• Culinary science and hospitality research
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• v.23 no.7
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• pp.149-158
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• 2017

This study aimed to develop food truck concept based on demographic characteristics by using conjoint analysis. This study investigated the attributes importance and attributes level based on gender, age and income. Results of the research were following. First, as a result of analyzing the attributes importance and attributes level of gender, age, and income, it found that the price was more important than the type of food. The shape of food, a design of the truck and service are the following features of the attributes importance. Second, in the entire of market analysis, packaging was the most important factor next to the price and the food shape. Third, according to gender analysis, male and female prefer Korean style with price range of 5,000~7,000 won. Men prefer take - out menu such as plastic packaging and traditional truck design. Also, the study showed that women prefer having a meal at restaurant, paper packaging style and modern design. Fourth, according to the age analysis results, all of ages group prefer the price range of 5,000~7,000 won except for people who are 60s and beyond. Also, in the food type, people prefer Western style in their 20s, Japanese style in their 30s and Korean style in their 40s, 50s, 60s. Fifth, according to income analysis, Western menus with income of 4,000,000~5,000,000won are preferred a price range of 7,000~10,000won and Japanese menus with income more than 5,000,000won are preferred a price range of 7,000~10,000won.

• The Journal of the Convergence on Culture Technology
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• v.9 no.3
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• pp.281-286
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• 2023

This study analyzed the causal relationship between housing sales prices and jeonse prices in Seoul, specifically in the Gangnam and Gangbuk neighborhoods. The time-invariant Granger causality test showed bidirectional causality between the sales price and the jeonse price in Seoul and Gangbuk, but no bidirectional causality was found in Gangnam. However, the time-varying Granger causality test showed a Granger causal relationship between the housing jeonse price and the sales price for the entire period after 1993 in all three areas. Notably, the causal effect of jeonse prices on sales prices has been continuous in Gangnam since 2010. These analysis results suggest that an increase in liquidity supply to the jeonse market could increase volatility throughout the housing market, given the strong influence between the sales and jeonse markets in both directions.

• Journal of the Korea Society of Computer and Information
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• v.7 no.2
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• pp.196-204
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• 2002

This paper examines the price discovery role of the KOSPI 200 futures index for its cash index. It was used the intrady data for KOSPI 200 and futures index from July 1998 to June 2001. The existing Preceding study for KOSPI 200 futures index was used the data of early market installation, but this study is distinguished to use a recent data accompanied with the great volume of transaction and various investors. We established three hypothesis to examine whether there is the price discovery role in the KOPSI 200 futures index and the characteristics of that. First, to examine whether the lead-lag relation is induced by the infrequent trading of component stocks, observations are sorted by the size of the trading volume of cash index. In a low trading volume, the long lead time is reported and the short lead time in a high volume. It is explained that the infrequent trading effect have an influence on the price discovery role. Second, to examine whether the lead-lag relation is different under bad news and good news, observations are sorted by the sign and size of cash index returns. In a bad news the long lead time is reported and the short lead time in a good news. This is explained by the restriction of"short selling" of the cash index Third, we compared estimates of the lead and lag relationships on the expiration day with those on days prior to expiration using a minute-to-minute data. The futures-to-spot lead time on the expiration day was at least as long as other days Prior to expiration, suggesting that "expiration day effects" did not demonstrate a temporal character substantially different form earlier days. Thus, while arbitrage activity may be presumed to be the greatest at expiration, such arbitrage transactions were not sufficiently strong or Pervasive to alter the empirical price relationship for the entire day. for the entire day.

• Korea Real Estate Review
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• v.28 no.2
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• pp.7-20
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• 2018

This paper has statistically analyzed the determining factors that affect office building sale prices by focusing on strata property sales through the hedonic price function. In this study, 1,171 office building transaction cases were analyzed in Seoul from 2000 to 2017. To determine the influence of various factors on office building sale prices, independent variables included factors that represented macroeconomic characteristics, locational characteristics, physical characteristics, and deal characteristics. The analysis of the strata property sales, which is a major concern in this study, showed that strata property sales enjoyed a discount of about 1.56 million won per pyeong out of the entire sales. In terms of the discount rate, strata property sales were at a 12.6% discount compared to entire property sales, so it was found that strata property sales significantly influenced office building selling price. This is due to the fact that the owner of the strata property encounters more difficulties in distributing cost than the sole proprietor in terms of property rights and the exercise of management rights. The results of this study are expected to contribute in securing transparency in transactions and risk management strategies in the future.

• Journal of Distribution Science
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• v.17 no.7
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• pp.55-63
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• 2019

Purpose - This paper examines the value relevance of socially responsible activities in the Korean retail firms. Recent studies predict positive relationships between socially responsible activities and the value of corporation. Research design, data, and methodology - We use the environmental score, social score, governance score and the sum of these three scores to represent a fim's effectiveness of socially responsible activities. These scores are published by the Korean Corporate Governance Service. This paper adopts a share price valuation model to evaluate the effect of socially responsible activities on a firm's share price, which controls for the book value of assets and current earnings. The ordinary least square method is employed to examine the relationship. The sample of Korea retail firms is examined from 2011 to 2016. We also conduct sub-sample analysis based on the categorization of chaebol affiliates and non-chaebol affiliates. Results - The entire sample analysis finds neither negatively nor positively significant relationship between socially responsible activities and the value of a corporation. In contrast, our examinations find a significantly positive valuation effect of social score within non-chaebol retail firms. Conclusions - The results weakly support the positive valuation effect of socially responsible activities. The results are consistent with recent studies that highlight heterogeneous effects of socially responsible activities on corporate policies and valuation.

• Journal of Navigation and Port Research
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• v.46 no.5
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• pp.441-448
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• 2022

The aim of this study was to examine determinants of secondhand Bulk carrier and Oil tanker prices. This study compiled S& P transaction data taken from the Clarksons Research during J anuary 2018 to April 2022 to see how independent variables influenced secondhand ship prices. In the secondhand ship pricing model of entire segments, size, age, and LIBOR showed significant effects on prices. A vessel built in J apan and Korea was traded at a higher price than a vessel built in other countries. In the bulk segment, size, age, Clarksea index, LIBOR, and inflation were meaningful variables. In the Tanker segment, unlike Bulk carrier, only size and age were useful variables. This study performed regression analyses for various sizes of Bulk carriers and Oil tankers. It verified that impacts of variables other than ship size and age were significantly associated with ship type and size while macroeconomic variables had no influence except for bulk carriers. By applying diverse variables affecting secondhand ship price estimation according to various sizes of Bulk carriers and Oil tankers, this study will expand the scope of practical application for investors. It also reaffirms prior research findings that the secondhand ship market is primarily market-driven.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.22 no.1
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• pp.39-51
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• 2023

This study uses the hedonic price approach to estimate the economic value of a parking lot in an apartment building. In this study, a logarithmic function was applied to estimate the price elasticity of parking spaces. Variables were composed of an independent variable (apartment house characteristics) and a dummy variable (external characteristics). Detailed variables include exclusive area, number of floors, waterproofing, number of bathrooms, and number of parking spaces per household. Based on the results of the analysis for the entire year, the increase in the number of parking spaces affects a price increase of approximately 25.97 million won to 59.68 million won, which can be interpreted as the economic value of the parking space. However, since Hanam City was specified in this study, there is a limit to generalizing the current results and using them for project evaluation.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.51-61
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• 2023

Purpose - Since COVID-19, the government's expansion of liquidity to stimulate the economy has resulted in an increase in private debt and an increase in asset prices of such as real estate and stocks. The recent sharp rise of the US Federal fund rate and tapering by the Fed have led to a fast rise in domestic interest rates, putting a heavy burden on the Korean economy, where the level of household debt is very high. Excessive household debt might have negative effects on the economy, such as shrinking consumption, economic recession, and deepening economic inequality. Therefore, now more than ever, it is necessary to identify the causes of the increase in household debt. Design/methodology/approach - Main methodology is regression analysis. Dependent variable is household loans from depository institutions. Independent variables are consumer price index, unemployment rate, household loan interest rate, housing sales price index, and composite stock price index. The sample periods are from 2017 to May 2022, comprising 72 months of data. The comparative analysis period before and after COVID-19 is from January 2017 to December 2019 for the pre-COVID-19 period, and from Jan 2020 to December 2022 for the post-COVID-19 period. Findings - Looking at the results of the regression analysis for the entire period, it was found that increases in the consumer price index, unemployment rate, and household loan interest rates decrease household loans, while increases in the housing sales price index increase household loans. Research implications or Originality - Household loans of depository institutions are mainly made up of high-credit and high-income borrowers with good repayment ability, so the risk of the financial system is low. As household loans are closely linked to the real estate market, the risk of household loan defaults may increase if real estate prices fall sharply.

• Korea Real Estate Review
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• v.24 no.1
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• pp.39-52
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• 2014

This study examines the degree of global co-movement & spillover effect among the housing price of ten major countries of OECD including Korea, based on the 3 hypothesis. The data used in this study is quarterly house price index of OECD countries from 1975 to 2012. VAR model is used to analyze the co-movement, and Granger causality methodology is used for the analysis of Spillover Effect. It is found that entire period of study is that the global house prices showed the co-movement, but the coefficient was weak. Since 2008 global financial crisis, the co-movement increased significantly and the adjusted R-square of this model increased 78% compared to the entire period (1975-2012). In general, all hypotheses in this study were significant, and the common shock hypothesis were most significant. In case of Korea, the degree of co-movement was weak compared to the other countries and spillover effect was independent since 2008.

• Journal of the Economic Geographical Society of Korea
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• v.25 no.1
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• pp.147-170
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• 2022

This article analyzes the spillover effects by dividing the weekly rate of return on apartment prices in 70 si-gun-gu (local area) in the Capital Region into three periods: the entire period (April 2008~August 2021); the period before the price surge (April 2008~October 2018); and the period of price surge (November, 2018~August 2021), based on a consideration of the cycle of fluctuations in apartment sales prices and the timing of the current government's policy interventions. The results obtained from this analysis are summarized as follows. First, the analysis of the spillover effects is similar to or different from the results of existing work depending on the period. The analysis of the spillover effects on the entire period and the period before the price surge shows that the 'Gangnam' effect exists in the apartment market in the Capital Region. On the other hand, the analysis of the spillover effects on the period of price surge reveals different results than before. The spillover effect index calculated through the analysis of the rolling sample decreases during the decline in the cycle of apartment sales prices, while the opposite trend is shown during the upward period. Looking at the timing between the peak of the spillover effect index and policy interventions, it appears that the government's policy interventions took place after the peak of the spillover effect index in 2017, before the peak in 2018 and 2019, and around or after the peak after 2020.