• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.657-668
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• 2020

This paper investigates the effect of market structure, including some bank-specific variables and macroeconomic conditions, on the profitability of Indonesian Islamic rural banks. We apply the structure conduct performance (SCP) and the relative market power (RMP) hypothesis. Panel data comprising 142 Islamic rural banks from 2013Q1 to 2018Q4 are employed. This study breaks them apart, associated with the level of economic development consisting of Java as developed regions and outside Java as less developed regions. This study employs static and dynamic panel regression. The GMM method, however, is appropriate because of the dynamic nature of profitability. Our results confirm the SCP hypothesis and fail to support the RMP hypothesis. The higher market concentration allows Islamic rural banks to generate a significantly higher profit by conducting a collusive strategy. More interestingly, the collusive behavior may result in more profit for Islamic rural banks located in the developed regions than those in less developed regions. Evidence also highlights the importance of operating efficiency and impaired financing on profitability. High operating efficiency and low impaired financing can improve profit. Our results suggest that capitalizing market share by improving efficiency and optimizing financing contracts between PLS and non-PLS contracts also improve profit.

• Economic Analysis
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• v.27 no.1
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• pp.67-90
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• 2021

This study found an interesting fact that the nonlinear relationship structure between volatility and trading volume changed before and after the COVID-19 pandemic according to empirical analysis using Bitcoin (BTC) market data that sensitively reflects investors' trading behavior. That is, their relationship appeared positive (+) in a stable market state before COVID-19 pandemic, as in theory based on the information flow paradigm. In a state under severe market stress due to COVID-19 pandemic, however, their dependence structure changed and even negative (-). This can be seen as a consequence of increased market stress caused by COVID-19 pandemics from a behavioral economics perspective, resulting in structural changes in the asset market and a significant impact on the nonlinear dependence of volatility and trading volume (in particular, their dependence at extreme quantiles). Hence, it should be recognized that in addition to information flows, psychological phenomena such as behavioral biases or herd behavior, which are closely related to market stress, can be a key in changing their dependence structure. For empirical analysis, this study performs a test of Ross (2015) for detecting a structural change, and proposes a Copula Regression Quantiles (CRQ) approach that can identify their nonlinear relationship structure and the asymmetric dependence in their distribution tails without the assumption of i.i.d. random variable. In addition, it was confirmed that when the relationship between their extreme values was analyzed by linear models, incorrect results could be derived due to model specification errors.

• Journal of Distribution Science
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• v.14 no.10
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• pp.47-57
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• 2016

Purpose - This study's purpose is to investigate the market structure of the Korean duty free shop industry that has received recent attention from researchers and practitioners. By raising the question of whether or not the Korean duty free shop industry is unequivocally monopolistic, a wider viewpoint is provided. The study seeks to offer insights and managerial implications for marketers and policy makers who are in charge of regulating major Korean duty free shops. Research design, data, and methodology - The authors use secondary data from various sources, including Korea Customs Service and the Moodie Report, to investigate the structure of the duty free shop industry of Korea. Based on several theories, they present various criteria and statistical evidence such as K-firm concentration ratio, HHI, consumer substitutability, excess profit, and marketing costs. Results - In terms of consumer substitutability, it is difficult to confirm whether or not the Korean duty free shop industry is monopolistic. Notwithstanding monopoly characteristics in terms of market share, neither the company Lotte nor Shilla appear to have market dominating power. It is not easy for either of them to control prices or to achieve a much lower operational profit ratio due to a dominant bargaining power. Moreover, the license is not an economic rent. In this situation, it is not easy for these companies to obtain an excessive profit. Conclusions - Considering that most global duty free shops are trying to go upscale to improve bargaining power, it does not seem likely that rigid regulations are needed in the industry. Even though the Korean duty free industry ostensibly has a monopolistic structure, government and policy-makers should look beyond the surface. They should take global and other reasonable criteria into consideration when they establish or change regulation policies. Thorough understanding and appropriate support are needed for the Korean duty free shop industry. Additionally, duty free shops should position themselves as global companies struggling against unlimited international competition, rather than Korean domestic companies. At the same time, they need to give customers appropriate information about the benefits they provide.

• Journal of Korean Society for Geospatial Information Science
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• v.23 no.1
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• pp.39-45
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• 2015

The housing market is transformed by a variety of socio-economic characteristics, also appeared differently according to regional characteristics. This study aims to draw out the change factors influencing on the housing market structure and to analyze the drawn factors' distribution pattern by area. For this purpose, First, targeting 251 areas in the units of city, county and districts nationwide, this study drew out demographic, socio-economic variables influencing on the housing market structure for 5 years ranging 2005 to 2010. For that, the factor analysis was conducted. Second, this study grasped the change factors of the housing market structure's spatial patterns using the kriging method, a spatial statistical method. Third, this study used the Moran I, one of spatial autocorrelation analysis methods in order to grasp whether the factors had statistically significant concentration or dispersion or showed a random distribution pattern.

• International Commerce and Information Review
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• v.14 no.4
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• pp.131-152
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• 2012

This study has analyzed the international trade flow of medical devices in Korea, China, and Japan more theoretically and systematically through a mutual connection of the medical device export structure of Korea and the import structure of China and Japan organically, with an intensity approach on the bilateral international trade flow. Also, it is meaningful to find a solution to boost exports of Korea to China and Japan. Therefore in this study, we recognize the importance of the medical device market in China and Japan, which is the main competition for Korea and its market, and look into the trade situation of these three countries. We also look into the relative market stream and the trade intensity of the main medical devices in Korea, China and Japan, and seek measures for the steady growth of the medical device market in these three countries.

• Management & Information Systems Review
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• v.11
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• pp.1-21
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• 2002

Corporate culture is being recognized as essential managerial resources in the future business management and in recently the attempts, though weak, of developing the corporate culture which is corresponded with their own structure and needs are being carried on by some major companies. Then, corporate culture research, drawing attention in nowadays, indicates that it attempts to analyze and search the organization matters in the basical dimension in regard to the assumptions, values and beliefs of organization and provides the solution of organizational negative effects, which have not been settled in the previews research methods of organizational behavior, and that present turbulent management environment demands the whole conversion from the previews hard style to the soft managerial style. For this reason, this study aim at identifying organizational structure and corporate culture in the business group. Futhermore, the influence of organizational structure and organizational culture are examined. The objective of this paper attempts to analyze the ways and results of strong and special culture on the organizational structure and culture. To accomplish this purpose, this study gathers in-depth data form various secondary courses. First, uncertainties in market and technology are the main sources of mimetic isomorphism. Due to the high level of uncertainty is market and technologies. Smallness in size is responsible for the low level of complexity in organizational structure. The rapid changes in market, contents of service, and tastes of customers are responsible for the low level of formalization, which enhances swift decision making and responses.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.8
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• pp.99-108
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• 2022

This study aims to examine the influence of capital structure on the business efficiency of joint stock commercial banks listed on the Vietnamese stock market. The article uses data collected from the financial statements of 15 prominent joint-stock commercial banks out of 27 joint-stock commercial banks listed in Vietnam from 2011 to 2021. The research uses E-view software in quantitative analysis to build regression models to determine the relationship and the impact of capital structure factors on the business efficiency of listed joint stock commercial banks. Research results show that ROA is affected by 2 variables of capital structure. It is the sum of customer deposits to total assets and total liabilities to total equity. Total debt to total equity and total customer deposits to total assets both have a negative effect on ROA. For the regression results of ROA with all control variables, the control variables have a positive relationship with the dependent variable. The article has provided recommendations based on the research findings to determine the proper capital structure. Managers must solve the outstanding amount of mobilized capital in previous years, combined with the bad debt handling activities that have arisen.

• The Journal of the Korea Contents Association
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• v.12 no.11
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• pp.368-376
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• 2012

Government has strictly regulated the concentration of the media market because the number of broadcasters was traditionally limited and they had significant influence on public. However as the media market converges with Internet's open architecture, scarcity and pervasiveness are losing their roles in justifying media regulation. This article examines market convergence and its impact on market concentration, and criticizes the current concentration regulation. The study indicates that market performance are much governed by firm's competitive actions than market structure, and that vertical integration contributes to service innovations, and that horizontal concentration makes it difficult to measure due to its even-changing market definition. Therefore, the regulation for market concentration should shift its focus from firm's market share to broadcaster's unfair acts driving market inefficiency and hurting content diversity.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.55 no.10
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• pp.440-445
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• 2006

As an electricity industry transforms into a competitive system, an electricity market revolves into a combined market consisting of generation and operating reserve. This paper presents a market model combined by an energy market and an operating reserve market. In a competitive structure, Gencos strive to choose strategic bidding parameters that maximize total profit resulting from an energy market and a reserve market. The primary goal of the paper is to analyze power transactions of generation and operation reserve based on marginal profits and capacity limits at NE(Nash Equilibrium). In case studies, the reserve market and the energy market are compared at the n from the viewpoints of marginal profits, prices and transaction quantities. It is shown that the marginal profit in an energy market is equal to that in a reserve market, and Gencos strategic bidding is greatly influenced by capacity limit.

• Journal of the Korean Regional Science Association
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• v.6 no.1
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• pp.11-38
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• 1990

The purpose of this thesis is, first to present the spatial division of labor in Korea and its mechanism, and second, to elucidate the organic integral relation between local labor market and local community by studing the mechanism that the spatial division of labor is projected into the individual lacal labor marker, and reproduction of labor force process in this local labor market. According to this purpose, the theoretical frame of this analysis is done, the positive analysis is made and Kumi is choosed as its analysis case area. The main data is from 'Survey Report on Manufacturing Idustry Wage Conditions' published by Minimum Wage Council, Ministry of Labour and from the questionnaires and interview on textile industry and electric electronics industry firms in Kumi Export Industrial Estate. The following are the results of this study. 1. The mechanism of spatial division of labor in Korea, seen through the employment structure index, is accelerating the regional discrimination by fixing the regional hierarchisation between Seoul (or Seoul Metropolitan Area as expanded Seoul) and other areas. But it is also developing highly the regional employment structure at the level of technical division of labor, since the spatial division of labor in Korea is leaded by large firms and influenced by the policy for regional development. 2. Local labor market is formed in Kumi area and its delimitation is Kumi city. The employment structure of Kumi local labor market is occupying lower hierarchy division at management hierachical level and occupying upper hierarchy division at the level of technical division of labor, and brand plants of large firs are determinating and dominating this emplogment structure. These bdranch plants of large firs are forming more favorable and stabel labor marker than locally controlled ploants in Kumi local labor market. But the reproduction of labor force process in Kumi local labor market is not fully carried out and leaked into central city, therefore Kumi is now becoming an unstable local community, suffering from large movement of population. This is because Kumi local labor market is found not for itself, but by the state policy and externally controlled plants of large firms, and therefore no potentiality to control and to absorb the exterior influences is built in Kumi local labor market. 3. The case firms A, B have spatial division of labor between decision-making function and production function, and between upper management hierachical labor force and lower management hierachical labor force in internal labor market.