• Journal of Information Technology Applications and Management
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• 제13권1호
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• pp.1-16
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• 2006

This paper empirically analyzed consumer price search behavior using Web log data of a Korean web site for price comparison. Consumer click-stream data of the site was used to test the effects of price level, product category, third party certification, reputation of retailers on click behavior. According to the descriptive statistics, 67.4% of shopbot users clicked the offer which was the lowest price returned in a search. We found that third party certification and reputation of retailers were significant determinants of clicking the lowest priced offer from legit analysis. We also applied Tobit regression analysis to estimate the price premium of the two determinants, but only reputation of retailers was found to have price premium of 4.9%.

• 한국의류산업학회지
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• 제22권5호
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• pp.570-583
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• 2020

The fashion industry is accountable for labor and environment-related issues. With such issues raised, consumers' social responsibility for environmental and labor issues has become an important factor that shapes the perception of companies. This study investigates the relationship between consumer values, concerns regarding social issues, and willingness to pay a premium for ethical fashion products. This study included two exogenous variables of altruistic value and egocentric value. In the conceptual model, consumers' social responsibility was conceptualized as two constructs of environmental consciousness and labor-issue consciousness. It was then analyzed as mediating variables. Willingness to pay a premium for ethical fashion products was the endogenous variable. Data was collected and analyzed with PLS-SEM from 600 consumers. The assessment of discriminant validity and construct validity using CFA were conducted before analyzing the model. Structural equation modeling results revealed that altruistic value directly influenced environmental consciousness and labor-issue consciousness. However, egocentric value was directly and significantly influenced only by labor-issue consciousness. Both environmental and labor issue consciousness directly influenced customers' willingness to pay a premium, but did not significantly change their willingness to pay a premium. Two-stage serial mediation analysis results indicated that the constructs did not have a significant mediation effect on the exogenous variables (altruistic value and egocentric value) and the endogenous variable (willingness to pay a premium) for ethical fashion products. This study found the influence of consumer's personal values on their willingness to pay a higher price for ethical fashion products.

• 한국산림과학회지
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• 제98권2호
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• pp.203-211
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• 2009

The study was conducted to examine consumers' awareness and perceptions on forest certification and their willingness to buy and pay price premium for certified wood products especially for selected four wood products. A total of 136 residents in Seoul and Gyeonggi Province were interviewed in the autumn of 2008. Although only 24.3 percent of the consumers are aware of forest certification, 82.4 percent of the respondents recognized the need and significance of forest certification. In general, 77.2 percent of the respondents were willing to buy certified wood products. Majority of the respondents, 84 out of 136 respondents (61.8%) expressed their willingness to pay (WTP) from more than 0 percent to less than 10 percent. Consumers' average WTP for certified wood products was estimated to be 5.6 percent. From the results of the study, lower priced wood products, such as copier paper (WTP=9.8%) and wood frame (WTP=11.6%), have higher price premiums than high priced products, such as wood table (WTP=6.8%) and wood flooring (WTP=7.6%). In conclusion, there could be feasible markets for certified wood products in South Korea as four out of five consumer are willing to pay more for such products. For the forest certification system to be adopted and widely accepted, the perceptions of forest stakeholders including consumers should be further increased.

• 한국유기농업학회지
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• 제20권1호
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• pp.1-19
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• 2012

The purpose of this study is to analyze consumption of homemade organically processed food (HOPF), and to derive directions for consumption promotion of HOPF. A survey was conducted for quantitative analysis regarding consumption. This study used an Ordinal Logistic Regression Model to derive more significant results in analyzing factors of consumption. The findings was that younger consumers with high income are more likely to purchase HOPF. And those consumers with high price and quality contentment are more likely to purchase HOPF. And contentment with certification institutions and improvement of health have a significant positive relationship with consumption. Consumers were found to pay 51 percent more for HOPF than for non-HOPF products. This level show that the current level of price premium for HOPF is 51 percent higher than their desired level. In order to reduce the price premium for HOPF, effective policy programs should be developed. A targeted market strategy to sell HOPF to younger consumers with high income is needed to boost consumption. A strict certification management system should be established to enhance consumer reliability in HOPF.

• Journal of Community Nutrition
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• 제8권2호
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• pp.96-101
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• 2006

This study compares brand equity of the fast food industry between Korea and the Philippines. This comparison is conducted by measuring a price premium that the college students in both countries would pay for hamburgers. Three popular fast food chains in each country, Lotteria, McDonalds', and Burger King in Korea and Jollibee, McDonalds', and Burger King in the Philippines, were chosen for the study. Utilizing a brand-based comparative approach, the findings of the study indicated that Burger King showed the highest brand equity for the premium brand image in both countries, whereas both local brands had a lower brand equity compared to international brands. The results of the study provide useful information for international and local brand managers that wish to establish strategies for a brand image, as well as to manage brand equity effectively. (J Community Nutrition 8(2): 96-101, 2006)

• 수산경영론집
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• 제40권1호
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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.

• 유통과학연구
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• 제19권10호
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• pp.23-33
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• 2021

Purpose: This study explored factors affecting the purchase of fair trade hand-made products. We focused on the difference between the mediating effect of purchase intention and purchase purpose, and verified the additional effectiveness of premium prices. Research design, data and methodology: The data was collected through an online survey. The reliability and validity of each variable used in the questionnaire were verified. Then, each hypothesis was analyzed through multiple regression analysis. Results: First, individual social responsibility and purchasing experience of general fair trade products have a definitive effect on the intention of purchasing fair trade hand-made products. Second, the willingness to pay premium prices varies depending on whether it is an individual's consumption or consumption for others. Third, the higher the individual's social responsibility and experience in purchasing fair trade products, the more willing he is to pay premium prices. Fourth, the purchase intention of fair trade hand-made products is to have the effect of partial mediation. Fifth, when choosing a gift for an adult, it was determined that the consumer was willing to pay premium prices the highest amount. Conclusions: In terms of factors affecting the purchase of fair trade hand-made products at premium prices, it was confirmed that individuals' social responsibilities and purchases of fair trade general products had an impact.

• 한국산학기술학회논문지
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• 제14권4호
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• pp.1582-1588
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• 2013

국내외 미술시장의 규모가 성장하면서 미술품 가격요인에 관한 다양한 연구들이 이루어졌지만 미술품 가격에 영향을 미치는 중요한 요인으로 작용하는 작가 프리미엄에 대한 실증 연구는 상대적으로 미진했다. 본 연구는 국내 아트페어 중 2010년 마니프(MANIF)에 출품한 작가를 대상으로 작가 프리미엄을 결정짓는 요인 중 학력수준과 출신대학 그리고 성별이 출품 작품의 판매 여부와 작품 가격에 미치는 영향을 분석하였다. 이를 위해 통제변수로는 미술품의 장르, 규격, 그리고 미술은행 소장여부를 포함시켰다. 그 결과 상위권 대학 출신 작가가 하위권 대학 출신 작가에 비해 유의하게 판매 성사 실적과 판매 가격이 높았으며, 남성이 여성에 비해 판매 가격이 높았던 것으로 나타났다. 본 연구는 몇 가지 시사점을 제시하고 있는데, 첫째, 일반적인 예상과 같이 상위권 대학 출신 작가는 작가 프리미엄을 갖는다는 것이고, 둘째, 예상과는 달리 작가의 최종학력은 작가의 프리미엄에 반영되지 않는다는 것이다. 성별 효과가 부분적으로나마(판매 여부에서는 존재하지 않지만 판매 가격에서) 존재한다는 것은 아직도 한국의 미술 시장에서는 남성 작가 프리미엄이 남아 있다는 것을 시사한다.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.725-735
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• 2021

This study investigates whether the Islamic Exchange-Traded Funds (ETFs) provide significant benefit to investors relative to conventional ETFs. Six pairs of Islamic and conventional ETFs with 10-year daily price data from 2010 to 2019 have been selected from major market indices like MSCI World Index, MSCI Emerging Markets, MyETF Dow Jones Islamic Market Malaysia, MSCI South East Asia and Wahed FTSE Shariah USA Index for this study. For ETFs that are launched after 2010, the price data from launch date to 2019 are used. Our results show: First, Islamic ETFs are more likely to trade at a premium rather than at a discount, implying the investors are willing to pay a premium. Second, it is also found that Islamic ETFs have a relatively shorter period of price deviation from the benchmark, implying more price stability. Third, conventional ETFs have higher return and lower tracking errors relative to Islamic ETFs. These new findings add to the stylized facts of Islamic ETFs in the extant literature for investors, plan sponsors and regulators as to the differences between the ETFs. As policy suggestion, asset management companies can design new investment products to bridge the gap between conventional and Islamic finance.

• Tribology and Lubricants
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• 제37권6호
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• pp.232-239
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• 2021

Petroleum is the most consumed energy source in Korea with a usage rate of 38.7% among the available primary energy sources. The price of liquid petroleum products in Korea includes taxes such as transportation·environment·energy tax. Thus, illegal production and distribution of liquid petroleum is widespread because of its huge price difference from that of the normal product and its tax-free nature. Generally, the illegal petroleum product is produced by mixing liquid petroleum with other similar petroleum alternatives. The two kinds of gasoline, common gasoline and premium gasoline, are being distributed in Korea. The premium gasoline is often adulterated with cheaper common gasoline that lowers the octane number of gasoline. It is possible to distinguish them with their color difference, green and yellow for different grade gasoline. However, when small volume of common gasoline is added to premium gasoline, it is difficult to determine whether premium gasoline contained common grade or not. In this study, we inspect gasoline, which is illegally produced by mixing common gasoline to premium gasoline. When the ratio of mixing common gasoline is increased, premium gasoline shows decreasing absorbance at 600 nm and 650 nm under UV-Vis spectrometer. Moreover, the detected intensity (mV·s) of green dye in high performance liquid chromatography (HPLC) was decreased by common gasoline under 0.99 correlation value. The more the common gasoline is mixed, the more olefin and naphthene are detected by gas chromatography. In addition, trimethyl pentane as octane improver, paraffin and toluene are decreased by common gasoline mixing. The findings of this study suggests that illegal petroleum can be identified by analysis of components and simulated samples.