• Food Science of Animal Resources
• /
• v.34 no.6
• /
• pp.757-762
• /
• 2014

The object of this study was to investigate the difference in physical and sensory properties of various premium ice creams. The physical properties of the various ice creams were compared by manufacturing brand. The water contents of the samples differed, with BR having the highest value at 60.5%, followed by NT and CS at 57.8% and 56.9%, respectively. The higher the water content, the lower Brix and milk fat contents in all samples. The density of the samples showed almost similar values in all samples (p>0.05). The viscosity of each ice cream had no effect on the water content in any of the brands. Before melting of the ice cream, the total color difference was dependent on the lightness, especially in the vanilla ice cream, owing to the reflection of light on the surface of the ice crystals. The CS product melted the fastest. In the sensory test, CS obtained a significantly higher sweetness intensity score but a lower score for color intensity, probably due to the smaller difference in total color, by which consumers might consider the color of CS as less intense. From this study, the cold chain system for ice cream distribution might be important to decide the physical properties although the concentration of milk fat is key factor in premium ice cream.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.8
• /
• pp.25-31
• /
• 2020

The purpose of this paper is to examine a financial distress premium in the emerging market. A risk-return trade-off of negative book equity (NBE) and distress firms is empirically analyzed using data from the Stock Exchange of Thailand. This research employs Ohlson's (1980) bankruptcy model as a measurement of distress risk. The results indicate that distress firms outperform solvent firms in the Thai market and deny distress anomaly often found in the developed market. Fama-Frech (1993) three-factor model and Carhart (1997) four-factor model verify the existence of a distress premium in the Thai capital market. Risk-seeking investors demand greater compensation for bearing risks of distress firms' going concern. This paper provides fresh evidence that default risk is a significant explanatory factor in pricing stocks in the emerging market. Also, this study sheds light on the role of NBE firms in asset pricing. Most studies eliminate NBE firms from their sample. However, NBE firms yield superior average cross-sectional returns, albeit with higher volatility. Investors are rewarded with distress risks associated with NBE firms. The outperformance of NBE firms is statistically significant when compared to the overall market. The NBE premium disappears when factoring size, value, and momentum in time-series analysis.

• International Journal of Highway Engineering
• /
• v.16 no.1
• /
• pp.75-89
• /
• 2014

PURPOSES : This study evaluates the economic value of national highway construction projects using Real Option Pricing Models. METHODS : We identified the option premium for uncertainties associated with flexibilities according to the future's change in national highway construction projects. In order to evaluate value of future's underlying asset, we calculated the volatility of the unit price per year for benefit estimation such as VOTS, VOCS, VICS, VOPCS and VONCS that the "Transportation Facility Investment Evaluation Guidelines" presented. RESULTS : We evaluated the option premium of underlying asset through a case study of the actual national highway construction projects using ROPM. And in order to predict the changes in the option value of the future's underlying asset, we evaluated the changes of option premium for future's uncertainties by the defer of the start of construction work, the contract of project scale, and the abandon of project during pre-land compensation stages that were occurred frequently in the highway construction projects. Finally we analyzed the sensitivity of the underlying asset using volatility, risk free rate and expiration date of option. CONCLUSIONS : We concluded that a highway construction project has economic value even though static NPV had a negative(-) value because of the sum of the existing static NPV and the option premium for the future's uncertainties associated with flexibilities.

• The Korean Journal of Applied Statistics
• /
• v.26 no.2
• /
• pp.237-252
• /
• 2013

An estimation model for premiums and components is essential to determine reasonable insurance premiums. In this study, we introduce diverse models for the estimation of property damage premiums(premium, depth and frequency) that include a regression model using a dummy variable, additive independent variable model, autoregressive error model, seasonal ARIMA model and intervention model. In addition, the actual property damage premium data was used to estimate the premium, depth and frequency for each model. The estimation results of the models are comparatively examined by comparing the RMSE(Root Mean Squared Errors) of estimates and actual data. Based on real data analysis, we found that the autoregressive error model showed the best performance.

• The Korean Journal of Health Service Management
• /
• v.5 no.2
• /
• pp.23-33
• /
• 2011

The purpose of this study was to investigate the effects of a medical institution's brand equity on the users' trust and brand loyalty and further on price premium with trust and brand loyalty as the parameters. For that purpose, a survey was taken among 448 people that used service at university hospitals, general hospitals, and hospital in Busan. The results show that such brand equity components as the associated image of the brand and perceived quality had significant influences on relationships with trust with the latter having the greatest influences. Brand recognition, associated image of the brand, and perceived quality all had significant impacts on brand loyalty. The associated image of the brand had the biggest impacts, being followed by perceived quality and brand recognition in the order. Trust had positive impacts on brand loyalty according to the survey results about the quality of relationships with consumers, which suggests that medical institutions can increase their users' brand loyalty and intention for re-use by promoting their trust in them. While brand loyalty turned out to have statistical significance on the users' price premium, trust did not.

• Journal of the Korean Society of Food Culture
• /
• v.34 no.3
• /
• pp.308-315
• /
• 2019

This study examined the service quality attributes of the CVS (Convenient Store) packed meal products by applying the Kano model. The main survey was conducted by a research company using an online survey in the form of a self-administered questionnaire. The 499 samples were limited to customers who had experienced CVS packed meal products within the last months. A total of 14 service quality attributes of the CVS premium packed meal products were categorized as four attractive qualities, one must-be quality, three one-dimensional qualities and six indifferent qualities. According to the Better and Worse quotient designed by Timko, 'coupon and sales promotion event', 'healthy menu configuration', and 'balanced nutrition' had higher levels of the Better coefficient. On the other hand, 'hygiene and cleanliness', 'the delicious food', and 'fresh ingredients' showed a higher Worse coefficient. The results also suggest that each service quality attribute is not a single dimension but a complex attribute. As a result, this research suggests that marketing practitioners should immediately identify consumer's changing perception of quality to attract new customers and prevent existing customers from leaving in the CVS premium packed meal products segment.

• Korean Journal of Organic Agriculture
• /
• v.30 no.2
• /
• pp.255-277
• /
• 2022

This study investigated consumers' perception of fruits and vegetables grown in smart farms to stimulate the sale of agricultural products grown in smart farms. To this end, a survey was conducted on 1,050 consumers. The main results are as follows. First, 58.6% of respondents knew about smart farms, and they perceived fruits and vegetables grown in smart farms as more valuable than those grown in conventional facilities. In the detailed values, values of safety and environmental damage reduction were perceived to be of greatest value among five values. Second, as a result of investigating the importance of smart farm cultivation information in comparison with price, the most respondents emphasized both smart farm cultivation information and price information, and smart farm cultivation information was compared with price information. Cases were investigated to be more important with slight differences. Third, 41.4% of respondents had the price premium payment intention for fruit and vegetables grown in smart farms. Fourth, as a result of analyzing variables affecting the premium intention, the higher the health value among five values was recognized and the more important the smart farm cultivation information was, the higher the premium payment intention was.

• KDI Journal of Economic Policy
• /
• v.44 no.4
• /
• pp.43-78
• /
• 2022

The arena of strategic competition between the US and China is expandable from international politics, trade and commerce to finance. What would happen if financial sanctions against China are imposed by the US? Would US financial sanctions lead to a sudden outflow of foreign capital and a liquidity crisis in China? We try to address these questions by estimating China's capital flows-at-risk with the CDS premium on Chinese sovereign funds. We follow Gelos et al. (2019) in setting up a quantile regression model from which China's foreign capital flow-at-risks are estimated. Based on our analysis of China's monthly capital flow data, we find that a rise in the CDS premium has statistically significant negative impacts on China's foreign capital flows-at-risk, mainly in banking flows. However, the analysis also found that due to favorable global conditions, an increase in the CDS premium is unlikely to trigger a shift to a sudden outflow of foreign capital at the moment. Meanwhile, this study found no statistically significant correlation between Korea's capital flows-at-risk and the CDS premium, suggesting that the negative impact of US financial sanctions on China would not increase the probability of capital flight from Korea in a significant manner.

• Journal of the Korean Society of Clothing and Textiles
• /
• v.30 no.9_10 s.157
• /
• pp.1400-1412
• /
• 2006

As PB market segments into premium market, PBs were drawing attentions in terms of creating profits as well as a means to differentiate building up store identity. The purpose of this study makes a comparative study on the difference of consumer attitude formation process in discount store and home-shopping distribution channel which are recently on the upswing. This paper investigated the consumer's attitude formation on the private apparel brand. Subjects of this study were consumers in their $20s{\sim}40s$ who are main customer groups of PBs. The data were analyzed by Structural Equation Modeling and Multi-Group Analysis of Amos 5.0 to verify the difference of the path between store PB and premium PB. Following are the results of the study. Consumer attitude formation path on PB grades showed statistically noticeable difference. In discount store PB, store evaluation didn't directly influence on consumer attitude formation but showed indirect effect. On the other hand, in home shopping premium PB case, product evaluation directly influenced on consumer attitudes with store evaluation. Hedonic attitude dimension connected with behavioral attitude(purchase intention) revealed difference in path. Also consumer's evaluation on variables in model turned out to be different according to brand grade.

• Culinary science and hospitality research
• /
• v.22 no.8
• /
• pp.122-134
• /
• 2016

This study was conducted to examine what effect was produced on brand attitude and purchase intention by consumer attitude towards the visual merchandising of premium supermarket made using self-reported survey method during 1 Jun 2016 to 14 Jun 2016 as perceived by consumers who have experience in purchasing a product in premium supermarket located in Seoul. Result findings are follow. First there was significant influence between consumer perception and brand attitude (${\beta}=0.157$, p<.001) for harmony, ${\beta}=0.111$ (p<.01) for attractiveness, ${\beta}=0.639$ (p<.001) for suitability, and ${\beta}=0.146$ (p<.001) for trend), but credibility didn't have any effect on brand attitude. Second, according to the results of making a regression analysis in order to analyze an effect that brand attitude had on purchase intention, the brand attitude had a significantly positive (+) effect on purchase intention (${\beta}=0.818$, p<.001). Third, the influence on purchase intention by consumer attitude towards the visual merchandising of premium supermarket was verified (${\beta}=0.181$, p<.001) for attractiveness, ${\beta}=0.520$ (p<.001) for suitability, ${\beta}=0.325$ (p<.001) for trend), and the harmony and credibility didn't have any effect on purchase intention in current study.