• The Journal of Korean Institute of Communications and Information Sciences
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• v.34 no.1B
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• pp.34-46
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• 2009

The remarkable growth of Korean telecommunication market has based on the introduction of competition as well as mobile technology like CDMA. It was well Down that such a conspicuous growth has been towed by mobile service rather than fixed telephone service. In telecommunications service the number of subscribers to mobile was over 40 millions in 2006 and also, while the traffic amount of fixed telephone has been more decreased, that of mobile, which already outnumbers the fixed, has been constantly increased and will be much more in future. It will accelerate the substitution of access and call demand of fixed service by mobile. This change of technology and demand does affect directly the market performance of telecommunications. And regulation has also an effect on market structure, which finally affects on market performance. In this paper we suppose the fixed and mobile telecommunications services are in a same industry. After reviewing the relations among the demand, cost, charge structure and revenue structure in the one fixed and mobile telecommunications market using the framework of an industrial structure analysis, we discuss the current issues of telecommunications regulation and implications for the future regulation.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2759-2769
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• 2018

The behavioral finance view on the existence of asset pricing anomalies is based on two factors: investors' sentiment and limits to arbitrage. This paper tries to examine the effect of investors' sentiment on the stock price in the Korean stock market. In order to measure investors' sentiment, we constructed the sentiment index using principal component of five sentiment variables. By using sentiment index as an additional independent variable to three risk factors, impacts of the sentiment index on individual stocks and 25 portfolios sorted by BM-size are examined. Main results found are as follows: 1) not only all three risk factors show positive impacts on the return of individual stock, but also the sentiment index has a positive impact. SI alone explains 15% of individual return variation. 2) among four independent variables, the most important factor turned out to be the market risk factor and investors' sentiment has better explanatory power on stock price than the size effect. 3) after controlling the market risk factor, the coefficient of the sentiment index for the smallest size and highest book/market value portfolios is significantly positive. 4) all the coefficients of the sentiment index for 25 portfolios sorted by BM-size have significant positive value after controlling size or (and) value.

• Fashion & Textile Research Journal
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• v.15 no.5
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• pp.797-807
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• 2013

This study aims to provide basic information that would be useful to develop more specialized fashion design products for launching Korean Wave fashion, especially in Singapore market where Korean Wave culture has been expanding significantly. To identify recognition level of Korean Wave fashion, customer survey was conducted to females in their late 10s to early 20s. The analysis on the current fashion market also was made, which showed the result that the elegant style was dominant in the local fashion market. According to the customer survey result, K-pop was the most influential on Korean Wave. Amongst the female K-pop stars, 2NE1 was ranked the first who most of those surveyed wanted to copy her fashion style, and the ranking followed by Girl's Generation and BoA. With this result, it would be recommended to reflect K-pop star's style in designing fashion products as design and style turned out to be the most important factors that those surveyed considered upon clothing purchase. However, there should be various promotion activities in order to make Korea fashion brands known to the public because only 24.6% of those surveyed responded that they were aware of Korean fashion brands launched in Singapore market. Nevertheless, as those respondents were willing to buy Korean fashion brand products, there would be plenty of potential to succeed in Singapore market if there would be continuous efforts to raise Korean brand awareness.

• Journal of Global Scholars of Marketing Science
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• v.18 no.1
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• pp.141-156
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• 2008

Market structure analysis is a very useful tool to analyze the competition boundary of the brand or the company. But most of the studies in market structure analysis, the concern lies in nondurable goods such as candies, soft drink and etc. because of the their availability of the data. In the field of durable goods, the limitation of the data availability and the repurchase time period constrain the study. In the analysis of the automobile market, those of views might be more persuasive. The purpose of this study is to analyze the structure of automobile market based on some idea suggested by prior studies. Usually the buyers of the automobile tend to buy upper tier when they buy in the next time. That kind of behavior make it impossible to analyze the structure of automobile market under the level of automobile model. For that reason I tried to analyze the market structure in the brand or company level. In this study, consideration data was used for market structure analysis. The reasons why we used the consideration data are summarized as following. Firstly, as the repurchase time cycle is too long, brand switching data which is used for the market analysis of nondurable good is not avaliable. Secondly, as we mentioned, the buyers of the automobile tend to buy upper tier when they buy in the next time. We used survey data collected in the U.S.A. market in the year of 2005 through questionaire. The sample size was 8,291. The number of brand analyzed in this study was 9 among 37 which was being sold in U.S.A. market. Their market share was around 50%. The brands considered were BMW, Chevrolet, Chrysler, Dodge, Ford, Honda, Mercedes, and Toyota. �� ratio was derived from frequency of the consideration set. Actually the frequency is different from the brand switch concept. In this study to compute the �� ratio, the frequency of the consideration set was used like a frequency of brand switch for convenience. The study can be divided into 2 steps. The first step is to build hypothetical market structures. The second step is to choose the best structure based on the hypothetical market structures, Usually logit analysis is used for the choice best structure. In this study we built 3 hypothetical market structure. They are type-cost, cost-type, and unstructured. We classified the automobile into 5 types, sedan, SUV(Sport Utility Vehicle), Pickup, Mini Van, and Full-size Van. As for purchasing cost, we classified it 2 groups based on the median value. The median value was $28,800. To decide best structure among them, maximum likelihood test was used. Resulting from market structure analysis, we find that the automobile market of USA is hierarchically structured in the form of 'automobile type - purchasing cost'. That is, result showed that automobile buyers considered function or usage first and purchasing cost next. This study has some limitations in the analysis level and variable selection. First, in this study only type of the automobile and purchasing cost were as attributes considered for purchase. Considering other attributes is very needful. Because of the attributes considered, only 3 hypothetical structure could be analyzed. Second, due to the data, brand level analysis was tried. But model level analysis would be better because automobile buyers consider model not brand. To conduct model level study more cases should be obtained. That is for acquiring the better practical meaning, brand level analysis should be conducted when we consider the actual competition which occurred in the real market. Third, the variable selection for building nested logit model was very limited to some avaliable data. In spite of those limitations, the importance of this study lies in the trial of market structure analysis of durable good.

• The Korean Journal of Financial Management
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• v.2 no.1
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• pp.55-75
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• 1986

This article is to analyse the economic efficiency of capital market, which plays a role of resource allocation in terms of financial claims such as stock and bond. It provides various contributions to the welfare theoretical aspects of modern capital market theory. The key feature that distinguishes the theory described here from traditional welfare theory is the presence of uncertainty. Securities has time dimensions and the state and outcome of the future are really uncertain. This problem resulting from this uncertainty can be solved by complete market, but it has a weak power to explain real stock market. Capital Market is faced with the uncertainity because it is a kind of incomplete market. Individuals and firms in capital market made their consumption-investment decision by their own criteria, i. e. the maximization of expected utility form intertemporal consumption and the maximization of the market value of firm. We noted that allocative decisions that had to be made in the economy could be naturally subdivided into two groups. One set of decisions concerned the allocation of first-period resources among consumption $C_i$, investment in risky firms $I_j$, and riskless investment M. The other decisions concern the distribution among individuals of income available in the second period $Y_i(\theta)$. Corresponing to this grouping, the theoretical analysis of efficiency has also been dichotomized. The optimality of the distribution of output in the second period is distributive efficiency" and the optimality of the allocation of first-period resources is 'the efficiency of investment'. We have found in the distributive efficiency that the conditions for attainability is the same as the conditions for market optimality. The necessary and sufficient conditions for attainability or market optimality is that (1) all utility functions are such that -$\frac{{U_i}^'(Y_i)}{{U_i}^"(Y_i)}={\mu}_i+{\lambda}Y_i$-linear risk tolerance function where the coefficients ${\mu}_i$ and $\lambda$ are independent of $Y_i$, and (2) there are homogeneous expectations, i. e. ${\Large f}_i(\theta)={\Large f}(\theta)$ for every i. On the other hand, the efficiency of investment has disagreement about optimal investment level. The investment level for market rule will not generally lead to Pareto-optimal allocation of investment. This suboptimality is caused by (1)the difference of Diamond's decomposable production function and mean-variance valuation model and (2) the selection of exelusive investment or competitive investment. In conclusion, this article has made an analysis of conditions and processes of Pareto-optimal allocation of resources in capital marker and tried to connect with significant issues in modern finance.

• International Journal of Reliability and Applications
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• v.2 no.3
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• pp.161-187
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• 2001

Starting with the meaning of the word quality, diverse concepts connoted by the term are examined. Instead of a bathtub curve, the desirable shape of a failure rate covering the entire life of a good product, which might be called hockey-stick line, is introduced. From the hockey-stick line and the definition of reliability, two measurements are extracted. The terms reliability, failure rate, product life, and durability are explained. From the customer's standpoint, the concept of product quality is classified in five factors, according to related technology: performance, reliability, conformance to specifications, customer perception, and fundamentals advantage. The correlation of the five factors for a first-class product is discussed, Since the market share of a company is determined as the competition result of its product value, defined as product quality and price, the market share increase is derived mathematically from the increment of product value. The market share increase, $\Delta$S, can be calculated from the present market share, S, and the oriented relative value increment of new product, R, to the current product in the same company for the same market target: $\Delta$S : $\Delta$(1-S). R/(1+S.R). Finally, the importance of separating warranty cost from the profit equation for the durables is explained.

• The Journal of Fisheries Business Administration
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• v.40 no.1
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• pp.51-74
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• 2009

The purpose of this study is to ascertain that how the futures market of the Japanese frozen shrimp that is the only fisheries asset all over the world can be efficient. Accordingly, this paper examines efficiency and information flow of the Japanese frozen shrimp market using data from Kansai Commodities Exchange frozen shrimp futures closing prices and spot prices. And then this paper estimates a forward price model using that data. From the model, risk premium is estimated and we could also analyse the future information flow into the futures market which reveals future spot prices. This thesis reached to conclusions as follows: First, the null of zero risk premium is rejected and the value of that is negative. Second, the time pattern of information flow into the futures market is that most of the information on future price arrives within a week and for the last week, most of relevant information is already incorporated. The result of this study contrasts with that of Stockman(1978) about currency futures market of U.S.

• Science of Emotion and Sensibility
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• v.9 no.spc3
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• pp.225-234
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• 2006

Car Navigation market is rapidly emerging in Korea recently. And it adds the multiple functions which are various traffic and travel information, DMB(Digital Multimedia Broadcasting) TV, game, movie and music. It is evolving as a killer application device of Car Infotainment (Information & Entertainment). On the other hand, the technical barrier which is pushing into the market is low and the competition is intense in process of time. In the market situation, the design differentiation is embossed with important element. In this case study, focused on inkel which specialized in Audio/Video launching into the Car Navigation market with the new brand 'WideTouch', we tried to provide successful product design strategy based on proactive research on the market for the design differentiation through the target segmentation of the new generation, middle-aged and a woman consumer.

• Journal of Information Technology Services
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• v.17 no.1
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• pp.33-45
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• 2018

Recently, many South Korean firms have suffered financial losses and damaged corporate images from the data breaches. Accordingly, a firm should manage their IT assets securely through an information security investment. However, the difficulty of measuring the return on an information security investment is one of the critical obstacles for firms in making such investment decisions. There have been a number of studies on the effect of IT investment so far, but there are few researches on information security investment. In this paper, based on a sample of 76 investment announcements of firms whose stocks are publicly traded in the South Korea's stock market between 2001 and 2017, we examines the market reaction to information security investment by using event study methodology. The results of the main effects indicate that self-developed is significantly related to cumulative average abnormal returns (CAARs), while no significant effect was observed for discloser, investment characteristics and firm characteristics. In addition, we find that the market reacts more favorably to the news announced by the subject of investment than the vendor, in case of investments with commercial exploitation. One of main contributions in our study is that it has revealed the factors affecting the market reaction to announcement of information security investment. It is also expected that, in practice, corporate executives will be able to help make an information security investment decision.

• The Journal of Fisheries Business Administration
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• v.38 no.3
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• pp.89-108
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• 2007

The purpose of the study are summarized as follows: First, it has researched the new functions of middleman in Fisheries Port Market. Second, the new functions which middleman have to perform in Fisheries Port Market consist of the origin function, marketing function, logistics function. The origin function consists of the discrimination of fish species and freshness, making the price by auction, financing, etc. Marketing function consists of various species assortment from not only fisheries port market but also non fisheries port market as frozen and import fish markets, finding the new selling markets as not broker but wholesaler, making the price and margin non through the action, processing, etc. Logistics function consist of fish stock, delivery Third, it has recognized the upcoming important problems by building up the new functions as middleman in Fisheries port Market. This study has used a questionnaire to verify 3 hypotheses. Research model, factor analysis, regression analysis. The result of this study are summarized as follows: The origin function influences positively on the effectiveness of middleman's performance in Fisheries port Market. Marketing function influences positively on the effectiveness of middleman's performance. However, logistics function did not directly influences on the effectiveness of middleman's performance.