• Journal of Korean Society for Quality Management
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• v.51 no.4
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• pp.691-700
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• 2023

Purpose: This study aims to analyze the diffusion pattern of the Mongolian mobile phone market. In particular, we used a generalized diffusion model to explore the factors affecting market potenial. Methods: We used three diffusion models to estimate the number of mobile subscribers in Mongolia. Based on the Logistic model with the best fitness, we introduced time-varying market potential and explored the influence of various independent variables such as GDP and inflation. Results: Among the basic diffusion models, the Logistic model was the best in terms of estimation performance and statistical significance. The estimation results of the Generalized Logistic model confirm that investment in the telecommunication sector has a significant positive effect on market potential. The estimation of the Generalized Logistic model effectively describes the continuous growth of the Mongolian telecommunications market until recently. Conclusion: We have analyzed the diffusion pattern of the Mongolian telecommunications market and found that the amount of investment in the sector leads to the growth of the market size. This study is original in terms of its subject - Mongolian telecommunications market and methodology - time-varying market potential.

• Korea Real Estate Review
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• v.28 no.2
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• pp.21-34
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• 2018

The purpose of this study is to investigate the effect of macro-finance variables on the correlation between the housing and stock markets because understanding the nature of time-varying correlations between different assets has important implications on portfolio allocation and risk management. Thus, we adopted the AG-DCC GARCH model to obtain time-varying, conditional correlations. Our sample ranged from January 2004 to November 2017. Our empirical result showed that the coefficients on asymmetric correlation were significantly positive, implying that correlations between the housing and stock markets were significantly higher when changes in the housing price and stock returns were negative. This finding suggested that the housing market has less hedging potential during a stock market downturn, when such a hedging strategy might be necessary. Based on the regression analysis, we found that the term spread had a significantly negative effect on correlations, while the credit spread had a significantly positive effect. This result could be interpreted by the risk premium effect.

• Journal of Korea Trade
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• v.27 no.2
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• pp.47-60
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• 2023

Purpose - This paper assesses the trade potential and efficiency of Korea and China in the aquatic products trade. Trade efficiency and potential are the main factors that affect the growth of a country's trade. In this study, a time-varying stochastic frontier trade gravity model was constructed to analyze the trade potential and efficiency between Korea and China. By integrating the results of trade theory and empirical analysis, measures and suggestions were proposed to encourage the release of trade potential of fish exports between Korea and China. Design/methodology - In this paper, GDP per capita instead of economic size was chosen as an explanatory variable, and population size and relative distance were selected as explanatory variables to measure trade potential. For trade non-efficiency terms, regional organizations, political factors, and economic factors were mainly considered, and variables such as free trade agreements, political stability, regulatory quality, government efficiency, currency freedom, investment freedom, financial freedom, and trade freedom were selected. Panel data for South Korea and 14 aquatic products trading partners (including China) from 2002 to 2020 were used in the empirical analysis. Findings - In the past 19 years, South Korea's export trade potential of aquatic products to China has never been lower than 70%. It was above 90% from 2006 to 2018, and has been at a high level for a long time. This shows that China's aquatic product market has large potential for development. Originality/value - This study examines the effectiveness and potential of South Korea's exports of aquatic items to China in a methodical and comprehensive empirical manner. The evaluation of the export trade potential of South Korea's aquatic goods to China is more precise when the effects of regional organization, political, and economic variables are taken into account in the trade non-efficiency term of the stochastic frontier gravity model. At the same time, we propose to increase the scale of South Korea's aquatic products trade from the perspective of China's demand. This issue of trade studies is underexplored both empirically and in theory, although the issue has long been important to Korean and world trade.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.22 no.2
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• pp.35-41
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• 2008

In this paper, the new demand-side evaluation of the technical potential of lighting dimming control and its applications in electricity markets have been presented. Currently, advanced power information technologies(IT) has been developed and the variations of power information technologies have widely provided the new research and business opportunities. In particular, the dimming control for the lighting devices with time-varying prices and advanced controls has its economically significant values in electricity markets. Therefore, in this paper, the authors have explored the usefulness of lighting dimming control in load management fields as well as energy efficiency fields under the changing competitive electricity market environments.

• Journal of Distribution Science
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• v.19 no.11
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• pp.59-68
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• 2021

Purpose: The Covid-19 pandemic has had excessively severe impacts on all the nodes and edges of any supply chain due to changes in consumer behaviours and lockdown restrictions from governments among countries. This article aims to provide a simulating experiment on how a supply chain deals with supply disruption risks by flexibility in the inventory level of each sector as a buffer considering the overall cost to fulfil demand in the market. Research design, data and methodology: Agent-based simulation techniques are used to determine the cost-efficiency and customer waiting time related to varying inventory levels of each member in the supply chain when using inventory buffers. Findings: This study has shown that any sudden changes in the inventory level of each sector are likely to impact the rest of the supply chain. Among all sectors, the wholesaler will be impacted more severely than others. Also, the manufacturing sector is the most suitable node to adjust inventory depending on its manufacturing ability. Conclusion: The findings of the study provide insightful implications for decision-makers to adjust inventory levels and policymakers to maintain manufacturing activities in the context of the pandemic restrictions to deal with the excessive demand and potential supply disruption risks.