company-years. Findings - As a result of the verification, it was shown that the stock price delay decreased as the manager's overconfidence increased, and this effect was amplified as the foreign shareholder's share ratio increased and the number of follow-up financial analysts increased. This means that as the manager's overconfidence increases, he actively provides high-quality information to the capital market. In addition, as a result of subdividing the manager's overconfidence into the investment and capital raising aspects, the capital raising aspect has a significant effect on reducing stock delays. This can be interpreted as the fact that managers with overconfident tendencies have a greater incentive to satisfy investors' information needs. Research implications or Originality - In previous studies, the characteristics of managers with strong overconfidence have both positive and negative aspects. The results of this study are significant in that they clearly demonstrated the positive aspect through the market variable of stock price delay, and it is expected to help capital market stakeholders understand the characteristics of managers with a strong propensity for overconfidence.

• 전기학회논문지
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• 제56권10호
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• pp.1731-1737
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• 2007

The Korea electricity wholesale market is operated under the cost-based-pool system and the government regulation to the new generation capacities in order to insure the resource adequacy. The goal of government's regulation is the electricity market stability by attracting proper generation investment while keeping the reliability of system. Generation companies must mandatory observe that government plan by now. But if the restructuring is to be complete, generation companies should not bear any obligation to invest unless their profitability is guaranteed. Namely the investors' behavior will be affected by the market prices. In this paper, the system dynamics model for Korea wholesale electricity market to examine whether competitive market can help to stabilize is developed and analyzes the investors behavior. The simulation results show that market controlled by government will be operated stable without resulting in price spike but there is no lower price because of maintaining the reasonable reserve margin. However, if the competition is introduced and the new investment is determined by the investor's decision without government intervention, the benefits from lower wholesale price are expected. Nevertheless, the volatility in the wholesale market increases, which increases the investment risks.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.201-208
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• 2021

This study aimed to identify the key factors that affect the financial market performance (Price-Earnings Model) through a sample of 35 public shareholding industrial companies on the Amman Stock Exchange for the period 2010-2019, using statistical models and methods, such as the Simple Linear Regression Model, Correlation Coefficient, and dispersion board. The study results showed the nonexistence of a statistically significant effect between the intellectual capital and market value added (MVA) and market performance. Results also showed a statistically significant positive effect between financial leverage (FL) and the market performance, where the interpreted variation reached 64%. It showed from the analysis results that the relationship between (MVA) and market performance (P/E) agrees with the study hypotheses, while the result related to (FL) disagrees with the study hypotheses. The study recommends that public shareholding industrial companies should focus more on intellectual capital and show its value in the annual financial statements and reports, and those companies that have high profitability and the chance to hold gains and profits should rely less on debt and more on retained earnings, due to the high risk of debt and in line with the present unstable circumstances in Jordan, especially in light of the global Covid-19 crisis.