• Communications for Statistical Applications and Methods
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• 제25권4호
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• pp.397-409
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• 2018

The world financial markets are inter-linked in ways that varies according to market and time. We examine the causality of change focusing on the Korean market as related to the U.S. (S&P 500), Japan (Nikkei 225), Hong-Kong (HSI), and European (DAX) markets. In order to capture time-varying causality running from and to the Korea stock market, we apply the Granger causality test under a VAR model with a wild bootstrap rolling-window approach. We also propose a new concept of a significant causality ratio to measure the intensity of the Granger causality in each time unit. There are many asymmetric strengths in mutual Granger causal relationships. Moreover, there are cases with significant Granger causal relations only in one direction. The period with the most severe Granger causality both running from and to the KOSPI market is the GFC. The market that formed the two-way Granger causal relationship with the KOSPI market for the longest period is the S&P 500. The HSI and DAX markets have the strongest two-way Granger causal relationship with the KOSPI shortly after 2000, and the Nikkei market had the strongest two-way Granger causal relationship with the KOSPI market before the Asian financial crisis.

• 한국산학기술학회논문지
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• 제21권1호
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• pp.725-731
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• 2020

이 연구는 한·미 FTA 발효 이후 오렌지가 수입되어 집중적으로 판매되는 시기인 1월부터 5월까지 초점을 맞춰 오렌지 수입량 증가가 국내산 과일에 미치는 영향을 분석하고자 하였다. 본 연구에서는 미국산 오렌지와 경합 되는 국내산 과일로는 감귤류만으로 한정하였고, 그중 미국산 오렌지와 소비 시기가 일치하는 한라봉을 분석대상으로 선정하였다. 이를 위해 동태 축차적 시뮬레이션 모형을 구축하여 한·미 FTA 사후 영향평가 및 한라봉 시장의 중장기 전망을 실시하였다. 또한, 한라봉 시장에 미치는 주요 정책 시뮬레이션을 수행하여 각 시나리오별 파급영향을 계측하였다. 사후 영향평가결과, 한라봉은 주 출하기인 12월부터 2월 사이에는 오렌지 계절관세의 영향은 없으나 TRQ 물량의 영향으로 2012년~2017년 실질 조수입이 연평균 21.9억 원 감소한 것으로 나타났고, 6년 감소 누계액은 131.5억 원 수준인 것으로 나타났다. 주요 정책 시뮬레이션 분석결과, 미국의 오렌지 작황에 따른 수입단가 변화 및 한라봉 수출량 증대는 한라봉 시장의 규모를 증대시키고 이에 따라 소득증대 효과를 가져오는 것으로 나타났다.

• 마케팅과학연구
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• 제18권1호
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• pp.141-156
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• 2008

본 연구는 미국의 자동시장의 시장구조를 분석한 것이다. 자동차 시장의 구조분석는 제품의 특성이 냐내구재라는 점에서 의의가 있다. 그 동안 시장구조분석은 일반포장소비재를 중심으로 분석되어 왔으나 자동차의 시장구조분석는 자동차의 구매주기가 장기간이며, 다음 구매는 많은 소비자가 상위차급으로 이동한다는 점에서 기존의 분석에 사용되었던 상표전환자료를 사용하는데 한계가 있다. 이 때문에 본 연구에서는 구매고려상표군을 중심으로 우사성지수로 사용하여 시장구조분석을 하였다. 자료는 미국의 자동차구매에 관한 이차자료를 활용하였으며, 자료의 특성상 일부차종에 한정하여 사용하였다. 크게 세가지 형태-비용, 비용-형태, 비구조화의 가설적 시장을 비교분석하였으며, 결과적으로 형태-비용 구조가 가장 우수한 것으로 판단되었다.

• 기술혁신학회지
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• 제1권2호
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• pp.192-207
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• 1998

This paper focuses on the relationship between innovation and export performance of technology-based firms in Korea. This study analyses the relationship between innovative activity and firm's performances using a sample of 760 technology-based firms in Korea. As for the firm's performance indicators, export is employed. The empirical results support that innovation has a positive effect on firm's export performance. However, for small and medium firms, the relationship between innovative activity and export performance is an U-shape quadratic form, which shows that small firms takes a minimum innovative expenditure in order to access the abroad market. Also, with product differentiation, innovative firms tends to devot more to domestic market than to abroad market. Therefore, it can be concluded that innovative activity builds market power and accelerates export performance. And product differentiation through advertising expenditure make innovative firms less exporting.

• 통상정보연구
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• 제12권1호
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• pp.353-373
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• 2010

This paper researched on countries effect of country-of origin product of the Korea customer. Also This study was analysis to purchase frequency and purchase place for products of the U.S.A, Japan, China, EU, and Chile in Korea market. That is to say, this study is reviewing on country image subject including country of origin. According to WTO rule, The rules of origin should be administered in a consistent, uniform, impartial and reasonable manner. The objective of this article is to explore the relationship between country of origin and consumer effect using empirical analysis. The country of origin was divided into country of design, assembly, and parts. A survey questionnaire was sent to 250 customer in Korea market, and 220 usable responses were obtained. The 213 samples are analyzed with the countries origin effect. Multiple regression results show that the U.S.A and Japan product are positively affected by the purchase effectiveness of Korea customer's. However, The EU, China and Chile products do not affect effectiveness in Korea market. This article contributes to a understanding of effects of country-or-origin. When the nation image has been made, marketing approaches considering both image of country of manufacture origin and motivational focus can be utilized simultaneously.

• Asian Journal of Business Environment
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• 제9권3호
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• pp.5-9
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• 2019

Purpose - This paper examines whether fiscal and monetary expansion would affect output in Australia. Research design, data, and methodology - An extended IS-LM model which describes the equilibrium in the goods market and the money market is applied. The real effective exchange rate and the real stock price are included in order to determine whether there may be any substitution or wealth effect. The sample consists of Annual data ranging from 1990 to 2018. The GARCH process is used in empirical work to correct for potential autoregressive conditional heteroscedasticity. Results - Expansionary fiscal policy reduces output; whereas, expansionary monetary policy raises output. In addition, real appreciation of the Australian dollar, a lower U.S. interest rate, a higher real stock price or a lower expected inflation would increase output. The finding that expansionary fiscal policy has a negative impact on real GDP suggests that the negative crowding-out effect on private spending dominates the positive impact. Conclusions - Fiscal prudence needs to be pursued. Real depreciation of the Australian dollar hurts output. Monetary tightening in the U.S. generates a negative effect on Australia's output. A healthy stock market is conducive to economic growth as higher stock prices tend to result in the wealth and other positive effects, increasing consumption and business spending.

• 대한가정학회지
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• 제27권2호
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• pp.21-30
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• 1989

The U.S. response to increased international competition was examined in the present study in order to have more comprehensive understanding of the U.S. textile and clothing market. The method employed to conduct the study was the analysis of the written materials, interview with professionals, and the survey of the actual situations of the U.S. textile and apparel industries. The results are summarized as follows; 1. Official U.S. textile and apparel trade policy has been quite has been quite protective since 1950's. The protective trend has been embodied in Japan Cotton Textile Export Control (reciprocal trade agreement signed by the U.S. and Japan in 1957), Short Term Arrangement Regarding International Trade in Cotton Textiles, Long Term Cotton Textile Arrangement (1962∼1973), and Multi-fiber Arrangement (1974∼). Other governmental programs designed to improve the competitiveness of the U.S. textile and apparel industries include Long-term Textile and Apparel Products Export-expansion Program, and 807 Trade to take labor cost advantage. 2. Along with the quite protective governmental trade policy, the corporate responses have been made such as new sourcing mixes, investment in technology, specialization in the textile and apparel industries, and recent strategies pursued by retailer's. The apparel industry was subject to pressure from imports that increased at moderate levels, and the U.S. textile and apparel industries have made extensive efforts to adjust to the increasing competition from abroad. The textile and apparel industries have taken steps to increase labor productivity through automation, to speed management to create and introduce new products and new methods, and have lowered indirect overhead costs. Several industrywide promotion campaigns have attempted to establish a greater public awareness of international competition and to develop a preference for apparel produced in the United States. 3. Regarding these response of the U.S. and other situations of world textile and apparel trade market, much of the sense of crisis that pervades Korean textile and apparel industries has to do with the problem of adjusting government and corporate policy. Textile and apparel industry of Korea faces on going pressure to reduce costs, improve quality, increase service, develop new markets, diversify, and differentiate itself from its foreign competitors. The strategies that have been adopted in the past have generally worked in the past, but the time has come to adopt strategies that reflect present conditions. If this is not done, then we stand to lose large segments of these industries, which once lost will not easily be regenerated.

• Journal of Korea Trade
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• 제25권2호
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• pp.22-45
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• 2021

Purpose - This study aims to identify new attributes by analyzing reviews conducted by global automaker customers and to examine the influence of these attributes on satisfaction ratings in the U.S. automobile sales market. The present study used J.D. Power for customer responses, which is the largest online review site in the USA. Design/methodology - Automobile customer reviews are valid data available to analyze the brand personality of the automaker. This study collected 2,998 survey responses from automobile companies in the U.S. automobile sales market. Keyword analysis, topic modeling, and the multiple regression analysis were used to analyze the data. Findings - Using topic modeling, the author analyzed 2,998 responses of the U.S. automobile brands. As a result, Topic 1 (Competence), Topic 5 (Sincerity), and Topic 6 (Prestige) attributes had positive effects, and Topic 2 (Sophistication) had a negative effect on overall customer responses. Topic 4 (Conspicuousness) did not have any statistical effect on this research. Topic 1, Topic 5, and Topic 6 factors also show the importance of buying factors. This present study has contributed to identifying a new attribute, personality. These findings will help global automakers better understand the impacts of Topic 1, Topic 5, and Topic 6 on purchasing a car. Originality/value - Contrary to a traditional approach to brand analysis using questionnaire survey methods, this study analyzed customer reviews using text mining. This study is timely research since a big data analysis is employed in order to identify direct responses to customers in the future.

• 통상정보연구
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• 제11권3호
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• pp.265-286
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• 2009

Dumping describes the practice of international price discrimination whereby a producer or exporter sells merchandise in an export market at less than fair value. The U.S. antidumping statutory framework is embodied in the Tariff Act of 1930. The Act states that "dumping" refers to the sale or likely sale of goods at less than fair value. 19 U.S.C. $\S$ 1677(34). The Commerce Department and the Commission are jointly responsible for administering the antidumping law. Commerce determines whether foreign merchandise is being sold in the United States at less than fair value, and the Commission determines whether a domestic industry producing a product like the imported merchandise has been materially injured or threatened with material injury by reason of imports of that product. Recently, in U.S. v. Eurodif, the Supreme Court held the question whether the Commerce can reasonably determin that foreign merchandise has been sold within the meaning of the antidumping law in U.S.. Should 19 U.S.C. Section 1673, which calls for "antidumping" duties on foreign goods, but not services, that sell at less than fair value in the U.S., apply to imported low enriched uranium? Yes. In a unanimous opinion written by Justice David H. Souter, the Supreme Court held that the Commerce Department's view of imported low enriched uranium, as the sale of goods rather than services, was permissible. It reasoned that, since 19 U.S.C. Section 1673 did not specify whether it applied to the production of low enriched uranium, it was left to the reasonable interpretation of the Commerce Department to determine. Accordingly, the Court found the Commerce Department interpreted the statute reasonably.

• Journal of Korea Trade
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• 제23권7호
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• pp.147-155
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• 2019

Purpose - As the U.S.-China trade war has become considerably worse, the Chinese government is considering applying non-tariff barriers to trade, especially local contents rule. The main purpose of this research is to check whether it is suitable for Korean investors to invest in the current Chinese capital market. Design/methodology - In order to check the stability of the recent Chinese capital market, we investigated the behavior of foreign equity investment (including Korean equity investment) in the Chinese capital market after China announced the Shanghai-Hong Kong Stock Connect (SH-HK Connect). In this paper, we researched whether international portfolio investment would or would not contribute to an increase the volatility of an emerging market's stock market (Chinese capital market) when foreign investors make investment decisions based on the objective of short-term gains by rushing into countries whose markets are booming and fleeing from countries whose markets are falling. Findings - The empirical results indicate that foreign investors show strong, negative feedback trading behavior with regard to the stock index of the Shanghai Stock Exchange (SSE), and when the performance of foreign investors in the Chinese stock market was fairly good. Also, we found evidence that the behavior of foreign investors significantly decreased volatility in SSE stock returns. Consequently, the SH-HK Connect brought on a win-win effect for both the Chinese capital market and foreign investors. Originality/value - It appeared that the Chinese capital market was very suitable for Korean investors after the China's declaration of the SH-HK Connect. However, the win-win effect was brought on by the Chinese government's aggressive capital control but the capital controls could possibly cause financial turmoil in the Chinese capital market. Therefore, Chinese reform in industrial structure and the financial sector should keep pace with suitable capital control policies.