• Journal of applied mathematics & informatics
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• v.6 no.2
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• pp.539-552
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• 1999

An order-level inventory model for a perishable product with a time-dependent demand is developed for a fixed planning pe-riod allowing backlogging in all cycles within the said period. The market demand is assumed to decrease exponentially as time elapses. The average system cost is derived and its optimization procedure is illustrated with a numerical example. Sensitivity of the optimal so-lution to changes in the values of different parameters of the system is also analysed.

• Journal of Platform Technology
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• v.11 no.4
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• pp.62-70
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• 2023

This research is one of a series of studies to develop a system to help agricultural producers and sellers determine when and how much to ship products to the wholesale market to maximize their profit. The purpose of this research is to incorporate the time-varying quality change effect, which was not used in the previous agricultural and marine product shipping model. The researchers developed four models to measure the quality change effect: quality declining steadily over time, quality declining rapidly at first and then slowly, quality declining first slowly and then rapidly, and quality rising over time and then decreasing again. According to the results of an empirical analysis of the effect of each model's quality change effect on shipments for apples traded in the Garak Wholesale Market from 2014 to 2021, statistical significance was found in the quality change effect of all four models. And there was no significant difference in explanatory power between the four models. Therefore, any of the four models should be introduced into the decision-making system for shipping time for apples.

• Journal of Distribution Science
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• v.13 no.5
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• pp.71-82
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• 2015

Purpose - The purpose of this study is to investigate risk price implied from the pricing kernel of Korean stock distribution market. Recently, it is considered that the quantitative easing programs of major developed countries are contributing to a reduction in global uncertainty caused by the 2007~2009 financial crisis. If true, the risk premium as compensation for global systemic risk or economic uncertainty should show a decrease. We examine whether the risk price in the Korean stock distribution market has declined in recent years, and attempt to provide practical implications for investors to manage their portfolios more efficiently, as well as academic implications. Research design, data and methodology - To estimate the risk price, we adopt a non-parametric method; the minimum norm pricing kernel method under the LOP (Law of One Price) constraint. For the estimation, we use 17 industry sorted portfolios provided by the KRX (Korea Exchange). Additionally, the monthly returns of the 17 industry sorted portfolios, from July 2000 to June 2014, are utilized as data samples. We set 120 months (10 years) as the estimation window, and estimate the risk prices from July 2010 to June 2014 by month. Moreover, we analyze correlation between any of the two industry portfolios within the 17 industry portfolios to suggest further economic implications of the risk price we estimate. Results - According to our results, the risk price in the Korean stock distribution market shows a decline over the period of July 2010 to June 2014 with statistical significance. During the period of the declining risk price, the average correlation level between any of the two industry portfolios also shows a decrease, whereas the standard deviation of the average correlation shows an increase. The results imply that the amount of systematic risk in the Korea stock distribution market has decreased, whereas the amount of industry-specific risk has increased. It is one of the well known empirical results that correlation and uncertainty are positively correlated, therefore, the declining correlation may be the result of decreased global economic uncertainty. Meanwhile, less asset correlation enables investors to build portfolios with less systematic risk, therefore the investors require lower risk premiums for the efficient portfolio, resulting in the declining risk price. Conclusions - Our results may provide evidence of reduction in global systemic risk or economic uncertainty in the Korean stock distribution market. However, to defend the argument, further analysis should be done. For instance, the change of global uncertainty could be measured with funding costs in the global money market; subsequently, the relation between global uncertainty and the price of risk might be directly observable. In addition, as time goes by, observations of the risk price could be extended, enabling us to confirm the relation between the global uncertainty and the effect of quantitative easing. These topics are beyond our scope here, therefore we reserve them for future research.

• Asian-Australasian Journal of Animal Sciences
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• v.12 no.7
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• pp.1123-1128
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• 1999

Sheep meat is the most expensive meat in developed countries. Consumption is dependent on cultural factors and will increase as population and incomes grow. In the main exporting countries (New Zealand and Australia), sheep numbers are decreasing as the market for wool is declining. Sheep meat production will develop in small and medium scale commercial systems, close to their markets.

• The Journal of Fisheries Business Administration
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• v.39 no.1
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• pp.1-16
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• 2008

For the last few years, the wholesale market system in Japan has been experiencing a lot of changes in the related sectors. The greatest changes in the environments surrounding the wholesale market were enlargement of the producers' cooperatives, increase of fisheries products marketed in the outside of the wholesale market system, and management aggravation of the related businessmen, These changes resulted in the revision of the wholesale Market Law in 1999 to cope with the social needs successfully. Recently, fisheries wholesale markets in Japan have a few problems like declining of earning power, weakening of management constitution, etc. Consequently, Japanese government presents policy for enforcing the competition power through reform laws related with fisheries wholesale markets. Also the fisheries wholesale markets have been trying variety and active countermeasures like undertaking, merger, coalition, etc. to overcome the crisis.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.33 no.12
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• pp.73-83
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• 2017

Due to the changes in the contemporary society, small-scale traditional markets have declined and lost their functions as the center of neighborhood commercial and cultural affairs. While most traditional markets are deteriorating, there exist rare cases of neighborhood small-scale traditional markets that continuously maintain their vitality and popularity. This paper examines urban spatial characteristics of those markets. As for the cases, this paper inventoried eighteen such markets in Gwanak-gu, Seoul. The research methods include literature reviews, on-site investigation of total 18 such markets, and participant observations. The findings of this paper are as follows: There are distinctive differences in the urban-spatial characteristics of physical environmental factors between the revitalized markets and declining markets. In terms of neighborhood and commercial environment, the franchised super-markets are not necessarily in competition with small-scale traditional markets. The former often has symbiotic relationship the latter, if the small scale traditional markets are strategically located in between residential areas and subway stations, providing active pedestrian networks. There are many outdoor display stands in the revitalized markets, while the declining markets rarely have them. The market improvement projects such as transforming the open space into arcade space, hardly have effects on revitalization of the small-scale traditional markets.

• Fashion & Textile Research Journal
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• v.24 no.1
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• pp.108-116
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• 2022

The children's clothing market continues to grow in Korea, despite the declining total fertility rate. This study aims to investigate the changes in Korean children's clothing market according to the launching time of brands. To this end, it analyzed 90 children's clothing brands in 2019. The results of this study are as follows. These children's clothing brands had been actively launched since 2000. Although the total fertility rate in Korea has dropped to approximately one percent, the number of children's clothing brands has increased significantly each year since 2005. Sixteen children's clothing brands were launched between 2005 and 2009, twenty-three were launched between 2010 and 2014, and thirty-five were launched between 2015 and 2019. Various brands are competing in Korean children's clothing market. Overseas brands have continued to expand their market share while the market share of domestic brands has decreased continuously. Clothing brands, including adult clothing brands other than children's clothing brands, are actively entering Korean children's clothing market. Many overseas, luxury, and sportswear brands have entered Korean children's clothing market. Many sportswear brands have launched children's clothing brands, with a significant increase since 2013. The results of this study show that Korean children's clothing market has changed from a local market to a global fashion market.

• Journal of the Korean Operations Research and Management Science Society
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• v.28 no.1
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• pp.11-23
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• 2003

This study Investigates the short and long-run dynamic relationships between the domestic and U.S. stock markets for the period of declining stock prices. It Is well known that the domestic stock market variations are largely caused by the U.S. stock market movements. Multivariate causal tty test Is utilized to examine the lead-lag relationships among four stock prices of KOSPI and KOSDAQ In the domestic part and DOWJONES and NASDAQ In the U.S. part. When the stock prices tend to decrease In the long run, It Is found that both KOSPI and KOSDAQ have closer relations with NASDAQ than DOWJONES. When both of domestic stock markets are severely fluctuate, bidirectional causal relationships appear to exist between NASDAQ and each of KOSPI and KOSDAQ. On the other hand. when the domestic stock markets are relatively stable, unidirectional causality Is found to exist between NASDAQ and each of KOSPI and KOSDAQ. which is explicitly validated by the analysis of variance decomposition.

• Land and Housing Review
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• v.6 no.4
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• pp.165-175
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• 2015

This study is focusing on the needs to introduce policy decision making based on identification of the definition for 'business life cycle' and 'public enterprises' for proper public enterprises management. For this purpose, the study is planning to define categorical variables for enterprise life cycle and provide basic data for public enterprises management policy. This study explored 'Korea Expressway Corporation', 'K-water', 'Korea Railroad', 'Korea Land and Housing Corporations', because of they are the public institutions recently underwent 'management normalization policy' due to rapidly increasing debt. First, there follows the analysis on priority and standard of categorical variables for quasi-market oriented SOC public enterprise life cycle by using AHP and frequency study on expert survey. Next, this study investigated and analyzed the enterprises management plan for expected 'declining period' through forecasting 'declining period' by conducting 2nd expert survey.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.42 no.2
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• pp.273-279
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• 2022

In a recent decade, university closures have been a critical regional issue as a total of 17 universities have been closed while many more are facing closure in Korea. The local impact of university closures in the regions with declining populations has been far more detrimental and considered as one of the significant factors of the declining local economy, especially in the neighboring residential sectors. This study has taken an empirical approach to investigate the local impact of university closure on the housing market through a case of Dong-Pusan College in Busan, Korea. The study utilized Difference-in-Difference (DiD) to analyze the housing prices in proximity to the university and identified several factors associated with the local decline in the housing market in relation to university closure.