• Title/Summary/Keyword: Market Turbulence

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The Effects of Environmental Adaptation Patterns in the Railway Public Enterprises on Marketing Capabilities and Organizational Performance: Focused on the Market Orientation of Korail and Subway Firms (철도공기업의 환경적응패턴이 마케팅역량과 조직성과에 미치는 영향: 코레일과 지하철 조직의 시장지향성을 중심으로)

  • Shin, Tack-Hyun;Kim, Sung-Ho
    • Journal of the Korean Society for Railway
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    • v.15 no.1
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    • pp.71-79
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    • 2012
  • The main purpose of this study is to depict the causal relationship among Market Orientation(MO), Marketing Capabilities(MC), and Organizational Performance(OP) with the moderating effect of Environmental Turbulence(ET), especially comparatively highlighting the differences between Korail and Subway firms. Findings show that there partly existed significant interactions effects between ET and MO in case of subway firms, whereas Korail did not reveal any significant results. When considering the strong relationship between MO and MC shown in the subway firms' case, it can be inferred that subway firms continuously have attempted to adapt to the external environment facing them more flexibly and actively over their counterpart, by which the degree of their MC became positively enhanced over Korail. These results give us some implication that MO should be internalized and also MC should get a higher consideration than ever throughout the railway public enterprises in order to strengthen their performance.

A Structural Model of Intra-Organizational Diffusion of Information Technology: Firm′s Database System Adoption

  • Hyun, Jung-Suk
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.22 no.53
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    • pp.55-67
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    • 1999
  • The objectives of the study are to build a structural model of intra-organizational diffusion of information technology and to test this model. Data were collected from senior managers of the purchasing department through questionnaires and statistically analyzed using the structural equation modeling. The questionnaires were concerning firm's database system adoption. Key findings of the study are as follows. First, buying center dynamics (i.e., buying center decision centrality, participation in buying center, and top-management support) are substantially related to the intra-organizational diffusion. Second, environmental characteristics (i.e., market turbulence, technological turbulence, and competitive intensity) indirectly affect on intra-organizational diffusion via buying center dynamics.

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Quantitative Analysis of Quadrupole Noise Sources upon Quick Opening The Throttle (쓰로틀밸브 급개방시 기류소음의 4극음원에 대한 정량적 해석)

  • Kim Jaeheon;Cheong Cheolung;Kim SungTae;Lee Soogab
    • Proceedings of the Acoustical Society of Korea Conference
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    • spring
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    • pp.469-474
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    • 2002
  • In recent years, modularization of engine parts has increased the application of plastic products in air intake systems. Plastic intake manifolds provide many advantages including reduced weight, contracted cost, and lower intake air temperatures. These manifolds, however, have some weakness when compared with customary aluminium intake manifolds, in that they have low sound transmission loss because of their lower material density. This low transmission loss of plastic intake manifolds causes several problems related to flow noise, especially when the throttle is opened quickly. The physical processes, responsible for this flow noise, include turbulent fluid motion and relative motion of the throttle to the airflow. The former is generated by high-speed airflow in the splits between the throttle valve and the inner-surface of the throttle body and surge-tank, which can be categorized into the quadrupole source. The latter induces the unsteady force on the flow, which can be classified into the dipole source. In this paper, the mechanism of noise generation from the turbulence is only investigated as a preliminary study. Stochastic noise source synthesis method is adopted for the analysis of turbulence-induced, i.e. quadrupole noise by throttle at quick opening state. The method consists of three procedures. The first step corresponds to the preliminary time-averaged Navier-Stokes computation with a $k-\varepsilon$ turbulence model providing mean flow field characteristics. The second step is the synthesis of time-dependent turbulent velocity field associated with quadrupole noise sources. The final step is devoted to the determination of acoustic source terms associated with turbulent velocity. For the first step, we used market available analysis tools such as STAR-CD, the trade names of fluid analysis tools available on the market. The steady state flows at three open angle of throttle valve, i.e. 20, 35 and 60 degree, are numerically analyzed. Then, time-dependent turbulent velocity fields are produced by using the stochastic model and the flow analysis results. Using this turbulent velocity field, the turbulence-originated noise sources, i.e. the self-noise and shear-noise sources are synthesized. Based on these numerical results, it is found that the origin of the turbulent flow and noise might be attributed to the process of formulation and the interaction of two vortex lines formed in the downstream of the throttle valve. These vortex lines are produced by the non-uniform splits between the throttle valve and inner cylinder surface. Based on the analysis, we present the low-noise design of the inner geometry of throttle body.

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The Concept of Human Resource Management in Logistics Processes

  • Shtuler, Iryna;Zabarna, Eleonora;Kyrlyk, Nataliya;Kostovyat, Hanna
    • International Journal of Computer Science & Network Security
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    • v.21 no.12
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    • pp.110-116
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    • 2021
  • The article focuses on the need to deepen the issue of human resource management in logistics processes. It is noted that changes in market conditions and turbulence in the institutional environment require managers to form a highly effective human resources policy capable to ensure the innovative development of the enterprise. Functional strategies for human resource management in logistical processes are proposed, namely: adaptive, innovative, selective and exclusive. Innovative technologies that should be used in the adaptive human resources policy process are identified.

A Study on Export Financing Policy for Korean SMEs - Focusing on Korea EXIM'S Bank -

  • Bae, Sang Mok;Park, Se Hun
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.60
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    • pp.177-194
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    • 2013
  • According to the 2013 statistics, the small/medium-sized enterprises (SMEs) accounted for 99.9% of the Korean economy with 87.8% of employment. This simple figures also indicate SMEs export extension is a key task for the national economy stimulation and job creation. The SMEs export plunge has been affected by the European financial turbulence, US financial instability, developing countries like China entering foreign markets, a weak yen, etc. EXIM Bank, in this context, will need to take a more proactive attitude to provide trade finance by, for example, reviewing the business feasibility for SMEs with a lower credit rank or investigating importers' credit status, etc. Moreover EXIM Bank provides factoring service mostly to large companies and should lower its threshold for service provision to SMEs. Finally EXIM Bank should play more than a primary forfeiting market entity. It also needs to facilitate the secondary forfeiting market.

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The Suitability of European Designed Wind Turbines for the East Asian Market

  • Brown, G.R.D.;Barthelmie, R.J.;Kim, Hyun-Goo
    • Journal of Environmental Science International
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    • v.18 no.8
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    • pp.825-831
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    • 2009
  • A first step review is completed on the suitability of European designed wind turbines in an East Asia climate. Six parameters are chosen for detailed analysis of proper meteorological measures from flat, hilly, forested, coastal and offshore sites in West Europe and East Asia: mean wind speed, 10 minute mean wind speed distribution, turbulence intensity, wind shear, 3 second extreme wind speed and 10 minute direction change. All six parameters are assessed with a view for contrast with the wind turbine design standard IEC61400. The diurnal and seasonal variation, average and extreme values of each parameter are calculated where appropriate. Industry standard software and analysis techniques have been employed to assess the applicability of existing wind turbine design standards and design guidelines for the East Asian market.

Hedging Transaction in the Stock Index Futures (주가지수선물의 헤징거래)

  • 윤석곤
    • Journal of the Korea Society of Computer and Information
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    • v.3 no.4
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    • pp.139-144
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    • 1998
  • Introduced into korea to diversify risk coming from the fluctuation of stock price with opening of the domestic capital market to foreigners, Suppress the turbulence of the dentistic securities market caused by the short term funds from foreign countries and vitalize investment in stock, the hedging transaction of stock index futures will promote the introduction of financial futures and commodity futures transaction. and it will contribute to enhancing the introduction all over the country and accelerating the advancement of the korea banking market. In addition, it is expected to make a great contribution to economic stability and smooth comic activity through its function of risk diversification and price decrement with the launch of the stock index futures.

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The Contingent Effect of Marketing Alliances on Firm Profitability

  • Lee, Jongkuk
    • Asia Marketing Journal
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    • v.16 no.4
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    • pp.19-37
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    • 2015
  • Forming interfirm collaborative relationships has become a key aspect of a firm's marketing strategies to create value for customers and achieve greater firm performance. While empirical findings are mixed in previous studies, this study is an effort to identify boundary conditions for the benefits of marketing alliances. We investigate internal and environmental factors that may magnify or constrain the effect of marketing alliances on firm profitability. Given the complementary relationship between marketing and R&D activities, we focus on a firm's R&D intensity as an internal factor that may magnify the value of marketing alliances for firm performance. For environmental factors, we focus on industry turbulence and industry competitiveness. Industry turbulence refers to the degree to which industry market conditions change quickly and unpredictably, whereas industry competitiveness refers to the degree to which a firm faces competition in the industry. By testing these factors, we are intended to reveal boundary conditions that determine the value of marketing alliances for firm profitability. The analysis of firms in the diverse industries shows that while the main effect of marketing alliances on firm profitability is not significant, it becomes more positive when R&D investment is more intensive or when industry environment is more turbulent. The results of this study imply that just forming more marketing alliances may not be enough to increase firm profitability. Our findings imply that marketing alliances become more effective in a dynamically changing industry environment. That is, firms can cope with industry uncertainties more effectively by forming marketing alliances. At the same time, the moderating effect of R&D intensity implies that the internal investments in R&D magnify the effect of marketing alliances on firm profitability. The findings of this study contributes to the existing alliance literature in three aspects. First, this study enhances our understanding of the contingent value of marketing alliances by testing both internal and external factors that may influence the effectiveness of marketing alliances. Second, this study responds to the need for research that investigates actual performance resulting from interfirm relationships. Third, while previous studies primarily focused on a specific industry, this study extend previous findings of the boundary conditions for the benefits of marketing alliances in a broader context.

Price Discovery in the Korean Treasury Bond Futures Market (한국국채선물시장에서의 가격발견기능에 관한 연구)

  • Seo, Sang-Gu
    • Management & Information Systems Review
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    • v.30 no.2
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    • pp.257-275
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    • 2011
  • The price relationship between the futures market and the underlying spot market has attracted the attention of academics, practitioners, and regulators due to their roles during periods of turbulence in financial markets. The purpose of this paper is to investigate the dynamic of price relationship(or lead-lag relationship) between Korean Treasury Bond futures market and spot market. To examine the nature of the price relationship, descriptive statistics, serial correlation, and cross-correlation are used as a preliminary statistics in the Korean Treasury Bond spot and futures market. Next, following Stoll-Whaley(1990) and Chan(1992), the multiple regression method is used to examine the lead-lag patterns between the two markets. The empirical results are summarized as follows. The mean returns of spot markets and future markets are positive(+) and negative(-) respectively and the standard deviation of both stock and futures returns increase through the sub-periods. For the most periods, there is negative skewness in the both markets. The zero excess kurtosis due to the heavy tails of the distribution are relatively large. The autocorrelations in the spot returns for the sample periods are positive in time lag 1, but the autocorrelations in the future returns shows no significant evidence. The results of the daily cross-correlations between the KTB spot and futures returns indicate that a lead-lag relationship don't exist for price changes of futures and spot markets as a preliminary analysis. Finally, empirical results of regression analysis for both market indicate that there is no evidence that the KTB futures lead the KTB spot market, or the KTB spot market lead the KTB futures market. These results are robust for all sub-periods.

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E-Business Strategies : The Antecedents and Consequences (e 비즈니스 전략 : 선행요인과 결과)

  • Koo, Chul-Mo;Kim, Yona-Jin;Nam, Ki-Chan
    • Journal of the Korean Operations Research and Management Science Society
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    • v.31 no.4
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    • pp.49-68
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    • 2006
  • E-business strategy has interests in Issues of strategic positioning and its impact on firm performance. These studies address the environmental factors as antecedents to strategic decision makings and its consequences such like firm performance. However most studies has not considered the role of business models In explaining e-business firm performance. We adopt Porter's generic strategies to the e-business context. We Identify business models and e-business environmental factors as antecedents and then examine these factors Influence on firm performance. We find that uncertainty of environment has a negatively related to the strategic choices of e-Business firms; in contrast, market turbulence positively affects the level of adoption of all the strategies. Among the strategies, marketing differentiation only makes an Impact on firm performance.