• 아태비즈니스연구
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• 제13권2호
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• pp.39-50
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• 2022

Purpose - The purpose of this study is to examine how Korea's macroeconomic factors, such as GDP, CPI, Export, Import, Unemployment rate and USD/KRW exchange rate, are affected by the oil price shocks. Design/methodology/approach - This study used monthly and quarterly time-series data of each variable for the period 1983 to 2022, consisting of two sub-periods, to employ Granger causality test and GARCH method in order to identify the role of the oil price movement in macroeconomic factors in Korea. Findings - Korea's currency rate to the US dollar is negatively correlated with the price change of crude oil while the GDP change is positively correlated with the price change of crude oil with strong relationship between Export and Import in particular. The exchange rate and GDP growth are believed to be not correlated with the oil price change for the pre-GFC period. According to the Granger causality test, the price change in crude oil has a causal impact on CPI, Export and Import while other factors are relatively slightly affected. Transmission effect from the oil price to Export is found and there also exists volatility spillover from oil price to economic variables under examination. Comparing two sub-periods, CPI and Export volatility responds negatively to shocks in the oil price for the pre-GFC period while volatility of CPI and Unemployment reacts positively to the oil price shocks for the post-GFC period. Research implications or Originality - The findings of this study could be helpful for both domestic and international investors to build their portfolio for the risk management since rising WTI price can be interpreted as a result of global economic growth and ensuing increase in the worldwide demand of the crude oil. Consequently, the national output is expected to increase and the currency is also expected to be strong in the long run.

• 대한전기학회논문지:전력기술부문A
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• 제53권9호
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• pp.507-512
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• 2004

HTS (High Temperature Superconducting) Transformer has the several useful characteristics in the viewpoints of technical and economical. Especially, an HTS transformer replaces the copper wire coils in a conventional transformer with lower loss HTS wire. In addition, inexpensive, environmentally benign liquid nitrogen replaces the conventional oil as the electrical insulation (dielectric) and provides the necessary cooling for the HTS transformer Therefore, the Life-cycle cost of an HTS transformer is much more attractive than conventional because it is more energy efficient, lighter in weight, smaller in size, and environmentally compliant. HTS transformer can be the best way to replace with conventional transformer in the future. In these days, companies world-wide have conducted researches on HTS transformer. A development project for a 154kV HTS transformer is proceeding at a research center and university in Korea. In this paper, we investigate the expected price of HTS transformer to have a merit in viewpoint of economic aspect. First, life-cycle cost of conventional transformer is calculated and based on this, the expected price of HTS transformer is evaluated. which HTS transformer is competitive against conventional transformer.

• Journal of Information Technology Applications and Management
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• 제19권4호
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• pp.61-74
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• 2012

This studies aims to examine the factors that affect continuous usage reliability of social commerce users that has been really active recently based on using EDT (Expectation Disconfirmation Theory) and extended ECM (Expected confirmation Model). With a statistical analysis, this paper suggests a conceptual model, based on the empirical evidence from this study. The result reveal that perceived usage easiness has a positive effect on meeting the expected confirmation and satisfaction. As perceived quality, social influence and price appeared to reflect a positive effect on fulfilling expected confirmation. This implies that users consider perceived usage easiness, perceived quality, social influence and price important in using social commerce persistently and that as their expected confirmation fulfillment and satisfaction increase that leads to further rise in their future intended continuous usage.

• 한국수정란이식학회지
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• 제31권3호
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• pp.267-272
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• 2016

Wholesale beef price is the critical factor for determining Korean native cattle, Hanwoo, farm's income in short-term. Wholesale beef price has seasonality due to high demand in Korean traditional holidays such as Korean thanksgiving day and lunar new year's day. Therefore, it is important to make reproduction and marketing plans for Korean Hanwoo farmers, in order to increase their farm income. However, there is no study available on changes in the expected farm income depending on reproduction and marketing schedules. This study analyzed the expected farm income per head depending on the monthly-based marketing schedules. The analysis was conducted based on the seasonality of wholesale beef price, reproduction efficiency, operating costs, relationship between carcass grade and slaughter age. The result shows that slaughter Hanwoo at the age of 29 months-old in August and January generating the highest expected farm income per head.

• 수산경영론집
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• 제27권1호
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• pp.67-90
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• 1996

As an important factor of capitalism economics, price of commodities represents a certain country's economic index. For having correct price policy, there should be an appropriate mechanism to make and use systematic statistical data on price. Price statistics are made by indexes and price indexes are categorized into producer price index(PPI) and consumer price index(CPI). The Bank of Korea is publishing producer price index every year, but the producer price index contains some problems. These include as follows : (a) the impractical selection of fisheries products sample (b) uncorrect measure of aquatic products weights (c) investigating sample places. This study try to substitute producer price index of aquatic products and change construction of fisheries producer price index with experimental research on representative fisheries, weight of each fisheries, and suitability of investigating sample places. It is possible to improve practical fisheries producer price index with the results of this research. The findings are as follow. (a) It will be helpful for the government to make the fisheries price policy. (b) It can be used to understand trends of accurate price and price increase of aquatic products, and it's possible to compare with it other industrial indexes including the mining, agricultural, and manufacturing industry and understand relative price movement. (c) When free sales systems of fisheries products as expected, it will be helpful to analyze price movement of producing fisheries cooperatives, producing fisheries market and consuming fisheries market, analysis of market, and formation and consideration of budget. (d) It can be an important index to determine labor wage.

• 한국경영과학회지
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• 제11권2호
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• pp.27-36
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• 1986

This paper deals with four types of multiple unit simultaneous auctions such as the discriminating. uniform-price, lowest accepted-price, and progressive auctions. These auctions have been studied by Vickrey, Ortega-Reichert, Herris and Raviv and so forth. In this paper, their studies are extended to the case with a reserve price and an entry fee, and then the equilibrium bidding strategy are presented. Further, those are analyzed with respect to the change of a reserve price, an entry fee, and the number of bidders and objects.

• Management Science and Financial Engineering
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• 제18권2호
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• pp.1-4
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• 2012

We study optimal trading strategy of a market maker with stock inventory. Following Avellaneda and Stoikov (2008), we assume the stock price follows a normal distribution. However, we take a constant expected rate of the stock return and assume that the stock volatility is an inverse function of the stock price level. We show that the optimal bid-ask spread of the market maker is wider for a higher expected rate of stock returns.

• 자원ㆍ환경경제연구
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• 제31권2호
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• pp.261-290
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• 2022

국내 배출권 시장에서는 시장안정화 조치 발동에도 불구하고 배출권 가격의 불확실성 문제가 지속적으로 대두되고 있다. 그리고 2021년 10월 정부가 발표한 2030 감축목표 상향안을 고려해볼 때 배출권 가격의 불확실성 완화를 위한 실질적인 대안 마련의 필요성이 높아지고 있다. 본 연구는 배출권 시장의 가격 불확실성 완화 수단인 가격상하한제가 배출량과 감축비용에 미치는 정량적인 영향을 살펴본다. 분석을 위한 주요 시나리오는 탄소세, 배출권거래제, 가격상하한제하 배출권거래제 3가지로 구분되며, 배출량 불확실성을 반영하기 위해 몬테카를로 시뮬레이션을 기반으로 비교 분석하였다. 연구 결과는 다음과 같다: 1) 상하한제 도입 시에는 다른 시나리오 대비 현저히 낮은 감축비용으로 배출목표를 달성할 수 있다. 상향된 감축목표에서는 0.1%의 초과배출이 발생할 수 있으나 상하한 간격이 넓은 경우 안정적인 목표달성이 가능하다. 2) 이월을 제한할수록 감축비용은 상승한다. 이는 이월 제한 정책이 기간 간 효율성을 저해하여 비용효과적인 감축을 어렵게 만들기 때문이다. 3) 상하한제하에서 정부의 배출권 순구매량이 발생해도 순수입은 양이 될 수 있다. 정부는 배출권을 상한가에서 판매하고 하한가에서 구매하기 때문이다.

• 한국의류학회지
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• 제22권3호
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• pp.417-427
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• 1998

Price, one of the marketing 4p's, is a key decision variable affecting market share and the profitability of individual products. For consumers, since price is almost always known to and can be compared, it is one of the most important criteria when they make a purchase decision making. With the consumers' increasing consciousness for price due to economic recession, and the saturation of domestic apparel market, it is expected that the effect of price on consumers' decision making would be greater than ever. This study, the first in two part series, focuses on testing the validity of dimensions of clothing price using Lichtenstein et. at. (1993)'s suggestion. In addition, the effect of demographic variables on the perception of each price dimension was investigated. The subjects were 264 college students living in Seoul, Korea. The data were collected by self -administered questionnaires and analyzed by t-test, ANOVA, regression analysis and Lisrel confirmatory factor analysis. The result supported Lichtenstein et. al. (1993)'s suggestion. That is, consumers' perception of clothing price is not mini-dimensional, but has six dimensions: sale proneness, price mavenism, value consciousness, price consciousness, price -quality schema and prestige sensitivity. Demographic variables partially effect on the consumers' perception of each clothing price dimension. The level of monthly pocket money, however, has influence on all price dimensions. Based on these results, marketing implications for apparel manufacturers were suggested.

• 유통과학연구
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• 제13권4호
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• pp.55-64
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• 2015

Purpose - Multi-dimensional prices comprise multiple components such as monthly payments and a number of payments rather than a single lump-sum amount. According to previous studies, an increase in the number of price dimensions leads to a massive amount of cognitive stress resulting in incorrect calculation, and deterioration in the consistency of the price judgment. However, an increase only in the level of complexity of calculating multi-dimensional prices does not always result in a corresponding decrease in the accuracy of price evaluation. Since diverse variables could affect consumers' purchase-decision-making process, the results of price evaluation would be different. In this study, an empirical analysis was performed to determine how the accuracy of price evaluation varies depending on the extent of the complexity of price dimensions using product involvement and brand preference as moderating variables. Research design, data, and methodology - A survey was conducted on 260 students, and 252 effective responses were used for analysis. The data was analyzed using t-test, one-way ANOVA, and two-way ANOVA. In this study, six hypotheses were developed to examine the effect of product involvement and brand preference on consumers' evaluation effort of multi-dimensional prices. Results - As the number of price dimensions increased, accuracy of price evaluation appeared to be low in high involvement, as expected. However, it showed no differences in price evaluation effort when the level of complexity of calculating multi-dimensional prices is low. When a small number of price dimensions are presented in both cases of high and low involvement, accuracy of price evaluation is much higher in a weak brand preference. On the contrary, a strong brand preference enhances an accuracy of price evaluation only in case of low involvement when the number of price dimensions is increased. An interaction effect of product involvement and brand preference on consumers' evaluation of multi-dimensional prices did not exist irrespective of the level of complexity of calculating prices being high or low. Conclusions - When the number of price dimensions is small, consumers' effort for price evaluation shows almost no difference without the moderating effect of involvement, and a weak brand preference leads to a higher accuracy of price evaluation in an effort to make the best selection. No interaction effect of product involvement and brand preference was found except for a main effect of brand preference. When a price is composed of multiple dimensions rendering it more difficult to calculate the final price, the effort for price evaluation was expected to decrease only slightly in case of combination of high involvement and strong brand preference. This is because people have a higher purchase intentions and trust for that particular brand. However, the accuracy of price evaluation was much lower in cases of high involvement, and there was no interaction effect between product involvement and brand preference except for a main effect of involvement and brand preference, respectively.