• KDI Journal of Economic Policy
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• v.36 no.3
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• pp.25-60
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• 2014

We examine whether the observed negative relations between stock returns and inflation and between housing returns and inflation can be explained by the inflation illusion hypothesis. We identify the mispricing component in asset prices (i.e., stock prices and housing prices) based on present value models, linear and loglinear models, and we then investigate whether inflation can explain the mispricing component using the data from three countries (the U.S., the U.K., and Korea). When we take into account the potential asymmetric effect of positive and negative inflation on the mispricing components in asset prices, which is an important implication of the inflation illusion hypothesis, we find little evidence for the inflation illusion hypothesis in that both positive and negative inflation rates do not have a negative effect on the mispricing components. Instead, we find that behavioral factors such as consumer sentiments contribute to the mispricing of asset prices.

• Journal of Intelligence and Information Systems
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• v.20 no.1
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• pp.67-101
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• 2014

The use of new technology greatly shapes the marketing strategies used by companies to engage their consumers. Among these new technologies, social media is used to reach out to the organization's audience online. One of the most popular social media channels to date is the microblogging platform Twitter. With 500 million tweets sent on average daily, the microblogging platform is definitely a rich source of data for researchers, and a lucrative marketing medium for companies. Nonetheless, one of the challenges for companies in developing an effective Twitter campaign is the limited theoretical and empirical evidence on the proper organizational usage of Twitter despite its potential advantages for a firm's external communications. The current study aims to provide empirical evidence on how firms can utilize Twitter effectively in their marketing communications using the association between brand personality and brand engagement that several branding researchers propose. The study extends Aaker's previous empirical work on brand personality by applying the Brand Personality Scale to explore whether Twitter brand communities convey distinctive brand personalities online and its influence on the communities' level or intensity of consumer engagement and sentiment quality. Moreover, the moderating effect of the product involvement construct in consumer engagement is also measured. By collecting data for a period of eight weeks using the publicly available Twitter application programming interface (API) from 23 accounts of Twitter-verified business-to-consumer (B2C) brands, we analyze the validity of the paper's hypothesis by using computerized content analysis and opinion mining. The study is the first to compare Twitter marketing across organizations using the brand personality concept. It demonstrates a potential basis for Twitter strategies and discusses the benefits of these strategies, thus providing a framework of analysis for Twitter practice and strategic direction for companies developing their use of Twitter to communicate with their followers on this social media platform. This study has four specific research objectives. The first objective is to examine the applicability of brand personality dimensions used in marketing research to online brand communities on Twitter. The second is to establish a connection between the congruence of offline and online brand personalities in building a successful social media brand community. Third, we test the moderating effect of product involvement in the effect of brand personality on brand community engagement. Lastly, we investigate the sentiment quality of consumer messages to the firms that succeed in communicating their brands' personalities on Twitter.

• Knowledge Management Research
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• v.25 no.2
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• pp.115-134
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• 2024

In an age where consumers can easily search and pass on their opinions of products and purchasing decisions through the internet, Electronic-word-of-mouth(Ewom) plays an important role in decision making of other potential customers. In this study, we empirically analyze the impact EWOM on consumer purchase decisions, when contradictory Ewom is presented from varying sources of information, such as experts and general consumers. First, we find that when there is a consensus among different information sources there exists a positive relationship between Ewom sentiment and purchase intent, confirming the results of previous literature. However, when expert opinion and consumer opinion do not match we find that consumer opinion is more impactful on purchasing decisions compared to the expert opinion, regardless of product types. The findings of this study add insight to the current literature by examining the effect of contradictory Ewom on purchase decisions, and also to industry marketers by presenting a more efficient strategy in promoting positive Ewom for different product types.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2011.04a
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• pp.285-289
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• 2011

he purpose of this study is to assess the effects of real estate policy on apartment price index in Seoul. To meet the research goal, this research reviewed real estate policy of the government from January of 1986 to August of 2010, and then it collected monthly apartment price index in 25 local districts of Seoul from January of 2003 to August of 2010. After 25 districts were grouped into 2 areas (14 districts in Gangnam and 11 districts in Gangbuk), the data of two areas were analyzed by using the SAS program, Cluster analysis with Ward method showed 3 clusters on each area, and with 6 clusters in total, the effects of real estate policy in the period were examined by using residual analysis. The analysis indicated two major shocks (one was from May to October of 2003, and the other was from March of 2006 to January of 2007), and the results showed that the intervention of government in the market had the asymmetric effects in bullish and bearish times. It implies that the market volatility is substantially influenced by irrational sentiments. Thus, it's suggested to devise the consumer sentiment index suitable in real estate market.

• Korean Institute of Interior Design Journal
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• v.13 no.2
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• pp.38-45
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• 2004

The co-operated residential form of the apartment has been with us for 30 years. The apartment is becoming the most popular form of residence, although there is still a few aspects of the apartment that need to be Improved. After the institution of the unrestrained house value in 1989 that started in Seoul, the main viewpoint of the suppliers the uniform characteristic idea has been adjusted to the various ideas and the viewpoint of the consumer. This has resulted in the prismatic composition of buildings, more stories, upgrading the quality of the design and a preference for wider space of the residence. In this study: (1) theplane surface of interior space and the design quality of the apartment from tile beginning of the 60s are considered. (2) The attribute of the apartment is grasped through analysis of the current (2002-2003) apartment within the country according to the various areas. The prediction of the future residential environment change is analyzed and as a consequence, the modification of the interior space is forecast and suggests the design trends of the apartment. I hope that this, investigation is helpful as it attempts to produce high quality residential space that reflects the harmony of technological development of the apartment and sentiment and emotion of the human being.

• Korean Institute of Interior Design Journal
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• v.16 no.2 s.61
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• pp.201-208
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• 2007

The $21^{st}$ century is the age of sentiment and image. As industrial development pushes the demands of consumers for various goods, the marketing patterns of these goods have individualized. They are expressions embedded with various meanings. Retail shops, now going beyond the practical purpose of display and sales of goods, enhancing brand images and establishing a consumer-oriented strategy, play a key role in reacting to and creating overall cultural issues. This study will analyze and investigate the Prada retail shop, which has distinguished its brand image and effectively promoted its identity through a sustained management strategy. The Prada retail shop has established an image of a cultural icon through cultural marketing. It suggests individuality and creativity along with diversity It reflects the basic concepts of cultural marketing, freedom of expression combined with information and high technology. The Prada building symbolizes the brand itself. To foster these kinds of retail shops, data and information based on continuous studies must be provided and shared, and also the systematic reinterpretation and the effective presentation of expressive trends in interior design needs to be studied on an ongoing basis.

• Journal of the Korean Society of Costume
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• v.21
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• pp.113-128
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• 1993

The textile designs expressed in contempor-ary fashion are studied in this paper. The dec-orative paintings have been encouraged to be-ing adapted in textile designs for apparel as a motif of the surface design to promote the ar-tistic atmosphere in it. Adopting paintings in textile design through the method of printing is valid to improve the fashion in several reasons as follow : First the printed paintings on the fabrics could be possible to contribute individuality and creativity to the fashion im-proving the quality of textile design and the taste of the consumer as well, Second the limitted types of the clothing construction for preparing the proper space to reveal a paintings is needed on the costume The simple clothing types of loose from the body or fitted to the body are easy to adopt and to recreat the paintings on the apparel. Third the paintings which have been favored in use for the textile design are mostly derived from the abstract arts rather than re-alistic paintings for its decorative traits. Fourth a proposal to adapt the other genre of the art could be encouraged to enrich the field of textile and fashion design. Fifth aquisition of the individuality and the creativity in fashion design to differenciate in international market could be obtained through the adaption of Korean paintings which is ap-preciated with Korean sentiment and mind. This would be one of the essential and advis-able ways for designers to solve the problems which have been consistently pusuing in the area of Korean industrial design to find the Korean design model.

• International Journal of Advanced Culture Technology
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• v.4 no.2
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• pp.7-18
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• 2016

The first D2C-era web-real variety show in Korea was broadcast via tvN of CJ E&M. The web-real variety program 'SinSeoYuGi' accumulated 54 million views, along with 50 million views at the Chinese portal site QQ. This study carries out an analysis using text mining that extracts portal site blogs, twitter page views and associative terms. In addition, this study derives viewers' response by extracting key words with opinion mining techniques that divide positive words, neutral words and negative words through customer sentiment analysis. It is found that the success factors of the web-real variety were reduced in appearance fees and production cost, harmony between actual cast members and scenario characters, mobile TV programing, and pre-roll advertising. It is expected that web-real variety broadcasting will increase in value as web contents in the future, and be established as a new genre with the job of 'technical marketer' growing as well.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.27 no.4
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• pp.52-64
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• 2019

The purpose of this study is to analyze the impact of macroeconomic variables on air passenger demand and provide useful information to airport managers and policymakers. Therefore, using the quarterly macroeconomic indicators from 2002 to 2017, the relationship with air passenger demand was demonstrated by multiple regression analysis. In the previous studies, they used GDP, Korea Treasury Bond, KOSPI index, USD/KRW Exchange Rate, and WTI Crude Oil Price variables. In this study, we used the Coincident Composite Index, Employment Rate, Consumer Sentiment Index, and Private Consumption Rate used as additional variables. It has confirmed that if the consumption of research results expands or the economic environment is right, it will affect the increase in international passengers. In other words, it confirmed that the overall economic situation acts as the main factor determining air passenger demand. It confirmed that the economic environment at the past has a significant impact on air passenger demand.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.39-47
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• 2021

This research aims to confirm if the COVID-19 pandemic has had an impact on existing sectors, and how that affects the Indonesian Stock Exchange (IDX) market returns. The research method used is an event study employing market models in nine sectors of the Exchange with purposive sampling technique, and supported by Ordinary Least Square (OLS) regression. Based on the calculation of abnormal returns in the period of 30 days before up to 30 days after, the financial property, real estate, and construction sector results show a decreased abnormal return value. The infrastructure, utilities, and transportation sectors also show an abnormal return value that tends to be constant, while the abnormal return value increases in other sectors. Judging from the cumulative value of abnormal returns, the most affected sector is financials, followed by the trade, service, and investment sectors. The consumer goods and mining industry sectors are still optimistic, while other sectors show temporary negative sentiment. Overall, the stocks on the Indonesia Stock Exchange (IDX) were affected by the COVID-19 pandemic with a cumulative negative value of the average abnormal return sample. The results using OLS regression also strengthen the relationships between the COVID-19 pandemic, and negative and significant market returns.