• Korean Business Review
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• v.21 no.2
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• pp.1-16
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• 2008

This paper investigate the volume-volatility and volume-return relationship in the Korean Treasury Bond futures market using daily price and volume data categorized by three trader type i.e. individual investor, institutional investor and foreign investor over the period of October 1999 through December 2005. Major results are summarized as follows: (i) The effect of volume on return was not different across the trader type. (ii) The effect of volume on volatility was not unidirectional across the type of investor. While unexpected sell of individual investor has positive effects on volatility, negative effects in the case of institutional investor. (iii) We cannot find the evidence of asymmetric response of volatility to shock in trading volume or net position. This result differs from that of Korean Stock Price Index 200 futures market which showed strong positive asymmetry. Finally, some limitations of this paper and direction for further research were suggested.

• CRM연구
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• v.2 no.1
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• pp.15-32
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• 2009

Companies consider customers as an equity, which is expected to increase customer loyalty. However, customer loyalty does not linearly increase in real world by the customer equity always. This research investigates a mediating variable which influence the relationship between customer equity drivers and customer loyalty. We focus on customer value as a customer equity driver which is the most basic factor among customer equity drivers. We examine that online trust as a mediator between the customer value and customer loyalty in on online shopping mall context. Customer value consists of perceived convenience, quality, and price. Findings indicate that online trust mediates the relationship between customer value and customer loyalty. Especially, online trust perfectly mediates the perceived convenience and the perceived quality. The perceived convenience influences online trust most significantly and perceived quality and perceived price are following in the order of strength. Our results implicate that online trust is an important mediator of the relationship between customer equity and customer loyalty in online shopping mall context and need to be managed as a customer relationship management index to increase customer loyalty. In addition, perceived convenience is the most important factor to increase online trust in matured online market.

• Korean Journal of Community Nutrition
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• v.18 no.4
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• pp.365-371
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• 2013

High intakes of sodium may increase the risk of hypertension or cardiovascular diseases. According to the 2010 Korea National Health and Nutrition Survey, the average intake of sodium was 4,878 mg/day with salt, kimchi, soy sauce, fermented soybean paste and Ramyeon being the five main sources of sodium. In order to identify solutions to reduce the intake of sodium, we investigated the intake patterns and eating behaviors of Ramyeon among 347 college students (male 146, female 201) using survey questionnaires. The average age of study subjects was 23.7 years for males and 20.5 years for females. The average Body Mass Index ($kg/m^2$) was 21.9 for males and 20.1 for females. The average frequency of Ramyeon intake was 2.0 times/week. The main reason for eating Ramyeon was convenience (56%), followed by good taste (27%), low price (11%) and other reasons (9%). The criteria for choosing Ramyeon were taste (72%), convenience (14%), price (7%), nutrition (1%), and the other factors (2%). Males' average intake of Ramyeon soup (61%) was higher than that of the females (36%). The estimated intake of Ramyeon soup by survey showed a positive correlation with the measured intake of Ramyeon soup. Sodium contents of Ramyeon were measured separately for the noodles and the soup, which were 1,185 mg/serving and 1,148 mg/serving each. Therefore, the amount of sodium intake can be reduced if students eat less Ramyeon soup. Also, we observed that dietary behaviors and soup intakes of Ramyeon between the sexes were different. Appropriate nutritional education for proper eating habits may help decrease the intake of sodium.

• The Journal of Industrial Distribution & Business
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• v.9 no.5
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• pp.63-72
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• 2018

Purpose - This work analyzes, in detail, the specification of vector error correction model (VECM) and thus examines the relationships and impact among seven economic variables for USA - balance on current account (BCA), index of stock (STOCK), gross domestic product (GDP), housing price indices (HOUSING), a measure of the money supply that includes total currency as well as large time deposits, institutional money market funds, short-term repurchase agreements and other larger liquid assets (M3), real rate of interest (IR_REAL) and household credits (LOAN). In particular, we search for the main explanatory variables that have an effect on stock and real estate market, respectively and investigate the causal and dynamic associations between them. Research design, data, and methodology - We perform the time series vector error correction model to infer the dynamic relationships among seven variables above. This work employs the conventional augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root techniques to test for stationarity among seven variables under consideration, and Johansen cointegration test to specify the order or the number of cointegration relationship. Granger causality test is exploited to inspect for causal relationship and, at the same time, impulse response function and variance decomposition analysis are checked for both short-run and long-run association among the seven variables by EViews 9.0. The underlying model was analyzed by using 108 realizations from Q1 1990 to Q4 2016 for USA. Results - The results show that all the seven variables for USA have one unit root and they are cointegrated with at most five and three cointegrating equation for USA. The vector error correction model expresses a long-run relationship among variables. Both IR_REAL and M3 may influence real estate market, and GDP does stock market in USA. On the other hand, GDP, IR_REAL, M3, STOCK and LOAN may be considered as causal factors to affect real estate market. Conclusions - The findings indicate that both stock market and real estate market can be modelled as vector error correction specification for USA. In addition, we can detect causal relationships among variables and compare dynamic differences between countries in terms of stock market and real estate market.

• Journal of Korean Society of Forest Science
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• v.95 no.4
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• pp.415-422
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• 2006

This study aims for suggesting an idea to plan the expansion of consuming environmentally friendly chestnuts by statistically analyzing the types and intentions for consumer's purchase of environmentally friendly point of production and export side. For this, the survey was performed on 650 housewives living in Seoul, new metropolitan cities such as Ilsan, Bundang, where is the central place of main consumption. As a result, it is more effective to plan the expansion of consumption as the activity of consumption promotion for environmentally friendly chestnut focused on specific target such as 3~4 members of family and 30~40's age of young housewives having with the academic background of above university graduate, large income of average monthly payment with over 4.5 million won and consumers who have experience to purchase environmentally friendly forest products. In order to achieve this goal, it is require to secure the stabilized dealer for the environmentally friendly forest products as well as to establish the appropriate price reflected by the value and quality of environmentally friendly chestnut which the consumers recognize. It is estimated that this price can be decided on the basis of willingness to pay for the environmentally friendly chestnut from the index which comes from the integrated and concentrated consumers' expectation as this study surveyed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.4
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• pp.155-168
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• 2018

This study singled out 30 smart car features and surveyed 250 respondents. Assuming that the relationship between fulfillment of a feature or a customer need and the satisfaction with that feature is not necessarily linear, this study was conducted using Kano's method. Two devices, Timko Deviation(TD) and Kano Distribution Index(KDI), were devised to help evaluate resulting Kano table quantitatively. Previous research based on Kano's original framework showed the limit to the analysis of new or unfamiliar features: more than 85% of the features surveyed turned out to be either Attractive or Indifferent attributes. This study attempted a new empirical approach by applying customer experiences, price conditions, and customer self-stated importance. The results showed that customer experience of the surveyed features affected the overall satisfaction level, signifying that Kano's method should be conducted with care when analyzing emerging technologies such as smart cars. It is expected that this study would be utilized for better understanding of the perception and trends of customers regarding new technologies. This study also suggests a new approach to the analysis of customer requirements by providing price conditions.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.2
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• pp.791-800
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• 2013

Needs for developing a better way of cost estimating process for public construction projects have been widely recognized. Those needs are mainly from the early phases of the project through the construction life cycle due to the its importance to the control process. In contrast to the traditional estimating method based on unit-price references, this research utilized this following process. The first step is analyzing the real cost data from actual cost activities (2000~2010) about the statement of P.S.C(Prestressed Concrete) Box Girder Bridge. The collected data was broken into four categories based on technical construction methods such as I.L.M(Incremental Launching Method), M.S.S(Movable Scaffolding System), F.S.M(Full Staging Method), and F.C.M(Free Cantilever Method). The second, actual design documents including the actual cost estimating documents, drawings and specifications were carefully reviewed to cluster the cost itemized statement from four categories. It was also attempted to seek the proper breakdown of standard works that are responsible for more than 95 percentage in each categories in terms of its cost. The third, this research comes up the index for standard unit materials and unit price of standard work and develops the approximate estimating model applying for the specification(length and breadth of bridges) per square area that the user takes as well as suggests the practical application plan within the original time alloted.

• Clean Technology
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• v.25 no.3
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• pp.263-272
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• 2019

Air pollutants have a high impact on everyday life as well as on human health; therefore, new technologies such as low-emission vehicles and add-on systems for air pollutant reduction are needed for our society. However, the environmental benefits and costs of those technologies are not taken into account in existing economic feasibility assessments, which is a barrier that needs to be overcome for green technology to achieve wide dissemination and fast penetration in the market. Thus, this study develops a methodology to assess the economic feasibility of an air pollutant reduction technology by taking into account the social costs from air pollutants and carries out a case study to validate the methodology. Because the social unit costs for air pollutants have not been evaluated yet in South Korea, the methodology uses the social unit costs evaluated for the European Union that are then converted to those for South Korea based on the measuring criteria for vehicle emission gases, parity purchasing price, foreign currency exchange rate, and customer price index. The social unit costs for South Korea are used to assess economic feasibility. A case study was performed to assess the economic feasibility of a dual fuel system using diesel and compressed natural gas by taking into account social costs from air pollutants as well as economic costs. This study could contribute to assessing the true economic feasibility of green technology, projects, and policy related with air pollutant reduction.

• Korean Journal of Construction Engineering and Management
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• v.20 no.3
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• pp.3-11
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• 2019

The construction of a facility is an act whereby infrastructure such as roads and railways and other facilities such as housing and office spaces are constructed, and due to the characteristics of the relevant industry where such construction is carried out in a custom order method, it requires a long period of time mostly. While the construction is carried out over a long period of time, fluctuations in the price of raw materials required for the construction occur. Therefore, the cost of the construction also fluctuates inevitably. The fluctuation of the construction cost meshes closely with the profit of a constructor and the efficiency of government spending. Therefore, it is necessary to maintain the construction cost at a reasonable level by adjusting the construction cost rationally in order to secure the required construction quality and spend the budget efficiently. The buffer system for solving such problem is the contract amount adjustment system by fluctuations in prices (Escalation/De-Escalation). In this study, the method combining the escalation method based on the item adjustment method was suggested for an efficient contract amount adjustment method. In addition, it is proposed that there be an investigation and codification of matters not applied to government acts and regulations on contracts related to the adjustment of fluctuations in prices legally.

• Journal of Korea Port Economic Association
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• v.39 no.1
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• pp.115-129
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• 2023

This study analyzed the risk spillover of BDI on shipping company stock prices through the Copula-CoVaR method based on daily data from January 4, 2010, to October 31, 2022. The main empirical analysis results and policy implications are as follows. First, copula results showed that there was a weak dependence between BDI and shipping company stock prices, and PAN, KOR, and YEN were selected as the most fitting model for dynamic Student-t copula, HMM was selected as the rotated Gumbel copula, and KSS was selected as the best model. Second, in the results of CoVaR, it was confirmed that the upside (downside) CoVaR was significantly different from the upside (downside) VaR in all shipping companies. This means that BDI has a significant risk spillover on shipping companies. In addition, as for the risk spillover, the downside risk is generally lower than the upside risk, so the downside and upside risk spillover were found to be asymmetrical. Therefore, policymakers should strengthen external risk supervision and establish differentiated policies suitable for domestic conditions to prevent systematic risks from BDI shocks. And investors should reflect external risks from BDI fluctuations in their investment decisions and construct optimal investment portfolios to avoid risks. On the other hand, investors propose that the investment portfolio should be adjusted in consideration of the asymmetric characteristics of up and down risks when making investment decisions.