• Journal of The Korean Digital Architecture Interior Association
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• v.12 no.1
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• pp.89-98
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• 2012

While the housing transaction price of Seoul tends to be stagnant or declining in line with the housing market recession since 2007, the jeonse price keeps continual increase. Such flow of jeonse price change has a serious influence on ordinary person's housing stability seriously. Therefore, it is very meaningful in terms of social policy to analyze the trend of recent jeonse price change. This study aims to have an empirical analysis of structural characteristics of the trend of recent jeonse price change. After the review of various previous studies, this study selected housing jeonse price index, non-sold house quantity, jeonse vs. transaction price rate, and housing construction performance as analytical variables, and employed monthly time series resources from January 2007 to April 2011. As a result, when the housing supply reduced, the potential quantity for jeonse market reduced that occurred unbalance of supply and demand in jeonse market. In turn, it caused the increase of jeonse price. And, in case of jeonse vs. transaction price rate change, the rate increased which means the increase of required rate of return of invested demand. As such, the increase of market risk degenerates the investment sentiment which caused the reduction of quantity for jeonse market as a submarket.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.51 no.6
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• pp.269-275
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• 2002

Recently, Korea's electric industry has experienced substantial changes in its structure and function including the introduction of competition in the generation sector. Korea is in the early stages of market competition where the market price is determined by generation costs. In the future, the market Price will be determined by generators'bids. Therefore, the generators'profit is determined by market pool price, the prospects of pool price are very important for new capacity investment decision made by generators and IPPS. This study analyzes hourly marginal costs and LOLP considering basic generation mix and characteristics develops the relationship of pool price and Profit by generation-type using the change in reserve margin, and proposes basic direction for profits variation and supply-demand analysis in the electricity market in future.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.977-985
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• 2021

The main aim of the study is to provide empirical evidence about the association between stock market exchange data and weighted price index. This research utilized monthly reported data from the Amman stock exchange market (ASE) and the Central Bank of Jordan (CBJ). The weighted price index was employed as the dependent variable and the independent variables were weighted price index (WPI), turnover ratio (TOR), number of trading days (NTD), price-earnings ratio (PER), and dividends yield ratio (DY). The time period of the study was from January 2015 to October 2020. The study's methodology follows a quantitative approach using the multiple regression method to test the hypotheses of the study. The final results of the study provided conclusive evidence that the market-weighted price index is strongly and positively correlated to three predetermined variables, namely; turnover ratio, price-earnings ratio, and dividend yield but no evidence was obtained for the effect of the number of trading days. The finding of the current study proved that the market price index is not only influenced by macro factors, but also by other variables assumed to not beneficial for the judgment of price index movements.

• International Journal of Computer Science & Network Security
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• v.21 no.7
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• pp.211-220
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• 2021

The aim of the study is to implement a factor analysis of the determinants of pricing in a state-regulated competitive market using economic and mathematical modelling methods and to develop ways to improve the pricing environment of the market under study. The purpose of the work defines the main objectives: (i) to investigate the features of the competitive model of the Ukrainian flour market; (ii) to analyse the current price conjuncture of the flour market and the dynamics of the main determinants of pricing; (iii)to develop ways of improving the price situation on the flour market on the basis of the factor analysis on the results of economic and mathematical modelling. In order to ensure the reliability and validity of the research results, the following methods were applied: the logical-dialectical method of scientific knowledge in the study of the main theoretical aspects of flour market functioning, the method of logical generalisation and synthesis, comparison, factor analysis, correlation and regression analysis, the graphical method, etc. It has been shown that pricing in a state-regulated competitive market has its own characteristics. For example, in the flour market the price of goods cannot be influenced by producers (sellers) by any methods, therefore determinants of pricing by indirect influence have been taken into account. The five-factor power model of wheat flour price has been constructed. It was substantiated that the price of wheat flour in Ukraine is mostly influenced by consumer price index (0.92 %). The received complex model of wheat flour price may be used also for medium-term forecasting and working out the ways of price formation optimization in the flour market.

• The Journal of Fisheries Business Administration
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• v.29 no.2
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• pp.77-96
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• 1998

Fisheries products in Korea generally go through three markets, namely the wholesale market at production site (Market A), the wholesale market at consumption site (Market B), and the retail market (Market C), from producers to end consumers. As the products move from Market A through Market B to Market C, the marginal gap of prices asked in these markets demonstrates an apparent relationship. The producers, middlemen, consumers, and governmental departments concerned may influence the marketing prices of fisheries products. This study employing the cointegration theory tries to investigate whether causality of the price-setting among these markets exists and, if any, what it is. The authors have focused their attention on fisheries markets in Pusan, analyzing the long-run equilibrium relationship and causality between the prices of hairtail and squid among markets at different levels. Data used in this study cover the period f개m August 1984 to December 1997 fer hairtail, and the period from May 1989 to December 1997 for squid. The main findings of the study may be summarized as follows: First, regardless of the price time-series of hairtail and squid in individual market, the first difference is necessary fur satisfying the stationary conditions since each time-series is a first integration. This means homogeneous integration of time-series, which is a requirement of the long-run equilibrium of prices at different markets, is satisfied. Second, the study of the long-run equilibrium relationship between the prices at Market A and Market B shows that a long-run equilibrium relationship does exist for selling prices of the two species at Market A and Market B. Third, the ECM (error correction model ) used here to describe the long- and short-run dynamics of price change demonstrates that, in the case of squid, the price change in Market A will lead to a corresponding price change in Market B in the long-run period. In the short-run, however, the price at Market H is not only influenced by the price change in Market A but influence the price at Market A as well, that is, the Prices between Market A and Market B have a feedback effect. It should be stressed that the limitation in data collection, which cover only two species of hairtail and squid, is likely to cause a sampling bias. Nonetheless, we may conclude that a dynamic relation in the formation of prices does exist in view of the transaction amount of species at different markets. It is believed that the conclusion drawn from this study would not only contribute to a long-lasted debate on the direction of causality of price-setting among academic circle and fishing community, but would provide a useful standard for the policy makers in charge of the price-setting of fisheries products as well.

• Journal of The Korean Digital Architecture Interior Association
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• v.10 no.2
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• pp.13-20
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• 2010

Uncertainty in housing price fluctuation has great impact on the overall economy due to importance of housing market as both place of residence and investment target. Therefore, estimating housing market condition is a highly important task in terms of setting national policy. Primary indicator of the housing market is a ratio between rent and transaction price of housing. The research explores dynamic relationships between Rent-Transaction price ratio, housing transaction price and jeonse rental price, using Vector Autoregressive Model, in order to demonstrate significance of shifting rent-transaction price that is subject to changes in housing transaction and housing rental market. The research applied housing transaction price index and housing rental price index as an indicator to measure transaction and rental price of housing. The price index and data for price ratio was derived from statistical data of the Kookmin Bank. The time-series data contains monthly data ranging between January 1999 and November 2009; the data was log transformed to convert to level variable. The analysis result suggests that the rising ratio between rent-transaction price of housing should be interpreted as a precursor for rise of housing transaction price, rather than judging as a mere indicator of a current trend.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.125-134
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• 2020

This study examines the nominal price anomaly in the Vietnamese stock market, that is, whether stocks with low nominal price outperform stocks with high nominal price. Using a sample of all 351 companies listed on the Ho Chi Minh Stock Exchange (HOSE) from June 2009 to March 2018, we confirm our hypothesis and document that cheaper stocks yield higher subsequent abnormal returns. The results are robust after controlling for various stock characteristics that have been documented to be value-relevant in prior literature, including firm size, book-to-market ratio, intermediate-term momentum, short-term reversal, skewness, market risk, idiosyncratic risk, illiquidity and extreme daily returns, using both the portfolio analysis and the Fama-MacBeth cross-sectional regression. The negative effect persists in the long term (i.e., after up to 12 months), implying a slow adjustment of stock prices to their intrinsic value. Further analysis show that the observed nominal price anomaly is mainly driven by mispricing but not a latent risk factor proxied by stock price, thus the observed anomaly reflects a mispricing but not a fundamental risk. The study highlights the irrational behaviour of investors and market inefficiency in the Vietnamese stock market and provides important implication for investors in the market.

• Korean System Dynamics Review
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• v.3 no.1
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• pp.43-60
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• 2002

This paper describes the forecast of wholesale price in competitive Korean electricity market using the system dynamics approach. The system dynamics concepts have been implemented with the Ithink software. This software facilitates the development of stock and flow model with information feedback. Using this model, the future wholesale electricity price can be computed hour by hour, quarterly, and yearly. This model also gives the energy planner the opportunity to create different scenarios for the future of deregulated wholesale markets in Korea. Also It will lead to increased understanding of competitive wholesale market as a complex, dynamic system. Research results show that the plant construction appeared in waves of boom and bust in Korean electricity market like real estate construction. That is, the Korea wholesale market's new power plants and the market price will appear the Boom and Bust cycle. It is very similar behavior as real estate industry. In case of consideration of DSM program, The DSM savings lead to a somewhat different timing of the booms in construction and of price spikes. But the DSM programs do not eliminated the fundamental dynamics of the boom and bust. And the wholesale price is maintained at the lower level compared to the case of without DSM program. However, the unexpected result is found that due to the lower market price, Investor make significantly less investment in new CCs, which leads to the higher wholesale price after 2010. It suggests that the DSM Policy must be implemented with the dynamics of competitive Electricity Market.

• Journal of the Korean Society of Clothing and Textiles
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• v.26 no.11
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• pp.1605-1614
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• 2002

The purpose of this study was to identify the consumers who use the level of price as the indicator of the product quality. In order to implement the purpose of this study, Jeans market had been segmented by the mixture regression model, and price response function was calibrated for each segment. Based on the types of price response function, segments were allocated into one of two groups; the group using the level of price as the quality indicator or the group not using the level of price as that. Then, characteristics of both groups were compared in terms of product attributes and demographic variables. Data were co]looted from the sample of the 23o undergraduate and graduate students in Seoul. For the data analysis, mixture regression model, conjoint analysis, and t-test were used. As a result, jeans market was divided into 5 segments. Segment 1,2,3 were allocated into the group not using the level of price as the quality indicator while segment 4,5 were done into the other group. Significant differences existed between two groups in product attributes, not in demographic variables. Mixture model and conjoint analysis were proved to be an effective set of tools in market segmentation.

• Journal of Electrical Engineering and Technology
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• v.3 no.1
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• pp.14-19
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• 2008

The paper presents an intelligent time series model to predict uncertain electricity market price in the deregulated industry environment. Since the price of electricity in a deregulated market is very volatile, it is difficult to estimate an accurate market price using historically observed data. The parameter of an intelligent time series model is obtained based on the simultaneous perturbation stochastic approximation (SPSA). The SPSA is flexible to use in high dimensional systems. Since prediction models have their modeling error, an error compensator is developed as compensation. The SPSA based intelligent model is applied to predict the electricity market price in the Pennsylvania-New Jersey-Maryland (PJM) electricity market.