• Information Systems Review
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• v.4 no.2
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• pp.133-153
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• 2002

Internet lowers the search cost to acquire information about products and sellers price information. Because consumers can easily compare prices among different Internet retailers, the price competition among merchants in Internet has been intensified. For online retailers, it is important to differentiate their sites from competitors based upon services rather than prices. This study investigates which factors influence on consumers price sensitivity in Internet book markets and examines whether consumers price sensitivity has any effect on the type of preferred Internet bookstore (hybrid or pure online book stores). Survey is conducted to empirically investigate the relationship among the various consumer attitudes and price sensitivity. The result shows that price search and price importance have effect on the choice of Internet bookstore. Consumers with higher price sensitivity preferred to purchase books from pure Internet bookstores rather than hybrid (click-and-mortar) bookstores. This study provides an exploratory framework that tries to understand consumer behavior about price sensitivity that might provide some marketing implications to lessen the price competition of Internet retailers.

• Management & Information Systems Review
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• v.35 no.3
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• pp.195-212
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• 2016

Utilizing intra-day volume weighted average price (VWAP) based on 1 minute return data of stocks traded on the Korean Stock Exchange, this paper examines and analyzes abnormal returns in reaction to patent listing disclosures as well as the cumulative abnormal returns, traded volumes, the interaction of VWAP spreads, the reaction of volumes, the reaction of VWAP spreads and the realized returns obtained from trading using an event driven arbitrage strategy. The results of the aforementioned research topics are follows. First, our analysis suggests that on average, 0.92% positive cumulative returns arise 1 minute after the patent listing disclosure announcement with high statistical significance, thereby reconfirming that the Korean stock market is a semi-strong form of the efficient market. Employing 3 separate panel tests differentiated by the size factor, we find that the abnormal returns of small sized stocks were less than the returns of medium sized stocks, which goes to support recent research findings suggesting that the size premium is no longer existent in the Korean stock market. Secondly, we show that among the event driven type strategies, the most outstanding realized returns are from the market making strategies. Furthermore, placing market order trades only at the bid or ask price resulted in negative returns. This implies that strategies utilizing a combination of market orders and limit orders, order cancelations ratios and order flows can enhance realized returns.

• Korean Journal of Poultry Science
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• v.39 no.3
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• pp.233-239
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• 2012

Public forecasts for broiler's prices such as Korea Rural Economic Institute (KREI) outlook information are important for producers and agribusiness decision makers in enhancing economic decision making. However, the KREI forecasts have not been fully evaluated so far. In this study agricultural outlook price forecasts for broiler are evaluated under accuracy-based measures and classification-based measures which test the ability to categorize price movements directionally or within a forecasted range. Agricultural outlook price forecasts for broiler are efficient but biased. In the aspect of the monthly direction of price change 59% of its forecasts over the sample period are correct, and actual prices fall within the forecasted range 32% of the time. Results suggest that it is necessary and meaningful for the agricultural outlook center to evaluate the current forecasting method and try to find an alternative method for improving the forecasting technique.

• Journal of the Korean Regional Science Association
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• v.38 no.4
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• pp.31-44
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• 2022

This study was conducted with the aim of confirming the relevance and effect of the characteristics of the cities and cities in the neighborhood area, focusing on the sale price per square meter of apartment. Specifically, it was intended to determine whether cities in the relevant city and neighborhood area have differential characteristics between the metropolitan area and the non-metropolitan area, whether industrial characteristics, urban planning and development project characteristics, and location characteristics. Comparing the research results of the city and metropolitan area, it was found that there was a correlation in all areas of population characteristics. Industrial and urban planning projects and development project characteristics sectors are not significant in the city, but they appear significant when analyzed in the urban area of the year. When classifying and analyzing the metropolitan area and the non-metropolitan area, both the metropolitan area and the non-metropolitan area were significant in the population sector, and only the distance from Gangnam-gu was significant in the local sector. Since the population is concentrated in the Seoul metropolitan area now, the sale price per square meter of apartments is also concentrated in the Seoul metropolitan area, which is believed to result in such a result. This is judged to be an analysis that appears because the characteristics of the developable status of the metropolitan area and the non-metropolitan area are different. Accordingly, this study shows that the characteristics of neighboring areas as well as the city should be analyzed when analyzing the factors affecting the sale price per square meter of apartment, and suggests that housing market monitoring needs to be carried out together.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.6
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• pp.37-46
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• 2015

This study investigates the relationships among product quality, consumer behavior, customer satisfaction, and customer loyalty on environmental viewpoint. For the empirical study it has been attempted to collect data by using a questionnaire including 18 questions. The respondents who had experienced using green or environmental products were 212 college students. In my research 167 valid cases are selected for a data analysis by SPSS based hierarchical regression analysis technique. The results show that green product quality had significant impacts on customer satisfaction and customer loyalty, and cost factor of green consuming behavior had moderating effects between customer satisfaction and customer loyalty. Empirical results imply that green product quality contributes to customer satisfaction and customer loyalty. Additionally, green consumer behavior on customer satisfaction increase customer loyalty.

• Journal of the Korean Society of Food Science and Nutrition
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• v.41 no.8
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• pp.1182-1189
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• 2012

The purpose of this study was to analyze university student' perception of the price of coffee shops using price sensitivity measurements. The questionnaires were distributed to 640 university students in Changwon, Korea from March 13 to April 8, 2011. A total 571 were used for the final analysis, which excluded improperly-completed questionnaires. The results of this study were as follows. Indifference prices (IDPs) were \2,200 for on-campus coffee shops and \2,850 for off-campus coffee shops. The optimum price points (OPP) were \2,300 for on-campus coffee shops and \2,850 for off-campus coffee shops. The price stress range (PSR) was \100 (\2,200~2,300) for on-campus coffee shops and \0 (\2,850~2,850) for off-campus coffee shops. The point of marginal cheapness (PMC) was \1,100 for on-campus coffee shops and \1,500 for off-campus coffee shops, whereas the point of marginal expensiveness (PME) was \3,600 for on-campus coffee shops and \4,100 for off-campus coffee shops. The ranges of acceptable prices (RAP) were \2,500 (\1,100~3,600) for on-campus coffee shops and \2,600 (\1,500~4,100) for off-campus coffee shops. On the basis of IDP percentage, university students were more sensitive to off-campus coffee shops than on-campus coffee shops. In contrast, on the basis of PSR and RAP, university students were more sensitive to on-campus coffee shops than off-campus coffee shops. Therefore, the price increase for an americano should be recommended to be from \1,100 to \3,600 for on-campus coffee shops and from \1,500 to \4,100 for off-campus coffee shops. The manager of on-campus coffee shops should be careful when increasing the prices, and the manager of off-campus coffee shops should make it possible for customers to perceive service quality.

• Journal of the Korea Society of Computer and Information
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• v.12 no.5
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• pp.103-112
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• 2007

In this paper, we implement a hypervisor that runs multiple uC/OS-II real-time kernels on one microprocessor. The hypervisor virtualizes microprocessor and memory that are main resources managed by uC/OS-II kernel. Microprocessor is virtualized by controlling interrupts that uC/OS-II real-time kernel handles and memory is virtualized by partitioning physical memory. The hypervisor consists of three components: interrupt control routines that virtualize timer interrupt and software interrupt, a startup code that initializes the hypervisor and uC/OS-II kernels, and an API that provides communication between two kernels. The original uC/OS-II kernel needs to be modified slightly in source-code level to run on the hypervisor. We performed a real-time test and an independent computation test on Jupiter 32-bit EISC microprocessor and showed that the virtualized kernels run without problem. The result of our research can reduce the hardware cost, the system space and weight, and system power consumption when the hypervisor is applied in embedded applications that require many embedded microprocessors.

• Korean Journal of Construction Engineering and Management
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• v.13 no.2
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• pp.128-136
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• 2012

In this study, we investigated the macroeconomic variables that affect housing prices thus creating a large impact on people's lives as well as the real estate market. For the study, the macroeconomic variables able to influence the House Rental Price (housing price by lease or deposit) were used for an analysis as follows: housing sales price index, household loans rate, total household savings, the number of employees and a multiple regression analysis was performed using a time series for each macroeconomic variable. As a result of the analysis, the House Rental Price was affected by all of four macroeconomic variables. The House Rental Price increased as each variable enlarged. In conclusion, this study may be useful for finding a solution for stabilizing the House Rental Price as well as for the establishment of efficient and sustainable policies for the housing market.

• The Korean Journal of Applied Statistics
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• v.25 no.1
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• pp.55-66
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• 2012

Option pricing models using L$\acute{e}$evy processes are suggested as an alternative to the Black-Scholes model since empirical studies showed that the Black-Sholes model could not reflect the movement of underlying assets. In this paper, we investigate whether the Variance Gamma model can reflect the movement of underlying assets in the Korean stock market better than the Black-Scholes model. For this purpose, we estimate parameters and perform likelihood ratio tests using KOSPI 200 data based on the density for the log return and the option pricing formula proposed in Madan et al. (1998). We also calculate some statistics to compare the models and examine if the volatility smile is corrected through regression analysis. The results show that the option price estimated under the Variance Gamma process is closer to the market price than the Black-Scholes price; however, the Variance Gamma model still cannot solve the volatility smile phenomenon.

• The KIPS Transactions:PartD
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• v.9D no.5
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• pp.963-970
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• 2002

In this paper, after defining the requirements to improve the processing of Internet auction, we design and implement Internet Auction Agent System (IAAS) based on the requirements. IAAS consists of a multi - agent system with buying/selling/negotiation agents for auction processing in accordance with the given price strategy, a graphic interface for supporting price strategies, an information agent for supplying real time information and remote control of agents, and DB. For the mobility, scalability, functionality and communication efficiency of agents, IAAS is implemented by using Java JDK1.3, Servlet, RMI and socket. Through the comparative analysis, we show that IAAS fulfills the requirements defined. IAAS can improve the convenience of users and the efficiency of auction processing, and thus increase the utilization of Internet auction.