• Journal of Distribution Science
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• v.18 no.2
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• pp.99-108
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• 2020

Purpose: This paper investigated the relationship between market competition and firm valuation error. Furthermore, Additional analyses were made according to the quality of financial reports and the listed market. Through the process we confirm to the impact of competition on the capital market. The purpose of this study is to analyze the impact of competition on valuation errors. The preceding studies did not provide a consistent results of the effects of competing functions on the capital market. One view is that the competition could mitigate the information asymmetry, and the other is that monopolistic lessens the manager's involvement in financial reporting. This study is intended to expand the prior study by analyzing the impact of competition on the capital market and on the valuation of investors. Research design, data, and methodology: The analysis was conducted on 12,031 samples over 11 years from 2008 to 2018 using data from market in Korea. Here the valuation error was measured by the research methodology of Rhodes-Kropf, Robinson and Viswanathan (2005), and competition measured by Herfindahl-Hirschman Index multiplied by (-1), and Concentration Ratio by (-1). Results: We confirm that the positive relationship between competition and the valuation error. In addition, we also found that the positive relation between competition and valuation error was in cases of low discretionary accruals and the KOSDAQ market. This means that the net function of competition does not mitigate valuation errors. Conclusions. This study has the following contributions when compared to prior research. First, the relevance between the level of competition and the valuation of the entity was confirmed. The study by Haw, Hu and Lee (2015) suggested that monopolistic industry of analysts' forecast is more accurate due to lower the variability in earnings. This study magnified it to confirm that monopolistic lessen information uncertainty in valuation. Second, the study on valuation errors was expanded. While the study on the effect of valuation errors on the capital market is generally relatively active, it is different that competition degree has analyzed the effect on valuation errors amid the lack of research on the effect on valuation errors.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.2
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• pp.175-181
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• 2023

Competition assures improved products and services to meet customers' needs. The soundness of a firm's financial health is crucial for the country's economic well-being. Distressed companies cause investor panic, which has a knock-on effect on the economy and leads to a deterioration in the image and value of the companies. This paper aims to empirically investigate the influence of competition on financial distress (FD) in the healthcare industry using the Altman Zscore values as the proxy for FD. This study uses secondary data from ten healthcare companies operating in India between 2016 and 2020. The study's findings indicate a significant negative relation with the exogenous variables of the study, implying that a higher level of competition enhances a firm's FD or adversely affects financial health. The main implication of the study is two-pronged. Firstly, the firms' managers and decision-makers need not worry about competition as a deterrent to stability. Secondly, the policymakers need not be concerned that high competition may lead to financial stress for the firms. Therefore, this paper concludes that competition is good for firms operating in India.

• Journal of The Korean Association For Science Education
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• v.36 no.5
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• pp.801-814
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• 2016

The purpose of this study is to find out whether pre-service biology teachers' biological meanings of competition and adaptation is the same as everyday meanings to understand natural selection and evolution. Fifty three pre-service biology teachers answered written tests and thirteen of them were interviewed. The tests on general meanings on competition and adaptation, tests on biological meanings on competition and adaptation and tests on natural selection were administered. Questions on semi-structured interviews were composed of only biological meanings about competition and adaptation. Analyzing data through four steps, pre-service biological teachers' general meanings on competition and adaptation were compared with the definitions of Korean dictionary and compared with biological definitions. Pre-service teachers' alternative conceptions about biological competition and adaptation were classified and the alternative conceptual types were checked when explaining natural selection and evolution. They realized competition is battle for intention or purpose like everyday meaning of competition. However, they didn't realize adaptation happen in the population level. They thought that adaptation, like in everyday life meaning, is getting suitable to environment for survival on an individual level. By relating adaptation to evolution, they thought that long-lasting adaptation become evolution. This study has significance with respect to suggesting the alternative concepts of competition and adaptation based on effective evolution teaching from constructivism viewpoint and highlighting the importance of the concepts of biological competition and adaptation, which have been concerned rarely for a long time.

• ETRI Journal
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• v.30 no.4
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• pp.587-596
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• 2008

Facility-based competition (FBC) in the telecommunications market is considered to have lower static efficiency in the short term and higher dynamic efficiency in the long term. Under service-based competition (SBC), the entrant can reduce its setup costs by leasing network facilities from the incumbent, which makes the entrant viable, pushes the market price down and promotes static efficiency. This paper attempts to measure static efficiency by comparing the profits of the incumbent and entrant in terms of consumer surplus and social welfare under each competition type by extending the Stackelberg model. The results, assuming a linear demand function and variation in regulatory level, show that FBC results in higher social welfare than SBC on the whole. However, SBC accompanied by strong regulation is also shown to have the potential to be superior over FBC. It is also revealed that FBC exhibits a higher producer surplus (particularly, the incumbent's producer surplus) and is, therefore, more desirable in terms of dynamic efficiency. When the entrant's cost is high in FBC, social welfare is shown to be lowered, implying that cost competitiveness is a necessary condition for social welfare.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.24 no.66
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• pp.37-45
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• 2001

Because the structure of the economy is being changed from product-oriented and company-centered economy to service-oriented and customer-centered economy, and the market competition is varying with the competition of non-price factors, the importance for customer service of logistics system is being increased. Thus, the level of customer service should be represented as an element of the logistics decision and the facility location decision. The level of customer service provided by logistics system has an effect on customers\` purchase decisions, hence on the market demand. That is, the market demand is elastic for customer service as it is influenced by product price. Considering the effect of customer service on demand, this study develops the market area which each facility will serve. That area is circular, and distance norm is considered Euclidean and Rectilinear (or Manhattan) distance norm. The market demand for product at a particular area is affected by the level of customer service that facility provides, and the relationship between the market demand and the level of customer service is represented with a mathematical function.

• Journal of Distribution Science
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• v.17 no.3
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• pp.97-105
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• 2019

Purpose - The purpose of this study is to investigate the effect of the government support project on traditional market and the interaction effect between the government support project and the competition intensity. Therefore, this study focuses on the competition intensity of individual stores in traditional markets, unlike the traditional research flow, which is beyond the competitive structure of traditional markets and large retailers. Research design, data, and methodology - This study is based on the data of 'Statistics of Traditional Market in 2017'. In this study, a multiple regression equation was constructed using the number of government support projects as an independent variable, competition intensity as an interaction, and sales per store, number of customers per store as a dependent variable for analysis. A multiple regression equation was constructed for the main effect analysis. To investigate the effect of the interaction, cohen(1980)'s regression equation and two-way ANOVA were used. Results - First, according to this study, the traditional market participated in the government support project showed that the sales and the number of visitors per store in the traditional market were higher than those in the non-participation market. Second, the impact of government support projects on sales per store(also number of visiting customers per store) can be different depending on the competition intensity. More specifically, if the market is politically supported by a market with a high level of competition, it may be more effective than the market with no support. Conclusions - Based on the results of the study, we suggested academic and practical implications and suggested that competition intensity of stores in the traditional market should be considered in the future. The implications of this study are as follows. First, the effects of the government's traditional market support project were analyzed empirically. Second, this study is different from the previous studies in that it examined the competitive strengths and the effects of individual stores in traditional markets, away from competition between traditional market and large retailers. Third, it provided practical implications for the operation of government support projects.

• Journal of the Korean Applied Science and Technology
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• v.40 no.3
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• pp.476-483
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• 2023

This study aimed to analyze the effects of athletic career and competition participation frequency on exercise commitment of women university taekwondo athletes. Study subjects were 20 women university taekwondo athletes. Athletic career and competition participation frequency was assessed by 4-points scale and the higher points indicate the higher level of each variables. Exercise commitment was assessed by Exercise Commitment Scale. The assessment consists of a total of 8 questions, 4 of which are action immersion and 4 of cognitive immersion, and is evaluated using a 5-point Likert scale. The higher the score, the higher the level of exercise commitment. As the results, positive relationship showed both correlation and casual relationship analysis between competition participation frequency and exercise commitment. Negative casual relationship (-) showed between athletic career and exercise commitment. These results indicated that the increase of competition participation frequency affects the exercise commitment and the longer of athletic career indicates the decrease the level of exercise commitment. Thus, to improve the exercise commitment of women university taekwondo athletes, the competition participation frequency and athletic career should be considered.

• The Korean Journal of Ecology
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• v.8 no.4
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• pp.197-200
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• 1985

The relations of crown width and DBH for Pinus densiflora, Pinus rigida, Pinus koraiensis, and Ginkgo biloba were accomplished to estimate the level of crown competition. Measurements of the relations revealed that crown width and DBH were highly correlated for the same species. Also it seems that these relations are independent of age and site quality. The results of regression analysis were as follow: P. densiflora, Y=0.3477X+0.3828 r=0.95 p. rigida, Y=0.3537X+0.1645 r=0.95 P. koraiensis, Y=0.2895X+0.6310 r=0.92 G. biloba, Y=0.4360X+0.0995 r=0.90 The significant differences between G. biloba and pine species seems due to their structural differences of crown formation according to tree species. As results of computing Maximum Crown Area and Crown Competition Factor as indices of crown competition, they indicated that P. densiflora would grow better under the natural conditions.

• Asia pacific journal of information systems
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• v.15 no.3
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• pp.1-7
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• 2005

This paper examines strategic competition model between offline and online retailers and draws strategic implications. Research on the price competition between conventional offline retailers and online retailers has been done through empirical approaches, however, the results are conflicting. This paper reconciles the existing conflicting empirical findings on price levels between offline and online retailers through theoretical approach. This paper analyzes how the internet market has effect on equilibrium prices of both offline and online retailers and discusses the possible reasons why there exist price differences between offline and online retailers in business to consumer electronic commerce.

• Asia Marketing Journal
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• v.19 no.4
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• pp.37-59
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• 2018

This study investigates the effects of the distribution channel structure on quality decisions under duopoly competition. I considers a set-up in which two retailers compete on product quality and retail price. In the set-up, the integrated retailer has the power to determine the quality of its exclusive product, while the decentralized retailer does not. For the decentralized retailer, the supplier determines product quality. I find that asymmetric pairs of a decentralized channel by one retailer and an integrated channel by the other retailer can be a Nash equilibrium in a simultaneous-channel-choice model. The two retailers select different levels of quality, and this quality competition benefits retailers by softening price competition. In a sequential-channel-choice model, I find that the leader can obtain a first-mover advantage. From the perspective of the supplier, which can decide the distribution channel structure and level of quality, both suppliers choose the decentralized channel in equilibrium.