• Korean Management Science Review
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• v.33 no.4
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• pp.65-75
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• 2016

We study limit pricing in a price-based duopoly market under asymmetric information on the demand state. An incumbent, who is a monopolist in the initial period, has complete information on the size of a market, while a potential entrant only knows it partially. After observing the sales price of the incumbent in the first period, the entrant decides whether to enter a duopoly market and the sales price if she chooses to. We present a separating perfect Bayesian equilibrium, which indicates that limit pricing can deter the entry of a potential entrant under price competition when there is information asymmetry about the demand state.

• Journal of East Asia Management
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• v.3 no.1
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• pp.25-40
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• 2022

This study investigates the effect of labor union and its power on information opacity. Given that the information opacity ultimately leads to the stock price crash, this study examines the relationship between labor unions and future stock price crash risk. Further, by assuming a strike by labor union as the actual power of the unionization in firms, whether labor union's power subrogated by the activity (i.e., a strike) makes a significant difference in the likelihood of future stock price crash between unionized firms is also examined. The work place survey data provided by Korea Labor Institute is used to test the hypotheses. The data is for the periods of 2004 - 2012 on firms listed on Korea Stock Exchange and KOSDAQ. The results show that while labor unionization has a positive impact on future stock price crash risk, on which labor union's power has a negative impact. This means that the existence of labor union itself might facilitate firm's information to be opaque by tolerating manager opportunism, while its power mitigates the managerial opportunism, which leads to lower future stock price crash risk. This study adds to the literature on the role of labor unions as nonfinancial stakeholders and its power in accounting environment, and also on the determinants of stock price crash. It is also valuable to examine the unions' role in terms of the economic consequences of both presence and power of the labor unions.

• Journal of Families and Better Life
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• v.7 no.1
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• pp.15-25
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• 1989

The purpose of this study is to examine the factors affecting the consumer's search for information and the relationship between the amount of search and the final price paid. The model indicates the demand for search is affected by the market price of each durable good purchased, the tim available for search, family income, direct cost of search, the initial stock of information, effectiveness of search, and shopping attitudes. The final price savings are a function of search, price of dispersion in the market, the initial stock of information, and effectiveness of search. Data from the Pane Study on Consumer Decisions and Asset Management were used for the empirical testing of the theoretical model. The amount of information search as dependent variable is represented by two different measures, the level of discussion with others and the number of stores visited. The amount of discussion with others depends mainly on the respondent's shopping attitude. The higher the wife's desire to search, the higher the degree of husband's comparison shopping, the less the husband's perception of price-quality relationship, the higher the level of discussions with others. The number of stores visited depends on the average market price of product purchased and the level of family income. The higher the average market price and he higher the level of family income, the greater the number of stores visited. The final savings depend upon the level of information search. The greater the number of store visited, but the less the purchase is discussed with stores, the higher the final savings are.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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• v.26 no.3
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• pp.293-301
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• 2008

The purpose of this study is price determination for KLIS (Korea Land Information System) which Korea government established. For this purpose, I analyzed cost accounting and made the KLIS selling price according to selling amount, recovery rate and information volume. In case of recovery rate, the cost was expensive but, in case of information volume the cost was cheap. So, the price determination for KLIS should be resonable according to information volume considering GIS revitalization.

• Journal of information and communication convergence engineering
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• v.3 no.3
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• pp.152-156
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• 2005

Korea-China with the fastest speed Internet Broad Band, has achieved many progresses on Internet shopping. Especially, Korea has made a great effort on comparison website construction. A research prototype design and exploratory analysis are presented to assess success factors and impacts of Korea and China price comparison websites. For different user groups, the relationships between the characteristics of technology and tasks, usage, and organizational impacts were analysed. It shows us how to improve the applicability of fit-viability of the price comparison web sites in China after analysis. These results indicate a need for simple but highly functional price comparison applications. And we designed a sample model to include an interactive web service system for price comparison sites that complement existing information systems. This paper provides a basis for further research aiming to improve the design and management of business applications based on emerging technologies of web service and browser for information management.

• Journal of Distribution Science
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• v.16 no.4
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• pp.83-88
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• 2018

Purpose - This study conducts an empirical analysis on gasoline pricing of Korean retail gas stations focusing on spatial effects. Unlike previous studies, the study uses an official land price for a proxy of the importance of location, and also allows the spatial effects from other competing gas stations as well. Research design, data, and methodology - In collection of data, we obtain more abundant data than those of previous studies. The gasoline prices used in the study are 909,084 observations as daily data from January 1 to July 31 of the year 2016. A proxy for the land price is collected by linking official public land price data with address information on each gas station. For the estimation, the study employs the Panel Spatial Dubin Model to make the best use of the collected location information. Results - As expected, spatial properties of gas stations have significant effects on the gasoline price. As the price per square meter increases by 100 thousands won, the price of gasoline rises 9 won per liter. Among other characteristics, the price increases by 16 won per liter if the station has a convenience store, and about 5 won if it has a car wash service. Gasoline price in Singapore accounted for 26% of variations in domestic gasoline prices. SK Energy and GS Caltex are the top brands in terms of price. The study also finds prices and other important properties of competing gas stations have significant effects on others' prices. Prices of competing gas station have a positive relationship with those of others. If a competing gas station raises the price, the gas station also raises the price, and lowering the price lower the price. Among brands, GS Caltex has the greatest downward pressure on nearby gas stations. Conclusions - The study confirms that location value of gas stations affect their gasoline prices, and the prices of the competing gas stations also have a significant effects on their prices. It suggests that the prices in the competing retail areas tend to be synchronized with each other.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.833-843
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• 2021

This research examines the impact of audit quality on the extent to which firm-specific information is integrated with a firm's share price - which is determined inversely using stock price synchronicity. The study sample consists of non-financial companies listed on the Amman Stock Exchange i.e., the Jordanian Stock Market, from 2014-2018. After examining 810 firm-year observations from Jordanian industrial companies listed on the ASE, during the study period, we find that the companies using one of the BIG4 audit firms for auditing have less synchronous and more informative stock prices, suggesting high-quality audit improved governance and reduce information asymmetry between firms' insiders and investors which enhances the capitalization of firm's specific information into the stock price, thus less synchronous and more informative stock return. The findings remain consistent over 2 separate measurements of stock price synchronicity (Market and Industry model and Market Model) and show robustness for fixed effect tests. Our multivariate regression results are also robust after controlling for a number of features at the firm level with potential associations with stock price synchronicity. These include the firm size, leverage, return on assets (ROA), and market to book value (MBV).

• The Journal of Information Systems
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• v.31 no.4
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• pp.209-232
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• 2022

Purpose In the current environment of online shopping, the cost for consumers to obtain the information they need is decreasing, and the price of products is becoming more transparent, leading to increased price competition among enterprises for similar products. Given the widespread usage of limited-time promotion as a marketing method for enterprises in the context of e-commerce, it is great meaning to study and reveal the internal influence mechanism of limited-time promotion on consumers' impulsive consumption. Design/methodology/approach Based on the S-O-R theory, this study constructs a model of consumers' impulsive consumption in the context of e-commerce from the perspective of perceived price discount, with evoking sense and pleasure as mediating variables and perceived time pressure as moderating variables. Findings The results show that perceived price discount has a significant positive impact on evoking sense and pleasure. Evoking sense has a significant positive impact on pleasure. Both evoking sense and pleasure have a significant positive impact on consumers' impulsive consumption. Meanwhile, perceived time pressure plays a significant moderating role between perceived price discount and evoking sense, between perceived price discount and pleasure, and between evoking sense and consumers' impulsive consumption. Finally, based on the above findings, this study provides effective suggestions for e-commerce participants in the formulation of limited-time promotion strategies.

• Journal of the Korean Home Economics Association
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• v.41 no.9
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• pp.69-83
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• 2003

Today, because of the consumers who should constantly decide which to buy in a flood of information can't search for complete information by the limited time and the lack of the ability in evaluating the goods, the price being important as the information clue in consumers' goods or dependence on the price will be gradually increasing. The purpose of this study is to know how much price sensitivity recognized by consumers will have and effect on buying feeling of satisfaction in internet shopping mall. The result of this study is that the consumers' target-oriented behavior searching appropriate price for buying goods in internet shopping mall substantially elevates the price sensitivity and shapes the positive attitude toward the feeling of satisfaction. It is meaningful in that it has provided the base for studying the price sensitivity centering around some limited factors through actual proof of how the consumers respond to the price at this point of activating online transactions.

• Journal of Fashion Business
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• v.16 no.6
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• pp.109-126
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• 2012

The purpose of this study was to examine the effect of price-attitude toward apparel products on shopping values and consumption behavior. The study was carried out in Deagu and Kyungbook area. Applying the convenience sampling, total 326 questionnaire were collected from university students who were randomly selected as participants. This study used frequency, factor analysis, reliability analysis, regression analysis, and t-test for data analysis. The finding are as follows. Price-attitude toward apparel products was categorized into information leading, price dignity, price discount, list price orientation, quality value and using coupons. Shopping tendency factors were found as pursuit of pleasure, pursuit of sociality, and pursuit of economic feasibility. Consumption behavior factors were categorized into impulsive buying, ostentatious consumption, utilization of internet information, possession of material and brand trust. Price-attitude toward apparel products had a significant effect on shopping values and consumption behavior. University students seemed to consider the value of money to be very important as well as economic feasibility. They utilized information from the internet to buy products with good quality and showed high usage level of coupons. And, university students who buy at a least price tried to show dignity with expensive brand products and they consider those brands express self-confidence.