• Journal of the Economic Geographical Society of Korea
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• v.12 no.4
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• pp.665-680
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• 2009

This study aims at analyzing the performance of Real Estate Investment Trusts(REITs) by Risk Adjustment Model. The main results are as follows. Firstly, most property types of REITs gain positive(+) excess overall returns at first and second period. On the contrary, most property types of REITs gain negative(-) excess overall returns and their standard deviations are larger at financial crisis period. Secondly, lodging, regional mall and commercial mortgage show lower risk-lower return, and freestanding, apartment and specialty show higher risk-higher return than average REITs, according to the CAPM results of . Moreover CAPM results of show the characteristics of REITs as investment commodities changes into higher risk-higher return for financial crisis period. Lastly, risk adjusted demanded returns of REITs are affected positively(+) by systemic risks and negatively(-) by unsystemic risks, according to the Risk Adjustment Model results of both and . Comparing risk adjusted demanded returns of REITs with their realized returns, healthcare reveals the largest outperformance.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.10
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• pp.537-547
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• 2016

Deep Sea Water (DSW) has been exploited mainly by industry in a few countries including the U.S., Japan, Taiwan, and Korea. The development strategy of these states has pursued various goals based on their unique industrial environments and visions. Among them, Taiwan recently started their DSW industrialization, but has rapidly developed a variety of technologies and products. On the contrary, the Korean DSW industry has remained stagnant in the initial and growing stages for years, and now appears to need new plans and strategies for further development. The current literature lacks the strategy and policies required to foster the development of the domestic DSW industry. Relying upon the case of advanced foreign DSW industries, this study delineates the current status of the Korean DSW industry and discusses its future direction. Taiwan in particular has moved forward with policy development, financial and operation systems. This study attempts to provide a set of guidelines for the Korean DSW industry by focusing on the case of its Taiwanese equivalent. The Taiwanese strategical plans include premium drinkable water, government driven industrialization, diversification of DSW technologies and development of value-added products. This study provides a new direction for the DSW industry.

• Journal of Korea Port Economic Association
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• v.37 no.3
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• pp.55-74
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• 2021

The role of container ports contributes greatly to international trade and national or regional economic development by supporting maritime transportation and occupies a central position in the supply chain connecting sea and land. The performance(traffic volume) of a port generally depends on geographic, economic, and operational factors etc. For the past several decades, container port volumes have grown with fluctuation. This study amis to analyze how global ports have undergone changes in terms of cargo volume by region, size and period. For the analysis, only the volumes of global top 100 ports were used. Shift-share analysis and BCG matrix analysis were employed as methodologies. According to the result of the analysis, the relative volatility of port traffic over the past 16 years as a whole was found to be limited. On the other hand, ports in China and Southeast and Southwest Asia, which are economically growing for the last decades, showed growing trends, while ports in Northeast Asia and Europe appeared to be in a stagnant or declining phase. It also shows that most of the global ports maintain limited changes in cargo volume because they are already positioned as central ports in the region. In addition, it can be seen that the global port volume has a close relationship with the change in the economic capability of the relevant region or country.