• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.39-47
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• 2021

This research aims to confirm if the COVID-19 pandemic has had an impact on existing sectors, and how that affects the Indonesian Stock Exchange (IDX) market returns. The research method used is an event study employing market models in nine sectors of the Exchange with purposive sampling technique, and supported by Ordinary Least Square (OLS) regression. Based on the calculation of abnormal returns in the period of 30 days before up to 30 days after, the financial property, real estate, and construction sector results show a decreased abnormal return value. The infrastructure, utilities, and transportation sectors also show an abnormal return value that tends to be constant, while the abnormal return value increases in other sectors. Judging from the cumulative value of abnormal returns, the most affected sector is financials, followed by the trade, service, and investment sectors. The consumer goods and mining industry sectors are still optimistic, while other sectors show temporary negative sentiment. Overall, the stocks on the Indonesia Stock Exchange (IDX) were affected by the COVID-19 pandemic with a cumulative negative value of the average abnormal return sample. The results using OLS regression also strengthen the relationships between the COVID-19 pandemic, and negative and significant market returns.

• The Journal of Asian Finance, Economics and Business
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• 제8권9호
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• pp.249-260
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• 2021

This research explores the effects of intellectual capital on knowledge management processes (creation of information, knowledge sharing, and use of knowledge) and innovation performance. The data was gathered from 224 fashion accessories in Thailand using a questionnaire. The population was collected on December 16, 2019 (https:/www.ditp.go.th) from a list database of the Department of International Trade Promotion, Ministry of Commerce of Thailand (2019). A questionnaire mail survey technique was used to collect data. Executives or managers were the key participants in this study. The statistical technique used to analyze is the ordinary least square regression. The findings show that intellectual capital has a significant positive effect on information management systems. Likewise, information management techniques have a significant positive effect on innovation performance. Moreover, increasing the use of information tends to make staff willing to use the knowledge to improve the quality and quantity of the service. This tendency contributes to productivity gain. Through the interaction of processes of information use, self-reflection, and input from customers, employees tend to increase the production of knowledge that eventually develops the results of the innovation. Hence, organizations should value knowledge management process elements to improve efficiency, and thus innovation.

• 유통과학연구
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• 제10권10호
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• pp.25-33
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• 2012

Purpose - The Garak agricultural wholesale market ('Garak Market') plays a central role in the distribution of agricultural products in Korea and is important in connecting consumers with producers. However, problems regarding inefficiencies and the high-cost structure of the wholesale market's distribution/logistical system are being raised in relation to severe competition among retailers. Furthermore, the service needs of retailers and market users are not being fulfilled due to the inconsistency of the wholesale market's functions and facilities, thus reducing the competitiveness of the market. In this regard, innovative changes are being requested of the agricultural wholesale market according to changes in the agricultural product distribution environment. In particular, the lack of unloading facilities and the outdated unloading system of the wholesale market must be improved to enhance system efficiency. Research design, data, and methodology - This study observed the problems of the unloading system of the agricultural wholesale market in order to present relevant measures for improvement. The need for unloading auctions was also researched in this study. The survey of 70 forwarders belonging to the producing district distributor association of the Garak market was conducted by post. Additionally, 20 auction dealers and 59 shippers and transporters were individually interviewed. The survey on the need for unloading auctions used five-point Likert Scales. The statistical analysis was conducted with SPSS WIN 12.0 software. Results - First, the wholesale market must employ members of the unloading labor union to allow these employees to directly manage the unloading process. Second, it is crucial to revise regulations to ensure that the principal agent pays the unloading cost according to the standard unloading cost system. Third, the vehicle auction carried out for certain vegetable products must be converted to the unloaded auction system. According to the related interviews with the wholesale market's distribution agents, whereas shippers and transporters recognized the need for unloaded auctions, auction dealers tend to have a negative view of this system. Furthermore, the stated reasons in favor of unloaded cabbage, radish, and other vegetable auctions were prevention of constraint, creation of transparent trade conditions, and reduction of corrected seller tickets. Many of the respondents answered that the transport cost reduction rate in unloaded auctions must be below 20%. Fourth, the unloading system must be mechanized and a detailed, reasonable plan must be provided to settle the existing conflict with the unloading labor union. Conclusions - The proposals in this study are expected to play an important role in improving the cargo handling system of the wholesale agricultural product market in the future. Improving the system is expected to help shore up the competitiveness of the industry. If all the related bodies closely cooperate with each other and work harder, taking advantage of the synergies created by the facility modernization project, the Garak market will play a pivotal role in the distribution of agricultural products.

• 대한교통학회:학술대회논문집
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• 대한교통학회 1995년도 제27회 학술발표회
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• pp.3-32
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• 1995

The Highway Capacity Manual specifies procedures for evaluating intersection performance in terms of delay per vehicle. What is lacking in the current methodology is a comparable quantitative procedure for ass~ssing the safety-based level of service provided to motorists. The objective of the research described herein was to develop a computational procedure for evaluating the safety-based level of service of signalized intersections based on the relative hazard of alternative intersection designs and signal timing plans. Conflict opportunity models were developed for those crossing, diverging, and stopping maneuvers which are associated with left-turn and rear-end accidents. Safety¬based level-of-service criteria were then developed based on the distribution of conflict opportunities computed from the developed models. A case study evaluation of the level of service analysis methodology revealed that the developed safety-based criteria were not as sensitive to changes in prevailing traffic, roadway, and signal timing conditions as the traditional delay-based measure. However, the methodology did permit a quantitative assessment of the trade-off between delay reduction and safety improvement. The Highway Capacity Manual (HCM) specifies procedures for evaluating intersection performance in terms of a wide variety of prevailing conditions such as traffic composition, intersection geometry, traffic volumes, and signal timing (1). At the present time, however, performance is only measured in terms of delay per vehicle. This is a parameter which is widely accepted as a meaningful and useful indicator of the efficiency with which an intersection is serving traffic needs. What is lacking in the current methodology is a comparable quantitative procedure for assessing the safety-based level of service provided to motorists. For example, it is well¬known that the change from permissive to protected left-turn phasing can reduce left-turn accident frequency. However, the HCM only permits a quantitative assessment of the impact of this alternative phasing arrangement on vehicle delay. It is left to the engineer or planner to subjectively judge the level of safety benefits, and to evaluate the trade-off between the efficiency and safety consequences of the alternative phasing plans. Numerous examples of other geometric design and signal timing improvements could also be given. At present, the principal methods available to the practitioner for evaluating the relative safety at signalized intersections are: a) the application of engineering judgement, b) accident analyses, and c) traffic conflicts analysis. Reliance on engineering judgement has obvious limitations, especially when placed in the context of the elaborate HCM procedures for calculating delay. Accident analyses generally require some type of before-after comparison, either for the case study intersection or for a large set of similar intersections. In e.ither situation, there are problems associated with compensating for regression-to-the-mean phenomena (2), as well as obtaining an adequate sample size. Research has also pointed to potential bias caused by the way in which exposure to accidents is measured (3, 4). Because of the problems associated with traditional accident analyses, some have promoted the use of tqe traffic conflicts technique (5). However, this procedure also has shortcomings in that it.requires extensive field data collection and trained observers to identify the different types of conflicts occurring in the field. The objective of the research described herein was to develop a computational procedure for evaluating the safety-based level of service of signalized intersections that would be compatible and consistent with that presently found in the HCM for evaluating efficiency-based level of service as measured by delay per vehicle (6). The intent was not to develop a new set of accident prediction models, but to design a methodology to quantitatively predict the relative hazard of alternative intersection designs and signal timing plans.

• 통상정보연구
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• 제13권3호
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• pp.169-201
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• 2011

정보과학기술의 발달은 식료품산업에서도 큰 변화를 가져왔는데, 그것은 바로 기존의 전통적인 슈퍼마켓 형태의 배송체계에서 온라인 방식의 배송시스템을 접목한 것이다. 현재 한국의 전통적인 슈퍼마켓들은 소비자를 만족시키기 위한 하나의 방편으로 오프라인과 온라인 서비스를 동시에 제공하고 있다. 본 연구는 과거 1990년대 후반부터 2000년대 초반까지 선진국에서 주로 이루어진 선행연구들을 기초로 하여, 온라인 식료품 산업의 개념과 운영(operation)모델을 설명하고, 전 세계 온라인 식료품 회사와 한국 대형 슈퍼마켓의 온라인 식료품 서비스 현황 분석을 통해, 한국 대형 슈퍼마켓의 성공적인 온라인 식료품 서비스 제공을 위한 배송방법들과 기타 대안들을 제안하고자 한다. 연구에 따르면 한국 대형 슈퍼마켓들은 현재 집 배송(home delivery) 서비스를 제공하고 있으나 선진국들에 비하면 아직 초기단계에 머물러 있다. 배송 서비스의 대안으로서, 가장 기본이 되는 것은 저렴한 비용의 점포픽업서비스이다. 점포 픽업서비스는 인터넷을 통해 가까운 대형마트에 원하는 상품을 주문하고 매장을 방문하여 주문한 상품을 인도받는 형태이다. 또 다른 대안으로 배송서비스의 질을 향상시키기 위해 리셉션박스라는 특수한 박스를 이용하는 방법이 있다. 이 박스는 신선식품과 같은 신선도가 생명인 상품의 질을 유지하기 위해 박스의 온도 조절과 자물쇠처리를 통해 안전하게 고객에게 상품을 전달하는 방법이다. 마지막 대안으로는 배송서비스의 질적 향상을 위한 DC(distribution center)를 구축하는 것이다. 그러나 DC구축은 높은 투자자본이 요구되므로 구축에 어려움이 있다. 그러나 미국 온라인 식료품 기업인 Peapod이 기존 전통기업과 온라인 식료품 기업의 합병이나 파트너십을 통해 DC를 구축한 것처럼 한국 대형 슈퍼마켓들도 DC구축이 가능할 것으로 보인다. 위에서 제시한 배송서비스를 실현하기 위해서는 기본적으로 대규모 주문량을 확보하여야 하며, 이를 위해서 홍보를 통한 온라인 잠재고객의 유인이 반드시 필요하다. 아울러 온라인 식료품 배송 서비스에서 고객들이 기대하는 식품 위생과 안전성의 보장 그리고 편의성을 제공하여 충성스런 고객(loyal customers)을 계속 유지하는 것 또한 대형 슈퍼마켓들이 온라인 식료품 산업에서 성공을 위해 고려해야하는 중요한 요소라 하겠다.

• 유통과학연구
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• 제14권8호
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• pp.123-128
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• 2016

Purpose - Korean Wave that overspreads around Asia and America, especially the Korean beauty wave, has reached Mongolia and Mongolian consumers. Mongolia consumers usually prefer foreign cosmetic brands to local brands, because the local brands cannot satisfy fast changing needs and wants of local consumers. Research design, data, and methodology - Based on previous studies about life style of Mongolian consumers, advertisement properties and consumer behaviors, we propose a research model and related hypothesis. In order to test hypotheses, we analyzed 366 survey data out of 376 by eliminating improper 10 responses. Factor analysis and reliability analysis was conducted by SPSS 22.0. We used multiple regression analysis and parameter analysis to test the relation between variables. Results - As exploring the Mongolian consumers' current usage of cosmetic products, we found that the customers' focus is how the products fit with their skin. Mongolian consumers often get the information about cosmetic products through TV and internet. Mongolian consumers show positive attitudes on the appearance of Korean celebrities in responsibility, while there is no significant effect on attractiveness. Mongolian consumer's behaviors toward brand have positive effect on both responsibility and attractiveness of Korean commercial celebrities. Responsibility and attractiveness of Korean commercial celebrities have positive effect on the behaviors toward advertisements of cosmetic products. Conclusions - Behaviors toward advertisements of cosmetic products have positive effect on both purchase intention and loyalty of customer. Responsibility and attractiveness of Korean commercial celebrities have positive effect on mediating variable of behavior toward advertisement and independent variable of purchase intention. Responsibility and attractiveness of Korean commercial celebrities have positive effect on mediating variable of behavior toward advertisement and independent variable of loyalty of customer. In order to improve the effect of advertisements, firms need to consider not only the technique of the model but also the image of model in regard to trust and professionalism appealing to consumers. In addition, firms need to choose the model who fits in with the image of the firms and the products and service of the firms. Finally, Mongolian consumers tend to acquire the shopping information through TV advertisements, especially featuring Korean popular stars, thus, TV advertisements can be a wise option in Mongolian cosmetic market.

• 유통과학연구
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• 제11권5호
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• pp.43-53
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• 2013

Purpose - The purpose of this study is to analyze the effectiveness of customer relationship management (CRM) support policies for facilitating traditional markets, especially with respect to customer acquisition and maintenance, and to investigate the factors affecting CRM. Research design, data, and methodology - We analyzed the CRM efficiency of traditional markets in 16 cities and provinces in Korea on the basis of DEA analysis and Malmquist productivity analysis. The DEA model calculates a ratio of the weighted mean of various inputs to the weighted mean of various outputs and measures the efficiency of a specific decision making unit (DMU), which is compared to the reference group that has a similar input-output structure. The input variables are coupon, event, parcel service, premiums, while is the number of customers per day. Further, through regression analysis, we analyzed CRM-related factors affecting traditional markets' customer appeal and revenue growth. Results - We obtained the results of the efficiency of traditional markets in 16 provinces. The traditional markets in Seoul, Busan, and Jeju were found to be efficient in a model CCR that used the number of customers per day as an output variable, while Chungbuk, Jeonbuk Province, and According to the results of the DEA analysis and Malmquist productivity analysis, large cities such as Seoul, Busan, and Jeju showed efficiency in CRM-related investment businesses in traditional markets for attracting customers. The Malmquist analysis results confirmed that the productivity of traditional markets increased from 2008 to 2010. The results of the regression analysis revealed that the "customer acquisition/maintenance factor" and the "offering of customer convenience facility factor" were significant to the daily average number of customers, which is a dependent variable. The results of the test with the mediating variable, "number of customers," and the final dependent variable, "sales revenue," were rejected. However, the variable "customer acquisition /maintenance" was found to affect sales revenue positively. Conclusions - It is necessary to enhance the business not only for promotional activities to attract customers, but also to strengthen customer relationships among CRM businesses, such as through the management of key customers. The regression analysis results showed that CRM businesses have yet to produce an increase in sales revenues in traditional markets. Therefore, to help customers who visit traditional markets to keep buying products, it is necessary to prepare various investment methods and provide support to improve "customer loyalty." This study has a limitation in terms of CRM-related statistics. Therefore, in the future, it is necessary to conduct a survey of customers who use traditional markets to analyze the markets by type and size as well as the CRM-related factors. Based on the analysis, we will try to perform a variety of statistical analyses, including structural equations.

• 산경연구논집
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• 제10권5호
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• pp.27-36
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• 2019

Purpose - Naver has emerged as a new leader in the open market. While existing open markets such as Gmarket, 11th Street, and so on are suffering from profitability deterioration, Naver is attracting sellers based on low commission and powerful search engine. We would like to analyze the impact of Naver shopping on the national economy, especially on employment, in a situation where the market reaction to Naver's strength as a leader in online shopping is mixed. Research Design, Data, and Methodology - Through the demand inducing inter-industry analysis, we estimate the employment inducement effect by Naver shopping from its shopping transaction. In turn, through the supply inducing inter-industry analysis, we estimate the employment inducement effect by Naver shopping from its low commission and powerful search engine. For the purpose of inter-industry analysis, as of 2018, the most recently announced 2014 inter-industry table (extension table) from the Bank of Korea is used. Results - The results of this study are as follows. First, Naver Shopping is expected to generate 7.8 trillion won's trade in 2018, resulting in 244,225 of job inducement, and 158,598 of employment inducement. In addition, Naver Shopping is estimated to benefit KRW 213 billion to its sellers due to low commission and powerful search function, resulting in 8,667 of job inducement, and 5,655 of employment inducement. Second, in terms of job inducement and employment inducement due to Naver Shopping's trade, transportation, business support service, information and communication, broadcasting, restaurants and lodging were ranked. Third, in terms of job inducement and employment inducement due to Naver Shopping's low commission and powerful search function, restaurants and hospitality, f/b and cigarette manufacturing, construction, and transportation equipment manufacturing were ranked. Conclusions - The number of job inducement resulting from low commission and powerful search engine of Naver shopping in 2018 was 8,667 (3.7% of 244,225, which was caused by transaction in Naver shopping in 2018), and employment inducement was 5,655 (3.7% of 158,598, which was caused by transaction in Naver shopping in 2018), which can be considered as additional employment impacts of Naver Shopping compared to the other online shopping operators.

• 한국식품조리과학회지
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• 제26권3호
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• pp.300-306
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• 2010

Arabica coffee has been classified for trading according to the New York Board of Trade (NYBOT) green coffee classification. The aim of the present study is to evaluate the physiochemical and sensorial characteristics of coffees classified by NYBOT as NY2 (specialty coffee), NY3/4 and NY4/5 (commercial coffee). The density of green coffee was higher for the NY2 sample. The amount of total solids in brewed coffee increase as the green coffee grade decreased and the pH levels decreased as the coffee grade decreased. Descriptive analysis using a 15cm line scale was carried out by 12 trained panelists prepared by espresso coffee and consumer preference tests were carried out by 168 consumers. The NY2 sample had the highest fruity, acidity, sweetness and aftertaste characteristics. In addition, green, rio, sour and astringency characteristics increased as the coffee grade decreased. Acceptance of aroma, flavor, taste balance and overall were higher for the NY2 sample. In the consumer preference test, the NY2 and NY4/5 samples had a similar distribution, but consumers between the ages of 20 to 30 who like to drink brewed coffee more than instant coffee preferred the NY2 than sample over the NY3/4 sample. In conclusion, significant differences were observed among the three groups of green coffee classification in all physicochemical and sensory parameters.

• 산경연구논집
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• 제10권1호
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• pp.69-76
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• 2019

Purpose - The purpose of this paper is to empirically investigate the effectiveness of Offcial Development Assistance (ODA) in recipient countries' economy. ODA is designed to mitigate poverty and stimulate economic growth in the developing countries. We classify total ODA into bilateral ODA and multilateral ODA depending on the number of donor countries. If the ODA flows from one donor country to one recipient country, it is classified as bilateral ODA. If the multiple countries simultaneously become donor countries through the international organizations such as United Nations and World Bank, it is classified as multilateral ODA. This paper compares the effect of bilateral ODA and multilateral ODA in determining recipient countries' economic development, and tries to provide policy implications to Korean ODA. Research design, data, and methodology - Our primary explanatory variables are bilateral and multilateral ODA. Private credit in recipient countries is adopted as additional explanatory variables to capture the level of financial development in recipient countries. We measure the ODA effectiveness using economic growth and quality of life of the recipient countries as the dependent variable. We collect 142 recipient countries' data from OECD statistics, during the period from 1970-2014. Panel least squares estimation with country fixed effect is employed as the empirical model. Results - Our results support that ODA variable has a negatively significant impact on recipient countries' economic growth, while it is positively correlated with human development index. Recipient countries' private credit is positively correlated with economic growth and human development index. The interaction variable of ODA and financial development turns out to be significant in general. We find that the positive effect of ODA depends on recipient countries' financial market development and this effect is stronger in multilateral aid than bilateral one. Conclusions - From the analysis, we have confirmed that the recipient countries financial development is the necessity condition to achieve positive effect of ODA. Based on these results, we suggest that Korean government should increase the share of multilateral funding and pay attention to recipient countries' financial market development to maximize the effectiveness of ODA.