• Korean Journal of Construction Engineering and Management
• /
• v.19 no.4
• /
• pp.102-110
• /
• 2018

The study analyzed the effects of the floor plan characteristics on the apartment price under the national housing size in 3 Gangnam districts for decades, the primary apartment markets in Korea. The analysis showed that the storage spaces such as kitchen, warehouses and dressage rooms have a positive effect on the price. Especially, the highly opened space with three-side open plan and the one with the unified type of livingroom, diningroom and kitchen have shown the strong effect on the price. For the kitchen spaces, the I-shaped kitchen tends to be more expensive while a centered living room has a positive effect on the price. These findings have an academic significance as the direct effects of plan characteristics on price has been examined unlike prior research focused on the analysis of trend, basic statistics, and satisfaction level. It is noteworthy that these research finding has identified the productive implication for the future floor plan design and pricing and also be implemented in the purchasing decision making by buyers in the housing market.

• International Journal of Advanced Culture Technology
• /
• v.8 no.3
• /
• pp.172-185
• /
• 2020

To explore the impact of restaurant service quality for foreigners in South Korea on customer satisfaction, customer trust, and loyalty from three dimensions: quality of physical environment, food quality, and service quality and the influence of perceived price on satisfaction and loyalty, a survey was conducted by collecting 202 valid questionnaires and Amos 23 was used to examine the relationships between variables. The results show that the quality of physical environment, food quality, and service quality have significant positive effects on customer trust, but only food quality has a significant effect on customer loyalty and all three have no significant effects on customer satisfaction. In addition, customer trust has a significant positive effect on customer satisfaction and customer loyalty, but the effect of customer satisfaction on loyalty has not been verified in this study. At the same time, perceived price has a significant positive effect on customer satisfaction, but no significant effect on customer loyalty. Then the study examined the moderating effect of gender by using the SEM multi-group analysis method, founding that there are no significant differences between male and female on the impact of the three dimensions of restaurant service quality on customer satisfaction, and no significant differences between male and female on the impact of perceived price on customer satisfaction and customer satisfaction on loyalty, meaning that gender's moderating effects are not valid. These conclusions of this study are useful for restaurant operators to improve the quality of the physical environment, food quality and service quality, effectively improve customer trust, and thus customer satisfaction and loyalty.

• The Journal of Fisheries Business Administration
• /
• v.46 no.1
• /
• pp.75-91
• /
• 2015

With the increasing improvement of living standard, people pay more attention to the quality and security of their food. There is an increase in the consumption of aquatic products and a vast prospect of its trade. Fisheries as a major one of the traditional industries in China have significant price advantages and natural resources. However, marine pollution in China is more and more serious and the expecting of aquatic products has been seriously influenced by green barriers in the recent years. This paper tries to examine the effect of Chinese marine pollution on export of aquatic products in China. This paper utilizes cointegration test to estimate long-run equilibrium between marine pollution and fisheries products export. The results indicate that real exchange rate and income variable have positive effects and fish price has negative effect on China's fisheries export to Korea. However, marine pollution variable has no statistically significant effect on dependant variable. And according to the result of China's fisheries export to Japan, exchange rate has positive effect and both fish price and marine pollution variable have negative effects on export. Lastly, marine pollution and income level have effects on dependant variable in the case of Hong Kong, but exchange rate and price variable have no significant effect on aquatic products export from China to Hong Kong. In a word, marine pollution of China is a serious problem and it has negative effect on Chinese export of aquatic products.

• Journal of Distribution Science
• /
• v.14 no.6
• /
• pp.17-26
• /
• 2016

Purpose - The purpose of this study is to measure the effect on the attributes for store selection and Korean government regulations for large retailers on consumption emotion. Research Design, Data, and Methodology - Using SPSS ver.22, factor analysis & Cronbach's alpha, correlation, and regression test were performed. The total of 287 questionnaires were used for the analysis Result - Familiarity, perceived price, and perceived image have a positive effect on consumption emotion, but perceived quality & service did not. The Consumption emotion had a positive effect on traditional market revisit intentions. Retail regulation preference has a mediate effect between consumption emotion and familiarity & perceived price. Retail regulation preference also has a mediate effect between consumption emotion and traditional market revisit intension. Conclusion - Relationship marketing with sincerity is very important to keep familiarity, perceived price and image. People's consumption trend was changed due to dual career couple and heavy traffic jam in big cities. Therefore, a retail regulation cannot be a right solution for revitalizing traditional markets. So we need to find out an actual situation and design a win-win strategy between large retailers and traditional market.

• Journal of Wellbeing Management and Applied Psychology
• /
• v.5 no.3
• /
• pp.7-17
• /
• 2022

Purpose: With the introduction of Web 2.0, the advent of smartphones, and the recent outbreak of COVID-19 worldwide, interest in online shopping has soared. In an online shopping environment, the desire for impulse buying increases compared to offline shopping. Research design, data and methodology: In this study, three marketing stimulating factors such as product factor, price factor, and facilitating factor were selected which affect impulse buying for clothing and accessory products in the Korean online shopping environment. The mechanism of causal relationship among them, and the role customer value between marketing stimulating factor and impulse buying was analyzed. Results: The analysis results are as follows. First, the product factor had a significant positive effect on consumer value and impulse buying. Second, the price factor also had a significant positive effect on consumer value and impulse buying. Conclusions: Although the facilitating factor had no significant influence on consumer value and impulse buying, the indirect effect through consumer value was positively significant. Consumer value had a positive mediating effect on impulse purchase in the order of price factor, product factor, and promotion factor.

• Korea Trade Review
• /
• v.47 no.4
• /
• pp.177-195
• /
• 2022

This study analyzed the volatility spillover effect between international non-ferrous metal futures markets using the BEKK-GARCH model. Statistical data are futures price data of copper (CU), aluminum (AL), nickel (NI), tin (SN) from Shanghai Futures Exchange (SHFE) and London Metal Exchange (LME) from April 1, 2015 to December 31, 2021. Combining the research results, first, in the case of copper, aluminum, and nickel, it was found that there was a two-way volatility spillover effect between the Shanghai and London markets, and the international influence of the London market was greater. Second, in the case of the tin, it was found that the Shanghai market has a volatility spillover effect on the London market from stage I, and it is strengthened in stage II. Third, in the case of nickel, it was found that there was a two-way volatility spillover effect in the first stage, but in the second stage, the London market had a unidirectional volatility spillover effect with respect to the Shanghai market. This study confirmed that China's influence in the international non-ferrous metal futures market is gradually increasing. In addition, it suggested that international investors can engage in arbitrage and hedging using China's non-ferrous metal futures market.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.33 no.1
• /
• pp.1-17
• /
• 2008

Market segmentation is a key strategic factor in increasing the expected profits, especially in the practice of revenue management. A manufacturing firm should manage both manufacturing quantities and pricing decisions over its segmented markets to maximize the expected profits, setting different price for each different segment. Also, market segments should be kept separate in order to prevent demand leakages between different market segments. In fact, even though the markets for different products are firmly segmented, it is not easy to keep separate segmentation because many products might be substitutable by customer buying behavior. That is, customers respond to price changes by purchasing other market's products instead of purchasing the originally requested products, which causes demand substitution effect ; This kind of substitution is referred to as price-driven substitution. Therefore, decisions on optimal prices should take into account the differences in customers' valuation of the different products. We consider a deterministic model for deciding optimal prices in the presence of price-driven substitution, and we compare both symmetrical-and asymmetrical-type demand substitutions between two segmented markets. The objective of this study is to develop analytical and numerical models to examine the impact of price-driven substitution on the optimal price levels and the total expected profits.

• The Journal of Asian Finance, Economics and Business
• /
• v.4 no.2
• /
• pp.19-23
• /
• 2017

It is undisputable that crude oil and its price fluctuations are major components that affect most of the countries' economies. Recent studies have demonstrated that beside the impact that crude oil price fluctuations have on common macroeconomic indicators like gross domestic product (GDP), inflation rates, exchange rates, unemployment rate, etc., it also has a strong influence on stock markets and their performance. This relationship has been examined in a number of settings, but it is yet to be unraveled in the Omani context. Accordingly, the main purpose of this study is to examine the possible effect of the oil price fluctuations on stock price movements. The study applies Toda and Yamamoto's (1995) Granger non-causality test on the daily Oman stock index (Muscat Securities Market Index) and oil prices between the period of 2 January 2003 and 13 March 2016. The results indicated that the oil price fluctuations have a significant impact on stock index movements. However, the stock price movements do not have a significant impact on oil prices. These findings have significant implications not only for the Omani economy but also for the economy of similar countries, particularly in the Gulf Cooperation Council (GCC) countries. The latter should carefully consider their policies and strategies regarding crude oil production and the generated income allocation as it might potentially affect the financial markets performance in these countries.

• The Journal of Asian Finance, Economics and Business
• /
• v.4 no.4
• /
• pp.27-37
• /
• 2017

This study examines the behaviour of staple food price using Multivariate BEKK-GARCH Model. Understanding of staple food price behaviour is important for determining the unpredictability of staple food market and also for policy making. In this paper, we focus on the commodity prices of sugar, rice, soybean and wheat to examine the volatility behaviour of those commodities. The empirical results show that the own-volatility spillover are relatively significant for all food prices. The own-volatility spillover effect for sugar price is relatively large compared with the volatility spillover of other staple food commodities. The findings also highlight that the price volatility of wheat increases during food crisis more than it does when the condition is stable. Also, the own-volatility of rice and wheat in the period of the food crisis is significant and higher compared to the period before food crisis indicates that the past own-volatility effects during food crisis are relatively more difficult to predict because of the uncertainty and high price volatility. Policy recommendations that can be proposed based on the findings are: (1) a better trade agreement in food commodity trade, (2) lower the dependence on wheat importation in Indonesia, and (3) reliable system to minimize food price volatility risks.

• Korean Management Science Review
• /
• v.32 no.3
• /
• pp.55-70
• /
• 2015

The main objective of this study is to investigate the moderating roles of the competitor's pricing strategy and the degree of consumer's risk-aversion on perceived risk and perceived benefit in responding to price increases and package downsizing. Based on Prospect Theory, several prior researches find that consumers perceive increased price as more loss than package downsizing and perceive package downsizing as more benefit than increased price. We extend these behavioral economics approach using the reference effect of competitor's pricing strategy. We focus on consumer heterogeneity on risk-aversion, measure the degree of consumer's risk-aversion, and divide the consumers into two groups of high levels of risk-aversion vs. low levels of risk-aversion. We find that the firm's pricing strategies of both price increases and package downsizing do not significantly influence the perceived benefit for relatively low risk-aversion consumers. We find that when the firm reduce the package size, relatively high risk-aversion consumers perceived more benefit and had higher purchase intention compared to price increases. We also find that the competitor's pricing strategies do not significantly influence the consumer's response for relatively low risk-aversion consumers. For relatively high risk-aversion consumers, they perceived more loss when the firm has different pricing strategy from the competitor's.