• Environmental and Resource Economics Review
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• v.22 no.4
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• pp.671-689
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• 2013

Transmission mechanisms of volatility between two crude oil markets (WTI and Brent markets) have drawn the attention of numerous academics and practitioners because they both play crucial roles in portfolio and risk management in crude oil markets. In this context, we examined the volatility linkages between two representative crude oil markets using a VECM and an asymmetric bivariate GARCH model. First, looking at the return transmission through the VECM test, we found a long-run equilibrium and bidirectional relationship between two crude oil markets. However, the estimation results of the GARCH-BEKK model suggest that there is unidirectional volatility spillover from the WTI market to the Brent market, implying that the WTI market tends to exert influence over the Brent market and not vice versa. Regarding asymmetric volatility transmission, we also found that bad news volatility in the WTI market increases the volatility of the Brent market. Thus, WTI information is transmitted into the Brent market, indicating that the prices of the WTI market seem to lead the prices of the Brent market.

• Journal of the Korean Data and Information Science Society
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• v.23 no.6
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• pp.1075-1084
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• 2012

This study examines stock market co-movement among three China stock markets: Shanghai stock market, Shenzhen stock market, Hongkong stock market. US stock market leads three China stock markets and Honkong stock market leads Shanghai and Shenzhen stock market. But there are no lead-lag effects among China stock markets after controlling US stock market effect. These results could be important for the investors and firms that are interested in China stock markets.

• The Korean Journal of Financial Management
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• v.15 no.1
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• pp.73-94
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• 1998

This paper contributes to the ongoing controversy over price and volatility spillovers across countries by providing new evidence with the futures data of the S&P 500 and Nikkei 225 index futures contacts from January 3, 1990 to April 16, 1996. Based on the two-stage symmetric and asymmetric GARCH models we document that both the U.S. and the Japanese daytime returns significantly influence the subsequent overnight returns of the other market. We find no signs of volatility spillovers between two international markets with the symmetric model. However, with the asymmetric models, we find that the magnitude of foreign negative shocks are different from the positive ones. The findings generally suggest that the two markets are more sensitive to the bad news originating in the other market. This nature of transmission between two markets would have important implications to the arbitragers who are trying to exploit the short-term dynamics of price and volatility movements across two security markets.

• International Commerce and Information Review
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• v.2 no.1
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• pp.69-81
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• 2009

In the past, trades with the Latin American markets were not active since the South Korean companies simply considered them substitute markets whenever exports were slow. However, the importance of these markets is highlighted anew thanks to the signing of the Korea-Chile Free Trade Agreement (FTA). Presently, Latin American nations are pursuing FTA with various nations in the world, regardless of the geographic boundaries, in order to vitalize their economy and attract foreign capital. Despite these efforts to liberalize the market, Latin American regions continue to restrict importation by leveraging diverse set of trade regulation policies. This research examines trade regulation policies in the Latin American regions and proposes Korea's countermeasures.

• International Commerce and Information Review
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• v.11 no.2
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• pp.69-81
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• 2009

In the past, trades with the Latin American markets were not active since the South Korean companies simply considered them substitute markets whenever exports were slow. However, the importance of these markets is highlighted anew thanks to the signing of the Korea-Chile Free Trade Agreement (FTA). Presently, Latin American nations are pursuing FTA with various nations in the world, regardless of the geographic boundaries, in order to vitalize their economy and attract foreign capital. Despite these efforts to liberalize the market, Latin American regions continue to restrict importation by leveraging diverse set of trade regulation policies. This research examines trade regulation policies in the Latin American regions and proposes Korea's countermeasures.

• International Commerce and Information Review
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• v.10 no.4
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• pp.321-350
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• 2008

The China has opened the distribution market completely since it joined the World Trade Organization on Dec 11 2001. The notable features of Chinese distribution market are the transition from the consumers' monolithic demand to diversification for the luxury goods, well-being products. The regional characteristics of consumers are smart, conservative, optimistic and advanced. and the open door policy has prompted the capitalistic economy gradually. We analyzed the Chinese distribution markets and came up with the following strategies. First, we recommend the setting of the key regional market not covering the whole chinese markets. then we can extend the main market step by step. Second, we need to cooperate and advance with the Korean distribution companies which entered into markets already. Third, we need to acquire the competitive and stable distribution channel in China. Fourth, we need to implement the localization strategy in terms of human resources and procurement. Fifth, the consignment management can be another strategy. I hope this research can be a little help to those who wish to expand to the Chinese markets.

• Journal of Korean Academy of Nursing Administration
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• v.5 no.1
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• pp.63-76
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• 1999

The main objective of this study was to develop a concept of service marketing promotion in nursing that is derived from the concepts of service marketing theory. This research was a descriptive study, at the factor isolation level. The principle of concept derivation suggested by Walker and Avant (1988) and the Hybrid model suggested by Schwarz-Barcott and Kim (1993) were employed as the research method. The data were collected from December, 1997 to April. 1998 at a large general hospital located in Seoul. The procedures of this study were as follows: First. at the theoretical phase: the meaning, attributes, and definition of service marketing promotion were identified through an extensive review of the literature. Second, at the empirical phase: fieldwork was done to identify the promotional activities and events in nursing. Top nurse managers from 4 units (Director of Nursing, Head nurses of inpatient nursing unit, outpatient nursing unit. and home care nursing unit) were interviewed and the content of the interview was analyzed to identify the meaning and attributes of promotion in nursing. Other methods such as brochures and other audio-visual materials which were relevant to nursing promotion were used to supplement the interviews. Finally, the results of the theoretical and empirical analyses were intergrated to develop a concept of service marketing in nursing practice. A final definition of service marketing promotion in nursing was identified as follows. 1. Promotion as a marketing function in nursing service is concerned with communication to target markets on all information related to nursing service in order to satisfy the objectives of both a nursing service organization and the target markets. 2. The goals of nursing service promotion include: 1) increasing visibility of nursing services and delivering the information on nursing services, 2) affirming the value of nursing services, so it can contribute to formulation of reimbursement policy for nursing services. 3) advancing the general image of the nursing profession and nursing services. 4) achieving and attaining a desirable positioning for nurses among health care professionals. and 5) creating and stimulating the demand for nursing services. 3. In order to obtain these goals it is necessary to provide information on nursing services, to persuade target markets. to remind them about nursing services. and to establish a collaborative relationship with related departments. 4. The tools used to carry out the above functions of promotion in nursing are the providing nursing services, public relations and publicity. QA of nursing, advertising, and sales promotion. 5. The target markets of nursing service include the nursing customer markets. the internal markets, the influence markets. the recruitment markets. the supplier markets. and the nursing referral markets. In conclusion, the concept of promotion in other service marketing areas can be applied to the promotion of nursing service marketing. The promotion of nursing service is more than just effective communication in nursing service. it is the effective use of the concepts of service marketing promotion. Promotion of nursing service will contribute to create and expand nursing services.

• Journal of the Korean Society for information Management
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• v.24 no.1 s.63
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• pp.121-145
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• 2007

This study aims to identify copyright issues regarding the knowledge content currently circulated through knowledge exchange markets in the Republic of Korea. The content providers of knowledge exchange markets comprise government & public institutions, full-text database companies, publishers and individuals. It is worth noting that commercial trade of copyrighted content or material among academic journals, database companies and knowledge exchange markets essentially exclude individual authors who are the actual copyright holders. In principle, the original author owns the copyright whether it has an explicit notice or not. Unless the author/owner officially agrees to transfer the copyright including the right for so-called "derivative works", content-making based or derived from the copyrighted material, digitalization of the copyrighted work as well as its registration on full-text database and circulation through knowledge markets are illegal.

• The Journal of Industrial Distribution & Business
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• v.9 no.4
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• pp.19-26
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• 2018

Purpose - This study measures how competitive securities broker-dealers are in the Korean financial markets. It aims to test whether the markets are perfectly competitive or monopolistic since the global financial crisis of 2008. Research design, data, and methodology - We apply the method developed by Panzar and Rosse (1987), H-statistics, which offers an index for the competitiveness as well as statistical tests. The dataset in use is retrieved mainly from the quarterly statements of the financial services companies by the Financial Statistics Information System of the Financial Supervisory Service. General information on officers and employees is utilized in addition to balance sheets and income statements of securities companies. Results - H-statistics for 2009-2015 is about 0.7 that is a robust estimate regardless of model specifications such as full trans-log, partial trans-log, and Cobb-Douglas regression equations. H-statistics for each year is also computed in similar ways in that it varies between 0.3 and 0.9. Conclusions - Since the global financial crisis, H-statistics concludes that securities broker-dealer markets in Korea is neither perfectly competitive nor monopolistic. It evidences that the markets are rather monopolistically competitive. The trend in annual H-statistics leads to the same conclusion but the result is not such stable that overall H-statistics implies.

• Management & Information Systems Review
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• v.29 no.4
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• pp.67-88
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• 2010

The primary purpose of this study is to examine the effects of information satisfaction on customer trust and future behavior intention in open markets. Based on relevant literature reviews, this study posits three information satisfaction characteristics, that is, seller information satisfaction, product information satisfaction, and transaction procedure information satisfaction as key determinants of customer trust and future behavior intention. And then we structured a research model and hypotheses about relationship between these variables. A total 253 usable survey responses of open market users have been employed in the analysis. The major findings from the data analyses are as follows. Firstly, all three kinds of seller information satisfaction, product information satisfaction, and transaction procedure information satisfaction have a positive influence upon customer trust. Secondly, customer trust have very significantly related to repurchase intention in open markets.