• Asian Journal of Business Environment
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• v.10 no.1
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• pp.19-28
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• 2020

Purpose: This research aims to investigate the impact of corporate integrity on stock price crash risk. Research design, data, and methodology: Taking 1419 firms listed in Shenzhen Stock Exchange in China as a sample, this paper empirically analyzed the relationship between corporate integrity and stock price crash risk. The main integrity data was hand-collected from Shenzhen Stock Exchange Website. Other financial data was collected from CSMAR Database. Results: Findings show that corporate integrity can significantly decrease stock price crash risk. After changing the selection of samples, model estimation methods and the proxy variable of stock price crash risk, the conclusion is still valid. Further research shows that the relationship between corporate integrity and stock price crash risk is only found in firms with weak internal control and firms in poor legal system areas. Conclusions: Results of the study suggest that corporate integrity has a significant influence on behaviors of managers. Business ethics reduces the likelihood of managers to overstate financial performance and hide bad news, which leads to the low likelihood of future stock price crashes. Meanwhile, corporate integrity can supplement internal control and legal system in decreasing stock price crash risks.

• The Journal of the Korea institute of electronic communication sciences
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• v.8 no.2
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• pp.301-306
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• 2013

The Ratio of APT jeonse to purchase price was still rising. The interaction of APT Purchase and Jeonse price indices by region analysis in order to analyze this phenomenon, and results were summarized as follows. First, because the regional APT purchase and jeonse prices appears the rise and fall differently by region, regional polarization was deepening. Second, the recently real estate market was analyzed the province's booming real estate and the downturn of the metropolitan area. So, the ratio of APT jeonse to purchase price was continued to rise. Finally, the Ratio of APT jeonse to purchase price changing rate is (+) increased if the APT purchase price changing rate is larger then the APT purchase price changing rate and smaller then is (-) decreased.

• Journal of Information Technology Applications and Management
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• v.23 no.4
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• pp.41-53
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• 2016

According to the price-decline effect, the art auction prices are known to decrease with the order of auction sale. Our empirical study investigates the presence for the price-decline effect using the data for Korean antique art hosted by the Seoul Auction in September, 2015. We apply the Hedonic price model to the data and examine the relation between the sale order and auction price. Our empirical evidences show that the well-known price decline effect is not present for the case of Korean antique auction in 2015. We confirm our results by estimating the ordered probit model. From the view of the price-decline effect, our results suggest that the Korean antique auction data exhibits different characteristics from most of the foreign art auction data.

• International Journal of Advanced Culture Technology
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• v.6 no.3
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• pp.151-162
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• 2018

In deriving the economic order quantity (EOQ) formula, it is tacitly assumed that the buyer has to pay product price while receiving the product from the supplier. However, as a marketing policy, some suppliers permit a delay in payments to the buyers to increase demand for the product they made. Credit transactions would have a positive effect on both suppliers and buyers. For a supplier who offers trade credit, it is an effective means of price differentiation to increase the demand for the product. Availability of opportunity to delay the payment in buyer effectively reduces the cost of holding stocks and therefore, the buyer has a lot of price options to choose his sales price for a customer. Since the buyer's order is affected by the customer's demand, the problems of determining the sales price and EOQ are interdependent and must be solved simultaneously. From this perspective, this paper evaluates the problem of determining the optimal sales price and EOQ for the buyer at the same time when the supplier allows a delay in payments for the product whose demand is represented as a function that decreases linearly with the sales price. For the analysis, it is also assumed that inventory is exhausted not only by customer's but also by decay.

• Journal of the Korean Society of Clothing and Textiles
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• v.26 no.11
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• pp.1605-1614
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• 2002

The purpose of this study was to identify the consumers who use the level of price as the indicator of the product quality. In order to implement the purpose of this study, Jeans market had been segmented by the mixture regression model, and price response function was calibrated for each segment. Based on the types of price response function, segments were allocated into one of two groups; the group using the level of price as the quality indicator or the group not using the level of price as that. Then, characteristics of both groups were compared in terms of product attributes and demographic variables. Data were co]looted from the sample of the 23o undergraduate and graduate students in Seoul. For the data analysis, mixture regression model, conjoint analysis, and t-test were used. As a result, jeans market was divided into 5 segments. Segment 1,2,3 were allocated into the group not using the level of price as the quality indicator while segment 4,5 were done into the other group. Significant differences existed between two groups in product attributes, not in demographic variables. Mixture model and conjoint analysis were proved to be an effective set of tools in market segmentation.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.13-22
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• 2020

This research explores the appropriate rubber pricing model and the consistent empirical evidence. This model has been derived from the utility function and firm profit-maximization model of commodity goods. The finding shows that the period t - 1 affects expected commodity price and expected profit of commodity production. In fact, a change in the world price of rubber in the past period led to a change in the expected price of rubber in the short run which influenced the expected rubber profit. As a result, the past-period free on board price has an entirety effect on expected farm price of rubber given an exchange rate. In addition, the rubber pricing model indicates that the profit of local farmer on rubber plant depends solely on the world price of rubber in the short run in case of Thailand. In an empirical study, it was found that a change in the price of ribbed smoke sheet 3 in Singapore Commodity Exchange significantly and positively determined the fluctuation of rubber price at the farm gate in Thailand which was consistent with the behavior of the Thai farmers. Both prices are also cointegrated in the long run. That is, the result states that the VECM is an appropriated pricing model for forecasting the farm price in Thailand.

• Journal of the Korean housing association
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• v.18 no.6
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• pp.35-44
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• 2007

The purpose of this paper is to find out the factors affecting the apartment price given three sets of variables such as characteristics of apartment building, apartment site, and location. Data of 1,579 housing units in 224 apartment complex sites in Ilsan city were selected from the housing information of four public and private housing sources in 2006. The first set of variables for physical features include housing size (pyoung), preferring-floor, building orientation, heating system and structure of entrance. The second set of variables for building were number of housing units, built year and rank of construction company. The third set of variables for location were distance from number of school, the subway station, distance of department store and park. For the analysis, the hedonic price model, which was one of the methods to estimate social convenience, was used along with the SPSS statistical program and regression analysis. The results are as follows, Firstly, in the structural characteristic variables, it was analyzed that all of the variables except facing affected the apartment price. Secondly, In the site characteristic variables, unusually all of the variables were not affected the apartment price in Ilsan city. Finally, the locational characteristic variables number of school, the subway station, distance of department store and park affected the apartment price. In case of Ilsan city, educational facilities was likely to positively contribute to the price of apartment.

• The Journal of Fisheries Business Administration
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• v.46 no.1
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• pp.93-107
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• 2015

This study aims to analyze causalities among Hairtail prices by distribution channel using a vector autoregressive model. This study applies unit-root test for stability of data, uses Granger causality test to know interaction among Hairtail Prices by distribution channel, and employes the vector autoregressive model to estimate statistical impacts among t-2 period variables used in model. Analyzing results of this study are as follows. First, ADF, PP, and KPSS tests show that the change rate of Hairtail price by distribution channel differentiated by logarithm is stable. Second, a Granger causality test presents that the producer price of Hairtail leads the wholesale price and then the wholesale price leads the consumer price. Third, the vector autoregressive model suggests that the change rate of Hairtail producer price of t-2 period variables statistically, significantly impacts change rates of own, wholesale, and consumer prices at current period. Fourth, the impulse response analysis indicates that impulse responses of the structural shocks with a respectively distribution channel of the Hairtail prices are relatively more powerful in own distribution channel than in other distribution channels. Fifth, a forecast error variance decomposition of the Hairtail prices points out that the own price has relatively more powerful influence than other prices.

• The Journal of Fisheries Business Administration
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• v.47 no.1
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• pp.1-20
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• 2016

The purpose of this study is to assess the effects of outlook project for olive flounder, from the view point of price stabilization, market efficiency, and causality of the prices in different distribution channels. Analytical results show that the volatility of producer price of olive flounder has been significantly mitigated after the implementation of the outlook project. The market efficiency is estimated to be improved after implementing the outlook project although there is an inefficiency on price determination process in some producing regions. The causality test on the producer and wholesale price shows that producing stage leads the wholesale stage in forming the prices. It is found that Jeju leads the flounder price on the size of 500g and 2kg, while Wando leads the price of 1kg size. These estimation result as whole indicate that outlook project for olive flounder has accomplished the intended goals.

• Journal of Fashion Business
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• v.16 no.6
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• pp.109-126
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• 2012

The purpose of this study was to examine the effect of price-attitude toward apparel products on shopping values and consumption behavior. The study was carried out in Deagu and Kyungbook area. Applying the convenience sampling, total 326 questionnaire were collected from university students who were randomly selected as participants. This study used frequency, factor analysis, reliability analysis, regression analysis, and t-test for data analysis. The finding are as follows. Price-attitude toward apparel products was categorized into information leading, price dignity, price discount, list price orientation, quality value and using coupons. Shopping tendency factors were found as pursuit of pleasure, pursuit of sociality, and pursuit of economic feasibility. Consumption behavior factors were categorized into impulsive buying, ostentatious consumption, utilization of internet information, possession of material and brand trust. Price-attitude toward apparel products had a significant effect on shopping values and consumption behavior. University students seemed to consider the value of money to be very important as well as economic feasibility. They utilized information from the internet to buy products with good quality and showed high usage level of coupons. And, university students who buy at a least price tried to show dignity with expensive brand products and they consider those brands express self-confidence.