• International Journal of Advanced Culture Technology
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• v.8 no.3
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• pp.1-9
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• 2020

According to the 2012 social blue book released by the Chinese Academy of Social Sciences, China's urban population reached 50% in 2011. With the migration from marriage and new household registration, many urban collective assets have been formed in cities. Due to the unclear property rights and the emptiness of the main body, the distribution of collective assets mostly depends on the village cadres. The central government is preparing relevant laws and regulations to fill this legal gap, while the scheme of restructuring is decided by the villagers' vote, the local government coordinate the land acquisition and management. With the process of urbanization, a large number of second-generation of demolition studied abroad, which has attracted worldwide attention. In addition to the huge amount of compensation, due to the continuous rising of the land price, the value of the collective property and enterprises on the land also keep rising, the management agency of these assets is named village economic cooperative. This paper seeks to analyze the current status and future direction of these wealthy organizations, propose solutions to some existing problems.

• Plant Journal
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• v.7 no.2
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• pp.39-43
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• 2011

Due to the recent uncertainty of market situations such as the escalation of petroleum prices, increased production capacities of plants, limitations of the available EPC (Engineering, Procurement, Construction) contractors, and the increase of raw material prices, EPC contractors have had a tendency to include a higher reserve contingency in the lump-sum turnkey contract price. In order to overcome the changes in the market, the plant project construction industry has started to apply the converted lump-sum turnkey contract in plant construction market. This study was focused to find the associated risks and to analyse the identified risks on recent trend of application of the new contract type, which is the converted lump-sum turnkey contract. It was recognized from the analysis that quality and cost have more high priority risks than other project objectives. This paper also suggests the mitigation plan for identified risks to achieve project objectives appropriate to the converted lump-sum turnkey project from the viewpoint of an EPC contractor keeping transparency with owner.

• Journal of Distribution Science
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• v.19 no.7
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• pp.113-121
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• 2021

Purpose: Technology induces the virtual distribution channel to exist, especially for booking a room online. This situation, indeed, provides an alternative for the customers to book based on their budget through digital platforms. One platform offering competitive prices is virtual hotel operators, such as Airbnb, OYO, RedDoorz, and Airy Rooms. Preferably, after using their platform, the user should be satisfied and loyal. Hence, this investigation aims to prove some associations. The first is between e-satisfaction and e-loyalty. The second is between website quality and e-satisfaction. The final is between website quality and e-loyalty. Research design, data, and methodology: This study is quantitatively designed with the sample of 350 users of the virtual hotel operator applications in Bandar Lampung: Airbnb, OYO, RedDoorz, and Airy, as the samples. Therefore, by denoting this sample size, the structural equation model based on covariance is utilized to examine the three hypotheses proposed. Also, to get the responses, this study uses a survey through a questionnaire. Result: This investigation demonstrates the positive relationship between e-satisfaction and e-loyalty. Additionally, website quality positively associates with e-satisfaction and e-loyalty. Conclusion: The virtual hotel operators must have the superiority on their website-based application to update the information based on the room availability and price, ensure online transaction safety, and facilitate its utilization to maintain long-term satisfaction and loyalty virtually.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.44 no.4
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• pp.98-105
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• 2021

Using the frequency-based decomposition, I decompose the consumption growth to explain well-known patterns of stock returns in the Korean market. To be more specific, the consumption growth is decomposed by its half-life of shocks. The component over four years of half-life is called the business-cycle consumption component, and the components with half-lives under four years are short-run components. I compute the long-run and short-run components of stock excess returns as well and use component-by-component sensitivities to price stock portfolios. As a result, the business-cycle consumption risk with half-life of over four years is useful in explaining the cross-section of size-book-to-market portfolios and size-momentum portfolios in the Korean stock market. The short-run components have their own pricing abilities with mixed direction, so that the restricted one short-term factor model is rejected. The explanatory power with short- and long-run components is comparable to that of the Fama-French three-factor model. The components with one- to four-year half-lives are also helpful in explaining the returns. The results about the long-run components emphasize the importance of long-run component in consumption growth to explain the asset returns.

• The Journal of Fisheries Business Administration
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• v.29 no.2
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• pp.111-141
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• 1998

Why are auctions so prevalent in fisheries fields\ulcorner One answer is, perhaps, that fisheries products have no standard value. The price of any catch of fish (at least of fish destined for the fresh fish market) depends on the demand and supply conditions at a specific moment of time, influenced by prospective market developments and prices must be remade for each transaction. There are various auction schemes including written-bid method in Korea. It is difficult to make decision the application of auction selling in market distribution. One reason is the absence of adequate data on which to base firm statements. There is very little precise information about the relative volume handled by auction scheme as compared with other sales schemes Because of the paucity reliable data, one must depend largely on qualitative in attempting to above this problem. This paper is designed to examine which auction scheme is more efficient as a economic tool by introducing the three auctions, as samples, utilized in Koheung peninsula. Koheung coast with abundant fisheries resource, locates on the Middle-South part in Korea and has three auction firm operating by fisheries cooperatives. fur selling of dry fish included sea weed, live fish and fresh fish respectively, As a result, 1 found that there are three interesting auction schemes as follow : 1. More than one winners are selected as buyers. The highest bidder can at first get fishes he wants to buy, second winner can get surplus fishes after the highest bidder employes one's privilege with the highest pay, and next winner would be a buyer if fishes would be left in sequence after being sold with higher price. Every fisherman can sell one' s fishes with equal unit price if he delivery it to the winner within one day. Therefore, all the vendors feel they are equal members of fisheries cooperation. 2. Written-bid pricing on the cover of handy book. It is easy to write and to erase the figure more than on the small black board, and is convenient also to keep in the pocket. 3. Auctioning on the fixed platform with fixed fish tank is a very fast auction scheme in spite of short displaying time. Auctioneer presides bidding at one place on the fixed platform, instead of moving, vendors should carry a container of live fishes in the fish tank into showing table in front of would-be buyers and auctioneer. Although the applicability of the auction system to a marketing problem depends in part on subjective considerations by those making decision, basically it is a matter of comparative economic efficiency. In general, if the scheme maximizes returns in relation to the effort expanded by both buyers and sellers, it will be utilized. If it does not, a more efficiency may take place over a period of time, but, even more important, those making decisions may become aware of the potentialities of new schemes. Therefore, in order to applicate the three interesting auction schemes introduced in this paper to other fisheries market, it is necessary not only to analyze many other auction schemes but also to compare the economic efficiency those schemes utilizing in other fisheries market.

• Journal of Information Management
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• v.40 no.4
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• pp.135-150
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• 2009

Existing bibliometric laws have been established on the basis of well defined science journals with a long history. However, the history of technology innovation research in Korea is young and the scope of the research is diverse compared with other fields. The main purpose of this research can be summarized as follows : Can the traditional bibliometric laws be used to explain the young and diverse data derived from technology innovation studies in Korea. Second, we want to compare the explain ability of the power law, compared with the traditional laws in the field. Third, we propose a quasi index related to the well-known impact factor to measure the contribution of a journal or a group of journals to the development of innovation research in Korea. We confirmed Lotka's and Bradford's laws which are used to measure the productivity of researchers, but we could not support the validity of Price's Square Root law as Nicholls (1998) could not. On the citations to journals, Garfield's laws is not observed. However, the power law fits well the citations to author, journal, article, and book. The estimated parameters between 1.6 and 3.5 are similar to the values in the range of 1.5 and 3 in previous studies. Finally the quasi index shows that the influence of international leading journals on innovation research in Korea is weaker than on innovation studies in the world.

• Knowledge Management Research
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• v.22 no.2
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• pp.247-268
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• 2021

Investors mainly use PER and PBR among financial ratios for valuation and investment decision-making. I conduct an analysis of two basic financial ratios from a statistical perspective. Financial ratios contain key accounting numbers which reflect firm fundamentals and are useful for valuation or risk analysis such as enterprise credit evaluation and default prediction. The distribution of financial data tends to be extremely heavy-tailed, and PER and PBR show exceedingly high level of kurtosis and their extreme cases often contain significant information on financial risk. In this respect, Extreme Value Theory is required to fit its right tail more precisely. I introduce not only GPD but exGPD. GPD is conventionally preferred model in Extreme Value Theory and exGPD is log-transformed distribution of GPD. exGPD has recently proposed as an alternative of GPD(Lee and Kim, 2019). First, I conduct a simulation for comparing performances of the two distributions using the goodness of fit measures and the estimation of 90-99% percentiles. I also conduct an empirical analysis of Information Technology firms in Korea. Finally, exGPD shows better performance especially for PBR, suggesting that exGPD could be an alternative for GPD for the analysis of financial ratios.

• Information Systems Review
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• v.5 no.1
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• pp.129-146
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• 2003

Increasing number of transactions and investments in technology has sparked a growing interest in technology valuation. However, it has not been easy to come up with an objective valuation of technology due to variance in technology value and specialty of technology valuation. The main objective of this paper lies in the development of a new system for technology valuation, Web-based Interactive Technology Valuation (WITV) system, which valuate the technology and analyze the technology value strategy. WITV system uses the Technology Valuation Attractiveness Model (TVAM). TVA is composed of the Intrinsic Value of Technology (IVT) and the Extrinsic Value of Technology (EVT). This paper experiment the feasibility of the TVA Model and WITV System by conducting an empirical study on small & medium sized manufacturing companies in IT industry, registered on KOSDAQ. In this study, the potential value is defined as the technology value. It is represents the expected profit appraised by the market under the competitiveness of technology and the growth of the market. TVA is measured as the index to forecast the Price-to-Book value Ratio (PBR), which is the proxy variable for the potential value of the technology. The results identify the feasibility of the TVAM through a high correlation between the TVA and the PBR.

• The KIPS Transactions:PartD
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• v.10D no.2
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• pp.317-326
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• 2003

The possession rate of residential telephones tend to decrease as mobile phones are widely spread. There is also a decrease in the access rate of the qualified respondents due to the low rate of phone book registration and that of house owner's presence at home. Such a change in telephone survey environment calls for another survey-channel which makes good use of new telecommunication services. In this paper, a mobile survey system was designed and performed by the use of SMS (Short Message Service) which is a kind of mobile data communication service. The system draws the sample by using random digit sampling based on 'quota allocation', and sends the SMS to the sample according to the arranged scheduler. Then, the survey-panel which received the SMS connects to the responding server by pressing the 'send' button (which is connected by the callback number), responding to the question. As a result, the responding value is stored in the database and is analyzed in real-time. This system is distinguished from other research methodologies for its simplicity in data collection, its inexpensive research price, and the innovatively low research time.

• The Research Journal of the Costume Culture
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• v.25 no.6
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• pp.773-786
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• 2017

The current study aims to analyze the process of fabric production planning in Dongdaemun Market, which is a successful model case industrial integration in South Korea. We followed the changes in perception among fabric experts, regarding their recognition of fashion trends, and the following planning and process of fabric production. We used the purpose sampling method to select participants for interview in the Dongdaemun Market, then we carried out one-to-one interviews. Our analysis reveals 4 points of importance. First, the fabric planning stage either employed the trend book swatch, or simply reused the model fabrics already available. Even though the experts felt the need to accept the latest fashion trends, very few considered the trends as positive influences in fabric planning. Whereas trend was a key element in identifying the flow of the fashion industry, there were obstacles in carrying out the study. Second, experts frequently participated in domestic fabric seminars, but not in textile exhibitions. Third, domestic and overseas market research has been performed typically at department stores, and typically at Japan. Fourth, the influx of Chinese fabrics has both positive and negative influences, such as low price, and low reliability. In conclusion, experts were less amenable to accepting the latest fashion trends. pre-requisites in real life to meet the use of the current trend of each company. More studies on the Dongdaemun Market from perspectives of practitioners are warranted.