• 유통과학연구
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• 제20권9호
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• pp.83-95
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• 2022

Purpose: This study aims to explore an ability to time market-wide investor sentiment of mutual fund managers in an emerging market. Research design, data, and methodology: Based on data of Thai mutual fund market over the period of 2000-2019, our sample includes 283 equity funds, consisting of 204 bank-related funds and 79 nonbank-related funds. We perform our regression analyses at the aggregate and portfolio levels. Results: Under the non-normal distribution of return, we find different behaviors between the best- and worst-performing funds in an ability to time market-wide investor sentiment in Thailand, which is dissimilar to the findings in the U.S. Bottom fund managers act as sentiment hedgers, who decrease (increase) an exposure of investment portfolios when the investor sentiment is high (low). Oppositely, top fund managers are likely to chase investor sentiment. Conclusion: We find that only the worst-performing fund managers, especially for bank-related funds are able to time the market-wide investor sentiment. An advantage of gaining information from their bank's clients is a key success. A competition in the mutual fund industry, an ability to predict fundamentals, and financial literacy are possible reasons to explain the main findings found in this study.

• The Journal of Asian Finance, Economics and Business
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• 제8권11호
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• pp.145-155
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• 2021

This study examines the export competitiveness of four major natural rubber exporters in the Belt and Road Initiative (BRI) region and investigates the factors affecting bilateral natural rubber export. This study utilized the revealed symmetric comparative advantage (RSCA) to measure export competitiveness. Next, this study employed the gravity model using the Poisson Pseudo Maximum Likelihood (PPML) estimation to analyze the factors affecting bilateral export from the four major natural rubber exporters to 46 countries in the region. The analysis is conducted by using annual data from 2001 till 2018. The findings showed that all four major exporters maintained their export competitiveness. Indonesia and Vietnam notably exhibited increasing trends in the early 2000s. Besides, the market share for Malaysia and Vietnam have increased from 2013 to 2015 with the BRI implementation in 2013. In addition, this study discovered that non-tariff measures (NTM) have a positive and significant impact on the bilateral export of natural rubber. The overall findings strongly indicate that the natural rubber export has increased post BRI announcement. The outcome highlighted the benefits of BRI implementation on the natural rubber export. This study is the first attempt to apply the gravity model on the natural rubber exports within the BRI region.

• 한국산림과학회지
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• 제98권3호
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• pp.231-241
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• 2009

한-EU FTA 체결에 따른 수입 시장의 품목별 경쟁력을 분석하기 위하여 무역특화지수, 수입시장점유율과 단가지수, MCA지수 등을 이용하였다. 그 결과 단기소득임산물 가운데에는 크게 우려할 만한 품목이 없을 것으로 예상된다. 그러나 목재류의 경우 활엽수합판, 성형판(침엽수류), 고밀도화목재, 목모와 목분, 합판(기타), 파티클보드(기타), 기타섬유판, 배향성스트랜드보드(기타), 파티클보드(전체기타), 파티클보드(기타 미가공목재), 조립식 건축물(목재의 것), 목질재기타섬유판(밀도 0.5~0.8), 목제의 그림틀 사진틀, 기목세공과 상감세공 등의 품목은 FTA 체결에 따라 수입이 증가할 것으로 예상된다. 한국 수출품의 경우 단기소득임산물은 모두 시장 경쟁력이 없는 것으로 나타났으며, 목재류의 경우에도 목초액만 MCA 지수 및 TSI 지수에서 경쟁력이 있는 것으로 나타났으나, 그나마 수출이 지속적으로 발생하는 것이 아니라 경쟁력을 판단할 수준이 못된다고 할 수 있다.

• 대한교통학회지
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• 제9권2호
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• pp.57-74
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• 1991

Deregulation privatization regionalism and globalization are the specific examples of the recent trends in the world air transport market. As encouraged by the international trends and the domestic policy of promoting market mechanism Korean has been driving a two-airline policy since 1989. But due to the absence of experience and philosophy about the airline co-mpetition both Korean government and the two airlines have been criticized for failing to set fair-competition rules and for struggling to secure air service rights regardless of national interest. Therefore this study shows the costs and benefits of a two-airline policy in a small count-ry reviews the empirical studies about the cost structure of American and Canadian airlines and analyzes the economic consequences of allocating air service rights between two airlines. The policy recommendations are (1) removing government restrictions and expanding ai-rport facilities to develop the domestic market (2) retaining the two-airline policy in the in-ternational market (3) increasing traffic density rather than expanding network for the small airline (4) improving comparative advantage through a global alliance and a technological innovation for the big airline and (5) building an official committee for co-ordinating the two airlines' interests.

• Asian Journal of Business Environment
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• 제12권3호
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• pp.13-22
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• 2022

Purpose: The research aims to analyze the export performance of processed seaweed, its competitiveness, and determinants on seven main destination countries. Research design, data and methodology: The study uses data of seven main destination countries of Indonesian processed seaweed from 2010 to 2019. For competitiveness analysis, the study uses Revealed Comparative Advantage, Export Product Dynamics, and X-Model of Potential Export Product. Results: The study reveals that the export performance has decreased on all five countries except for Japan and USA. The X-Model analysis shows that the market classification has increased or been stable in every country except for Germany and France. GDP per capita of each destination country and competitiveness index have positive and significance effect while other factors have negative and significance effect. Conclusions: In 2019, Indonesia's processed seaweed market in Japan, United States, and France are on potential market, while Singapore and Italy are on optimistic market. In the future, Indonesia's processed seaweed export can be focused more on countries that have a good market potential. To improve the export volume, GDP per capita of destination country, and competitiveness index of Indonesian processed seaweed should be higher, while export price, economic distance, and real exchange rate should be lower.

• 무역학회지
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• 제46권1호
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• pp.59-81
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• 2021

This paper aims to analyze Korea's trade and investment performance in Spain and the business environment of Spain, and to find efficient strategies for entering into the Spanish market. This study is organized into five chapters. To begin with, it explains an overview of the Spanish economy and the current status of its major industries. Then, it analyzes Korea's trade and investment performance in Spain, the structure of comparative advantage and the trade trends of major import and export items, since 2011 when the Korea-EU FTA went into effect. Lastly, based on the results of this analysis, Korea's strategies for entering into the Spanish market are derived. The strategies derived from the analysis are as follows: (1) entering startups in the Spanish market through CVC cooperation and participation in large tech forums, (2) linking the Spanish interest in K-Culture to consumer goods exports, (3) promoting cooperation in the IT industry in response to the Spanish government's 'Connected Industry 4.0', (4) building a new Korean-Spanish value chain in response to the mobility revolution, (5) advancing jointly into a third country by combining the strengths of both Korea and Spain, (6) cooperating with the Spanish government to establish a sustainable energy policy, (7) promoting jointly with the Spanish government through smart city strategies and project exchanges, and (8) building a European logistics hub in Spain in preparation for post-Brexit.

• 경영과정보연구
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• 제3권
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• pp.77-97
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• 1999

The purpose of this paper is to measure the international competitiveness of insurance business and to analyze its determinants empirically. I have attempted to use Revealed Comparative Advantage(RCA) index to measure domestic competitiveness. confining to OECD countries only. Among domestic competitiveness advantage countries in the insurance, there are Austria, Denmark, France. Japan, Korea... etc. The factors of domestic competitiveness determinants were found out through multivariate regression analysis with panel data$(1990{\sim}1995)$. In insurance industry, statistically significant variables are employee's per capita premium of insurance company (Pro), stock market capitalization/GDP(MVESR), saving rate (SAV) and real interest(RMMR), while they are Pro, MVESR, and real interest in Korea insurance industry.

• 수산경영론집
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• 제24권2호
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• pp.83-97
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• 1993

Since the last decade, the fisheries industry in Korea has faced many difficulties in terms of comparative economic advantage partly because of marine environmental damage caused by Pollution and coastal reclamation, and partly because of too expensive production factors like labor. In addition, new order of world trade created by Uruguay Round will force the Korean fisheries industry to prepare some remedies including a joint-venture business with China for international compatativeness. As a result, this paper mainly deals with an analysis on feasibility of Sino-Korean joint cooperation in fisheries business. Especially, the Shandong Province in China is expected to take advantage of its geographical proximity to Koreas well as of its abundance in marine natural resources in order to achieve a fast economic growth. Thus, for the next decade to come, it would be very important for the Korean fisheries industry to cope with the international fisheries market by the Sino-Korean joint-venture combining the capital and technology from Korea with the cheap labor and favorable marine environment for aquaculture from China.

• 대한가정학회지
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• 제46권5호
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• pp.87-96
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• 2008

The purpose of this study was to establish which factors were considered when fashion companies discussed the intention of employing the internet in various capacities. A total of 228 candidates were surveyed between 17-11-07 and 17-01-08. The collected data was used to conduct various descriptive and comparative analyses. Firstly, environmental factors considered important were internal pressure, external pressure and uncertainty of the market. Organizational factors considered important were support of the chief executive officer, capacity of the organization and future directivity. Profit factors considered important were elevation of the business, customer relationship management, advantage of the internet and reduction of expenses. Prohibitive factors considered important were miscellaneous expenses, secession of the customer, internal opposition of the organization and convertible expenses. Secondly, fashion companies regarded internal pressure, external pressure, support of the chief executive officer, capacity of the organization, future directivity, elevation of the business, customer relationship management, advantage of the internet and miscellaneous expenses as important when discussing the introduction of the internet.

• 한국컴퓨터정보학회논문지
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• 제4권1호
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• pp.99-113
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• 1999

IMF한파에 의한 내수시장의 위축. 유통시장의 개방에 따른 유명 외국업체의 국내시장 진출, 소비자 니즈의 다양화 및 급변화 등으로 우리 나라 유통산업은 여러 가지 어려움에 직면해 있다. 이 논문은, 이와 같은 우리 나라 유통산업을 둘러싼 부정적인 환경변화로부터 발생하는 위기를 슬기롭게 극복하여 시장에서의 경쟁적 우위를 차지할 수 있도록, 정보에 초점을 맞추면서 동시에 일본 유통산업과의 비교분석을 통하여 우리 나라 유통산업의 전략적인 방안을 제시하는데 그 목적이 있다. 정보화란 소비자의 니즈에 대한 자료 및 정보를 신속하게 입수하여 정확하게 분석하고 이를 효율적으로 상품화에 반영하는데 근본적인 목적이 있으므로 우리나라 유통산업의 정보화 전략방안은 통합형 및 연계형 ‘정보시스템의 구축, 정보시스템의 지속적인 개발 및 보완’, 정보의 공유라는 3가지 축을 근간으로 하여 추진되어야 한다.