• Journal of Korean Society of Transportation
• /
• v.7 no.1
• /
• pp.19-34
• /
• 1989

In general, Shopping centers are located in the center of transportation, which induce more traffic concentration than other facilities. As a result, it becomes to one of the aggravating factors of urban ＆ transportation problem such as traffic conjestion, parking problems. Thus, in planning shopping-center, it is desirable that consumer\`s trip pattern is should lie more carefully analyzed in order to alleviate the above problems. This study is aimed at finding the characteristics of shopping tripes and analyzing the choice behavior of shopping center and mode-to-shop. This study has developed a nested logit model in which consumers choose shopping center and mode-to-shop with a sequential structure. The model was estimated using household data from the 1989 May, Seoul metropolitan area and the 18 alternatives of shopping center and 5 mode alternatives. The estimated model have been evaluated and it may be concluded that this model for shopping trips is effective and fesible. The conclusion of this study are as fellows. 1. Out-of-vehicle travel time is more important factor affecting behavior of mode choice than in-vehicle travel time. 2. All of direct-elasticities for mode with respect to the travel time is more elastic than travel cost. 3. Accessibility to shop is more important factor affecting the choice of shopping center than parking space. 4. The value of out-of-vehicle travel time exceeds the value of in-vesicle travel time by 1.64 times.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.7
• /
• pp.159-167
• /
• 2020

The study examines the impact of corporate social responsibility (CSR) activity on the firm market value, in particular, market capitalization of tour operators listed on Chinese stock markets. This study employs panel data analysis methods to examine endogeneity concerns in observational data. The balanced panel data includes a total of 1,296 observations with 27 cross-sections of tour operators listed on Chinese stock markets and with 48 time-specific periods from March 2006 to December 2017. The results indicate that CSR activity has a negative impact on the market value of the firm for the concurrent period, but from one-period time lag and afterwards CSR activity has a strong positive impact on the market value and sustains its positive impact on the market value even for a two-period time lag. The findings suggest that the economic effect of CSR activity on the firm market value tends to take some degree of lagged effects to be fully showcased in the market capitalization of tour operators and travel companies listed on Chinese stock markets. The findings suggest that, though CSR activity may carry some financial risk for an immediate short-term, tour operators must put a lot of time and effort into making CSR actions effective.

• Proceedings of the KOR-KST Conference
• /
• 1998.09a
• /
• pp.160-167
• /
• 1998

Recent world-wide interest in activity-based travel behavior modeling has generated an entirely new perspective on how the profession views the travel demand process. This paper seeks to further promote the case of activity-based travel behavior models by providing some empirical evidence of relationship between travel time and activity duration decision for worker with transportation panel data. The travel time from home to work and from work to home, without activity involvement, is estimated by the Ordinary Least Squares (OLS) method. And, the travel time to and from the selected activity and the activity duration are modeled simultaneously by the Three Stage Least Squares (3SLS) method due to the endogenous relationship between travel time and activity duration. Two kinds of models, OLS and 3SLS, include selectivity bias corrections in a discrete/continuous framework, because of the inter-relationship between the choice of activity type/travel mode (discrete) and the travel time/activity duration (continuous). Estimation is undertaken using a sample of over 1300 household two-day trip diaries collected from the same travelers in the Seattle area in 1989. The behavioral consequences of these models provide interesting and provocative findings that should be of value to transportation policy formulation and analysis.

• Journal of Korean Society of Transportation
• /
• v.20 no.3
• /
• pp.41-52
• /
• 2002

Most investment evaluations and economic assessments of road transport proposals in Korea omit a valuation of the time spent in transit for loads of freight. These days there were few attempts to estimate value of freight travel-time savings in Korea, but most of them included rail or marine with statewide area so that couldn't obtain unique travel-time savings for road freight transport. This study applied revealed Preference method and associated binominal logit models to estimate the value of travel-time savings in transit from an statewide survey of road freight transport in 1997. Data sets were segmented according to transport areas and business types. The results of this study showed that the value of freight travel-time savings varied wide ranges from 53,449 won per hour in urban transport to 29,397 won per hour in regional transport, that the use of statewide value of freight travel-time savings can drives wrong results into economic assessment, and that the use of adequate value of freight travel-time savings according to assessment area is very important.

• Journal of Korean Society of Transportation
• /
• v.26 no.5
• /
• pp.217-226
• /
• 2008

The term, travel-time reliability, refers to variations in journey time that travelers cannot predict. The purpose of this paper is to suggest a standard way to measure travel time reliability. A modified buffer time indicator is proposed. The index is represented by the difference between planned and actual travel times based on lognormal type travel time distribution. Using this framework, a constant function for railways and a negative parabola function for roads are discussed. The model developed is applied to the real data of Korean road and rail usages to empirically verify the methodology proposed. In this process, the unit value of travel time reliability for each group is estimated. The result of this research is expected to be helpful of conducting more cautious economic feasibility studies of transport.

• Journal of Korean Society of Transportation
• /
• v.22 no.6
• /
• pp.7-16
• /
• 2004

In mode choice decision, travelers consider not only travel time but also reliability of its modes. In this paper, reliability was expressed in terms of standard deviation and maximum delay that were measured based on triangular distribution. In order to estimate value of time and value of reliability, the Multinomial and Nested Logit models were used. The analysis results revealed that reliability is an important factor affecting mode choice decisions. Elasticity is used to estimate the impacts of the different policies and system improvements for water transportation mode. Among these policies, decision maker can assess and select the best alternative by doing the benefit and cost analysis based on a new market share, the value of time, and the value of reliability. Finally, a set of promising policies and system improvement of the water transportation were proposed.

• International Journal of Highway Engineering
• /
• v.11 no.3
• /
• pp.13-21
• /
• 2009

The traveler's travel pattern has significantly changed due to the social and economic changes. The travel time among the traveler's pattern is the limited resource. The travelers are trying to maximize the utility of travel with the least travel cost. So, the travelers travel with their own travel time budget in mind, which they can pay or choose to pay for the optimal maximization of the utility of the individuals. This research is to group and extract the specific factors which affect the travel time budget by utilizing the CART analysis method, which enables the analysis of traveler's characteristics and their interrelationship based on the data collected from "2002 Household Travel Practice Research" and then try to derive a model for estimating the traveler’s travel time budget. The result of CART analysis shows that the factors which affect the travel time budget include the traveler's age, size of house, type of house, type of employment, job and relation to the head of household. Considering the affecting factors derived, I developed an estimation model. From that model, we found that the age, size of house and type of house were positively (+) related to the travel time budget while the homeworking people who have less travel frequency as a type of employment were negatively (-) related to it. In particular, from the point of type of job, the housewives, children not yet old enough to attend schools and people who are working in the agricultural, or marine product industries were found to have the negative (-) value while the people who have the administrative, office, management jobs were found to have the positive (+) value.

• Journal of Korean Society of Transportation
• /
• v.26 no.5
• /
• pp.131-141
• /
• 2008

The objective of this study is to propose methods for determining optimal representative value and the optimal size of historical data for reliable travel time forecasting. We selected values with the smallest mean of forecasting errors as the optimal representative value of travel time pattern data. The optimal size of historical data used was determined using the CVMSE(Cross Validated Mean Square Error) method. According to the results of applying the methods to point vehicle detection data of Korea Highway Corporation, the optimal representative value were analyzed to be median. Second, it was analyzed that 60 days' data is the optimal size of historical data usedfor travel time forecasting.

• Journal of Korean Society of Transportation
• /
• v.30 no.6
• /
• pp.3-12
• /
• 2012

Additive willingness-to-pay (WTP) for leisure-travel time saving focused on the Iksan-Pohang Expressway and the Donghae Expressway was surveyed during the summer months to estimate the value of travel-time savings (VTTS) for non-business leisure trips. Travelers traveling between 2 and 3 hours on Iksan-Pohang Expressway had WTP of 723 won per 10 minutes of leisure-travel time savings and those traveling between 3 and 4 hours on Donghae Expressway had WTP of 854 won per the same. Based on this survey, we learned that WTP in leisure travel time savings increased with the total travel time. 300 effective samples for each expressway were collected, and estimation was separately conducted on the basis of Cox test.

• Journal of the Korean Society for Railway
• /
• v.20 no.2
• /
• pp.288-298
• /
• 2017

The system of high-speed and conventional railway vehicles is diversified, and significant technological development in performance has been achieved. This study analyzed the modal change characteristics; furthermore, it estimated the value of travel time by improving the travel time and cost for the passenger's perception of railway. In this study, we formulate a mode choice model for passengers and compare it with the mixed logit model which reflects individual taste variation. In addition, the validity of the analysis is presented through an estimation the value of travel time using the derived model. For this purpose, a stated preference survey was conducted with 510 people using public transportation. The benefits of time-saving can be accurately determined by estimating the value of time spent on the railway. Appropriate fares for public transportation can also be estimated.