• The Korean Journal of Applied Statistics
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• v.31 no.2
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• pp.303-313
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• 2018

This study considers time series models to forecast drug expenditures in national health insurance. We adopt autoregressive error model (ARE) and transfer function model (TFM) with segmented level and trends (before and after 2012) in order to reflect drug price reduction in 2012. The ARE has only a segmented deterministic term to increase the forecasting performance, while the TFM explains a causality mechanism of drug expenditure with closely related exogenous variables. The mechanism is developed by cross-correlations of drug expenditures and exogenous variables. In both models, the level change appears significant and the number of drug users and ratio of elderly patients variables are significant in the TFM. The ARE tends to produce relatively low forecasts that have been influenced by a drug price reduction; however, the TFM does relatively high forecasts that have appropriately reflected the effects of exogenous variables. The ARIMA model without the exogenous variables produce the highest forecasts.

• Korean Journal of Human Ecology
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• v.18 no.2
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• pp.523-534
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• 2009

The purposes of this study were to identify brand equity factors influencing on brand preference and to investigate the effects of preference, price acceptability, distribution proximity, and appropriateness on brand performance of domestic and imported cosmetics brands. A total of 300 women aged between 20 and 49 years were surveyed on two domestic brands and two imported brands that were well-known to consumers during the month of September, 2006, in Seoul, Daejeon, Gyeonggi-do, and Chungcheong-do. The data were analyzed with factorial analysis, multiple regression analysis, ANOVA, Cronbach's ${\alpha}$, etc., using the SPSS 12.0. The result of the study included: 1) Four factors of brand equity were identified: brand image, social reputation, quality, and brand awareness. 2) Brand image, quality, appropriateness, and brand performance of the domestic brands were higher than those of the imported brands. But brand awareness of the imported brands was higher than that of the domestic brands. 3) Brand preference of the domestic brands was affected by social reputation, quality, brand image, and brand awareness in order of significance. And brand performance of the domestic brands was affected by brand preference, appropriateness, price acceptability and distribution proximity in order of significance. 4) Brand preference of the imported brands was affected by brand image, social reputation, brand awareness, and quality in order of significance. And brand performance of the imported brands was affected by appropriateness, price acceptability, brand preference, and distribution proximity in order of significance.

• The Journal of the Korea Contents Association
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• v.9 no.3
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• pp.175-184
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• 2009

Korea shared 2.4% of world culture contents market in 2006 and ranked 9th. Therefore Korean government classified culture contents industry as a new growth-driving industries and started fixing the total contents policy promote system, exterminating illegal copying, protect copyright,improving contents creativity power, and supporting foreign market pioneering. Thus the importance of culture contents industry is increasing day by day. This study analyze the amount changes about production-inducing effect, value-added-inducing effects, employ-inducing effect, supply shortage effect and sectoral price effect, using inter-industry analysis according to time series. Especially, the sectoral price effect of culture contents industry increased by time pass. Thus, the influence of price changes in the culture contents industry to the other industries are increasing.

• Journal of Environmental Impact Assessment
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• v.21 no.2
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• pp.297-314
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• 2012

This study investigates the stigma effect of unwelcomed facilities on apartment prices through multiple regressions based on hedonic price method. The areas studied are Sang-gye Jugong 7, 9, 10 apartment complexes. The facilities analyzed are the Chang-dong Electric Subway Depot and the Do-bong Driver's License Agency. The factors studied include the environmental variable (the elapsed time since the announcement of the re-location of these facilities), the view commanding, the distance from Chang-dong Depot, the distance from Do-bong Driver's License Test Course, the distance from neighboring facilities (subway stations, schools, parks and so on), the floor and each dwelling's exclusive space. The data used are 2,822 sales which have been collected since January 1, 2006. The facts found are as follows; first, the view commanding and the distance from the unwelcomed facilities are statistically significant. second, the environmental variable, 'days' turns out to have a positive (+) and a negative (-) significant relationship with the dependent variable, 'price', in period II and period IV respectively. This implies that the stigma effect is real. third, there are significant differences in the influence on the apartment prices among the independent variables according to time. fourth, the stigma effect is estimated as 33,686,920 Korean won in the case of the apartments which have the view commanding and 30,311,844 won in the other case before the global economic crisis. This effect seems to decrease to 22,085,078 won after the crisis. These facts suggest that stigma effects could be considered as one of the benefits in the cost-benefit analysis of Chang-dong Depot re-location project to produce somewhat higher NPV or B/C ratio.

• Korean Journal of Construction Engineering and Management
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• v.7 no.5
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• pp.167-176
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• 2006

It was found that Korean Standard of Estimate which has been used as the only basis of cost estimate of public construction projects had some side effects such as jerry-build construction and over-estimation because it failed to reflect the current price and the state-of-the-art construction methods in a changing construction environment. Therefore, the government decided to gradually introduce historical construction cost into cost estimate of public construction projects from 2004. This paper presents analytic criteria and a process model for deducing more current and reasonable historical construction cost for contract items from not only previous contract prices but also all of the other bid prices that were not contracted. The procedure of estimating actual unit cost proposed in this paper focuses on the removal of abnormal values including strategically too low or high prices and the time correction. In addition, basic research is conducted for the correction of actual unit cost through the analysis of fluctuation of bid price depending on bidding types and rates of successful bid. It is anticipated that the effective use of the proposed process model for estimating actual unit cost would make the cost estimation more current and reasonable.

• Journal of Information Technology Applications and Management
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• v.24 no.2
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• pp.25-37
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• 2017

The aim of this study is to analyze the effect of the growing activities of large purchasing enterprises on the trust of small and medium size contractors, which is mediated by 'purchase accompany activity'. This subject study includes the first and second contractor companies in Korea. The results of this study are as follow. First, the knowledge and cost price sharing activities of major purchase vendor with cooperative company had a positive effect on the trust of cooperative company, however this was not so with the information sharing activities in that case. Second, the trust of contractors on large purchasing enterprises was positively influenced by sharing activities with purchasing activities of major company. Third, the knowledge and cost price sharing activities of purchasing enterprise with contractors on the sharing activities were mediated by the trust of contracting company on the large purchase enterprise. According to this study, the mediated effect of trust relationship can influence a contracting company. Whereas preceding studies of sharing activities were conducted about unidirectional instruct of large purchase enterprises to small and medium size contracting companies, this study was conducted on bidirectional effects, which included knowledge, cost price, information sharing activities between contracting companies and large purchasing enterprises. Conclusively, this study showed the possibility of spreading cognitive and change about mutual benefits strategy between small and medium size contracting company and large purchasing enterprise.

• International Commerce and Information Review
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• v.18 no.1
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• pp.179-208
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• 2016

This study examined the effect of ingredient branding strategies for late entrants as one of the strategic tools to overcome first-mover advantages. Specifically, this study investigated whether brand origin information of the ingredients and price information of the ingredient branding product affect consumer evaluation. A sample of 400 university students were randomly assigned to 2 experimental studies. Results from study 1 showed that the market position of ingredient brand and brand origin information significantly influenced consumers' evaluation on the ingredient branding product. In addition, from the study 2, this study found that price information significantly moderated the effects of the order of market entry and brand origin information of the ingredients on the consumers' evaluation on the ingredient branding product. Implications for brand strategies to overcome the late-entrant disadvantages are discussed.

• Journal of the Korea Convergence Society
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• v.8 no.9
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• pp.41-47
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• 2017

This study is a preceding research designed to deduct an institutional supplementary measure that minimizes any inevitable side effects from the improvement of artificial intelligence (AI) technology, which is the core element of the Fourth Industrial Revolution. In this specific case in which the Robo-Advisor, the representative type of AI-applied technology, was hacked by a third party and ended up manipulating prices, the study was intended to examine the responsibility relationship of the current legal framework. Although the current legal framework strictly prohibits acts such as hacking and manipulation, it was confirmed that if the Robo-Advisor management firm acts in compliance with protection measures regarding hacking, the firm is free from any legal liabilities and there is insufficient legal protection available for ordinary investors with grand-scale damage from price manipulation Based on this study, further studies are needed to derive more institutional supplementary measures on overcoming these problems.

• Environmental and Resource Economics Review
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• v.27 no.4
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• pp.667-694
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• 2018

We analyze the learning-by-doing effects of the allowance pricing system on the Korea's emission trading scheme. The price of allowance (Korean Allowance Unit) is influenced differently by internal market factors and economic conditions variables in the first (January 2015 to June 2016 ) and the second commitment year(January 2016 to June 2017). The prices and transaction volumes of complementary credits (KCU and KOC) as well as economic conditions variables (such as call rate, exchange rate, stock price) are statistically significant only for the second commitment year. Thus, the learning-by-doing effect makes the market participation decision on K-ETS market more efficient in the second commitment year, adopting the previous experience and knowledge in the K-ETS market. The factors estimated significantly in both commitment periods include the institutional binary variable for requiring the submission of the emissions verification reports issued both on February and March.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2953-2966
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• 2018

Housing prices are closely related to various variables that indicate macroeconomic conditions. In this paper, empirical analysis based on data is performed referring to previous studies. Focusing on the policy interest rate among the factors affecting the housing price, the non-linear impulse responses of other variables to the interest rate shock are analyzed. Using the random forest algorithm, the variable importance scores of the macroeconomic variables presented in the previous studies are calculated. After selecting the variables through this process, the impulse responses are calculated using a model that can capture non-linearity. According to the model, the responses of housing prices to the policy rate is only significant when the rate is raised. Especially, the impulse response is amplified when the shock increases due to the non-linear characteristics that can not be captured by the traditional VAR methodology. The analysis results suggest that the interest rate as a policy instrument should be approached from a more cautious perspective.