• 응용통계연구
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• 제29권1호
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• pp.75-83
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• 2016

본 연구에서는 금융시장 통합화에 따른 금융 시장 전염을 생물학적 전염개념에 기초하여 분석하는 검정 방법론을 제시하였다. 금융 시장 통합화를 측정하기 위하여 U-통계량을 사용하였고, 금융 시장 전염 검정을 위하여 단일방정식 오차수정 모형을 중심으로 잠재 요인모형, 분위수 회귀모형과 런검정을 사용하였다. 시뮬레이션결과 단일방정식 오차수정 모형이 자기상관을 갖는 오차항을 포함한 선형 회귀모형에서 비교적 높은 수준의 적합도를 일관성 있게 보여 주고 있다.

• 좋은식품
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• 통권206호
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• pp.26-41
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• 2008

Recently, Korea have experienced numbers of FTAs with other countries, including Chile, EFTA(European Free Trade Association), Singapore, ASEAN(Association of South-East Asian Nations), and U.S. In particular, FTA with U.S. are expected to cause huge impact on food markets as well as agricultural sector in Korea. Many researches have analyzed and discussed about the impact on agricultural sector after Korean-U.S. FTA, but very small number of studies focus on the impact of Korean-U.S. FTA on food markets. The purpose of the paper is to discuss the impact of Korea-U.S. FTA on Korean dairy market. For the numerical simulations, this paper focus on the impact on cheese and butter markets. The results of numerical analysis in the paper will be helpful for the future research, because few (maybe no) studies conduct the numerical analysis to measure the impact of Korea-U.S. FTA on Korean food market.

• 복식문화연구
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• 제16권4호
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• pp.646-660
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• 2008

Korean export of fashion products to the U.S. has fallen off sharply after 2001. Now, Korean fashion companies have to develop higher value-added business. In the U.S., Korean-American fashion companies are taking a primary role in up-stream of the fashion industry. To cut the edge over the U.S. fashion companies, one of the solutions could be to build the business relationship with Korean fashion companies which reflect the recent trend rapidly and have high quality production. On this study, we investigated the marketing strategies of Korean-American fashion companies to seek to start business with Korean fashion companies and make suggestions for Korean fashion companies who want to enter into the U.S. market effectively. To analyze current situation of Korean export to the U.S. and the U.S. fashion industry, we considered various kinds of statistic data, publications and studies. And we performed in-depth interviews with 9 Korean-American fashion companies in LA from $9^{th}$ to $21^{st}$ of July. The results are as follows. first, Korean fashion companies should aim for high-end market with the products of high quality and design. Second, there should be professional agents who manage Korean small-medium fashion companies and connect them with Korean-American fashion companies. Third, Korean fashion companies who want to enter into the retail market of the U.S. have to decide the target market clearly and plan strategic and differentiated merchandising. Fourth, Korean fashion companies can specialize in product developing service like proposing a product or a merchandising line as a package including designs, fabric swatches, trims, production information, etc.

• 한국정보통신학회논문지
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• 제12권12호
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• pp.2131-2135
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• 2008

현재 유비쿼터스 헬스 시스템의 기술을 뒷받침할 수 있는 비즈니스 수익 모델의 개발 및 사업 유형화의 개발은 현실적으로 필요하며, 현재는 이러한 모델 개발을 시작하는 단계라 할 수 있다. 이러한 모델 개발과 관련하여 본 연구는 통신사업자 관점에서의 u-헬스 시장 규모 추정을 실시하였다. 이를 위해 가상시장 평가법(CVM)을 이용하여 유비쿼터스 헬스 시스템의 전체 시장에서 통신사업자 추정 비율을 적용하였다. 결론적으로 유비쿼터스 비즈니스 모델이 모바일에 근거한다는 가정 하에 유비쿼터스 시장에서는 통신사업자가 초기에 다른 시장의 참여자와의 전략적 제휴를 통해 계속적으로 시장점유율을 높일 수 있을 것으로 예측할 수 있다.

• The Journal of Asian Finance, Economics and Business
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• 제3권3호
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• pp.17-26
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• 2016

This study investigates daily stock market anomalies in Chinese stock market, using nine most representative stock indices over an eleven year time period spanning from pre-financial crisis era to six years into the financial crisis. This research is the first to test the presence of the day of the week effect on stock returns in the Chinese stock exchanges during the financial crisis. We find that the day of week effects have been strongly significant in Chinese stock exchanges since 2004. However, unlike the previously found negative Monday effect and positive Friday effect in the U.S., Chinese stock market shows positive returns on Mondays and negative returns on Tuesdays. More importantly, the negative Tuesday effect is only significant after the inception of financial crisis. The results indicate a positive effect on Mondays and a negative effect on Thursdays. More importantly, we find a negative Tuesday effect during the financial crisis, which suggests a spillover of the Monday effect from the U.S. stock market. Our results shed some light on the degree of market efficiency in the largest emerging capital market in the world, and its increasingly close relationship with the U.S. capital market.

• 아태비즈니스연구
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• 제11권2호
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• pp.15-25
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• 2020

Purpose - The purpose of this study is to examine whether the change of settlement procedures have an impact on the distribution of day of the week effect in the UK and French markets or not. U.K and France changed their systems from fixed settlement date systems to fixed settlement lag systems Design/methodology/approach - This study adopted the data of the specific stock market indices such as FTSE 100 in the U.K market and FRCAC 40 in the French market, This study constructs a test of the differences in mean returns across the days of the week by computing the regression equations for each country index. Findings - First, this study found that the evolving settlement procedures in stock exchanges have an effect on stock return of day of the week. Second, long-run improvements in market efficiency may have diminished the effects of certain anomalies in recent periods. Improvements in market efficiency and evolving settlement systems may cause the disappearance of the weekend effect. Research implications or Originality - The Implication of this study is that recent settlement systems contributed to the disappearance of the weekend effect and explains improvements in market efficiency and diminishments of market anomaly. This study may be the first study which examines whether evolving settlement systems have an effect on the disappearance of the weekend effect in the market or not.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.759-770
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• 2021

Using a DCC - GARCH model analysis, this paper examines the existence of financial contagion from the U.S. stock market to the Vietnamese and the Philippine stock markets during the global financial crisis and the COVID-19 pandemic crisis. We use daily data from the S&P 500 (U.S.), VN-Index (Vietnam), and the PSEi (the Philippines). As a result, there is no evidence of contagion from the U.S stock market to the Philippine stock market that can be found during global financial crisis, while the Vietnamese market is influenced by this effect. Besides, both these developing stock markets (the Vietnamese and Philippine stock markets) are influenced by the contagion effect in COVID-19 pandemic crisis. Another finding is that the contagion effect during the coronavirus pandemic crisis in Vietnam is smaller than that during the global financial crisis, however, the opposite is the case for the Philippines. It is noticed that the Philippines seems to be more affected by the contagion effect from the COVID-19 pandemic than Vietnam at the time of this study. Because financial contagion is important for monetary policy, asset pricing, risk measurement, and portfolio allocation, the findings in this paper may give some useful information for policymakers and investors.

• 아태비즈니스연구
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• 제13권4호
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• pp.135-149
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• 2022

Purpose - The primary objective of this article is to investigate the impact of U.S. monetary policy on institutional / individual / foreign investor reactions in the Korean stock market. Design/methodology/approach - This study employs a high frequency event study methodology to identify U.S. monetary policy shocks and quantify the impact of identified shocks on investor reactions. The dependent variable in the regression model is net stock purchase, while the explanatory variables are U.S. monetary policy shocks. The model is estimated for the period 2000-2019, including 156 FOMC meetings. Findings - Foreign investors immediately sell stocks in response to contractionary U.S. monetary shocks. They do not, however, react to anticipated changes in monetary policy rates, confirming the rationality of foreign investors. Individual investors demonstrate the opposite response, indicating that a non-trivial proportion of individual investors are irrational. Research implications or Originality - This study adds to the current literature on the effect of U.S. monetary policy on the Korean stock market. This study demonstrates a heterogeneous response to U.S. monetary policy shocks, validating the rational investment behavior of foreign investors, while individual investors exhibit a certain degree of irrationality. Methodologically, this study adds to the literature by quantifying the impact of U.S. monetary policy employing a sharper identification method allowing a simple and consistent estimation.

• 한국언론정보학보
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• 제78권
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• pp.141-176
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• 2016

본고는 기존의 미디어산업 분석에서 사용된 정태적 집중지표가 일부 유형에 한정되어 있다는 것에 주목하고 새로운 정태적 집중지표의 활용 가능성을 탐색하였다. 특히, 산업 내의 불평등 구조를 포착하는 타일지수는 미디어 산업의 정태적 분석에 있어서 유용하게 사용될 수 있다. 동태적 경쟁을 포착하는 여러 유형의 이동지표도 미디어 산업을 동태적 시각에서 분석하는 데에 있어서 다양한 정보를 제공한다. 타일지수와 이동지표들을 활용하여 2001년에서 2015년까지 전국종합일간지 시장구조를 분석한 결과는 다음과 같다. 시장규모 변화 추세를 보면 매출액 규모는 감소했다. 반면에 자산 규모는 U자형의 추세를 보였는데, 이는 자기자본비율의 증가에 기인한다. 또한 발행부수 및 유료부수 규모도 감소했다(2010~2014년). 자산 기준으로 보면 시장집중도 뿐만 아니라 조중동 그룹과 기타 그룹 간 불균등도가 이명박 정부에서 가장 높았다. 매출액 기준으로 보면 시장집중도는 노무현 정부에서 가장 낮았으며 그룹 간 불균등도는 박근혜 정부 초기에서 가장 높았다. 전반적으로 신문사들의 자산과 매출액은 각각 평균으로 수렴하려는 이동성을 보였다. 그리고 자산에 비해 매출액으로, 매출액에 비해 발행부수로 시장점유율을 측정할 경우에 동태적 경쟁의 정도는 약하게 나타났다.

• 한국의상디자인학회지
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• 제5권2호
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• pp.31-46
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• 2003

The purpose of this study was to explore the ways of improving Korean apparel firms' competitiveness by examining the Korea's number one trading partner U.S. apparel industry. Especially, the Los Angeles area apparel industry which is the second largest and the primary market center on the west coast was analysed. The following strategies are suggested to Korean apparel firms to function more effectively in incleasingly competitive U.S. markets: l)Basics can be produced in lower wage countries meanwhile quick turnaround and high quality works can be produced either in Korea or U.S. 2)Manufacturers might try to have direct relationship with powerful retailers who have their own private labels of store-brand lines. 3)Apparel companies can open market showrooms in the California Market Center. For small firms they can contact with independent representatives who receive commissions for showing lines for manufacturers or rent space for showing the lines during market weeks. 4)Apparel firms can contact buying offices to introduce their products to retail buyers. 5)Korean firms can contact Korean-American apparel firms to gain easy access to U.S.Market.