• Journal of Distribution Science
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• v.16 no.12
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• pp.5-11
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• 2018

Purpose - We investigate the relationship between economic policy uncertainty (EPU) of the US and China and housing distribution economy in Korea using EPU indexes of two countries and the economic indicators in Korea. Research design, data, and methodology - We use the data such as the Korean housing price stability index (HPSI), housing purchase price index (HPPI), housing lease price index (HLPI), banking stock index (BSI), and consumer price index (CPI) with EPU indexes from January 1999 to December 2017. As an empirical methodology, we select the vector error correction model (VECM) due to the existence of cointegration. Result - As results of the impulse response function, the impact of the US EPU index has initially a negative response on the Korean HPSI, HPPI, and HLPI referring the housing distribution market including the economic variables, BSI, and CPI. Likewise, the impact of index in China has initially a negative response on economic indicators except the BSI in Korea. Conclusions - This study shows that the EPU index of the US has significantly negative relationships on all economic indicators in Korea. In this study, we reveal EPU of the US and China has dynamic impact on housing distribution economy returns in Korea.

• Journal of Distribution Science
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• v.22 no.6
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• pp.11-22
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• 2024

Purpose: Thisstudy aimsto analyze the distribution of audit committee, independent board of commissioners, and institutional ownership on earnings quality with strengthening earnings growth. Research Design data and Methodology: This quantitative research uses a comparative causal approach. The research population consists of manufacturing companies in the basic and chemical industry sector listed on the Indonesia Stock Exchange in 2016-2022. Samples were obtained as many as 112 using purposive sampling method. The analysis technique to test the hypothesis uses multiple linear regression tests and moderation tests with an absolute difference approach. Results: The results showed that the audit committee and board of commissioners provide a significant positive distribution on earnings quality, while institutional ownership provides a significant negative distribution on earnings quality. Earnings growth strengthens the distribution of the audit committee and independent board of commissioners on earnings quality. However, earnings growth does not strengthen the distribution of institutional ownership on earnings quality. Conclusions: Audit oversight from audit committee and management performance oversight from the independent board of commissioners improves the credibility of earnings quality. Management oversight from institutional ownership reduces earnings quality. The interaction of earnings growth with maximum supervision can improve earnings quality, except for supervision from institutional ownership.

• Journal of Distribution Science
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• v.4 no.1
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• pp.161-173
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• 2006

The most important two decision-makings which a retail store owner face require which place of the store should geographically be established and which stock should be properly placed on the shelves. The problem of geographic positioning is the decision-making for the store's positioning and stock arrangement within the retail store is the decision-making for the placement store. In order to determine the positioning, the expected area should be analyzed so that the analysis of commercial area can usually be implemented in accordance with retail marketing strategy and therefore the sized of the potential market for example each distric's clientele, competition and, a municipal community's regulations, could be evaluated. But I contend that with only the size of potential market does not give an adequate answer to the problem of a store's positioning. Through the estimation of commercial are in combination with feng-shui, the theory of divination based on topography, the store's position could be selected, taking a positive energy, Gi. This thesis is the starting point of these trials. In the long run, the actual analysis of the study should be continued in a more scientific, systematic, statistical way.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.47 no.5
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• pp.671-681
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• 2014

The distribution and abundance of coastal fish species in Asan Bay, Korea, were estimated from hydroacoustic survey and net catches. Acoustic data were collected with 38 and 200 kHz from July to October of 2012, and converted to the nautical area scattering coefficient (NASC, $m^2/mile^2$) for $0.25n{\cdot}mile$ along ten transects. Japanese anchovy Engraulis japonicus was the dominant specie in the net catches. The virtual echogram technique was used to distinguish E. japonicus from other species based on the differences in the mean volume backscattering strength (${\Delta}MVBS$) at 38 and 200 kHz. Engraulis japonicus and other fishes are mainly distributed in the center channel and outer part of Asan Bay. E. japonicus tends to move from inner to outer Asan Bay in summer and fall. From NASC data, the target strength and length-weight function of E. japonicus and other fishes were used to estimate the E. japonicus stock at 24.1-93.3 tons, and other fish at 40.6-88.4 tons from July to October 2012. The estimated anchovy biomass compared well with the cumulative catch weight from stow net catches. The hydroacoustic method offers an approach to understanding spatial/temporal structure and estimating the biomass of fish aggregations in coastal areas.

• Journal of the Korea Society of Computer and Information
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• v.11 no.2 s.40
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• pp.295-301
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• 2006

An operational strategy for inventory control on finished goods in the distribution system has been given attention to many enterprises and many studies regarding this field have been done and is also on-going currently. It handling large scale of smallness type are so the requisition of customer which is various that over it continues more full scale merit. therefore, It is a tendency that many of enterprise is handling small scale of smallness type for environment change confrontation. but It is not easy for the enterprise to In customer demand diversification suiting because too need many cost. In addition, at enterprise charge extra weight because remainder inventory is causes of defective stock for a inefficient problem solution. this paper is rationalization of stock cost decrease for comparison evaluation of small scale quantify handling of singleness type and small scale quantity handling of largeness type.

• Proceedings of the Korean Society of Computer Information Conference
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• 2008.06a
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• pp.99-103
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• 2008

An operational strategy for inventory control on finished goods in the distribution system has been given attention to many enterprises and many studies regarding this field have been done and is also on-going currently. It handling large scale of smallness type are so the requisition of customer which is various that over it continues more full scale merit. therefore, It is a tendency that many of enterprise is handling small scale of smallness type for environment change confrontation. but It is not easy for the enterprise to In customer demand diversification suiting because too need many cost. In addition, at enterprise charge extra weight because remainder inventory is causes of defective stock for a inefficient problem solution. this paper is rationalization of stock cost decrease for comparison evaluation of small scale quantity handling of singleness type and small scale quantity handling of largeness type.

• Journal of the Korean Data and Information Science Society
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• v.26 no.6
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• pp.1479-1494
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• 2015

Since the Markowitz's mean-variance framework for portfolio analysis, the topic of portfolio optimization has been an important topic in finance. Traditional approaches focus on maximizing the expected return of the portfolio while minimizing its variance, assuming that risky asset returns are normally distributed. The normality assumption however has widely been criticized as actual stock price distributions exhibit much heavier tails as well as asymmetry. To this extent, in this paper we employ the genetic algorithm to find the optimal portfolio under the Value-at-Risk (VaR) constraint, where the tail of risky assets are modeled with the generalized Pareto distribution (GPD), the standard distribution for exceedances in extreme value theory. An empirical study using Korean stock prices shows that the performance of the proposed method is efficient and better than alternative methods.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.119-146
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• 2005

This study applies extreme value theory to get extreme value-VAR for Korean Stock market and showed the usefulness of the approach. Block maxima model and POT model were used as extreme value models and tested which model was more appropriate through back testing. It was shown that the block maxima model was unstable as the variation of the estimate was very large depending on the confidence level and the magnitude of the estimates depended largely on the block size. This shows that block maxima model was not appropriate for Korean Stock market. On the other hand POT model was relatively stable even though extreme value VAR depended on the selection of the critical value. Back test also showed VAR showed a better result than delta VAR above 97.5% confidence level. POT model performs better the higher the confidence level, which suggests that POT model is useful as a risk management tool especially for VAR estimates with a confidence level higher than 99%. This study picks up the right tail and left tail of the return distribution and estimates the EVT-VAR for each, which reflects the asymmetry of the return distribution of the Korean Stock market.

• The Korean Journal of Financial Management
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• v.21 no.1
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• pp.149-181
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• 2004

In this study we perform empirical tests using KOSPI return to investigate the existence of nonlinear characteristics in the generating process of stock returns. There are three categories in empirical tests; the test of nonlinear dependence, nonlinear stochastic process and nonlinear deterministic chaos. According to the analysis of nonlinearity, stock returns are not normally distributed but leptokurtic, and appear to have nonlinear dependence. And it's decided that the nonlinear structure of stock returns can not be completely explained using nonlinear stochastic models of ARCH-type. Nonlinear deterministic chaos system is the feedback system, which the past incidents influence the present, and it is the fractal structure with self-similarity and has the sensitive dependence on initial conditions. To summarize the results of chaos analysis for KOSPI return, it is the persistent time series, which is not IID and has long memory, takes biased random walk, and is estimated to be fractal distribution. Also correlation dimension, as the approximation of fractal dimension, converged stably within 3 and 4, and maximum Lyapunov exponent has positive value. This suggests that chaotic attractor and the sensitive dependence on initial conditions exist in stock returns. These results fit into the characteristics of chaos system. Therefore it's decided that the generating process of stock returns has nonlinear deterministic structure and follow chaotic process.

• Journal of the Korean Operations Research and Management Science Society
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• v.31 no.4
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• pp.125-138
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• 2006

This paper considers a periodic review, two-echelon inventory system with one central warehouse and several re-tailers facing normally distributed demand. The goal is to attain target fill rates, while the systemwide total holding costs are minimized. An important aspect of this problem is material rationing in the case of shortages. If a central warehouse has insufficient inventory to deliver all replenishment orders to retailers, all order quantities are should be adjusted according to some rationing rule. A simple but efficient rationing rule is proposed and compared with the Balanced Stock (BS) rationing as introduced by Heijden which is known to be the best rationing policy in the literature. Numerical results show that the proposed rationing rule is more cost effective than BS rationing, especially for the differences in holding costs between retailers are large.