• Title/Summary/Keyword: 소매가격

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Verification of Market's Efficiency and CAPM using Capitalization Rate at Commercial Real Estate Market in Seoul (서울의 상업용 부동산 시장에서 자본환원율을 이용한 시장 효율성과 CAPM의 검증)

  • Park, Jongkwon;Lee, Jaesu;Jun, Jaebum
    • Korean Journal of Construction Engineering and Management
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    • v.18 no.1
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    • pp.90-99
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    • 2017
  • This paper is to understand the impact of systematic risk on capitalization rate at office building market and retail real estate market in Seoul and to see if CAPM(Capital Asset Pricing Model) is applicable. For this, this paper considers eight different office building and retail real estate markets in Seoul city area, called GBD, YBD, CBD, and Other Business District, and GBD, SBD, CBD, and Other Business District, to find out if there is any positive-linearity between systematic risk and capitalization rate for each business district not. Then, this paper tries to verify applicability of CAPM to four office building markets and four retail real estate markets with Black, Jensen, and Scholes(1972)'s statistical methodology. At last, the result shows that there is positive linearity between systematic risk and capitalization rate only GBD except Others(YBD, CBD, and other business district) in office building market. In addtion, SBD and CBD, they could be figured out that it is not efficient market because increasing systematic risk declines capitalization rate in retail real estate market. However, CAPM is not applicable in all office building(GBD, YBD, CBD, and other business district) and retail real estate markets(GBD, SBD, CBD, and other business district) in Seoul.

A comparative study on the distribution transaction policy between Korea and Japan: focused on unfair transaction behavior prohibition (유통부문에 있어서 경쟁정책의 비교 연구 - 불공정거래행위에 대한 한국과 일본의 대응방식 -)

  • Yoo, Ki-Joon
    • Journal of Distribution Research
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    • v.15 no.5
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    • pp.103-126
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    • 2010
  • The development of an industry including distribution sector is influenced by not only government policy but the related firms' behaviors. Recently the large-scale retailers have had more enormous channel power than any other distributors including monopolistic makers. Now is the time for government to prepare some policies against the unfair transaction behaviors by large-scale retailers. In this paper I tried to inquire into the distribution competition policy from a political correspondent point of view related with the transition of distribution system. For the purpose of this article I compared the case of Korea with Japan. According to the results so far inquired, there are some commons and differences in the cases of the two. Some suggestions are as follows. Considering the predominant position the concept of large-scale retailers is to be extended from a single store to numerous chain stores in the political level. Government needs to examine the standard propriety for large-scale retailer; the size of selling area and amount of sales a year. When a large-scale retailer store is to be established, it need to be taken a permit or a pre-inspection. The Fair Trade Commission have to secure the neutrality from Government's strategies. And government should find out the examples of unfair transaction behavior types and prepare some proper guidelines continually. For the last time statistical data by distributors are to be fitted out and the actual investigations for estimating the effects of government policies need to be enforced.

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Pricing Strategy, Profit Sharing, and Market Structure in Digital Music Contents Industry (디지털 음악 콘텐츠 시장에서의 가격전략, 수익배분 및 시장구조)

  • Jang, Dae-Cheol;An, Byeong-Hun
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • 2008.10a
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    • pp.197-217
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    • 2008
  • 본 논문에서는 현재 국내의 디지털 음악 콘텐츠 산업에서 이슈가 되고 있는 정액제와 수익배분 비율 문제를 중심으로 수리적 모형을 사용하여 분석하였다. 특히 국내의 현황을 반영하여 음원권리자와 이동통신사의 문제에 더욱 초점을 맞추었다. 본 논문의 연구결과는 다음과 같다. 첫째, 이동통신사와 음원권리자 사이에서는 정액제를 선택하든 종량제를 선택하든 중요하지 않을 수 있다는 것이다. 중요한 것은 음원권리자가 수익배분비율을 그리고 이동통신사가 음원판매소매가격을 자율적으로 결정할 수 있어야 한다는 것이고 두 게임참여자가 서로 이익을 얻을 수 있는 수익배분방법과 비율이 존재한다는 점이다. 둘째, 정액제는 오히려 소비자와 이동통신사간의 관계에 영향을 미치게 되는데 이동통신사에게는 유리하고 소비자에게는 불리하게 된다는 것이다. 특히, 이동통신사와 음원권리자가 수직적으로 통합되어 경쟁하는 시장구조하에서는 소비자에게 불리한 경향이 더욱 심화되므로 정액제 보다는 종량제 가격의 하락을 통해서 온라인 음악 시장의 성장을 유도하는 것이 소비자에게 유리하게 된다. 이와 같은 온라인 음악시장의 성장은 중장기적으로 사업자들에게도 도움이 될 것이다.

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A choice of Pricing methodology for mobile market situation (이동망 시장상황에 따른 적정요금산정방식 분석)

  • 강선아
    • Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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    • 2002.11a
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    • pp.693-696
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    • 2002
  • 이동전화시장은 제공되는 서비스와 거래주체 등에 따라 소매시장과 도매시장으로 분류된다. 특별히 도매시장에 해당되는 이동착신요금은 최종수요자에게 이동전화서비스를 제공하기 위한 사업자간 거래로서 원가에 근거하여 산정 되도록 규제되고 있다. 그리고 원가에 근거한 방식으로는 장기증분원가방식(TSLRIC: total service long run incremental costs)에 따른 요금산정방식이 최근 통신선진국을 비롯하여 도입 추진 중에 있다. 한편 호주에서는 이러한 추세와 다르게 최근 이동착신요금을 장기증분원가방식이 아닌 소매가격벤치마킹 (retail benchmarking)방식을 적용토록 하였다. 이러한 이유는 호주의 이동망 시장이 다른 통신선진국과 달리 경쟁의 정도나 상황이 다름에 기인한다. 따라서 본 고에서는 이동망 착신요금산정방식으로 고려될 수 있는 적절한 방식들에 대한 검토와 호주의 이동망시장상황과 이에 적합한 요금산정방식을 검토 분석하여 국내 이동망 시장에 주는 시사점을 도출한다.

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Study on Interrelation between the Service Industrial Production Index and the Service Industrial Wholesale and Retail Index (서비스업생산지수와 서비스업도소매지수와의 상호연관성에 관한 연구)

  • Kim, Joo Il
    • Journal of Service Research and Studies
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    • v.6 no.1
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    • pp.83-95
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    • 2016
  • We examine the information transmission between the Service Industrial Production Index and the Service Industrial Wholesale and Retail Index, based on the returns data offered by the Korea Bank. The data includes daily return data from January 2000 to September 2015. Utilizing a dynamic analytical tool-the VAR model, Granger Causality test, Impulse Response Function and Variance Decomposition have been implemented. The results of the analysis are as follows. Firstly, results of Granger Causality test suggests the existence of mutual causality the Service Industrial Production Index precede and have explanatory power the Service Industrial Wholesale and Retail Index However the results also identified a greater causality and explanatory power of the Service Industrial Wholesale and Retail Index over the Service Industrial Production Index. Secondly, the results of impulse response function suggest that the Service Industrial Production Index show immediate response to the Service Industrial Wholesale and Retail Index and are influenced by till time 5 From time 2, the impact gradually disappears. Also the Service Industrial Wholesale and Retail Index show immediate response to the Service Industrial Production Index and are influenced by till time 2.5, the impact gradually disappears. Lastly, the variance decomposition analysis shows that the changes of return of Service Industrial Production Index are dependent on those of the Service Industrial Wholesale and Retail Index. This implies that returns on the Service Industrial Production Index have a significant influence over returns on the Service Industrial Wholesale and Retail Index. It contributes to the understanding of market price formation function through analysis of detached the Service Industrial Production Index and Service Industrial Wholesale and Retail Index. Finally, our results can be used as a guide by the Korea Bank and Republic of Korea and as well as Statistics Korea.

A comparative study between Korea and the USA on the development process in retail trade & its changing locations (소매업의 발달과정과 입지 변화에 관한 한.미 비교 연구)

  • Jeon, Kyung-Sook
    • Journal of the Korean association of regional geographers
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    • v.6 no.2
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    • pp.21-40
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    • 2000
  • The retail trades in many countries have changed recently according to the high quality, diversification, and marked individuality of consumer needs. Under the continually competing system of the WTO agreement, corporations based in the USA and the EU try to raise their market share in other countries so it is inevitable for Korean retail enterprises to compete with them. This paper is aimed at contributing to the efficient growth for Korean retail trade from the analysis of the development process in retail trade and its changing locations comparing Korea and the USA. Retailers in the USA have practiced diversified marketing strategies considerably in order to survive in a rapidly changing retailing environment. American retailing, which has the most advanced marketing system in the world, has been of growing concern to marketing strategies in Korea. The following is a brief summary of this study. 1. Speedy and higher quality consumption is needed in accordance with the great increase in the single-family household and the female labor force participation both in Korea and in the USA. Senior citizens have become a new consumer group due to the aging population. In the future the retail trade will switch over to diversified retail formats and internet shopping as countries are transformed into information and communication societies. 2. In Korea, the former retail system characterized by markets and department stores has been greatly changed since the late 1980s with emphasis on high quality and convenience in consumption behaviors, with large domestic enterprises and foreign distribution corporations participating in Korean retailing. In the USA, retailing mergers and takeovers by major retails, bankruptcies, and extra-large shopping centers have emerged since the late 1980s. Recently, the USA retailing formats have been changed from the lower price-oriented discount types to the large scale theme parks. Much emphasis was put on entertainment, resorts, and convention centers. On the other hand, non-store types, such as the internet shopping, the CATV shopping, as well as catalog and mail-order sales are drastically increasing, although the proportion of their sales is low up to now. 3. In Korea, most of the retail facilities are concentrated in Seoul and the Metropolitan Region, and the distribution ratio of facilities came to 52% in 1997. The periodic markets, traditional markets which open on a periodic basis, are located mainly in Chollanam-do and Kyungsangbuk-do. The large-sized discount stores have expanded their locations to the over-crowded apartment complexes in new towns, located in the Metropolitan Region, and the large provincial cities, unlike the suburban locations in the USA. Therefore we needed to give attention to the locational relations in retail facilities between Seoul & the Metropolitan Region and rural settlement areas. In the USA, urban areas grew quickly with the development of the automobile in the 1920s, and the location of stores changed from a dispersed style centering around rural areas to a centralized one in urban areas. There is an accelerated growth for suburban areas, which have grown rapidly since 1950. As the membership warehouse clubs were introduced in the 1970s, the decentralization of location was more intensified. On the other hand, inner cities were revitalized by rearranging existing facilities to cope with suburban areas. And the location-free virtual retailing & TV shopping are also growing every year. 4. In view of the above, the continuous and desirable development devices in Korean retail trade are summarized as follows: First, the countermeasures against economies of scale, increase in retailing sales, and rise of a employment percentage in retailing are in need. Second, a scheme of lowering the proportion of food retail sales, and increasing a ratio of durable goods sales need to be worked out. Third, the original ideas are needed to apply positively information, communication and technology to retailing, to graft the traditional types on modem ones based on the social culture. Fourth, strategies are needed to strengthen the competitiveness of our retail trade through cooperation and chains of smaller retailers, the large enterprises participating in the distribution industry. Fifth, in order to realize the above, the retail industry, the administration, and the academic world should support the retail segment with concern and a practical strategy plan.

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Impact of Differentials in Gas Prices on Consumers' Shopping Behaviors (지역 간 휘발유 가격 차이가 고객의 휘발유 구매 행태에 미치는 영향)

  • Lee, Jeongeun;Jung, Hojin
    • The Journal of the Korea Contents Association
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    • v.15 no.9
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    • pp.445-453
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    • 2015
  • We empirically investigated how differentials in gasoline prices influenced consumers' shopping behaviors at the gas pump. Among dimensions of many gas shopping behaviors, we focused on consumer decisions of purchase quantity and locations and found that price differentials across regions had statistically significant and negative effects on two consumers' decisions. Our findings provide important implications for the future research on gasoline demand and make a substantial contribution to empirical knowledge about how consumers make purchases in the gasoline retail industry.

Assessment of a Power Retail cost applying to WADE Economic Model (WADE Economic Model에 의한 전력소매가격 산정)

  • Kim, Yong-Ha;Chang, Sang-Gyu;Jo, Sung-Lin;Jung, Hyeon-Sung;Lee, Yong-Suk;Son, Seung-Hee
    • Proceedings of the KIEE Conference
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    • 2007.07a
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    • pp.67-68
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    • 2007
  • This Paper calculated Retail costs as the economic and environmental impacts of supplying incremental electric load growth with varying mixes of DE(Decentralized Energy) and CG(Centralized Generation) applying to WADE Economic Model in 2020.

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Retail Sale Advertising: Effects of Reference Price, Price Rationale and Price-Quality Inference on Evaluation of Apparel Attributes (비교가격 광고의 준거가격과 소매점의 가격할인취지 및 소비자의 가격 -품질 연상 심리 수준이 의류제품 속성 평가에 미치는 영향-)

  • Hyun, Ji-Eun;Hong, Hee-Sook
    • Journal of Global Scholars of Marketing Science
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    • v.9
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    • pp.47-75
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    • 2002
  • The purpose of this study is to identify the effects of reference price, price rationale and price-quality inference of consumer on the evaluation of apparel quality. The experimental materials developed for this study were a set of stimulus and response sheet. The stimuli were six print ads, which was manipulated by reference price and price rationale for a jacket of national brand. This study used a 2(reference price: offer and non offer)$\times$3(price rationale: non offer, stock disposal, sales promotion) $\times$2(price-quality inference of consumer: high and low level) between-subjects experiment. Subjects were 371 female university students. The data were analyzed by factor analysis, ANOVA and t-test. The results were as follows. First, three apparel attributes were identified: sewing/fabrics and label by factor analysis. Second, the significant interaction effects of reference price, price rationale and price-quality inference of consumer were found on evaluating quality of sewing/fabrics and label of apparel. So, reference price effect differed to depending on type of price rationale and levels of price-quality inference. Third, the significant main effect of price-quality inference of consumer existed on evaluating construction quality of apparel.

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A Study on Chinese Medicine Commerce Agent in Cyber Space Market Place (사이버 시장에서의 한약재 거래 에이전트에 관한 연구)

  • 조성진;허철회;정환묵
    • Proceedings of the Korean Institute of Intelligent Systems Conference
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    • 2004.04a
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    • pp.79-82
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    • 2004
  • 급격한 정보기술의 발전에 따른 인터넷과 폭발적인 휴대전화 등의 보급에 따라 가정, 사회등의 광범위한 부문에 급격한 변화가 일어나고 있다. 정보기술을 이용한 상거래 형태와 사이버 상에서 대규모의 판매점이 늘어나고 있으며 생산자와 소비자 사이에 직접 거래 및 주문거래 등 상거래의 형태가 변화되고 있다. 전통적인 거래 방식이 점차 감소하는 대신 사이버 상에서의 거래 형태는 점차 증가하고 있다. 한약재의 경우는 일반 농산물과는 달리 산지수집상, 도ㆍ소매상, 한약재 규격품 제조업자, 의약품 도 ㆍ소매업소 둥 복잡한 단계를 거쳐 유통되고 있기 때문에 수급조절이나 가격형성 시스템에 많은 변화를 가져오고 있다. 본 논문에서는 한약재 시장을 모델로 하여 다양한 형태의 거래 지원 방법, 거래 형태에 따른 가격 정보를 지능에이전트를 이용하여 처리할 수 있는 가능성을 제시하였다.

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