• Korea Journal of Hospital Management
• /
• v.8 no.1
• /
• pp.1-23
• /
• 2003

General drug prices involve three stages: shipment stage, wholesaler stage and retail stage. Policies on drug price differ from country to country. Shipment stage prices are tightly regulated in countries like France and Netherlands. They are free in only a minority of advanced countries, even if these include some major players such as the US, Germany and, in a very limited sense, Japan. The situation in the UK is very complex with a semi-free system, where drug companies are free to set their own prices but cannot exceed a predetermined profit ceiling. Mark-up at both wholesaler and retail stages is formally admitted in most countries observed. Apart from the general drug prices, reimbursement price of insured drugs has been major policy concerns. Most countries reviewed in this study has exerted some control over reimbursement prices, but differ both in the way how and in the extent to which prices are admitted or fixed. Price fixing has been used in France and Japan. Some countries have transformed their system over time, particularly to move to reference pricing in the last decade. This mechanism has empowered the customer, and improved price competition on the market. Referring to the drug price policies in the advanced countries, this study makes some suggestions for the redirection of Korean price policy for reimbursement drug in health insurance as follows: to match appropriate policy tools to each policy goal; to maximize market mechanism through effective reimbursement price fixing which admits mark-ups in wholesaler and retail prices; to introduce reference pricing system in order to redirect patient's demand with a financial incentive to choose the best-priced drugs and to save the finance of health insurance; and to strengthen surveillance and monitoring mechanism in the drug market.

• Journal of the Economic Geographical Society of Korea
• /
• v.16 no.2
• /
• pp.275-292
• /
• 2013

This paper aims at analyzing the use REITs for improving housing welfare, especially focusing on affordable housing. To do this, firstly, current state and main problems of domestic housing welfare are analyzed, secondly, housing welfare system involving capital market and case study of affordable housing REITs in United State are examined. and thirdly, utilization schemes of REITs for improving affordable housing are analyzed. In the process of executing housing welfare, various systemic bases for attracting capital market are constructed. Under these systemic basis, affordable housing REITs such as Community Development Trust are operated. This scheme also can be applied in Korea. In the context, the structures of using management on commition REITs and the structure of using real estate fund are proposed.

• The Journal of the Korea Contents Association
• /
• v.14 no.10
• /
• pp.685-696
• /
• 2014

Recently many companies build interfirms cooperation based on their trust. These typology of partnerships play important roles for good results especially for joint product development. Therefore the purpose of this article is to investigate the role of interfirms communication in B2B market. We also investigate interfirms communication affecting the result of new product performance through two relationship factors(trust, conflict) in B2B market. Data were gathered from respondents who work in industrial buying center. Major findings of this study are summarized as follows: First, communication has positive effects on trust but negative effects on conflict. Second, trust is shown to have positive effects on cooperation and new product performance. However, conflict is shown to have negative effects on cooperation and new product performance. As a result, interfirms communication derives new product performance. In conclusion, this study means that we tried to investigate the human relationship in B2B market.

• Journal of the Korean Regional Science Association
• /
• v.34 no.1
• /
• pp.3-17
• /
• 2018

This paper empirically investigates time-varying regression parameter of hedonic price model for Seoul office rental market in distinct periods of a market cycle. Office rental index is constructed and the index indicates that the global financial crisis differentiates the analysis period into decline stage and recovery stage. Pre-crisis period is classified into decline stage and post-crisis is classified into recovery stage. Structural break-point test suggests structural change of hedonic model of rent determinants occurred in 2008. Evidence indicates that individual regression parameters of hedonic price model for decline stage are significantly different from those for recovery stage. Changes in the regression parameters of land price, distance to metro, building size, building age, and conversion rate are consistent. In recovery stage, the effect of locational advantage on office rent decreases whereas the effect of building characteristics on the rent increases.

• Journal of Navigation and Port Research
• /
• v.41 no.4
• /
• pp.181-188
• /
• 2017

In the existing ship sales market, prices determined based on the prices of similar ship types that recently traded. ince the 2008 financial crisis, ship prices have fluctuated, and ship price criteria have become ever more necessary to the imminent value of the ship. Therefore, this research used the hedonic price model to estimate imminent values of ships. In this study, the influence on ship prices was analyzed by the value of each characteristic and an estimated functional formula was. Out of the four models suggested by the hedonic price model, an optimal model was selected with variance inflation factors and a stepwise selection. For this, the influence of determinants of ship prices was analyzed based on actually traded ships and characteristic data. The selected model s the Log-Line model; as a result of regression analysis, eight variables, including DWT, Age, Market Value, Short-Term Charter, Long-Term Charter, Enbloc, Special Survey Due and Builder were to affect the ship price model. This model is expected to be useful for objective and balanced ship price evaluation.

• Journal of The Korean Digital Architecture Interior Association
• /
• v.8 no.1
• /
• pp.15-21
• /
• 2008

The district unit planning (DUP) in Korea is a planning instrument. One of the key methods is the incentive system focused on the mitigation of the financial charge of business proprietors with use of various planning deregulation. Here in this paper, it is examined whether the incentive system is indiscriminately applied not only in the metropolitan cities but also in the rural cities. The analysis is carried out with six indicators in relation to the effect on the incentive system on the market of Apartment Housing Development. The indicators are a. the building-to-land ratio(BLR), b. the floor area ratio(FAR) c. the publicly assessed value of land(PAVL), d. the sale price of land(SPL), e. the sale/lease price of apartment house(SLPH) and f. the ratio of housing subscription(RHS). The final result is that the incentive system has different effects between metropolitan cities and rural cities. One of reasons lies on the too high FAR in rural cities to be given basically. Another reason lies on the difference between the cost for purchasing public installation and the profit of the sale & lease price of apartment house. In rural cities their difference becomes much narrow. Finally, the low ratio of housing subscription(RHS) in rural cities makes the effect of the incentive system nearby meaningless.

• The Journal of Korean Institute of Communications and Information Sciences
• /
• v.36 no.6B
• /
• pp.650-662
• /
• 2011

The competition among companies in converged market of broadcasting and telecommunications has become severe. Companies in this market have vertically integrated critical resources by acquiring or strategically allying with relevant companies. However, the expansion of business territory accompanies financial, organizational, and technological risks. As such, it is important to identify critical success factors that highly affect the company's competency. This study is aimed at delivering strategic implications for firms playing in the converged market of broadcasting and telecommunications by drawing the priorities of competitive resources to acquire. To do this, we selected four teen specific core resources on CPNT (content- platform - network - terminal) value chain. Then, we conducted an Analytic Hierarchical Process (AHP) using data from experts in this industry. As a result, the priority for acquisition of competitive resources is presented as follows: broadcasting programs, implementation of TV application store, multi-platform, investment on wireless network, and diffusion of mobile devices. In addition, the result shows that the platform-centric vertical integration is the most promising strategy for competition.

• Review of Culture and Economy
• /
• v.19 no.2
• /
• pp.147-170
• /
• 2016

This study has identified the current status and challenges to development of Korean Ethnic Media Companies in North America, China, and Australia New Zealand and aimed to understand implication of cultural policy. It examines the media circumstances, business resources of Korean Ethnic Media Companies(KEMC), and Korean ethnic broadcasting aid project which is operated for 10 years, and interviewed nine CEOs' of KEMC. According to the analysis, KEMCs in North America are in the market which is fully exposed to competition. China's KEMCs are the "limitedly localized market" which is supported by the government's regulatory for minority media. Australia & New Zealande's KEMCs are the market which potential growth is expected. North American KEMCs are needed to upgrade the business structure and organizational resources for content differentiation. China's KEMCs have to diversify financial resources and to consolidate content power. and Australia & New Zealande's KEMCs need support & cooperatation from home country for ensuring high-quality content.

• Journal of Korea Port Economic Association
• /
• v.32 no.3
• /
• pp.47-66
• /
• 2016

Once it has been built, a container terminal is impossible to move to another location. It is hard to rectify wrong decisions in a container terminal. This highlights the importance of decision making for a container terminal. The port management about a container terminal has developed from a cargo interface location between sea and land transport, to the standardization of information and procedures due to globalization among global shipping and terminal operators. This research focuses on the current states of market and management for global container terminal operators by investigating up-to-date data for them. The current market states for global container terminal operators are analyzed by using by Herfindahl-Hirschman Index. The analyses of current management states for global container terminal operators are divided into profitability analysis, activity analysis, and bankruptcy risk analysis. Finally, global container terminal operators are clustered into three groups by the current management states.

• The Journal of Industrial Distribution & Business
• /
• v.12 no.3
• /
• pp.43-49
• /
• 2021

Purpose: This study attempted to examine the risk of stock price plunge according to the firm's management strategy. Prospector firms value innovation and have high uncertainties due to rapid growth. There is a possibility of lowering the quality of financial reporting in order to meet market expectations while withstanding the uncertainty of the results. In addition, managers of prospector firms enter into compensation contracts based on stock prices, thus creating an incentive to withhold negative information disclosure to the market. Prospector firms' information opacity and delays in disclosure of negative information are likely to cause a sharp decline in share prices in the future. Research design, data and methodology: This study performed logistic analysis of KOSPI listed firms from 2014 to 2017. The independent variable is the strategic index, and is calculated by considering the six characteristics (R&D investment, efficiency, growth potential, marketing, organizational stability, capital intensity) of the firm. The higher the total score, the more it is a firm that takes a prospector strategy, and the lower the total score, the more it is a firm that pursues a defender strategy. In the case of the dependent variable, a value of 1 was assigned when there was a week that experienced a sharp decline in stock prices, and 0 when it was not. Results: It was found that the more firms adopting the prospector strategy, the higher the risk of a sharp decline in the stock price. This is interpreted as the reason that firms pursuing a prospector strategy do not disclose negative information by being conscious of market investors while carrying out venture projects. In other words, compensation contracts based on uncertainty in the outcome of prospector firms and stock prices increase the opacity of information and are likely to cause a sharp decline in share prices. Conclusions: This study's analysis of the impact of management strategy on the stock price plunge suggests that investors need to consider the strategy that firms take in allocating resources. Firms need to be cautious in examining the impact of a particular strategy on the capital markets and implementing that strategy.