• Journal of Korea Society of Digital Industry and Information Management
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• v.6 no.3
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• pp.211-219
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• 2010

This paper designs the dynamic symbol automatic trading system in Korean option market. This system is based on Multichart program which is convenient and efficient system trading tool. But the Multichart has an important restriction which has only one constant symbol per chart. This restriction causes very useful strategies impossible. The proposed design uses global variables, signal chart selection and position order exchange. So an automatic trading system with dynamic symbol works on Multichart program. To verify the proposed system, BS(Buythensell)-SB(Sellthenbuy) strategies are tested which uses the change of open-interest of stock index futures within a day. These strategies buy both call and put option in ATM at start candle and liquidate all at 12 o'clock and then sell both call and put option in ATM at 12 o'clock and also liquidate all at 14:40. From 23 March 2009 to 31 May 2010, 301-trading days, is adopted for experiment. As a result, the average daily profit rate of this simple strategies riches 1.09%. This profit rate is up to eight times of commision price which is 0.15 % per option trade. If the method which raises the profitable rate of wining trade or lower commission than 0.15% is found, these strategies make fascinated lossless trading system which is based on the proposed dynamic symbol automatic trading system.

• Journal of Distribution Science
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• v.21 no.3
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• pp.93-100
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• 2023

Purpose: The purpose of this paper is to confirm whether stocks belonging to the distribution industry in Korea have reversals, following large daily stock price changes accompanied by large trading volumes. Research design, data, and methodology: We examined whether there were reversals after the event date when large-scale stock price changes appeared for the entire sample of distribution-related companies listed on the Korea Composite Stock Price Index from January 2004 to July 2022. In addition, we reviewed whether the reversals differed depending on abnormal trading volume on the event date. Using multiple regression analysis, we tested whether high trading volume had a significant effect on the cumulative rate of return after the event date. Results: Reversals were confirmed after the stock price shock in the Korean distribution industry and the return after the event date varied depending on the size of the trading volume on the event day. In addition, even after considering both company-specific and event-specific factors, the trading volume on the event day was found to have significant explanatory power on the cumulative rate of return after the event date. Conclusions: Reversals identified in this paper can be used as a useful tool for establishing a trading strategy.

• Fashion & Textile Research Journal
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• v.14 no.6
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• pp.928-940
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• 2012

The present study aimed to propose the competitive strategy to fashion brand franchise stores by analyzing articles regarding success stores as published in fashion magazines. A total of 91 articles were selected from three fashion magazines and content analysis was applied to extract major factors. Four types of trading areas and eight product types were compared by the major factors. As results, six major factors composing competitive strategy were analyzed such as personal selling, management of sales forces, promotion, customer relationship management, management of store space, and relationship with headquarter. Comparing competitive factors by the types of trading area, management of sales forces and personal selling were crucial for central district and for outlets/interchange district. On the other hand, personal selling and customer relationship management were important for local district while management of store space and personal selling were critical for tenants of the large discount store/shopping mall area. Comparing by product types, personal selling was the most important factor for all product types except young casualwear whereas the second important one was management of sales forces for adult casualwear, womenbbbs wear, and others. For menbbbs wear, sales promotion was the second important one whereas management of store space was the second crucial one for underwear and childrenbbbs clothing. Based on the present study result, it is proposed that competitive strategy of individual fashion brand franchise store should be differently developed because the characteristics of trading area and product type are different and in turn, customers benefit and competition might be different.

• Journal of Distribution Science
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• v.13 no.5
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• pp.33-44
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• 2015

Purpose - This study examined the Italian eyeglass industry and the status of the franchise market. Luxottica's global growth strategy was analyzed to provide insight into the strategy and development of the Italian eyeglass industry and its franchise business. Research design, data, methodology - Luxottica's annual report, public media material, and website were examined, in addition to data from professional institutions. For the domestic eyeglass industry and franchise business, data from professional organizations, franchise information disclosure documents of the Fair Trading Commission, media materials, and related papers were investigated. Results - The success factor turned out to be securing a global wholesaler with retailers in overseas markets. This successful strategy was based on the strong entrepreneurial spirit of the founder, innovative craftsmanship, and an excellent corporate culture including corporate social responsibility (CSR). Conclusions - Considering the current environment, for Luxottica to be a leading global company, it had to review and adopt a successful vertical integration strategy, from R&D to distribution, M&A of overseas wholesalers and retailers, creative design and technical development, and sustainable cultural development

• Journal of Information Technology Applications and Management
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• v.9 no.3
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• pp.13-30
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• 2002

ebXML (Electronic Business using extensible Markup language), sponsored by UN/CEFACT and OASIS, is a modular suite of specifications that enables enterprises of any size and in any geographical location to conduct business over the Internet. Using ebXML, companies now have a standard method to exchange business messages, conduct trading relationships, communicate data In common terms and define and resistor business processes. It is the mission of ebXML that provides an open XML-based infrastructure enabling the global use of electronic business information in an interoperable, secure and consistent manner by all parties for creating a single e1ectronic electronic market. This paper briefly overviews the concept of core component, context, assembly rule and context rule. Then, It designs by standard specifications of ebXML core component commonly used in an industry and among industries, and assembles business messages by using XML schema. Therefore, it suggests the mechanism which effectively exchanges business messages among the trading partners. This paper designs core component by using only three business messages of retail industry : orders, dispatch report, sales report.

• Proceedings of the Korea Inteligent Information System Society Conference
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• 2005.11a
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• pp.379-390
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• 2005

In this paper, we introduce a new combinatorial auction mechanism - N-Bilateral Optimized Combinatorial Auction (N-BOCA). N-BOCA is a flexible iterative combinatorial auction model that offers optimized trading for multi-suppliers and multi-purchasers in the supply chain. We design the N-BOCA system from the perspectives of architecture, protocol, and trading strategy. Under the given N-BOCA architecture and protocol, auctioneers and bidders have diverse decision strategies for winner determination. This needs flexible modeling environments. Hence, we propose an optimization modeling agent for bid and auctioneer selection. The agent has the capability to automatic model formulation for Integer Programming modeling. Finally, we show the viability of N-BOCA through prototype and experiments. The results say both higher allocation efficiency and effectiveness compared with I-to-N general combinatorial auction mechanisms.

• Journal of Korea Trade
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• v.23 no.3
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• pp.1-19
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• 2019

Purpose - This research examines the effect of a foreign subsidiary on the productivity growth of a Two-way trading manufacturing firm in Korea. We explore firms engaged in both trade and FDI simultaneously to verify whether participation in GVC as a broad concept is an efficient internationalization strategy to increase the productivity of a Korean manufacturing firm. Design/methodology - Based on the firm-level data by utilizing the Survey of Business Activities from Statistics Korea, we examine the impact of vertically integrated foreign subsidiaries on the productivity of a manufacturing firm that exports and imports simultaneously. Findings - The results show that if a Two-way trading firm establishes one or more overseas subsidiaries, the total factor productivity growth increases. Moreover, the FDI effect is statistically significant when the destination country has an economically close relationship with Korea. However, these effects are disparate depending on the industrial competitiveness or market situation where the subsidiary is located. Nonetheless, the synergy effect resulting from industrial combination is represented in China and the USA only. Originality/value - As the importance of GVC has become more emphasized around the world. In spite of the scarcity of related domestic studies, we explored the effect of multinational manufacturing firms participating in GVC using firm-level data.

• Journal of Distribution Science
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• v.16 no.9
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• pp.65-77
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• 2018

Purpose - A trading area is very closely related to consumer life. A trading area is a cultural and social space that consumes culture and promotes human relationships as well as an economic space where consumers live their daily lives. In this context, a trading area research should be conducted objectively and empirically because it deals with the activities of consumer's life. The purpose of this study is to identify the intrinsic psychological motivation(push motivation) caused when consumers visit a trading area and to demonstrate how the push motivation for a trading area influence on consumer's flow, satisfaction, revisit intention. Research design, data, and methodology - In order to develop research hypotheses for this study, the development procedures for push motivation scale are as follows; (1) generating initial pool of items based on previous studies, (2) expert judgement to evaluate content and face validity, and (3) assessing convergent and discriminant validity using confirmatory factor analysis. In order to achieve these purposes, online surveys were conducted on frequent or familiar visitors to the trading areas around the Gangnam, Kunkuk University and Hongik University Station. Among the 1,343 questionnaires collected, 1,157 cases were analyzed by using SPSS 22.0 and SmartPLS 3.0 statistical package program, except for 186 responses in which responses were judged to be unfaithful. Results - The push motivation was classified into five sub-dimensions of excitement/stimulus, rest/relaxation, exit/refreshing, knowledge/learning and human relationship promotion as multidimensional and complex factors composed of individual and social-related dimensions. The excitement/stimulus and human relationship promotion of push motivation have positive effects on satisfaction. However, all dimensions of the push motivation have positive effects on flow. And flow has a positive effect on satisfaction and revisit intention. Meanwhile, the mediation test using boostrapping shows that flow plays a full mediating role in the relationship between rest/relaxation, exit/refreshing, knowledge/learning and satisfaction, but a partial mediating rol e between excitement/stimulus, human relationship promotion and satisfaction. Finally, satisfaction plays a partial mediating role between flow and revisit intention. Conclusions - This study shows that the push motivation is multidimensional and compositive depending on the situation of a consumer. In addition, it is found that the human relationship promotion(a social-related motivation) has a much more important effect on flow and satisfaction than other push motivations of individual dimensions. It also shows that satisfaction increases when consumers are being flowed at their visit and degree of revisit intention also grows as satisfaction increases. As implications of this study, a marketer should try to understand consumer's visit motivation at first and then develop factors that increase their flow, satisfaction, revisit intention. It also requires a marketer to approach subjects on a trading area more objectively and empirically based on the psychology and behavior of consumers, in order to establish a proper and efficient strategy on development of a trading area.

• Environmental and Resource Economics Review
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• v.13 no.2
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• pp.271-300
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• 2004

We investigate the two recent simulations of the proto-type domestic carbon emission trading system in Korea and draw some policy implications. The first simulation includes the 5 electric power companies based on baseline and credit. But the second one is with the 7 energy-intensive companies based on cap and trade. The voluntary approaches in this paper revealed the instability of market equilibrium, i.e., price volatility or distortion, excess supply or demand. These phenomena stems from excess incentives to the players, asymmetric information, players' irresponsible strategic behaviors, and non acquaintance of trading system. This paper suggests the basic design for domestic carbon trading system in future and a stepwise introduction strategy for it including the incentive auction scheme, the total quantity of incentive needed, and how to finance it. Meantime, the further simulations on the various sectors based on voluntary participation must be essential for learning experiences and better policy design.

• Journal of Information Technology Applications and Management
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• v.11 no.1
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• pp.175-187
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• 2004

Many companies have integrated their internal processes with the aid of information technology. Now the focus is on interconnecting trading partners. Collaborative commerce (also known as c-Commerce) has a key role. It is not just about making it easier for business to communicate. It is about by breaking down barriers along the entire length of the supply chain. Some c-Commerce links are permanent, others get established when and where they are needed. c-Commerce is helping business in electronic supply chains to improve product delivery while cutting costs, to strengthen relationships and to reduce lead time. In this paper, we propose the concept of collaborative commerce, and design and implement Collaborative Commerce Portal (CCP) system of small and medium enterprise for marketing support. The technical definition of CCP is set of all technical elements can do collaborative commerce between small and medium enterprises with Internet or Internet. The target information of CCP includes usual and unusual information and all other information of companies used as process events. Through this, it enhances efficiency of business processes, core information sharing and marketing activation.