• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.413-429
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• 2023

Purpose - The purpose of this study is to investigate the determinants of consumers' inflation expectations using consumers' inflation perceptions and the sub-components of consumer price index (CPI) basket in South Korea based on a consumer survey conducted by the Bank of Korea (BOK). Design/methodology/approach - Using Carroll's (2003) epidemiological model, we analyzed data from January 2013 to January 2023, resulting in a data set of 121 observations for both inflation perceptions and inflation expectations. This study focuses only on aggregate inflation expectations and perceptions because of data availability from the BOK. Findings - Professionals' forecasts play a major role in forming consumers' inflation expectations, whereas the actual headline CPI and consumers' inflation perceptions do not. These results remain robust when including the sub-components of the CPI basket in the analysis. Research implications or Originality - It would be the most efficient way to suppress professionals' expected inflation in fighting against a substantial spike in consumers' inflation expectations. To guide consumers' inflation expectations based on BOK's inflation targeting, the bank needs to consider professionals' forecasts in devising monetary policies.

• Journal of Navigation and Port Research
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• v.41 no.4
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• pp.181-188
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• 2017

In the existing ship sales market, prices determined based on the prices of similar ship types that recently traded. ince the 2008 financial crisis, ship prices have fluctuated, and ship price criteria have become ever more necessary to the imminent value of the ship. Therefore, this research used the hedonic price model to estimate imminent values of ships. In this study, the influence on ship prices was analyzed by the value of each characteristic and an estimated functional formula was. Out of the four models suggested by the hedonic price model, an optimal model was selected with variance inflation factors and a stepwise selection. For this, the influence of determinants of ship prices was analyzed based on actually traded ships and characteristic data. The selected model s the Log-Line model; as a result of regression analysis, eight variables, including DWT, Age, Market Value, Short-Term Charter, Long-Term Charter, Enbloc, Special Survey Due and Builder were to affect the ship price model. This model is expected to be useful for objective and balanced ship price evaluation.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.4
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• pp.1640-1647
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• 2012

The allocation to third parties in increase of capital is increasing in KOSDAQ firms. With this trend, they cause many problems which involves stock price manipulation. Under this condition, this study analyzes stock price reaction by event study to 197 cases of 81 KOSDAQ companies that allocated to third parties in increase of capital between the year of 2007 and 2009. And we find determinants of cumulative abnormal return by using multiple regression. Results of this research are as follows. First, in case of excess return of (-5, +5), it reveals positive excess return significantly at 1% significance level during 4 days before payment day(event day). But it reveals negative excess return significantly at 1% significance level during 5 days after payment day. Second, in case of excess return of (-40, +40), it reveals positive excess return significantly at 1% significance level during 40 days before payment day(event day). But it reveals negative excess return significantly at 1% significance level during 40 days after payment day. Third, in case of excess return of (0, 1 year), it reveals negative excess return significantly at 1% significance level during 1 year after payment day. Fourth, significant determinant of cumulative abnormal return to (-5, +5) was firm size with positive effect. Significant determinants of cumulative abnormal return to (-40, +40) were reserve ratio and debt ratio. Reserve ratio has positive effect But debt ratio has negative effect. Significant determinants of cumulative abnormal return to (0, 1 year) were firm size, debt ratio, reserve ratio. equity ratio to large shareholder. Firm size, debt ratio, equity ratio to large shareholder have negative effect. But reserve ratio has positive effect.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.10
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• pp.461-470
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• 2020

This study analyzed the determinants of land compensation costs using the CALS (Continuous Acquisition & Life-Cycle Support) system to generate data for the construction (planning, design, building, management) process. For analysis, variables used in the related research on land costs were used, which included eight variables (Land Area, Individual Public Land Price, Appraisal & Assessment, Land Category, Use District 1, Terrain Elevation, Terrain Shape, and Road). Also, the variables were analyzed using the machine learning-based Xgboost algorithm. Individual Public Land Price was identified as the most important variable in determining land cost. We used a linear multiple regression analysis to verify the determinants of land compensation. For this verification, the dependent variable included was the Individual Public Land Price, and the independent variables were the numeric variable (Land Area) and factor variables (Land Category, Use District 1, Terrain Elevation, Terrain Shape, Road). This study found that the significant variables were Land Category, Use District 1, and Road.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.11 no.6
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• pp.2038-2045
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• 2010

Households' monthly average income is composed of various factors. This study paper studies focuses on estimating the determinants of a households' monthly average income. The region for analysis consist of three groups, that is, the whole country, a metropolitan city(such as Busan, Daegu, Incheon, Gwangiu, Daejeon, Ulsan.) and Seoul. Analyzing period be formed over a 57 time points(2005. 01~2009. 09). In this paper the dependent variable setting up the households' monthly average income, explanatory (independent) variables are composed of the consumer price index, employment to population ratio, Index of housing sale price, the preceding composite index, loans of housing mortgage, spending rate for care medical expense and the composite stock price index. In looking at the factors which determine the monthly average income, evidence was produced supporting the hypothesis that there is a significant positive relationship between the composite index and housing loans. The study also produced evidence supporting the view that there is a significant negative relationship between employment ratios, the house sale pricing index and spending rates for care or medical needs. The study found that the consumer price index and composite stock price index were not significant variables. The implications of these findings are discussed for further research.

• Journal of Cadastre & Land InformatiX
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• v.50 no.1
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• pp.87-105
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• 2020

The government is trying to secure reliability by raising the accuracy, objectivity, and transparency of the official price by promoting the reliability improvement plan of the official price and increasing the realization rate, but the Realization rate of Publicly Notified Individual Land Price is showing a big difference because the current market price is not fully reflected in the official price. Therefore, this study collected the actual transaction price reported to the RTMS in Wansan-gu, Jeonju, Jeollabuk-do and the individual official price of the KRAS and calculated the realization rate of publicly notified individual Land Price. SPSS 25.0 program was used for the empirical analysis of this study. The Dependent Variable was the realization rate of publicly notified individual Land Price, and Independent Variables, was six land characteristics items were selected, one-way ANOVA was conducted and post-test was conducted by Scheffe method. As a result of the analysis, average difference in realization rate of publicly notified individual Land Price was found in Residential areas, Commercial areas, and Farmland, Public land and Residential and commercia, Residential and Forest. Especially, it was found that the price of commercial area is higher than that of residential area and green area, and the price is less reflected in individual official land price.

• Environmental and Resource Economics Review
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• v.31 no.2
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• pp.141-163
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• 2022

This paper empirically analyzes the effect of renewable electricity generation on the System Marginal Price (SMP) in Korea. Using an ARX-GARCHX model with hourly data from 2016 to 2020, we evaluate SMP determinants and merit order effects. As a result, we find that solar and wind power, as well as gas price and total load, play a critical role in the SMP. In particular, solar power reduces the SMP level but raises volatility during peak and off-peak periods. This result implies that SMP may fall as renewable electricity generation increases, leading to a decrease in the profitability of existing power plants and investment in renewables. On the other hand, even if the subsidy of renewable energy increases the burden on the SMP, it can be offset by the merit order effect, which lowers the SMP.

• Agribusiness and Information Management
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• v.6 no.2
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• pp.1-12
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• 2014

HMR is a home-style food product designed for convenience and cooked outside the home leaving out cumbersome cooking process and consumed at home. The present paper aims to find out factors that influence the consumption of HMR by analyzing data on food consumption during the 3 years between December 2010 and November 2013. Following the classification of Costa et al. (2001), this study categorized HMR products as 3 types as follows: C1 (ready to eat), C2 (ready to heat) and C3 (ready to cook), and examined factors affecting purchase rate and per capita purchase price for each type of HMR product. The results of our analysis show that only the purchase rate of C3 products was influenced by whether the purchaser was housewife with job or not. For those who do not live together with parents, per capita purchase price for HMR was high; and the more they ate out, the higher the purchase rate of HMR was.

• Health Policy and Management
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• v.3 no.2
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• pp.27-80
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• 1993

It is widely known that patients' utilization pattern for medical care facilities and the patientflow are influenced by multi-factors, such as demographic characteristics, structural characteristics of society, socio-psychological characteristics(value, attitude, norms, culture, health behavior, etc.), economic characteristics(income, medical price, relative price, physician induced demand, etc.), geographical accessibility, systematic characteristics(health care delivery system, payment methods for physician fees, form of health care security, etc.), and characteristics of medical facilities(reliability, quality of medical care, convenience, kindness, tec.). This study was conducted to research the mechanism of patient-flow according to changes of health care system(implementation of national health insurance, health care referral system and regionalization of health care utilization, etc.) and characteristics of medical facilities(ownership of hospital, characteristics of medical services, non-medical characteristics, etc.). In this study, the fact could be ascertained that the patient-flow had been influenced by changes of health care system and characteristics of medical facilities.

• Journal of Distribution Science
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• v.12 no.9
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• pp.47-52
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• 2014

Purpose - There has been little research on the variables influencing studio apartment values. This study aims to identify variables affecting the value of studio apartments in Seoul by empirically examining the interaction between sale prices and characteristics studio apartment characteristics. Research design, data, and methodology - We have analyzed data pertaining to 142 studio apartments in September 2010. A regression analysis model is constructed to test the significance of the variables in relation to the studio apartment sale prices per m2 in Seoul. Results - The age of the building is comparatively more significant than land use as the explanatory variable. Land price is the key variable affecting studio apartment sale prices and investors are willing to pay high implicit sale prices for locations that are associated with high land prices. Conclusions - The age of buildings explains a significant portion of the variability of the sale prices of studio apartment. Higher land prices result in higher sale prices for studio apartments. The older the buildings, the lower the sale prices of the studio apartments.