• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.833-843
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• 2021

This research examines the impact of audit quality on the extent to which firm-specific information is integrated with a firm's share price - which is determined inversely using stock price synchronicity. The study sample consists of non-financial companies listed on the Amman Stock Exchange i.e., the Jordanian Stock Market, from 2014-2018. After examining 810 firm-year observations from Jordanian industrial companies listed on the ASE, during the study period, we find that the companies using one of the BIG4 audit firms for auditing have less synchronous and more informative stock prices, suggesting high-quality audit improved governance and reduce information asymmetry between firms' insiders and investors which enhances the capitalization of firm's specific information into the stock price, thus less synchronous and more informative stock return. The findings remain consistent over 2 separate measurements of stock price synchronicity (Market and Industry model and Market Model) and show robustness for fixed effect tests. Our multivariate regression results are also robust after controlling for a number of features at the firm level with potential associations with stock price synchronicity. These include the firm size, leverage, return on assets (ROA), and market to book value (MBV).

• Journal of Technology Innovation
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• v.10 no.2
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• pp.107-129
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• 2002

Expansion and enhancement of information and communication infrastructure can create a market closer to an ideal type for a perfect competition, utilizing a cyber space in the network (with the expanded usage of Internet and e-commerce) and it could be a market of a monopolistic form. The government can take one of the two approaches responding to this monopolization of the digital market. First, the government maintains laissez-faire policy since the monopoly cannot be maintained over a long period of time due to an increasing in the production, decrease in the price, profit resulting from this and rapid technology evolution. Second, the government can actively interrupt the monopolization of the digital market. Monopolization in a digital market can lead to a market failure. Unstable market structure and too much frequent merger and acquisition contribute to making the digital market very dynamic. Information goods exchanged in the digital market have the features of very low marginal cost required to copy the original product whereas its initial fixed cost is very high. This explains why the information products are not priced based on the existing marginal price determination principles and why companies producing them have various product sales strategies (price/product differentiation strategy, and other sales strategies).

• Journal of the Korean Society of Costume
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• v.34
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• pp.37-56
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• 1997

The Korean Apparel industry has played an significant role for the econom-ic development in Korea which is mainaly due to the apparel exports to the world market. However the Koran apparel industry has confronted drastic changes in domestic and also in international market for the last several years. Korean apparel products have lost price competitiveness in international market because domestic labor costs have increased so fast and al-so newcomers such as China or other Asian countries have emerged as compet-itive producers. Furthermore domestic market has been saturated with the Korean apparel manufacturers and also with the foreign retailers. Therefore the Korean apparel industry should establish market-ing strategies in order to regain competitiveness. This study aims to analyze the factors for non-price competitiveness of Korean apparel industry and propose the way to regain competitiveness form the buyers' point of view. The present study utilize the survey data for the internet database which is established by the Cotton Incorporated. The results show that the Korean apparel industry is not competitive in terms of non-price factors such as minimum orders terms of payment preproduction stage use of new technolo-gy and lead times. These factors are not directly related to the price of product which is suggested to the buyers. However these are flexibility factors which play important roles in decision making process of buyers because they can reduce risks in uncertain business environment. Therefore the Korean apparel industry should establish global marketing strate-gies which can enhance non-price competitiveness as well as price competitiveness.

• Journal of the Korean Operations Research and Management Science Society
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• v.29 no.1
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• pp.31-41
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• 2004

This study analyzes the structure of the variations In the domestic bank earnings and examines their dynamic features by estimating the short-run response and the long-run adjustment Process after the changes in financial market variables. A system of the equations for the bank stock price index and KOSPI is formulated to utilize the whole information in the market and simultaneously estimated to identify the relationships between the market variables and the bank earnings. Since the bank stock price is found to be responsive to changes in none of the market variables in the short run, while being relatively responsive to dollar exchange rate and business state, It implies that a good economic conditions and a stable foreign exchange rate should be maintained to Improve the level of the stock price In the long run. In addition, the dynamic structure of the responses of the bank stock price index and KOSPI to the initial changes in the market variable are compared and anlayzed. The response of the bank stock price appears to take much longer in adjusting to the long-run eouilibrium level than that of KOSPI. As a result, the cumulative response of the bank stock price index over time is found much bigger than that of HOSPI.

• Proceedings of the KIEE Conference
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• 2000.07a
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• pp.376-378
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• 2000

The current worldwide electricity market introduced competition, which is breaking up the monopoly structure and also enforcing phased structural reform in South Korea. The change of the electricity charge from cost base to price base due to the introduction of the electricity market competition causes consumer to choose a variety of charge schemes and a portion of loads to be affected by this change. Therefore, in order to find a mathematical model of the sensitively-responding-to-price loads and reflect this to the DSM demand management, the price-sensitive load model is needed. Thus, this paper first proposes the composite price-sensitive load model that is expressed as a function of price, presents the methodology to estimate price-sensitive load model at each bus by bus load compositions.

• Journal of the Korean Society of Clothing and Textiles
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• v.26 no.3_4
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• pp.527-538
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• 2002

Although importance of the price and objective quality relationships, very few studies have investigated the relationship related to apparel products. The purpose of this study were to examine 1990's the relationship between price and objective apparel products quality in the Korea Market and the United States market. Data sources in this study consisted of consumer magazines which were published by nonprofit organizations(1990 ∼1999) : Consumer Times(Korea), and Consumer Reports(U.S.A). The results showed that the correlations between price and objective apparel products quality were very weak positive and highly dependent upon the specific apparel product categories. Therefore, price was not a reliable measure of apparel products quality in the two countries market places. This study will help the consumer understand the relationship between price cues and apparel product objective quality and provide additional information to enhance purchase decision making.

• Communications for Statistical Applications and Methods
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• v.15 no.2
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• pp.173-191
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• 2008

The goal of this paper is analyzing and modeling the trend of apartment market price in Seoul using the dynamic linear model(DLM). We use the market price per pyeong of 30-pyeong-apartment provided by "KB apartment market price database" of Kookmin bank. The data is collected from June $24^{th}$, 2003 to August $28^{th}$, 2006. The inspection of the data reveals that the trend of apartment market price in Seoul can be divided into two groups and we assume that the price is expressed by the common trend of divided groups. We try to estimate the price of apartment by DLM using the Bayesian method.

• Korean Management Science Review
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• v.27 no.3
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• pp.33-41
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• 2010

A lot of researches find negative volatility risk premium in options market. We can make a trading profit by exploiting the negative volatility premium. This study proposes negative volatility risk premium hypotheses in the KOSPI 200 stock price index options market and empirically test the proposed hypotheses with intra-day short straddle strategy. This strategy sells both at-the-money call option and at-the-money put option at market open and exits the position at market close. Using MySQL 5.1, we create our database with 1 minute option price data of the KOSPI 200 index options from 2004 to 2009. Empirical results show that negative volatility risk premium exists in the KOSPI 200 stock price index options market. Furthermore, intra-day short straddle strategy consistently produces annual profits except one year.

• Proceedings of the KIEE Conference
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• 2005.07a
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• pp.819-821
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• 2005

Since the System Marginal Price (SMP) is a vital factor to the market entities who intend to maximize the their profit, the short-term marginal price forecasting should be performed correctly. In a electricity market, the short-term trading between the market entities can be generally affected a short-term market price. Therefore, the exact forecasting of SMP can influence on the profit of market participants. This paper presents a methodology of day-ahead SMP foretasting using Autoregressive Integrated Moving Average (ARIMA). To show the efficiency and effectiveness of the proposed method, the numerical studies have been performed using historical data of SMP in 2004.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2014.11a
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• pp.98-99
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• 2014

Construction equipment cost is critical to estimate the total construction costs, particularly in large and complicated projects. Despite its importance, the construction equipment cost may not reflect the current market value since the equipment database is being updated every 6 years at most. To keep construction equipment cost up to date, it is highly recommended to use the standard market price that is reported each year by the Ministry of Security and Public Administration (MOSPA). However, there is still a gap to adopt the standard market price system for the construction equipment cost computing system. Therefore, this paper suggests an effective way to develop a construction equipment cost estimation system.