• Journal of Korea Trade
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• 제27권5호
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• pp.167-198
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• 2023

Purpose - This paper aims to compare and analyze the co-movements and information spillover effects between the international commodity futures markets and the South Korean stock markets during the COVID-19 and the 2008 financial crises. Design/methodology - The DCC-GARCH model is used in the co-movements analysis. In contrast, the BEKK-GARCH model is used to evaluate information spillover effects. The statistical data used is from January 1, 2005, to December 31, 2022. It comprises the Korea Composite Stock Price Index data and daily international commodity futures prices of natural gas, West Texas Intermediate crude oil, gold, silver, copper, nickel, soybean, and wheat. Findings - The results of the co-movement analysis were as follows: First, it was shown that the co-movements between the international commodity futures markets and the South Korean stock markets were temporarily strengthened when the COVID-19 and 2008 financial crises occurred. Second, the South Korean stock markets were shown to have high correlations with the copper, nickel, and crude oil futures markets. The results of the information spillover effects analysis are as follows: First, before the 2008 financial crisis, four commodity futures markets (natural gas, gold, copper, and wheat) were shown to be in two-way leading relationships with the South Korean stock markets. In contrast, seven commodity futures markets, except for the natural gas futures market, were shown to be in two-way leading relationships with the South Korean stock markets after the financial crisis. Second, before the COVID-19 crisis, most international commodity futures markets, excluding natural gas and crude oil future markets, were shown to have led the South Korean stock markets in one direction. Third, it was revealed that after the COVID-19 crisis, the connections between the South Korean stock markets and the international commodity futures markets, except for natural gas, crude oil, and gold, were completely severed. Originality/value - Useful information for portfolio strategy establishment can be provided to investors through the results of this study. In addition, it is judged that financial policy authorities can utilize the results as data for efficient regulation of the financial market and policy establishment.

• Journal of Information Science Theory and Practice
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• 제8권3호
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• pp.6-14
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• 2020

On information markets, we can identify different relations between sellers and their customers, with some users paying with money, some paying with attention, and others paying with their personal data. For the description of these different market relations, this article introduces the notion of arity into the scientific discussion. On unary information markets, customers pay with their money; examples include commercial information suppliers. Binary information markets are characterized by one market side paying with attention (e.g., on the search engine Google) or with personal data (e.g., on most social media services) and the other market side (mainly advertisers) paying with money. Our example of a ternary market is a social media market with the additional market side of influencers. If customers buy on unary markets, they know what to pay (in terms of money). If they pay with attention or with their personal data, they do not know what they have to pay exactly in the end. On n-ary markets (n greater than 1), laws should regulate company's abuse of money and-which is new-abuse of data streams with the aid of competition (or anti-trust) laws, and by modified data protection laws, which are guided by fair use of end users' attention and data.

• 경영과정보연구
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• 제18권
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• pp.91-113
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• 2006

Most merchant of traditional markets think that the condition of market management is getting worse because of decreasing customers caused appearance of large retail stores such as discount store and changing of consumer's life style. Therefore special law was legislated for the activation of traditional markets in 2005. This special law include important articles about surroundings improvement, business management modernization and redevelopment of traditional markets. According to the small and medium business administration data, korea government furnished 177billion and 11billion(won) separately for the facilities and management modernization of traditional markets. Traditional markets of whole country planned and practiced modernization of facilities and management of traditional markets. And most of traditional markets interested in a large project such as establishment of arcade and car parking, remodelling of building, pavement of passageway etc. By the way, under the long term viewpoint, a large project presented above are not the best solution for the traditional markets because of its effectiveness. Maybe, for example, improvement of store signboard and display stand is more effective for the long time. As the problem of management modernization, yet a credit transactions. is the most important factor, only four markets have a plan for the credit transactions. And above all, we must realize that activation of traditional markets can be accomplished by merchant's own initiative participation.

• Agribusiness and Information Management
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• 제12권2호
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• pp.40-54
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• 2021

Market integration and prices in pulse crops like black gram play an important role in determining the production decisions of the farmers and diversification towards high value nutritious crops. In this context, the present study explores extent of market integration and price transmission in selected major black gram markets in Andhra Pradesh using Johansen co-integration, Vector Error Correction Model and Granger causality test. The study used monthly prices data of black gram (Rs/quintal) sourced from selected markets of Srikakulam, Krishna and Kurnool spanning January, 1990 to December, 2019. The results of the study strongly buttressed the existence of co-integration and interdependence of selected black gram markets in Andhra Pradesh. However, the speed of adjustment of the prices found to be moderate in Krishna market and quite weaker in Srikakulam market and thereby prices correct a small percentage of the disequilibrium in these markets with the greatest percentage by the external and internal forces. So, it necessitates the need for future research, to investigate the influence of external and internal factors such as market infrastructure, Government policy and self-sufficient production, product characteristics and utilization towards market integration. As there exists only unidirectional causality from Krishna to Kurnool and from Krishna to Srikakulam markets, it calls for strengthening the information technology for flow of market information regularly to help the farmers for increasing their income.

• 통상정보연구
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• 제12권4호
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• pp.327-344
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• 2010

This study intends to analyze the trade competitiveness of Korean films in international markets. Under environmental of film industry, Korean films could be doing better. But the Key success factors Korean films in the foreign markets are the improvement of contents Quality and the diversification of trade market. Namely, Our films is mainly exporting Japanese market and the import depends upon American films. In case the trade specialization index(TSI), The international competitiveness of Korean films shows lower import specialization, by virtue of export increasing of Japan, Europe and other markets in 2000's. On the other hand, The Export Market Share has shown similar pattern to main markets except Japanese market, and the import was almost similar to trend in foreign markets except American films. Consequently the present film strategies and polices that delight limited markets will not be compete in global markets, Korean films or contents is merely called by that name.

• 전기학회논문지
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• 제56권5호
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• pp.848-853
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• 2007

This paper presents a methodology of estimating incomplete information in electricity markets for analyzing the gaming behavior of Generating Companies (GENCOs). Each GENCO needs to model its opponents' unknown information of strategic biddings and cost functions. In electricity markets with complete information, each GENCO knows its rivals' payoff functions and tries to maximize its own profit at Nash equilibriurnl Nli) by acknowledging the rivals' cost function. On the other hand, in the incomplete information markets, each GENCO lacks information about its rivals. Load patterns can change continuously due to many factors such as weather, price, contingency, etc. In this paper, we propose the method of the estimation of the opponents' cost function using market price, transaction quantities. and customer load patterns. A numerical example with two GENCOs is illustrated to show the basic idea and effectiveness of the proposed methodology.

• 한국주거학회:학술대회논문집
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• 한국주거학회 2003년도 정기총회 및 추계학술대회
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• pp.121-126
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• 2003

The purpose of this study is to propose design guidelines for vitalizing neighborhood traditional markets within the city of Ulsan. To do practical study, we surveyed 9 markets in Ulsan. we analyzed results of the problems through investigating physical characteristics, its conditions and collected user's information by interview.

• 유통과학연구
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• 제10권11호
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• pp.55-60
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• 2012

Purpose - This study aims to suggest policy directions for small retail markets in Korea by statistical analysis, which would help small retailers who are facing various difficulties. Research design, data, methodology - This study diagnoses the problems faced by small retail industries in Korea based on government statistics. In addition, this study identifies three areas for successful collaboration between the SSMs and traditional markets-information distribution, products, and fair trade. Results - This study makes three recommendations-information distribution, products, and fair trade. This includes activation of the existing mutual collaboration efforts, channels, CSR report writing and publicity, ethical management cooperation seminars, contract systems of no return, establishment of staff outsourcing standards, and support for suppliers' organizations. Conclusions - Our suggestions for a collaborative system (based on the three suggestions) show that collaboration rather than confrontation between large and small markets can lead to a sales increase of 2,258.2 billion Won, which is equivalent to the sales loss in 11 traditional markets in one year in Busan.

• Journal of the Korean Data and Information Science Society
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• 제21권6호
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• pp.1337-1341
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• 2010

The paper investigates linkages between the Korea stock market and each of the major Asia-Pacific stock markets, namely those of the Japan, China, Australia, New-Zealand, We employs the Johansen technique to test for pairwise cointergration between the Korea stock market and each of the major Asia-Pacific stock markets. The major stock indices of the markets are used, from 1 September 2006 to 31 August 2010. The results from the test implies that the Korea market is not cointergrated with any of the major Asia-Pacific markets during the period. Our study implies that there are no long-run linkages between the Korea and any of the major Asia-Pacific stock markets.

• Human Ecology Research
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• 제54권2호
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• pp.119-130
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• 2016

Product complaints allow business operators to learn from and solve problems they have been unaware of and prevent customers from leaving in advance. The ability to deal properly with complaints may improve consumer loyalty and repurchase intentions. This study analyzes consumers' intention in complaining behavior towards supermarkets and traditional markets. This study provides implications for business operators in the establishment of marketing strategies to deal with complaints and perform education related to consumer complaints by the verification of variables that influence intention on complaining behavior. A survey was conducted on housewife consumers who had experience using supermarkets and traditional markets. The major results are as follows: first, in store awareness higher in supermarkets than in traditional markets. Second, determinants of consumer complaint behavior, indicated a belief there was a need to spend more money at traditional markets than supermarkets, where the possibility of complaint success and complaint attitudes were found to be low. Third, intention of complaining behavior was lower at traditional markets than supermarkets. Intentions on private complaining behavior and public complaining behavior were both low. Fourth, intention of private behavior is higher than intention of public behavior for both supermarkets and traditional markets. Fifth, complaint attitudes were variables with the greatest influence on intention of complaining behavior for both supermarkets and traditional markets.