• Journal of the Economic Geographical Society of Korea
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• v.13 no.2
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• pp.234-252
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• 2010

This paper examines the tendency of housing assets to become increasingly quasi-financial assets by analyzing the relationships between risks and returns in three Gangnam districts (Gangnam-gu, Seocho-gu and Songpa-gu) apartment markets in Seoul, especially for the apartments to be reconstructed, capitalizing upon some capital asset pricing models (CAPM). A single factor CAPM model shows positive relationships between risks and returns regardless of the types of apartments in three Gangnam districts. Multi-factors CAPM models also confirm that the market and SMB (small minus big) factors are positively related to the rate of returns regardless of the types of apartments. However, the unsystematic risk factor is found to be statistically positive especially for the apartments to be reconstructed, while the momentum factor is dependent upon the regression models used. An analysis on some portfolios classified by the size of apartments and price volatility and/or beta values suggests that there are the positive linear relationships between risks and returns and the SMB factor is clearly found to be significant in determining the rate of returns. In particular, housing assets are highly highlighted as investment goods and/or quasi financial assets for the apartments to be constructed in the Gangnam housing.

• International Journal of Highway Engineering
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• v.10 no.2
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• pp.91-100
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• 2008

The quality of service on urban roadways have been evaluated mainly based on such quantitative measures as travel speed and delay. However, in addition to the quantitative aspects, drivers traveling on urban roadways are subject to be influenced by qualitative measures such as aesthetic aspects of the roadway and other drivers' violation of traffic laws. Based on this notion, this study attempts to identify roadway service quality indices, considering both qualitative and quantitative aspects and evaluate the quality of service using the modified Importance-Performance Analysis (IPA), a technique often applied in the field of marketing. The modified IPA is proposed in this study as a way to evaluate the service quality, reflecting the relative performance between study areas and performance indices. A case study is implemented over the Gangnam and Gangbuk areas in Seoul, resulting in identifying the items needed to be improved for each study area.

• Proceedings of the KOR-KST Conference
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• 2007.11a
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• pp.574-583
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• 2007

The quality of service on urban roadways have been evaluated mainly based on such quantitative measures as travel speed and delay. However, in addition to the quantitative aspects, drivers traveling on urban roadways are subject to be influenced by qualitative measures such as aesthetic aspects of the roadway and other drivers' violation of traffic laws. Based on this notion, this study attempts to identify roadway service quality indices, considering both qualitative and quantitative aspects and evaluate the quality of service using the modified Importance-Performance Analysis (IPA), a technique often applied in the field of marketing. The modified IPA is proposed in this study as a way to evaluate the service quality, reflecting the relative performance between study areas and performance indices. A case study is implemented over the Gangnam and Gangbuk areas in Seoul, resulting in identifying the items needed to be improved for each study area.