• Journal of Distribution Science
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• v.12 no.5
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• pp.71-80
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• 2014

Purpose - The object of this paper is to ascertain how Japan has become a powerful trader in the international grain market. A case in point is the world's third largest U.S. major grain trader, Gavilon, merged with general trading company Marubeni in 2012. What are Japan's strategies and their implications? Research design, data, and methodology - The study analyzed Japanese Ministry of Agriculture, Forestry, and Fisheries data, and data from daily and weekly papers. The paper employed various data and research methodologies. Results - The Lee Myeong-Bak government tried for three years to create a company similar to Cargill, but the project eventually failed. On the other hand, Japan has emerged as a leader in the international grain distribution market for the past 50 years, with the cooperation of government and private companies. Conclusion - The findings of this study show that Korea, China, India, and other countries' international major grain companies now compete to be powerful, major grain traders. South Korea could be the leader of the international grain market through the development of a more careful and long-term strategy.

• Proceedings of the KIEE Conference
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• 2001.07a
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• pp.550-552
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• 2001

The vertically integrated power industry was divided into six generation companies and one market operator, where electricity trading was launched at power exchange. In this environment, the profits of each generation companies are guaranteed according to utilization of their own generation equipments. Especially, the electricity demand shows seasonal and weekly regular pattern, which the some capacity should be provided into ancillary service based on the past demand forecasting error and operating results of electricity market. Namely, if generation cost function is applied to SMP and BLMP as announced the previous day, the available generation capacity of the following day could be optimally distributed, and therefore contract capacity of ancillary service applied to CBP(Cost Based Pool) and TWBP(Two-Way Bidding Pool) is determined. Consequently, it is Possible to use the retained equipments optimally. This paper represents on efficient bidding strategies for generation equipments through the calculation of the contract and the application of each generator cost function based on the past demand forecasting error and market operating data.

• Review of Culture and Economy
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• v.20 no.1
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• pp.105-128
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• 2017

The purpose of this paper is to analyze the impact of distributors on the movie exhibition by distributor types. For the analysis, the concept 'screen elasticity of box office' is adopted. Using the weekly screening data of 94 hit movies released in Korea in 2014 and 2015, the panel analysis estimates the 'screen elasticity of box office' with the Hausman-Taylor estimator. The results show that the screen elasticity of box office is smaller for vertically integrated distributors(CJ E&M and Lotte Entertainment) and Hollywood distributors than the local distributors(Showbox and NEW) that do not own integrated cinemas. This means that exhibitors allocate a larger number of screens to vertically integrated distributors and Hollywood distributors. As the two distributor groups had higher market share during the period, the results imply that the screen elasticity is related to the market performance of distributors. Smaller screen elasticity of the vertically integrated distributors might be related not to the ownership to theaters but to higher market share of the distributors.

• Journal of Digital Convergence
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• v.13 no.8
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• pp.153-160
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• 2015

The domestic stock market has been subjected to a major change since the September 1997 financial crisis. Foreign capital came repeat themselves in the stock market and bond market, foreign exchange market opening up domestic financial markets after the financial crisis. The domestic stock market has been most affected by domestic capital before the financial crisis. But it has been receiving an absolute influenced by foreign capital after the financial crisis. The purpose of this study is to analyze the trends in the two sections that look at any changes in the volatility of the KOSPI appears after the crisis. To this, obtained a daily weekly monthly normal distribution and kurtosis, skewness degree it should be analyze the tilt phenomenon and variability of the two intervals. This study also predict the future movement of the domestic stock market Based on this, look at the difference between the two sections. Analysis result, after the financial crisis change width has a reduction but direction of the KOSPI has appeared relatively distinct in the medium to long term. Based on this future market seems desirable the mid- to long-term investment looking for direction.

• Communications for Statistical Applications and Methods
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• v.23 no.3
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• pp.203-213
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• 2016

We investigate volatility spillover aspects of realized volatilities (RVs) for the log returns of the Korea Composite Stock Price Index (KOSPI) and the Hang Seng Index (HSI) from 2009-2013. For all RVs, significant long memories and asymmetries are identified. For a model selection, we consider three commonly used time series models as well as three models that incorporate long memory and asymmetry. Taking into account of goodness-of-fit and forecasting ability, Leverage heteroskedastic autoregressive realized volatility (LHAR) model is selected for the given data. The LHAR model finds significant decompositions of the spillover effect from the HSI to the KOSPI into moderate negative daily spillover, positive weekly spillover and positive monthly spillover, and from the KOSPI to the HSI into substantial negative weekly spillover and positive monthly spillover. An interesting result from the analysis is that the daily volatility spillover from the HSI to the KOSPI is significant versus the insignificant daily volatility spillover of the KOSPI to HSI. The daily volatility in Hong Kong affects next day volatility in Korea but the daily volatility in Korea does not affect next day volatility in Hong Kong.

• The Journal of Fisheries Business Administration
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• v.41 no.1
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• pp.73-91
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• 2010

The objective of this study is to examine the hedging effectiveness of shrimp futures market. Hedging effectiveness is measured by OLS model based on rolling windows. Analysis data are obtained from Kansai Commodities Exchange in Osaka and are weekly data of frozen shrimp futures and cash prices in the time period from July 9, 2003, to May 9, 2007. The empirical results are summarized as follows:First, the correlation coefficients between the nearby futures price changes and the cash(16/20) price changes are very low and have range from 0.141 to 0.208 values. Second, the minimum variance hedge ratios($\hat{\beta}$) are all statistically different from 0 at the 5% level and range from 0.0477 to 0.5039 values excluding Indian shrimps(26/30). Ex post hedging effectiveness, as measured by the coefficient of determination, $R^2$, is relatively very low and range from a low of 0.4% for west-south Indian shrimps(26/30) to a high 4.3% for Vietnamese shrimps(16/20). Third, ex ante hedging effectiveness, as measured by out-of-sample hedging period, is also very low and range from a low of -4.4% for west-south Indian shrimps(21/25) to a high of 3.4% for Vietnamese shrimps(16/20). This indicates that the shrimp futures market doesn't behave as risk management instrument of shrimp spot.

• Asian-Australasian Journal of Animal Sciences
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• v.18 no.4
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• pp.557-561
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• 2005

The present study was undertaken to investigate the effects of weekly administration of implant type recombinant porcine somatotropin (rpST) on the performance and carcass characteristics in finishing pigs. A total of 120 crossbred (Landrace${\times}$Yorkshire${\times}$Duroc) pigs were employed for 11 weeks in a growth trial in experiment. A rpST designed to implant every 7 d was used. Forty pigs, each weighing 75 kg, were allocated into three rpST treatments; control (CONT), implant of rpST from 75 kg (TRT1) or 90 kg (TRT2) of body weight. The CONT pig and pigs in TRT2 from 75 kg to 90 kg were treated without rpST but with placebo. In rpST-treated pigs, each 100 mg and 125 mg of the equivalent rpST was implanted from live weight of 75 kg to 90 kg and from 90 kg to market weight, respectively. Half of the pigs from each treatment were marketed at live weight of 110 kg and the rest at 130 kg. All pigs were allowed ad libitum access to a commercial feed containing 0.94% and 0.88% of lysine from 75 to 110 kg, 110 to 130 kg of body weights, respectively. rpST had no effect on daily gain, while feed efficiency was improved by 7 to 13% (p<0.05) in the rpST-treated groups compared with the CONT. Compared with the CONT, backfat thickness was decreased by 12% (p<0.05) in TRT1 at 110 kg of market weight, and by 23 to 32% (p<0.05) in the rpST-treated groups at 130 kg of market weight, respectively. Lean muscle rate tended to be higher in TRT1 at both 110 kg and 130 kg of market weight, and carcass fat percentage in the rpST-treated groups was decreased by 33 to 46% (p<0.05) compared with the CONT.

• The Journal of the Korea Contents Association
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• v.15 no.6
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• pp.157-167
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• 2015

This research studied how idol music popularity influences on equilibrium of ecosystem in Korean popular music market. Because most of media & press reported that idol music caused unbalance of whole market so this research issued it. Research method is borrowed production of cultural perspective of Peterson and subject of analysis is selected idol music from Melon weekly music chart(2000-2014), which is No. 1 digital music distributor. The result showed idol music did not bring unbalance of ecosystem structure in Korean polular music market and found it contributed diversity of music genre in music market by introducing various musical style all the more. This kind of untested information should not cause idol music production leading new Korean Wave to shrink. Government related organization has to do policy making based on verified fact in future and it should be handled as important matter for sustainable and expansive reproduction of Korean wave.

• Journal of Distribution Science
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• v.15 no.9
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• pp.85-93
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• 2017

Purpose - The volume and valence of online word-of-mouth(eWOM) have become an important part of the retailer's market success for a wide range of products. This study aims to investigate how the growth of eWOM has generated the product's final financial outcomes in the introductory period influences. Research design, data, and methodology - This study uses weekly box office performance for 117 movies released in the South Korea from July 2015 to June 2016 using Korean Film Council(KOFIC) database. 292,371 posted online review messages were collected from NAVER movie review bulletin board. Using regression analysis, we test whether eWOM incurred during the opening week is valuable to explain the last of box office performance. Three major eWOM metrics were considered after controlling for the major distributional factors. Results - Results support that major eWOM variables play a significant role in box-office outcome prediction. Especially, the growth rate of the positive eWOM volume has a significant effect on the growth potential in sales. Conclusions - The findings highlight that the speed of eWOM growth has an informational value to understand the market reaction to a new product beyond valence and volume. Movie distributors need to take positive online eWOM growth into account to make optimal screen allocation decisions after release.

• Korean Journal of Mathematics
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• v.22 no.3
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• pp.529-552
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• 2014

As we know, some indices and data are strong influence to the price movement of some assets now, but not to another assets and in future. Thus we define some asset models for several time intervals; intraday, weekly, monthly, and yearly asset models. We define these asset models by using Brownian motion with volatility and Poisson process, and several deterministic functions(index function, twitter data function and big-jump simple function etc). In our asset models, these deterministic functions are the positive or negative levels of auxiliary indices, of analyzed data, and for imminent and extreme state(for example, financial shock or the highest popularity in the market). These functions determined by indices, twitter data and shocking news are a kind of one of speciality of our asset models. For reasonableness of our asset models, we introduce several real data, figurers and tables, and simulations. Perhaps from our asset models, for short-term or long-term investment, we can classify and reference many kinds of usual auxiliary indices, information and data.