• Journal of Distribution Science
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• v.17 no.3
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• pp.85-95
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• 2019

Purpose - The existing marketing studies using Social Network Analysis have assumed that network structure variables are time-invariant. However, a node's network position can fluctuate considerably over time and the node's network structure can be changed dynamically. Hence, if such a dynamic structural network characteristics are not specified for virtual goods purchase model, estimated parameters can be biased. In this paper, by comparing a time-invariant network structure specification model(base model) and time-varying network specification model(proposed model), the authors intend to prove whether the proposed model is superior to the base model. In addition, the authors also intend to investigate whether coefficients of network structure variables are random over time. Research design, data, and methodology - The data of this study are obtained from a Korean social network provider. The authors construct a monthly panel data by calculating the raw data. To fit the panel data, the authors derive random effects panel tobit model and multi-level mixed effects model. Results - First, the proposed model is better than that of the base model in terms of performance. Second, except for constraint, multi-level mixed effects models with random coefficient of every network structure variable(in-degree, out-degree, in-closeness centrality, out-closeness centrality, clustering coefficient) perform better than not random coefficient specification model. Conclusion - The size and importance of virtual goods market has been dramatically increasing. Notwithstanding such a strategic importance of virtual goods, there is little research on social influential factors which impact the intention of virtual good purchase. Even studies which investigated social influence factors have assumed that social network structure variables are time-invariant. However, the authors show that network structure variables are time-variant and coefficients of network structure variables are random over time. Thus, virtual goods purchase model with dynamic network structure variables performs better than that with static network structure model. Hence, if marketing practitioners intend to use social influences to sell virtual goods in social media, they had better consider time-varying social influences of network members. In addition, this study can be also differentiated from other related researches using survey data in that this study deals with actual field data.

• Journal of the Korea Society of Computer and Information
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• v.7 no.2
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• pp.196-204
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• 2002

This paper examines the price discovery role of the KOSPI 200 futures index for its cash index. It was used the intrady data for KOSPI 200 and futures index from July 1998 to June 2001. The existing Preceding study for KOSPI 200 futures index was used the data of early market installation, but this study is distinguished to use a recent data accompanied with the great volume of transaction and various investors. We established three hypothesis to examine whether there is the price discovery role in the KOPSI 200 futures index and the characteristics of that. First, to examine whether the lead-lag relation is induced by the infrequent trading of component stocks, observations are sorted by the size of the trading volume of cash index. In a low trading volume, the long lead time is reported and the short lead time in a high volume. It is explained that the infrequent trading effect have an influence on the price discovery role. Second, to examine whether the lead-lag relation is different under bad news and good news, observations are sorted by the sign and size of cash index returns. In a bad news the long lead time is reported and the short lead time in a good news. This is explained by the restriction of"short selling" of the cash index Third, we compared estimates of the lead and lag relationships on the expiration day with those on days prior to expiration using a minute-to-minute data. The futures-to-spot lead time on the expiration day was at least as long as other days Prior to expiration, suggesting that "expiration day effects" did not demonstrate a temporal character substantially different form earlier days. Thus, while arbitrage activity may be presumed to be the greatest at expiration, such arbitrage transactions were not sufficiently strong or Pervasive to alter the empirical price relationship for the entire day. for the entire day.

• Journal of the Korea Society of Computer and Information
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• v.25 no.5
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• pp.47-56
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• 2020

The stock index is used not only as an economic indicator for a country, but also as an indicator for investment judgment, which is why research into predicting the stock index is ongoing. The task of predicting the stock price index involves technical, basic, and psychological factors, and it is also necessary to consider complex factors for prediction accuracy. Therefore, it is necessary to study the model for predicting the stock price index by selecting and reflecting technical and auxiliary factors that affect the fluctuation of the stock price according to the stock price. Most of the existing studies related to this are forecasting studies that use news information or macroeconomic indicators that create market fluctuations, or reflect only a few combinations of indicators. In this paper, this we propose to present an effective combination of the news information sentiment analysis and various macroeconomic indicators in order to predict the US Dow Jones Index. After Crawling more than 93,000 business news from the New York Times for two years, the sentiment results analyzed using the latest natural language processing techniques BERT and NLTK, along with five macroeconomic indicators, gold prices, oil prices, and five foreign exchange rates affecting the US economy Combination was applied to the prediction algorithm LSTM, which is known to be the most suitable for combining numeric and text information. As a result of experimenting with various combinations, the combination of DJI, NLTK, BERT, OIL, GOLD, and EURUSD in the DJI index prediction yielded the smallest MSE value.

• Journal of Digital Convergence
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• v.10 no.11
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• pp.295-306
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• 2012

This study analyzed empirically difference of purchase intention about price raising of luxury brand according to consumer characteristics such as consumption value, prior knowledge. and perceived risk. Fist, groups according to consumption value showed obvious differences. Group of pursuing uniqueness and ostentation value and group of pursuing quality and pleasure value showed positive purchase intention but group of pursuing social recognition value showed negative purchase intention. Second, groups according to perceived risk. didn't show difference and groups according to prior knowledge showed obvious difference. group of high prior knowledge showed positive purchase intention but group of low prior knowledge showed negative purchase intention. Third, analyzed result about interaction effect of consumer characteristics, Classified group of pursuing uniqueness and ostentation value, expressing high prior knowledge and Classified group of pursuing quality and pleasure value, expressing high perceived risk only showed positive purchase intention, The results of this study present implication to domestic companies aiming luxury brand that performing differently strategy of product and price according to target characteristics is more effective way in differentiating oneself from existing luxury brands and expanding market.

• Informatization Policy
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• v.27 no.1
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• pp.92-114
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• 2020

The purpose of this study is to analyze people's motivations to use the National Petition service of CheongWaDae, the Presidential Office of Korea. The online space has been used as a testbed of deliberative democracy. In fact, a wide variety of public opinions are being formed and gaining sympathy through the E-Petitions and Daum's Agora. In this regard, President Moon's government launched a petition site to gather public opinions. For any petition agreed on by more than 20,000 people within 30 days, the relevant ministry or the President's office must provide answers or feedback. This study wants to figure out how this National Petition is different from previous platforms like Agora or E-Petitions and why it is so well-received by people. This study uses a mix of both qualitative and quantitative methods. First, we conducted a focus group interview to factorize experiences of using the National Petition into measurable constructs. Second, we did a survey o 156 Koreans who had experienced the National Petition. Results show that symbolism, usefulness, gratification, and trust have positive impact on continuous usage intention. This study argues that symbolism, usefulness, gratification, and trust factors should be in place rather than technical aspects in order to increase the actual participation of users on the online platform of deliberative democracy. In addition, this study is meaningful in that it examined how different the CheongWaDae's National Petition is from the existing platforms for collecting public opinions and analyzed factors that encourage continuous use.

• Journal of Distribution Science
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• v.13 no.12
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• pp.41-52
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• 2015

Purpose - Given globalization, the new niche market of medical tourism is likely to experience sustainable growth for various reasons, such as aging populations and a shift in the medical consumerism paradigm toward prevention. Importantly, understanding medical customers' behavior is necessary to benefit from a competitive advantage in this industry. The existing research primarily accessed the key factors of medical quality and costs to explain health customers' behavior but is limited in terms of enabling an understanding of the decision process. This limitation exists because, given the intangibility and greater associated risks in the highly professional industry of international medical tourism, most customers lack the knowledge and experience needed to evaluate the central factors-such as the medical competence of health care countries-before purchases. Therefore, they actively search for useful information through various distributions to reduce uncertainty and to make better choices. Interestingly, most of these information channels are associated with word-of-mouth (WOM). However, no evidence is found in the literature to estimate the effect of WOM in the medical tourism field. Thus, this study focuses on WOM to explore its interaction with key medical characteristic factors and the attractiveness of destinations referred to by sources. This study also affects customers' evaluations and, in turn, influences their intention to seek health care services abroad. Research design, data, and methodology - The literature review addressed an interesting research model for estimating the relations among WOM, medical characteristics, attractiveness, and customers' choice intention regarding international health care. In the key economic regions in China, such as Beijing, Shanghai, Jiangsu, Shandong, and Guangdong, 2,500 survey questionnaires were distributed to potential customers of different ages, education, and income levels. A resulting 1,717 (68.68 percent of the original 2,500) usable surveys were obtained for analysis. Moderated regression analysis was used to determine the effects of WOM in the decision process regarding international health care destinations. Results - The results indicate that WOM is a good moderator of the relationships between the factors evaluated by sources and customers. More importantly, the WOM effects reflect the factors of tie strength, credibility, and vividness. The results also reveal that, given the moderating role of WOM, the intention of potential Chinese customers to seek the referred health care country varies according to the medical characteristics of medical competency and reputation as evaluated by customers. In contrast, the travel attractiveness of the attractions, facilities, accessibility, and social environment are critical determinants of destination choice intention. Conclusions - The moderating role of WOM has been confirmed through the international healthcare destination selection process. Medical tourism managers should user WOM as an effective marketing tool for industry development. Specially, marketers should consider the effects of WOM determinants, such as tie strength, credibility, and vividness, to develop an effective strategy. Furthermore, this study estimates the factors that affect customers' selection of medical tourism destinations. Health care managers or policy makers should consider a broad variety of variables that may attract more Chinese customers to international health care.

• The Journal of Fisheries Business Administration
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• v.35 no.2
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• pp.91-115
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• 2004

The main purpose of this study is to analyze the cooperative squid fisheries problems surrounding the $E128^{\circ}$, established by the 1965 Korea - Japan Fisheries Agreement which banned Korean large trawlers' fishing east to the $E128^{\circ}$ In fact, the moratorium was put on by Japans request. However, such issue did not occur until the filefish stock in the southern Korean sea, which was a major target fish species of the large trawl fisheries, The filefish stock collapsed completely around 1991 and at the same time most of bottom fish stocks in the East China Sea began to show a symptom of over - exploitation. Thus, the off - shore large trawlers learned to have a little opportunity of finding out alternative fish stocks as well as fishing grounds. Fortunately, at that time squid resource stock and consumption were on the increasing trend. The large trawl fisheries were able to economically exploit squid stock east to the $E128^{\circ}$ through cooperative fishing with squid angling light boats in the East and East - South Sea, even though such cooperative fishing activities violate the existing fishery laws apparently. Some important reasons that the large trawlers have continued the cooperative fishing seem to be because (ⅰ) squid resource stock has been on the increasing state over time, (ⅱ) the trawl fisheries have made a significant contribution to meeting domestic and export demands and stabilizing squid prices, and (ⅲ) they have kept domestic squid market from foreign competition. However, the new Korea - Japan fisheries agreement in 1998 provided a momentum of questioning the effectiveness of the $E128^{\circ}$ by the squid - related fisheries other than the squid angling. Serious conflicts between squid - related fisheries began to emerge and to be much intensified. Squid angling industries in the East opposed to large trawlers's efforts to formalize such illegal cooperative squid fishing activities. Their main argument was that such formalizing would definitely make the East coast squid prices lower and in turn their business performance would be worse off. The results of quantitative analysis suggest that the trawlers' massive landing may have a significant influence on lowering the east coast squid prices. Now, an important issue that the squid - related fisheries and the government are facing is to solve such complex squid fishing problems through a multi - participatory negotiation process, including price stabilization, total allowable catch level and its operation schemes, $E128^{\circ}$ rearrangement, and so on.

• Korean journal of communication and information
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• v.47
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• pp.5-22
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• 2009

This study analysed the complicated introduction process of IPTV in Korea, based on the rent seeking theory which is one of an useful economic theory for explaining the dynamic interaction between government and entrepreneurs. Rent seeking theory describes the possibility of lobbying for economic regulations or regulatory capture which refers to collusion between firms and the government agencies assigned to regulate them. The introduction of IPTV(Internet Protocol TV) in Korea was the most controversial policy issue since the beginning of new media business of cable TV in 1995. In addition to the ordinary conflict between the old and new entrepreneurs, IPTV caused the bureaucratic conflicts between the Ministry of Information and Communication and the Korean Broadcasting Commission (Two regulation agencies were merged into KCC(Korean Communications Commission) in 2008). Through the process all related policy players, including the government, pursued their own rent, and it caused vicious circle of continuous rent seeking and mutual distrust among players. Finally, all-directional lobby of pre-IPTV companies brought about the successful entrance to IPTV market and the enactment of IPTV special law which includes deregulation compared to the existing Broadcast Act. Considering the convergence trend of media related laws it means going against the times. Until now, the conflict phenomena occurring in broadcast industry were mostly explained based on the sociological conflict theory. However, the result of this study shows the usefulness and necessity of rent seeking theory because it gives an economic explanation of conflict behavior.

• Journal of the Institute of Electronics Engineers of Korea SC
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• v.49 no.1
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• pp.12-19
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• 2012

Recently, the market of skin-care device has been steadily growing up. In this paper, we tried to develop a personal compound stimulus device more competitive than existing products. As the compound stimulus, biochemical stimulus of herbal extraction fluid, thermal stimulus of plate-shaped carbon fiber heater, and optical stimulus of near infrared LED were selected. By some evaluation tests, the thermal stimulation part and the optical stimulation part were found to be developed properly. Additionally, the efficacy of the mixed stimulus of thermal and optical stimulation was tested in C2C12 mouse myoblast. Through RT-PCR analysis, it was found that, by the developed compound stimulus, the expression of collagen I mRNA and collagen III mRNA increased by 4.9 and 1.3 times respectively.

• Journal of the Korea Convergence Society
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• v.8 no.3
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• pp.245-252
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• 2017

The purpose of this study is to analyze the effects of mergers and acquisitions of domestic IT companies on strategic aspects of internal capacity enhancement. Empirical analysis applied to this study analyzed the business performance in the market through the merger of Daum Communications and Kakao Group. After Daum pursued the merger with Kakao, it showed that the platform business of kakao is expanding to the domain of the existing portal site. The merger was completed, and the total value of the stocks went up to the highest level, but soon its value declined. The merger shows that the growth potential of the enterprise is temporarily declining, which seems to be the internal cost of the merger. Even in the case of profitability, the merger did not show positive results. In the case of stability, the expectation due to the merger was reflected and slightly increased. The following two companies were interested in the kakao when they viewed the merger through a chronological analysis. However, after the merger, the interest of the next kakao was similar. This is seen as a result of the expansion of kakao's diverse platform business rather than the following search sites. From the results of this study, it is suggested that domestic IT companies should approach by analyzing the strategic factors that generate synergy when pursuing M & A to strengthen their resources or capabilities.