• Journal of the Korean Society of Tobacco Science
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• v.27 no.2
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• pp.235-243
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• 2005

The government continuously increases cigarette price to reduce the smoking rates. Opinions of cigarette makers and Ministry of Health and Welfare on the effect of cigarette price hike are sharply opposed. This dispute is important because there is possibility of additional increase of cigarette price by 500 won. Therefore, as an inquiry into existing studies for the effect of cigarette price hike on tobacco product, namely analysis of the effect of cigarette price hike consumption, we empirically analyzed the effect of cigarette excise tax hike through establishing improved analytic models considering time trend. As a result, it is substantiated that time trend in the effect of cigarette excise tax hike is certainly exist and early impact is heavy. However, the amount of cigarette consumption is recovered to the level of the average in 5 months. Since it is proved that the long term effect of cigarette price hike is immaterial, health authority should reconsider the plan of additional raising cigarette price by 500 won.

• The Journal of Fisheries Business Administration
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• v.53 no.4
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• pp.15-26
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• 2022

This paper analyzed the price stabilization before and after the fisheries outlook project for seaweed, flatfish, and abalone. First, the stabilization effect was analyzed through the price variation coefficient before and after the observation project. In terms of the variation coefficient, there was no effect that the price was stabilized through the seaweed outlook project. However, it can be seen that flatfish and abalone have a price-stabilizing effect. Second, as a result of analyzing the price stabilization effect through the improved ARMA-T-GARCH model, it was confirmed that seaweed was not statistically significant while flatfish and abalone had a price stabilization effect by statistically significantly reducing volatility of real prices after the introduction of the fisheries outlook project. Third, as a result of analyzing the factors affecting price stability, it was found that the price of seaweed was stabilized after the WTO, but the Japanese earthquake expanded the price volatility. In the case of flatfish, it was analyzed that the price stabilized after the WTO and the Great Japanese Earthquake. Finally, the price of abalone has stabilized since the WTO and the Great Japanese Earthquake.

• Journal of Distribution Science
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• v.14 no.10
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• pp.117-126
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• 2016

Purpose - Color is perceived to have an effect on humans' cognition and behavior because of its association with specific concepts. Since there are few studies linking color and price presentation, we investigated a constrained condition of consumers' regulatory focus and involvement. Research design, data, and methodology - We performed a 2 (color: red vs. black) × 2 (regulatory focus: prevention vs. promotion) × 2 (involvement: high vs. low) test of our hypothesis. The target product was a portable data storage device (USB) and data from 165 respondents were analyzed. Each condition had two stages. In the first, product information and price were presented. After reviewing the product information, respondents evaluated price attractiveness. In the second stage, respondents filled out regulatory focus and involvement questionnaires. The main variables were color, regulatory focus, and involvement. Therefore, we ran a three-way ANOVA (Analysis of Variance) to test our hypothesis. Results - When the price was red (vs. black), consumers perceived the red price as more attractive than the black price. However, this effect varied by situation. Specifically, in the low involvement condition among prevention-focused consumers, when the price was in red, price attractiveness was higher than when the price was in black. However, for promotion-focused consumers, there was no difference in the price color effect. In the high involvement condition, promotion-focused consumers showed stronger price attractiveness for the red price than the black price. However, the effect of price color diminished for prevention-focused consumers. That is, prevention-focused consumers did not reveal a different price perception between red versus black in the high involvement condition. Conclusions - This research contributes by academically linking the effects of color to price attractiveness, and focusing on the interaction of regulatory focus and involvement. When involvement is low, the effect of red disappeared for promotion-focused consumers, whereas the same happened for prevention-focused consumers under the condition of high involvement.

• Journal of the Korean Society of Industry Convergence
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• v.25 no.6_3
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• pp.1207-1219
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• 2022

「Act On Contracts To Which The State Is A Party」 stipulates that the "Construction Standard Production Rate" and "Construction Standard Unit Price" be used as the criteria for determining the estimated price of construction works performed by public institutions. In this regard, issues such as the application scope of the Construction Standard Unit Price, and the effect of budget reduction continue. However, due to the lack of quantitative data on the actual application of Construction Standard Unit Price, it is difficult to objectively evaluate various issues. In order to prepare data for objective evaluation of the Construction Standard Unit Price, this study analyzed the ripple effect of applying the Construction Standard Unit Price based on the bill of quantity. As a result of the analysis, the Construction Standard Unit Price ripple effect in the civil engineering part was 9.2%, and it was analyzed that there was a ripple effect of about 1.9% based on the civil engineering direct cost. In the construction part, the ripple effect was analyzed to be relatively high at 17%, but it was found to have a ripple effect of about 3% in the construction direct cost. Based on the total direct cost, the ripple effect was calculated as 2.2%. Based on the analysis results, it is possible to evaluate the effect of applying the Standard Market Unit Price, and it is expected to be used as basic data to solve issues. As a future study, it is necessary to additionally analyze the ripple effect by Standard Market Unit Price application range (over 10 billion, over 20 billion won, etc.) and delivery system type (comprehensive evaluation, qualification examination, technical bidding, etc.). In addition, it is necessary to study the appropriate ripple effect of the Standard Market Unit Price.

• Environmental and Resource Economics Review
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• v.11 no.4
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• pp.525-556
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• 2002

This paper investigates effect of gasoline price liberalization on price elasticity of gasoline demand. By using a model where a consumer optimizes her gasoline consumption and number of visits to gas station, we derive price elasticity of gasoline demand and its response to variation of size and frequency in price changes. It shows that price elasticity is decreased with increase in the size and frequency when the price rises. Since price liberalization increases the frequency but reduces the size, the effect of the liberalization on the price elasticity may not be determined. However, price liberalization can make the elasticity higher when the size reduction effect exceeds the frequency increase effect, which is consistent with empirical evidence provided by existing studies.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.165-173
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• 2021

This study examined the effect of Debt Equity Ratio (DER), Net Profit Margin (NPM), and Size on stock prices with company performance as measured by Return on Assets (ROA) as a mediating variable. The sample used is 136 manufacturing companies listed on the Indonesia Stock Exchange (IDX) in the 2014-2018 period. This research was tested using a Warp PLS statistical test tool to prove the proposed hypothesis. The results showed that DER has a significant negative effect on ROA and a significant positive effect on Stock Price. NPM has a significant positive effect on ROA as well as a significant positive effect on Stock Price. While Size has a significant positive effect on ROA but has no effect on Stock Price. ROA has a significant positive effect on Stock Price. ROA does not act as a mediating variable in the relationship between Size and Stock Price; however, ROA acts as a mediating variable in the DER and Stock Price relationship, as well as, in the relationship between NPM and Stock Price. The implications of the results of this study can be used by investors in making investment decisions, paying attention to the company's financial aspects, namely DER, NPM, Size, and ROA.

• Journal of Distribution Science
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• v.13 no.4
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• pp.55-64
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• 2015

Purpose - Multi-dimensional prices comprise multiple components such as monthly payments and a number of payments rather than a single lump-sum amount. According to previous studies, an increase in the number of price dimensions leads to a massive amount of cognitive stress resulting in incorrect calculation, and deterioration in the consistency of the price judgment. However, an increase only in the level of complexity of calculating multi-dimensional prices does not always result in a corresponding decrease in the accuracy of price evaluation. Since diverse variables could affect consumers' purchase-decision-making process, the results of price evaluation would be different. In this study, an empirical analysis was performed to determine how the accuracy of price evaluation varies depending on the extent of the complexity of price dimensions using product involvement and brand preference as moderating variables. Research design, data, and methodology - A survey was conducted on 260 students, and 252 effective responses were used for analysis. The data was analyzed using t-test, one-way ANOVA, and two-way ANOVA. In this study, six hypotheses were developed to examine the effect of product involvement and brand preference on consumers' evaluation effort of multi-dimensional prices. Results - As the number of price dimensions increased, accuracy of price evaluation appeared to be low in high involvement, as expected. However, it showed no differences in price evaluation effort when the level of complexity of calculating multi-dimensional prices is low. When a small number of price dimensions are presented in both cases of high and low involvement, accuracy of price evaluation is much higher in a weak brand preference. On the contrary, a strong brand preference enhances an accuracy of price evaluation only in case of low involvement when the number of price dimensions is increased. An interaction effect of product involvement and brand preference on consumers' evaluation of multi-dimensional prices did not exist irrespective of the level of complexity of calculating prices being high or low. Conclusions - When the number of price dimensions is small, consumers' effort for price evaluation shows almost no difference without the moderating effect of involvement, and a weak brand preference leads to a higher accuracy of price evaluation in an effort to make the best selection. No interaction effect of product involvement and brand preference was found except for a main effect of brand preference. When a price is composed of multiple dimensions rendering it more difficult to calculate the final price, the effort for price evaluation was expected to decrease only slightly in case of combination of high involvement and strong brand preference. This is because people have a higher purchase intentions and trust for that particular brand. However, the accuracy of price evaluation was much lower in cases of high involvement, and there was no interaction effect between product involvement and brand preference except for a main effect of involvement and brand preference, respectively.

• Journal of Distribution Science
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• v.20 no.1
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• pp.87-98
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• 2022

Purpose: This research investigates whether the existence of preannouncing price discount before purchase has an effect on after regret about purchasing and price fairness perception. Moreover, this paper examines whether the preannouncing effects on regret (or price fairness perception) are moderated by motive inference type (or brand trust). Research design, data and methodology: This experimental design consisted of total 8 between-subjects full factorial, which is completed by 2 (preannouncing price discount before purchase) × 2 (motive inference type) × 2 (consumer's brand trust level). Results: First, regret (or price fairness) differs depending on the presence/absence of preannouncing price discount before purchase and price discount motive inference type. Second, interaction effect of preannouncing price discount presence/absence before purchase and price discount motive inference type on regret (or price fairness) after purchase differs depending on motive inference type (or brand trust). Conclusions: Preannouncing external cue could decrease the possibility of consumers to regret and prevent consumers perceiving price change as unfair. Thus, corporations should sufficiently explain to consumers about preannouncing and specific reason of price fall in order to decrease regret caused by price fall and to increase price fairness perception from preannouncing effect.

• Journal of the Korean Society of Clothing and Textiles
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• v.22 no.3
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• pp.417-427
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• 1998

Price, one of the marketing 4p's, is a key decision variable affecting market share and the profitability of individual products. For consumers, since price is almost always known to and can be compared, it is one of the most important criteria when they make a purchase decision making. With the consumers' increasing consciousness for price due to economic recession, and the saturation of domestic apparel market, it is expected that the effect of price on consumers' decision making would be greater than ever. This study, the first in two part series, focuses on testing the validity of dimensions of clothing price using Lichtenstein et. at. (1993)'s suggestion. In addition, the effect of demographic variables on the perception of each price dimension was investigated. The subjects were 264 college students living in Seoul, Korea. The data were collected by self -administered questionnaires and analyzed by t-test, ANOVA, regression analysis and Lisrel confirmatory factor analysis. The result supported Lichtenstein et. al. (1993)'s suggestion. That is, consumers' perception of clothing price is not mini-dimensional, but has six dimensions: sale proneness, price mavenism, value consciousness, price consciousness, price -quality schema and prestige sensitivity. Demographic variables partially effect on the consumers' perception of each clothing price dimension. The level of monthly pocket money, however, has influence on all price dimensions. Based on these results, marketing implications for apparel manufacturers were suggested.

• Journal of the Korean Society of Clothing and Textiles
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• v.39 no.4
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• pp.613-624
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• 2015

This study examined: 1) the effect of store density on perceived crowding 2) the difference of perceived price benefit of sale by store density 3) the effect of perceived price benefit and store density on perceived crowding and 4) the effect of perceived crowding and price benefit on shopping behaviors. Store density and perceived crowding were categorized into social and spatial dimensions. Data were collected with 6 (high, medium, and low social and spatial densities) * 2 (sale and no-sale) between-subjects experimental designs. A total of 395 responses were analyzed. The results revealed that social density affected social crowding, but spatial density had no effect on perceived crowding. Price benefit of sale was not different by store density. The sale itself did not affect perceived crowding. Under the social density situation, perceived price benefit reduced spatial crowding and social crowding showed a positive effect on purchase behavior while spatial crowding had a negative effect. However, the most important effect on purchase behavior was price benefit. The study implies that social density (not spatial density) is important for consumer behavior and retail strategies.