• 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.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.26 no.7A
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• pp.1275-1283
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• 2001

The purpose of this paper is to test whether prices of mobile communication service reflect their varying degrees of call quality, controlling for other service attributes. As, in fact, service is intangible goods difficult to measure its value, this paper makes use of econometric model, hedonic price analysis. Hedonic price analysis, has ever been applied in public or environmental economics, is employed and produces estimates of the prices (or the contributions toward the total price) for each characteristic. This paper applied hedonic technique to the value measurement of a service property for the use of Korean mobile communication. This paper uses actual transaction prices of mobile communication service to determine whether or not the market functions in pricing call quality of mobile communication service. Finally, this show that the willingness to pay of consumer increases as call quality increases and so market makes prices on call qualities. Thus, major concern in this paper is about value measurement o service quality, and also suggest of the possibility to determine call quality value (or price) of mobile communication service.

• Korean Journal of Organic Agriculture
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• v.30 no.2
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• pp.255-277
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• 2022

This study investigated consumers' perception of fruits and vegetables grown in smart farms to stimulate the sale of agricultural products grown in smart farms. To this end, a survey was conducted on 1,050 consumers. The main results are as follows. First, 58.6% of respondents knew about smart farms, and they perceived fruits and vegetables grown in smart farms as more valuable than those grown in conventional facilities. In the detailed values, values of safety and environmental damage reduction were perceived to be of greatest value among five values. Second, as a result of investigating the importance of smart farm cultivation information in comparison with price, the most respondents emphasized both smart farm cultivation information and price information, and smart farm cultivation information was compared with price information. Cases were investigated to be more important with slight differences. Third, 41.4% of respondents had the price premium payment intention for fruit and vegetables grown in smart farms. Fourth, as a result of analyzing variables affecting the premium intention, the higher the health value among five values was recognized and the more important the smart farm cultivation information was, the higher the premium payment intention was.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.6 no.9
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• pp.81-95
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• 1983

The author has intended to seek for the usefulness of price-level change accounting information through financial statements of general price level. The accounting information obtained from financial statements of general price level, must be useful to the reasonable judgment of financial statement users or to the economic decision making, This thesis may be summarized as follows : 1. Financial statements arranged by historical cost accompany many problems as accounting information. In other words, at the time of inflation, they have little usefulness as accounting information. 2. In order to correct the little usefulness of the financial statements arranged by historical cost, the author examined this matter centering around FASB statement No. 33. 3. The price level change accounting eliminates the contradiction of the accounting information obtained from the financial statements arranged by historical cost. 4. In the general price level change accounting, money value is presumed to change according to the level of general price and, then, the money value for goods must be revised. 5. In the general price level change accounting, the division between monetary items of asset and debt, and non-monetary items, is important. 6. The general price level change accounting based upon historical cost accounting, has objectivity as accounting information like the cost basis accounting and larger usefulness than the cost basis accounting. In conclusion, the price level change accounting increases its usefulness as accounting information and, therefore. (1) the information on the general price level change accounting is desirable to be disclosed as supplementary information for the traditional financial statements, and (2) the general price level change accounting should be induced to the listed Companies in Korea under continuing inflation for improving the usefulness of financial statements as accounting information.

• The Journal of the Korea Contents Association
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• v.14 no.12
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• pp.924-934
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• 2014

In the last 10 years the digital music contents market has grown rapidly. However digital music contents product and services are not managed with product planning and price policy considered customer attitude and digital music contents values. This study is to define the value properties of digital music contents services based on streaming and download as genre, price, sound quality, and usage appliance, and suggest the strategic market price and service composition of digital music contents service by customer attitudes about the value properties. The research used the conjoint analysis methodology based on the hedonic price model and collected 405 questionaries by users of Korean digital music contents services to the analysis. Hence 'sound quality' in download platform, and 'appliance' in streaming platform were the elements to evaluate the customer attitude. The results present the music contents productions and companies have to provide the differentiated services and price by the value properties of user preference in the market.

• Journal of Korean Academy of Nursing Administration
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• v.7 no.2
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• pp.205-221
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• 2001

It will become more and more popular to use the long-term care facilities and home health care services with the chronic disease increasing. It depends on how much the consumers would pay and purchase the services. They might get more benefits from that kind of services than from ordinary hospitalization. So far, the study of determining the medical service price has focused most often on the efforts from the providers' view. But it must be reasonable to include the consumers' value for the service. This study was performed to assess WTP(Willingness to Pay) for home health care service in order to apply to the determination of nursing price in a reasonable manner. In this study, respondents were asked if they would pay for the service's intangible benefits under the four different types(open-ended minimum WTP, open-ended maximum WTP, bidding WTP, referendum WTP). The contingent valuation method is a potentially useful tool in understanding how people value the benefits of the service. As a result, average open-ended minimum WTP was W16,015 per day among 65 respondents. Average open-ended maximum WTP was W29,154 per day among 65 respondents. Average bidding WTP was W26,300 per day among 65 respondents. Average referendum WTP was W22,200 per day among 70 respondents. The results of regression analyses were also consistent with theoretical prediction, e.g., increasing WTP with consumers' value for the service, state of patients, and household income. This study demonstrated that it was more reasonable to consider the consumers' value in determining the services' price. In addition, a further study is needed to test the validity of this CV method and to determine a proper nursing price based on the consumers' view.

• Journal of the Korean Home Economics Association
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• v.40 no.6
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• pp.69-83
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• 2002

This study examined the effects of demographic variables on buying behavior, and investigated buyers'perceived value and risk perception of the internet shopping mall. The sample was collected by a department store in Daegu, and it included 1,732 individuals using the Cyber Mall. Research methods used in this study were simple statistics, t-test and ANOVA. The buyers perceived values through the internet shopping mall were classified into five categories-price, time, convenience, intrinsic attributes, reliability and the risk perception also was classified such as the overall purchasing process, quality of products, exposure of the personal information, delivery system, refund and exchange. The major findings of this study were 1) most important categories affecting their buying behavior were the value of convenience and following values in order were time, price, reliability, intrinsic attributes. 2) the risk perception were overall purchasing behavior, quality of products, exposure of personal information, delivery, and refund & exchange in order. 3) age of buyers, buying experience on the internet shopping mall, and gender were the important factors affecting the buyers'perceived value and risk. 4) the study also, showed that according to the variety of products, buyers perceived the value and risk differently, for example, the price was the most important perceived value in case of food product. The implication of the study is to strategically suggest how to enhance the buyers'perceived value and diminish perceived risk of different products.

• Journal of the Korean Operations Research and Management Science Society
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• v.10 no.1
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• pp.31-40
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• 1985

When an economy has institutional price constraints the relationship between market prices and shadow prices is not yet fully investigated. A pure consumption economy is considered where market prices guide the consumption behavior and shadow prices measure the social value of resources. In this case we show that if the utility function is additively separable there exists a complementarity relation between the difference of the market price and the shadow price and the difference of the market price and the regulated upper (or lower) bound.

• The Journal of the Korea Contents Association
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• v.22 no.4
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• pp.301-313
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• 2022

This study aims to investigate the causal relationship between variables of UTAUT2 model and the acceptance intention by Netflix and Wavve intention to adopt and acceptance intent by plan package. The results indicate that (1)First, the intention of Netflix adoption was influenced by performance expectancy, effort expectancy, hedonic motivation, price value, and habit; (2) the intention of wave adoption was influenced by performance expectancy, social influence, price value, and habit. (3)in the acceptance intention of Netflix's acceptance intent by plan package, price value and habit, performance expectancy and habit influenced on the acceptance intent of premium plan, and did not affect the standard plan; (4) in the acceptance intention of the basic plan by the Wavve plan, the price value had a negative effect on the acceptance intention of the basic plan, and the habit had a positive effect.The social impact on the acceptance intention of the standard rate plan, the price value and habit of the acceptance intention of the premium rate plan were affected.

• Journal of Global Scholars of Marketing Science
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• v.10
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• pp.91-110
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• 2002

The purpose of this research is as follows; First, the reference price ads are to investigate how the price cues and prior knowledge of service products have an effect on consumers' perception by the type of information. Second, this study suggests some marketing strategy guides to service marketing managers for price promotion strategy. To achieve these research goals, the hypothesis was established through reviewing the previous studies and the data collected from the experimental design. The experiment of this study was a 2$\times$2$\times$2 among the subject factorial design in which the factors were present in price cue presentation (presentation/non- presentation), the level of prior knowledge(high/low), and the type of information(positive/negative). The major findings of this research can be summarized as follows; First, there are some significant statistical differences in the consumers' perception value by level of price cues(hypothesis 1). Second, there are some significant statistical differences in the consumers' price-quality perception by level of price cues(hypothesis 2). Third, there are some significant statistical differences in the price-quality perception by the level of prior knowledge and the type of information(hypothesis 3).