• Environmental and Resource Economics Review
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• v.12 no.4
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• pp.637-661
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• 2003

This paper analyzes the impact of import liberalization of petroleum product market in 1997 on the behavior of a domestic industry, regarded as a typical oligopoly. Based on the theory of implicit cartel, two regression equations were formulated and estimated for domestic production and refinery margin using monthly data for the period from Jan. 1994 to June 2003. Estimation results show that not only did domestic production rise sharply but also the refining cost fell substantially throughout 1996 before the actual liberalization of imports, Such a response is clearly consistent with the implicit cartel theory, which suggests that once the difficulty of maintaining a cartel in the future is recognized, the cartel immediately collapses and anticipation of import liberalization can cause immediately lowering market price as well as an immediate expansion of the supply by a domestic industry. However, the significant reduction of refinery cost accompanied by a large contraction in domestic output after the actual implementation of import liberalization can be explained by the collapse of implicit cartel caused by the anticipated liberalization of imports. Thus, import liberalization in the sense of allowing entry of foreign producers into domestic market has seemed to be an effective means to weaken market power and induce more competitive conduct of domestic firms.

• Management & Information Systems Review
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• v.12
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• pp.137-160
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• 2003

The association between accounting earnings and the stock price of an entity is the subject that has been most heavily researched during the past 25 years in accounting literature. Researcher's common finding is that there are positive relationships between accounting earnings and stock prices. However, the explanatory power of accounting earnings which was measured by $R^2$ of regression functions used was rather low. To be connected with these low results, The prior studies propose that there will be additional information, errors in variables. This study investigates empirically determinants of earnings response coefficients(ERCs), which measure the correlation between earnings and stock prices, using earnings level / change, as the dependent variable in the return/earnings regression. Specifically, the thesis tests whether the factors such as earnings persistence, growth, systematic risk, image, information asymmetry and firm size. specially, the determinable variables of ERC are explained in detail. The image / information asymmetry variables are selected to be connected with additional information stand point, The debt / growth variables are selected to be connected with errors in variables. In this study, The sample of firms, listed in Korean Stock Exchange was drawn from the KIS-DATA and was required to meet the following criteria: (1) Annual accounting earnings were available over the 1986-1999 period on the KIS-FAS to allow computation of variables parameter; (2) sufficient return data for estimation of market model parameters were available on the KIS-SMAT month returns: (3) each firm had a fiscal year ending in December throughout the study period. Implementation of these criteria yielded a sample of 1,141 firm-year observation over the 10-year(1990-1999) period. A conventional regression specification would use stock returns(abnormal returns) as a dependent variable and accounting earnings(unexpected earnings) changes interacted with other factors as independent variables. In this study, I examined the relation between other factors and the RRC by using reverse regression. For an empirical test, eight hypotheses(including six lower-hypotheses) were tested. The results of the performed empirical analysis can be summarized as follows; The first, The relationship between persistence of earnings and ERC have significance of each by itself, this result accord with one of the prior studies. The second, The relationship between growth and ERC have not significance. The third, The relationship between image and ERC have significance of each by itself, but a forecast code doesn't present. This fact shows that image cost does not effect on market management share, is used to prevent market occupancy decrease. The fourth, The relationship between information asymmetry variable and ERC have significance of each by. The fifth, The relationship between systematic risk$(\beta)$ and ERC have not significance. The sixth, The relationship between debt ratio and ERC have significance of each by itself, but a forecast code doesn't present. This fact is judged that it is due to the effect of financial leverage effect and a tendency of interest.

• Journal of the Korean Dietetic Association
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• v.22 no.2
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• pp.118-130
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• 2016

The objectives of this study were to analyze the operational characteristics and to explore the substantiality plan of inpatient diets for foreigners in hospitals. Questionnaires were mail-delivered to 128 hospitals, and a total of 62 questionnaires were usable with a response rate of 48.4 percent. Statistical data analysis was completed using SPSS Win 11.0 for descriptive analysis, independent t-test, and ${\chi}^2$ test. Results can be summarized as follows. The average number of inpatient meals for foreigners in the last 6 months were 405 and 53 for general therapeutic diets and special therapeutic diets, respectively. The rates of hospitals with an exclusive department and exclusive staff for foreign inpatients were 48.4% and 53.2%, respectively. Major nationalities of foreign inpatients were China (37.5%) and Russia (31.3%), and their major medical departments were internal medicine (43.9%) and surgery (39.0%). The number of hospitals that provided inpatient diet only for foreigners was 42 (72.4%) and influencing factors were number of permitted beds (P<0.05), an exclusive department (P<0.001), and exclusive staff (P<0.01). The main type of menu was USA European style (61.1%), and the price of inpatient meals for foreigners was mostly \10,000~\25,000 (62.0%). As 75.9% of hospitals did not possess dietary slip manuals for foreigners, the case of preparing inpatient meals for foreigners in the form of a general therapeutic diet partially-modified according to disease was the majority (55.4%). Dietitians felt the need for nutrition management guidelines and dietary slip manuals (47.3%) as a substantiality plan of inpatient diets for foreigners. There is a need for exclusive foodservice standards for foreign inpatients in the changing medical environment.

• The Journal of Fisheries Business Administration
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• v.14 no.2
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• pp.15-68
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• 1983

From the economic point of view the fishing port is the complex of installations on land, organized to serve the fishing fleet and its cargo, and is the main link in the production chain of all components of the fishing industry, with the aim of achieving the planned targets with the minimum cost. Fishing port investment decisions have had significant impact on the development aims of Korean fisheries. Fishing port investments in Korea are made mostly by public or semipublic port authorities. Such investments should be judged not purely on the basis of financial profitability but rather on the extent to which they serve the development aims of the fishing industry. This makes the economic appraisal process more complex and presents certain problems in correctly quantifying the economic costs and benefits of the fishing port projects. This study concentrates more on the theoretical economic appraisal models than on the purely financial aspects of fishing port investments and points out the difference between the two approaches. In the result, there is clearly an element of judgment as to whether or not a shadow price needs to be used in estimating economic benefits and costs. From this viewpoint, some attempts are made to provide definitions of the possible economic benefits and costs, and methods for estimating and evaluating them in Part III and IV. Especially queueing theory is applied in the calculation of economic benefits. When a project is contemplated and analysis shows it to Lave a positive NPV, one question that arises is whether it should be implemented now or delayed. In this paper, the first year rate of return method is regarded as a more concise way of solving the timing of investment, At the end of Part IV, risk analysis of fishing port investments is considered. It can be handled in a number of ways, ranging from informal judgment to complex statistical analyses involving large-scale computer models, This paper recommends that evaluators of fishing port investments use the sensitivity analysis indicating exactly how much NPV will change in response to a given change in an input variable, other things held constant. Decisions regarding the amount of capacity to provide must be made in fishing port investments. Providing too much service would involve excessive capital costs. On the other hand, not providing enough service capacity would cause the waiting line of fishing vessels to become excessively long at times. Therefore, in Part V, the optimal number of berths and berth productivity in fishing port are defined as follows: Minimize E(TC) ＝ E(WC)＋E(SC) The minimum of this function is the solution and that is the optimal number of berth and berth productivity in fishing port.

• Journal of the Korean Society of Costume
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• v.65 no.1
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• pp.46-60
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• 2015

This study analyzed the process of development and verification of standards through the competency analysis of fashion accessories products in the development of 'National Competency Standards'(NCS), which was carried out in 2013 for the fashion industry. The NCS for fashion accessories production was developed through three Focus Group Interviews (FGIs) and fashion accessories production was defined as "the process of design, development and manufacture intended to produce items that improve the degree of completion of fashion products that are produced from textile fabric, knitted fabric, leather and other materials such as bags, belts, hats, gloves, scarves, neckties and socks with the exception of clothes". The competency unit for fashion accessories production was analyzed in 11 categories: development of design; development of materials; production of prototype samples; calculation of cost; determination of mass production model and price; planning of main manufacture process; ordering of materials; planning for mass production; preparation for mass production; mass production; and inspection of completed products, and the verification was carried out on development outcomes through a survey carried out of on-site personnel. This study recommends the following direction for future improvements based on an analysis of the development process of the NCS for fashion accessories production. First, future development of standards should first provide a rational category system for each area of fashion good production based on the production process, which should be followed by a detailed competency survey. Second, in order to ensure a more efficient verification survey, an expert for each competency unit should be designated for the develop standard to induce a more sincere response. Also the questionnaire should require supplementation in order to collect the various additional opinions of experts of the field. Finally, this study concludes that it is urgent to procure an education infrastructure and specialized professors in order to apply the competency standard for fashion accessories production to the education sector. This study also concludes that the government will be required to provide systematic and consistent support aimed at supplementing development and forming a firm collaborative working environment for the industry and academia in order to improve the current education environment and build a more field-oriented education environment.

• Korean Journal of Construction Engineering and Management
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• v.6 no.3 s.25
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• pp.144-155
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• 2005

Since 1950s, the Korean housing market has continually experienced the chronicle lack of housing stock because of lower housing investment in comparison with a population explosion, prompt urbanization and rapid restructuring of family. The Korean housing market have thus been driven not by the pricing model by housing demand-supply chain but by the Korean housing policies focusing on the increase of housing supply and the living stability of the middle or low-income bracket. After all, repetitive economic vicious circle of housing price and the increase of unsold apartments aggravated the malfunction of the Korean housing market. Meanwhile, the Korean construction firms have exacerbated their profitability. Such terrible situations are mainly triggered by the Korean construction firms that weighed on the short-term profits and quick response of the government policy alterations rather than the prospect of housing market Therefore, this research focusing on the dynamics of housing market identified and classified the demand and supply elements that consist not only of housing system structures but also of the environmental elements that affect the structures. Based on the system thinking and traditional theory of consumer's choice, the interactions of these elements were constructed as a causal loop diagram that explains the mutual influences among housing subsystems with feedback loops. This paper describes and discusses about the causes of the dynamic changes in the Korean housing market. This study would help housing suppliers, including housing developers, construction firms, etc., to form a more comprehensive understanding on the fundamental issues that constitute the Korean housing market and thereby increasing their long term as well as minimizing the risk involved in the housing supply businesses.

• Journal of the Korean Society of Clothing and Textiles
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• v.30 no.12 s.159
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• pp.1768-1777
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• 2006

As the fashion industry comes under the influence of globalization throughout all fields of industry, the globalization and the market entry strategies are required for Korean fashion firms. This study attempted to analyze the factors influencing foreign entry mode of Korean fashion business based on Eclectic Theory. Data collection has been carried out from November 25 until December 25, 2005. The questionnaires were sent through e-mail or fax to 622 trading companies. 67 questionnaires were returned for a response rate of 10.7%. Of these returns, 61 usable questionnaires were employed for data analyses. Descriptive analysis, factor analysis, discriminant analysis, and t-test were used for data analysis. First, the most important venture motivation was price competitiveness and many firms were engaged in both production and sales in their target countries, which were mainly in Southeast Asia. Second, the firm's ability and experience were found out as ownership advantage factor, investment stability and market potential as location advantage factor, and contract stability as internalization advantage factor. Third, the result of discriminant analysis showed that location advantage factor was a significant factor in predicting the entry of fashion firms into foreign countries.

• The Journal of the Korea Contents Association
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• v.18 no.4
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• pp.416-427
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• 2018

As the loan size of real estate PF is huge, its market ripple effect gets bigger when overdue occurs. Accordingly, the management of the delinquency rate and macroeconomic analysis are required. As the preceding research mainly proceeded with microeconomic analysis through the real estate PF data of individual banks to evaluate importance of list or analyzed core factors for delinquency, it lacked research on comprehensive real estate PF size. In order to overcome the limitations of such data, this research studied real estate PF delinquency rate of the entire market and effect relationship by the size. The research utilized the size of real estate PF loans, money supply, interest rate, consumer price index(CPI), and GDP data. Also, it applied the first model of VECM as linear relationship between at least two or more variables, following the result of co-integration test. As a result of Granger-causality test, the real estate PF loans delinquency rate is influenced by their loan size, and as a result of impulse response analysis, the interest rate is shown to be affecting delinquency rate the most. Interest rate could risesomeday and aggravate the delinquency rate of real estate PF. Also, risk exposure could be serious as the loan size increases.Therefore, the management of real estate PF delinquency rate requires continuous monitoring, tracking and observing issued loans from a macro point of view. The plans to prevent delinquency will be necessary.

• Journal of the Korean association of regional geographers
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• v.17 no.6
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• pp.710-725
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• 2011

The purpose of this study is to analyze both residential conditions and the resident impressions of the transition zone of central Daegu. The results drawn from a questionnaire survey of the residents are summarized as follows: 1) The proportion of people over the age of 60 living on a low income is high and consists mostly of retired citizens who have lived in the transition zone, in their own homes, for an extended length of time 2) The condition of infrastructure in the transition zone is very poor, however, despite the housing deterioration, the internal repair and maintenance of houses is more satisfactory than their external appearance. 3) Residential satisfaction received high ratings in every category except pollution and housing price. This response appears to stem from the easy commute of residents as well as the ready availability of facilities in the city center. 4) In terms of residential satisfaction, the residents can be divided into two groups. The first, with a high satisfaction rate, consists mainly of senior citizens who possess both personal homes and a stable living, having resided in the city center for most of their lives. The second, with a lower satisfaction rate, is composed mostly of younger residents who have lived temporarily in inexpensive rental homes. As a results, the residential area in the transition zone of central Daegu does not appear to be a problematic area like the slum of the West, but instead a stable settlement for its residents.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.7
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• pp.343-353
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• 2018

Most local governments operate Mobility Support Centers to provide transportation convenience for the transportation vulnerable. A Mobility Support Center makes various efforts to improve the mobility of the transportation vulnerable. One of them is the operation of a Special Transportation Vehicle (STV). On the other hand, during implementation, problems, such as insufficient number of vehicles and high demand, have been found. Nevertheless, improving the service by providing a large amount of STV can be a problem in terms of the budget. Therefore, it is necessary to gather opinions of the users and identify the problems during the utilization of a Mobility Support Center. Moreover, it is necessary to improve various services to achieve a better and more comfortable utilization. In this research, SEM was used to analyze the importance of the Mobility Support Center for the transportation vulnerable. The importance and performance drawn and examined through an analysis and questionnaire survey were used to propose IPA results that consider the importance and performance at the same time. In addition, this research also suggest a service improvement priority based on the analysis result. For the analysis, this research conducted a questionnaire survey on the actual users and their guardians who use STV in Cheonan-city, as well as factor analysis and reliability analysis. The results showed that the 'Charge system' is not affected by the service because it is fully satisfied by the low price when compared to public transportation. In addition, 'Vehicle use' is more important than 'Convenience' service. IPA analysis showed that it is necessary to improve the priority, kindness, waiting time, and call center response for the better and more comfortable utilization of Mobility Support Centers for the transportation vulnerable.