• 산업경영시스템학회지
• /
• 제32권2호
• /
• pp.66-75
• /
• 2009

As the population of the silver generation is increasing, the importance and effects of the market for the silver generation are also growing. We segments the categories of the silver generation into six sub-segments using based on the factors like life style, life stage, or performing role from the point of view in communication industry. After segmenting those categories, we observed the experience of each segmented group in detail. Likewise, we executed both FGD(Focused Group Discussion) and participants' observations together to effectively collect the expressed and/or potential needs. Customer's experience was collected along the touch points and customer corridors after dividing the customer's experience world into two groups; communication styles in usual life (life log) and direct contact channels. The effects of delivering an affirmative customer's experience would be empowered by eliminating negative experiences or complementing affirmative experiences. For this purpose, this paper presents the improvement points for the better customer's experience based on the observed customer's experience. This paper presented a sample way of customer-centric approach to design the services or products in the communication industry. In addition to that, the analyzed results of this paper will be useful to find out an effective approach to the market of silver generation.

• 아태비즈니스연구
• /
• 제12권4호
• /
• pp.299-312
• /
• 2021

Purpose - The purpose of this study is to analyze Trade Structure after Korea and Colombia FTA, and identify its problems and suggest measures that can be taken by the government and corporations to reinforce economic cooperation. Design/methodology/approach - To improve the level of contribution of the study, an empirical analysis is necessary. However, due to limited data access, the study will approach the topic of trade relations between Korea and Colombia with various statistics and literature. Findings - First, there is an urgent need for changes in import-export goods between Korea and Colombia, as trade is focused on specific items. Second, although foreign direct investment from Korea to the Colombia is centered in manufacturing and wholesale & retail, there should be different investment strategies by industries. Third, it is necessary to reinforce commercial cooperation. Research implications or Originality - The Free Trade Agreement between Korea and Colombia entered into force in 2016. Under the agreement, both countries will eliminated all tariffs within ten years after it takes effect. Reinforcing economic cooperation with Colombia is extremely important for Korea in terms of entering and dominating Colombian market. However, there is still a lack of research on the Colombia, and corporations that aim to enter Colombian market face difficulties due to lack of information. This study analyzes the recent trends of problems of trade between Korea and Colombia and suggests solutions for boosting trade to provide proper strategic guidelines for Korea that are planning to expand to Colombian market.

• East Asian Economic Review
• /
• 제27권1호
• /
• pp.33-60
• /
• 2023

This paper analyzes the entire distribution of stock market returns/volatility in five emerging markets (ASEAN5) and figures out the conditional distribution of the CHI_EPU index. The aim is to examine the impact of CHI_EPU on the stock returns/volatility density of ASEAN5 markets. It also examined whether changes in CHI_EPU explain returns at higher or lower points (abnormal returns). This paper models the behaviour of stock returns from March 2011 to June 2018 using a non-parametric conditional density estimation approach. The results indicate that CHI_EPU diminishes stock returns and augments volatility in ASEAN5 markets, except for Malaysia, where it affects stock returns positively. The possible reason for this positive impact is that EPU is not the leading factor reducing Malaysian stock returns; but, other forces, such as dependency on other countries' stock markets and global factors, may have a positive impact on stock returns (Bachmann and Bayer, 2013). Thus, the risk of simultaneous investment in Chinese and ASEAN5 stock markets, except Malaysia, is high. Further, the degree of this influence intensifies at extreme high/low intervals (positive/negative tails). The findings of this study have significant implications for investors, policymakers, market agents, and analysts of ASEAN5.

• 아태비즈니스연구
• /
• 제13권4호
• /
• pp.45-59
• /
• 2022

Purpose - This study investigates the performance of investment strategies incorporating estimated stock market cycle based on a lead-lag relationship between business cycle and stock market cycle, thereby deriving empirical implications on risk management. Design/methodology/approach - The data period ranges from June 1953 to September 2022 and de-trended short rate, term spread, credit spread, stock market volatility are considered as major input variables to estimate business cycle and stock market cycle by applying probit model. Based on the estimated stock market cycle, two types of strategies are constructed and their performance relative to the benchmark is empirically examined. Findings Two types of strategies based on stock market cycle are considered: The first strategy is to long(short) on stocks when stock market stage is expected to be an expansion(a recession), and the second one is to long on stocks(bonds) when expecting an expansion(a recession). The empirical results show that the strategies based on stock market cycle outperforms a simple buy and hold strategy in both in-sample and out-of-sample investigation. Also the out-of-sample evidence suggests that the second strategy which is in line with asset allocation is more profitable than the first one. Research implications or Originality The strategies considered in this study are based on the estimated stock market cycle which only depends on a few easily available financial variables, thereby making easier to establish such a strategy. It implies that investors enhance investment performance by constructing a relatively simple trading strategies if they set their position on stocks or choose which asset class to buy conditioning on stock market cycle.

• 아태비즈니스연구
• /
• 제14권2호
• /
• pp.119-139
• /
• 2023

Purpose - This study is the first field study about the insurance market in North Korea. By analysing the information and the data collected from the visit to North Korea, we introduced the most recent change on the insurance market in North Korea and analyzed the impact of the change of economic policy on the insurance market. This study may enhance the understanding the current situation and provide expectations on the future of the insurance market in North Korea. Design/methodology/approach - This study is based on the field study doen in 2018 to Pyeong Yang, the capital of North Korea, The most information was collected from the legal documents, news papers and academic reports. Findings - During his regime from the year of 2012, Kim Jong Eun, the Supreme Leader of North Korea, initiated the drastic change in economic renovation policy in North Korea by shifting the economic system from the commodity economy to the market economy. Due to the policy, the insurance market in North Korea became marginally privatized and the market of life insurance contracts is expected to be increased if North Korea may resolve the political conflicts between North Korea and the United States and its allies in Asia mainly due to its nuclear testing. Research implications or Originality - Until now, very few studies have been done regarding the financial market in North Korea, especially about the insurance market. Our study provides unique information on the insurance market in North Korea because all the information and its implications are based on the field study in 2018.

• 한국시스템다이내믹스연구
• /
• 제8권2호
• /
• pp.175-190
• /
• 2007

Stock market volatility largely depends on firms' value and growth opportunities. However, with the globalization of world economy, the effect of the synchronization in major countries is gaining its importance. Also, domestically, the business cycle and cash market of the country are additional factors needed to be considered. The main purpose of this research is to attest the application and usefulness of System Dynamics as a general stock market forecasting tool. Throughout this research, System Dynamics suggests a conceptual model for forecasting a KOSPI(Korea Composite Stock Price Index), taking the factors of the composite stock price indexes in traditional researches. In conclusion of this research, System Dynamics was proved to bean appropriate model for forecasting the volatility and direction of a stock market as a whole. With its timely adaptability, System Dynamic overcomes the limit of traditional statistic models.

• Asian Journal of Innovation and Policy
• /
• 제4권1호
• /
• pp.35-54
• /
• 2015

The purpose of this study is to compare the valuation of technology firms in the KOSPI and KOSDAQ. This study analyzed 224 market reports for KOSDAQ firms and 602 reports for KOSPI firms. We compare the two markets under 3 definitions on the accuracy of stock price forecasting. Findings are as follows: Although PER multiples is the most used method of valuation, KOSDAQ valuation more heavily relies on the method than KOSPI valuation. In stock market, the period of earnings forecasting is mostly 2-3 years. Multiples of KOSDAQ is generally higher than those of KOSPI. Even for technology firms, valuation in KOSPI mostly relies on earnings of the company, but that in KOSDAQ mostly relies on relative price. In stock price forecasting, generally overestimation prevails. Moreover, forecasting of KOSPI reports is more accurate than that of KOSDAQ reports. ROE and COE of KOSDAQ firms are generally higher than those of KOSPI firms.

• 대한전기학회논문지:전력기술부문A
• /
• 제53권1호
• /
• pp.67-72
• /
• 2004

This paper addresses the bidding strategies of generating firms in a competitive market where the firms are provided with payment for generating reactive power. Reactive support for voltage control is an integral and critical part of power system operations. Since reactive support is unbundled in a competitive market under open access transmission, it is treated as one of ancillary services. The operation costs and opportunity costs for reactive support are compensated by payment to the firms, hence their bidding strategies will be affected. The opportunity costs are evaluated from the foregone profits of a generator in making sales in real power market by providing reactive support instead of real power. Game theory approach is used to analysis the transaction strategies of real power by the bimatrix method in this paper. Through computing the Nash equilibrium in a sample system, an incentive of a generator for improving the reactive generating capacity is found to be effective and the variations of the profits are analyzed as the demand power factor changes.

• ETRI Journal
• /
• 제31권3호
• /
• pp.304-314
• /
• 2009

Component-based software reuse has been generally regarded as a promising approach to improving software productivity and quality within software development. However, progress in component-based software reuse has been slower than expected. Much of the software reuse literature points to the lack of software components that can maximize users' benefits as the most important source of the slow progress. Considering that the underlying processes behind component-based software reuse are strikingly similar to commercial software marketing, this paper attempts to identify the aspects of software components that consumers value and to establish relationships between the identified aspects and consumer behavior in the software component market. More specifically, this paper focuses on the perceived subjective features of software components. This study was conducted in a web-based artificial market environment called "SofTrade."

• 대한전기학회논문지:전력기술부문A
• /
• 제51권12호
• /
• pp.638-646
• /
• 2002

This paper presents an efficient algorithm for evaluating the Profit and revenue of generating units in a competitive electricity market based on the probabilistic production costing technique. The accurate evaluation of the profit and revenue of generating units for long-term perspectives is one of the most important issues in a competitive electricity market environment. For efficient calculation of the profit and revenue of generating units under the equivalent load duration curve(ELDC), a new approach to figure out the marginal plants and the corresponding market clearing prices during a time period in a probabilistic manner is developed. The mathematical formulation and illustrative application of the suggested method is presented.