• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.977-985
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• 2021

The main aim of the study is to provide empirical evidence about the association between stock market exchange data and weighted price index. This research utilized monthly reported data from the Amman stock exchange market (ASE) and the Central Bank of Jordan (CBJ). The weighted price index was employed as the dependent variable and the independent variables were weighted price index (WPI), turnover ratio (TOR), number of trading days (NTD), price-earnings ratio (PER), and dividends yield ratio (DY). The time period of the study was from January 2015 to October 2020. The study's methodology follows a quantitative approach using the multiple regression method to test the hypotheses of the study. The final results of the study provided conclusive evidence that the market-weighted price index is strongly and positively correlated to three predetermined variables, namely; turnover ratio, price-earnings ratio, and dividend yield but no evidence was obtained for the effect of the number of trading days. The finding of the current study proved that the market price index is not only influenced by macro factors, but also by other variables assumed to not beneficial for the judgment of price index movements.

• 한국의류학회지
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• 제23권1호
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• pp.170-181
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• 1999

The aim of this paper was to look at the distribution intensity for the women's formal wear industry. Most of the previous works on the distribution design have stressed product characteristics and consumer's shopping behaviours. The firm especially in women's aopparel industry recently has had difficulty in how to decide and to select the distribution numbers in the domestic market. Thus five hypothesis were set based on the data in '98Korea Fashion Guide describing the brand of women's wear in detail. It has been published by Korea Fashion Association in 1997. The variables of this study were the price the total sale the launching period the target customer's age and brand origins related with domestic or foreign. 579 brands had been analyzed with percentage anova duncan's test pearson's correlation and t-test. the results were as follows: In general the higher the price of the product is the less intensive the distribution of the women's apparel industry is. The higher the total sale is and the younger the target customer's age is the more intensive the distribution of the women's apparel industry is Besides there is difference between the domestic brand and the foreign brand in the distribution intensity. There is no relationship between the launching period of the brand and the distribution intensity. In addition four brand types were classified into the national brand the designer brand the licensed brand and the imported brand. Satatistically variables have shown different relations in terms of each brand type.

• 유통과학연구
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• 제11권10호
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• pp.37-45
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• 2013

Purpose - Appropriate response to the fast changing economic environment determines SMEs' competiveness in the era of globalization and open market and, therefore, government policies to strengthen SME's competitiveness will be very important in the future. It is time to investigate the element of strategic orientation that is necessary for strengthening the competitiveness of SMEs, and its effect on the success of a business start-up. This study analyzes the network orientation in addition to existing strategic orientation, and focuses on price and quality management capability as mediators for strategic orientation and outcomes of business start-ups. Research design/data/methodology - The orientations of technology-based business founders were classified into market, technology, network, and entrepreneurial orientation. We then investigated the effect of these orientations on product price and quality management capability, as well as the influence of price and quality management capability on the outcome of a business start-up. This study is based on the nation-wide survey of the founders and members of technology-based business establishments. The survey was administered to 300 selected companies via email for a period of one month, at the end of which 175 companies replied with valid answers. Further, for effective and objective research, we used SPSS 14.0 and Amos 7.0 for structural equation modeling assumptions and hypothesis verification. Results - Except for entrepreneurial orientation, the other three orientations, namely, technology, market, and network orientations, affect the price management capability according to our results. The price management capability relates significantly with the sales and customer satisfaction. Especially, technology orientation is the core competency of start-ups that affects price and quality management capabilities. However, technology and entrepreneurial orientation do not influence the outcome of business start-ups, but affect their quality management capabilities. Conclusions - This study confirms that the strategic orientation affects product price as well as quality management capabilities, to introduce new products and achieve successful outcomes. In conclusion, new business founders face the dilemma of trade-off between price and quality in the planning stage of new product development. In particular, price management capability directly affects the outcome. Therefore, price management is more important for a successful start-up than quality management. Especially, during the initial stages of starting up a new business, price management capability entails following the market-leading company, or price penetration strategy. In this stage, price management is dependent on the information from outside rather than on the founder's decision, and it directly affects sales performance and customer satisfaction. In contrast, quality management capability is directly related to the technology capability and market experience of founders. In this case, subjective and proactive decision making is required for differentiation and development of demand in the niche market, which does not directly influence the sales performance and customer satisfaction.

• 스마트미디어저널
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• 제13권1호
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• pp.9-17
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• 2024

본 연구는 농산물의 품질, 수익 및 의사결정 효율성을 향상시키기 위한 통합적인 농업 유통망 관리시스템을 개발하는 데 목적이 있다. 우리는 YOLOX 객체 탐지 알고리즘을 기반으로 한 농작물 성숙도 체크와 Prophet 모델을 기반으로 한 시장 가격 예측이라는 두 가지 핵심 기술을 채택하였다. 객체 탐지 모델을 훈련함으로써, 다양한 성숙도 단계의 농작물을 정확하게 식별할 수 있게 되어 출하 시기를 최적화할 수 있었다. 동시에, 과거 시장 가격 데이터를 수집하고 Prophet 모델을 사용하여 가격을 예측함으로써, 출하시기 결정권자들에게 신뢰할 수 있는 가격 추세 정보를 제공하였다. 연구 결과에 따르면, 휴일 요소를 고려한 모델의 성능이 그렇지 않은 모델보다 두드러지게 우수하다는 것이 밝혀져서 휴일이 가격에 미치는 영향이 강함을 증명하였다. 이 시스템은 농민 및 농산물 유통 관리자에게 강력한 도구 및 의사결정 지원을 제공하여, 다양한 계절과 휴일 기간 동안 현명한 의사결정을 내릴 수 있게 도와준다. 아울러, 농산물 유통망을 최적화하고 농산물의 품질과 수익을 향상시킬 수 있다.

• 재무관리연구
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• 제24권2호
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• pp.183-206
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• 2007

The price-dividend ratio is one of the most frequently used financial variables to predict long-horizon stock return. However, the persistency of the price-dividend ratio is found to cause the spuriousness of the stock return prediction regression. The stable relationship between the stock price and the dividend, however, seems to weaken after World War II and to experience structural break. In this paper, we identify a structural change in the cointegrating relationship between the log of the stock price and the log of the dividend. Confirming a structural break in 1962, we subdivide the sample and apply the fully modified estimator to correct for the nonstationarity of the regressor. With the subdivided sample, we exercise the nonparametric bootstrap procedure to derive the empirical distribution of the test statistics and fail to find return predictability in each subsample period.

• 산경연구논집
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• 제10권6호
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• pp.51-58
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• 2019

Purpose - Prior studies reported that the opacity of information caused stock price crash. If managers fail to disclose unfavorable information about the firm over a long period of time, the stock price is overvalued compared to its original value. If the accumulated information reaches a critical point and spreads quickly to the market, the stock price plunges. Information management by management's disclosure policy can cause information uncertainty, which will lead to a plunge in stock prices in the future. Thus, this study aims at examining the impact of disclosure quality on crash risk by focusing on the unfaithful disclosure firms. Research design, data, and methodology - This study covers firms listed on KOSPI and KOSDAQ from 2004 to 2013. Firms excluded from the sample are non-December firms, capital-eroding firms, and financial firms. The financial data used in the research was extracted from the KIS-Value and TS2000 database. Unfaithful disclosure firm designation data was collected from the Korea Exchange's electronic disclosure system (kind.krx.co.kr). Stock crash is measured as a dummy variable that equals one if a firm experiences at least one crash week over the fiscal year, and zero otherwise. Results - Empirical results as to the relation between unfaithful disclosure corporation designation and stock price crashes are as follows: There was a significant positive association between unfaithful disclosure corporation designation and stock price crash. This result supports the hypothesis that firms that have previously exhibited unfaithful disclosure behavior are more likely to suffer stock price plunges due to information asymmetry. Second, stock price crashes due to unfaithful disclosures are more likely to occur in Chaebol firms. Conclusions - While previous studies used estimates as a proxy for information opacity, this study used an objective measure such as unfaithful disclosure corporation designation. The designation by Korea Exchange is an objective evidence that the firm attempted to conceal and distort information in the previous year. The results of this study suggest that capital market investors need to investigate firms' disclosure behaviors.

• 유통과학연구
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• 제15권11호
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• pp.73-82
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• 2017

Purpose - This paper aims to investigate a profit maximizing incentive of foreign traders in distributing the KOSPI 200 Futures. Such an incentive may induce unsophisticated retail traders to suffer loss from speculative trading. Since Korean government increased the entry barriers of the market to protect unsophisticated traders, the market size has been decreasing while the proportion of the contract held by foreign traders has been increasing. These on going changes make the market imperfectly competitive, where a profit maximization incentives of foreign traders are expected to grow. In this paper, we attempt to find any evidence of such behavior, thereby providing implications regarding market policy and market efficiency. Research design, data, and methodology - According to Kyle(1985), an informed trader exploits his/her monopoly power optimally in a dynamic context so that he/she makes positive profit, where he/she could conceal his/her trading utilizing noise trading as camouflage. We apply the KOSPI 200 Futures market to the Kyle's model: foreign traders who take into account the effect of his/her trading to maximize expected profits as an informed trader, retail investors as noise traders, and financial institutions as market makers. To find any evidence of monopolistic behavior, we test the variants of trading volume and price data of the KOSPI 200 Futures over the period of 2009 and 2017. Results - First, we find that the price of the KOSPI 200 Futures are more volatile than the price of underlying asset. Second, we find that monopolistic foreign trader's trading order flows are consistent with exploiting his/her monopoly power to maximize profit. Finally, we find that retail investors' trading order flows are inversely consistent with maximizing profit, that is, uninformed retail investors suffer loss continuously in speculative trading against informed traders. Conclusions - Our results show that the quantity of strategic order flows may have a large effect on the price, therefore, resulting the market inefficiency. The results also imply that, in implementing regulations, the depth of the market must be considered to maintain market liquidity, and suggesting interesting research topics regarding the market structure.

• 한국유기농업학회지
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• 제15권2호
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• pp.151-169
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• 2007

By the environment-friendly(hereafter EF) agricultural policy and toward the safety food of consumers, there is much glowing supply and demand fur EF agricultural products, in Korea. But, in general, EF agricultural products are blown as unique, unreasonable and high price system. This study aims to make clare the main bodies and competition structure in EF agricultural products and the different from the agricultural products. The mail results of this study are summarized as follows. Firstly, farmers and consumers directly participate in the distribution, and the major distributors participate in the market of EF agricultural products after the certification system is got ready. Because EF agricultural products is not dealt and the price system is not built up in agricultural wholesale market. Secondly, the distribution route of EF agricultural products is organized the unified organization by the main bodies such as farmers, consumers co-op, and special distributors. In any step of distribution, the main body of distribution surely deals with the contracted farmers, consumers co-op, and special distributors. Accordingly, it is said that EF agricultural products has the competition structure between the distribution route organized the unified organization rather than between main bodies in the each steps of distribution.

• 유통과학연구
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• 제11권9호
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• pp.5-15
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• 2013

Purpose - The research aim is to shed empirical light on whether quality-focused retailer brands such as Premium brand of Tesco Korea, Prime of Lotte Mart, and Best of E-Mart in the grocery market, make a contribution to developing store loyalty in the Korean market particularly. Research design, data, methodology - After developing sixconstructs, such as higher quality, stock availability, price levels, national brands, retailer brand attitudes, and store loyalty, the authors adopted exploratory factor analysis, confirmatory factor analysis, chi-square test and structural equation modelling as a research technique. Results - It was found that higher quality strongly influences the retailer brand attitude formation, and that retailer brand customers were sensitive to price levels. Buyers are, nevertheless, relatively less aware of price levels, when purchasing quality-oriented retailer brand types. Conclusions - The research implied that quality-oriented retailer brand types make a significant contribution to retailer brands attitude formation, and further, building store loyalty.

• Asian Journal of Business Environment
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• 제10권1호
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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.