• 한국벤처창업학회:학술대회논문집
• /
• 2018.04a
• /
• pp.187-190
• /
• 2018

The study examines the effects of the regulation on cryptocurrency market, investigating a case in South Korea. As South Korea has one of the largest market share of the cryptocurrency market for the time being, its regulation in South Korea affected the entire markets around the World. This research in progress will use the method of difference-in-differences to assess the effects of regulation to the market. The findings indicate that there is a significant reduction of the Bitcoin price and the price volatility was significantly reduced by about 58% after the regulation of the cryptocurrency market. More so the trading activity indicates a huge decline after regulation was implemented.

• Journal of Distribution Science
• /
• v.11 no.10
• /
• pp.73-79
• /
• 2013

Purpose - This study examines the impact of oil price volatility on economic activities in Korea. The new millennium has seen a deregulation in the crude oil market, which invited immense capital inflow into Korea. It has also raised oil price levels and volatility. Drawing on the recent theoretical literature that emphasizes the role of volatility, this paper attends to the asymmetric changes in economic growth in response to the oil price movement. This study further examines several key macroeconomic variables, such as interest rate, production, and inflation. We come to the conclusion that oil price volatility can, in some part, explain the structural changes. Research design, data, and methodology - We use two methodological frameworks in this study. First, in regards to the oil price uncertainty, we use an Exponential-GARCH (Exponential Generalized Autoregressive Conditional Heteroskedasticity: EGARCH) model estimate to elucidate the asymmetric effect of oil price shock on the conditional oil price volatility. Second, along with the estimation of the conditional volatility by the EGARCH model, we use the estimates in a VECM (Vector Error Correction Model). The study thus examines the dynamic impacts of oil price volatility on industrial production, price levels, and monetary policy responses. We also approximate the monetary policy function by the yield of monetary stabilization bond. The data collected for the study ranges from 1990: M1 to 2013: M7. In the VECM analysis section, the time span is split into two sub-periods; one from 1990 to 1999, and another from 2000 to 2013, due to the U.S. CFTC (Commodity Futures Trading Commission) deregulation on the crude oil futures that became effective in 2000. This paper intends to probe the relationship between oil price uncertainty and macroeconomic variables since the structural change in the oil market became effective. Results and Conclusions - The dynamic impulse response functions obtained from the VECM show a prolonged dampening effect of oil price volatility shock on the industrial production across all sub-periods. We also find that inflation measured by CPI rises by one standard deviation shock in response to oil price uncertainty, and lasts for the ensuing period. In addition, the impulse response functions allude that South Korea practices an expansionary monetary policy in response to oil price shocks, which stems from oil price uncertainty. Moreover, a comparison of the results of the dynamic impulse response functions from the two sub-periods suggests that the dynamic relationships have strengthened since 2000. Specifically, the results are most drastic in terms of industrial production; the impact of oil price volatility shocks has more than doubled from the year 2000 onwards. These results again indicate that the relationships between crude oil price uncertainty and Korean macroeconomic activities have been strengthened since the year2000, which resulted in a structural change in the crude oil market due to the deregulation of the crude oil futures.

• Journal of Energy Engineering
• /
• v.5 no.1
• /
• pp.87-92
• /
• 1996

This paper formulates dynamic optimization model for Time-Of-Use Rates when a electric power system consists of three generators and a rating period is divided into three sub-periods. We use Pontryagin's Maximum Principle to derive optimal price and investment policy. Particularly the cross-price elasticities of demand are considered in the objective function. We get the following results. First, the price is equal to short-run marginal cost when the capacity is sufficient. However, if the capacity constraint is active, the capacity cost is included in the price. Therefore it is equal to the long-run marginal cost. Second, The length of rating period affects allocation of capacity cost for each price. Third, the capacity investment in dynamic optimization is proportional to the demand growth rate of electricity. However the scale of investment is affected by not only its own demand growth rate but also that of other rating period.

• Journal of Distribution Science
• /
• v.20 no.7
• /
• pp.73-86
• /
• 2022

Purpose: Considering the COVID-19 pandemic and the increasing number of online food delivery applications (OFDA), this study aims to assess the distribution of the presence of Indonesian OFDA and to measure the factors that influence the spending habits of OFDA users. Research design, data and methodology: Two hundred and nine OFDA users from Jakarta's Generation Z were surveyed via a questionnaire. The data were analyzed using Structural Equation Modeling and SMART PLS 3.0. Results: OFDAs were introduced into Indonesia in the recent past with varying degrees of popularity determined by the number of downloads. Users' intention to use was not determined by the speed of the introduction of an OFDA. This study also reveals that previous experience of the service, the orientation of time and price savings had a significant effect on spending habits. A moderating role of the saving variable on time and price was not demonstrated. Conclusions: The results of the study suggest that, in COVID-19 pandemic conditions, the spending habits of Generation Z are not based on impulse, thrift, or extravagance. The pandemic shaped specific motivations in spending habits, namely prioritizing need. This study has limitations, including the small sample size and the use of internal variables.

• Journal of Korean Institute of Industrial Engineers
• /
• v.13 no.2
• /
• pp.65-77
• /
• 1987

Congestion occurs whenever users interfere with each other, while competing for scarce resources. In a congested market, such as a telecommunication service market, users of telecommunication services incur costs in using the service in addition to the price. The user's own time costs involved in learning to use the service, waiting for the service, and making use of the service are typically greater than the price of telecommunication services. A market equilibrium analysis is performed in which a method for user demand aggregation is developed. The effects of price changes on user demands and market demands for congested services are examined. It is found that total market demands may increase as the price for less-congested services increase under certain demand conditions. This suggests that a nonuniform pricing scheme for a congested service may improve the utilization of the congested system. The sign of price cross-elasticity for congested services is show to vary with demand conditions. A possible complementary property of congested services is found and the implication of such a property is discussed. It is argued that such a complementary property may lead to a cross subsidy in a market with congestion. Finally, comparisons between uniform pricing and nonuniform pricing policies are made. A specific numerical example is given to show that a nonuniform pricing policy may be Pareto superior to a uniform pricing policy.

• Journal of Korea Society of Digital Industry and Information Management
• /
• v.6 no.4
• /
• pp.297-305
• /
• 2010

Employment number by areas is composed of various factors for groups and time series. In this paper, we use the panel data for finding various variables and using this, we analyzed the factors that is major influence to employment number by areas. For analysis we looked at employment number by areas, the region for analysis consist of seven groups, that is, the metropolitan city(such as Busan, Daegu, Incheon, Gwangiu, Daejeon, Ulsan.) and Seoul. Analyzing period be formed over a 63 time points(2005.01.- 2010.03). We examined the data in relation to the employment number by occupational job, unemployment rate, monthly household income, preceding business composite index, consumer price index, composite stock price index. In looking at the factors which determine employment number by areas job, evidence was produced supporting the hypothesis that there is a significant negative relationship between unemployment rate and monthly household income the consumer price index. The consumer price index and composite stock price index are significant positive relationship, preceding business composite index is positive relationship, it are not significant variables in terms of employment number by areas job.

• Journal of Information Technology Applications and Management
• /
• v.23 no.2
• /
• pp.239-261
• /
• 2016

Wide use of smart and high performing mobile device makes consumers use diverse distribution channels, composed of online and offline channel. Smart companies are trying to deploy omni channel. In order to successfully integrate these diverse channels, it is necessary to understand consumers' preference of channel choice. Thus, this study was focused on the influencing factors of channel preference such as price sensitivity, consumer innovativeness, time pressure, and need-for-touch. And this study compared these influencing factors between Korea and China, and drew meaningful message for e-commerce companies and offline distribution companies.

• Journal of Society of Preventive Korean Medicine
• /
• v.11 no.2
• /
• pp.87-99
• /
• 2007

Background : Most traditional Korean doctors use "Packed Herbal Medicine", which is made from boiling various herbs together. However, the current insurance system doesn't cover the act of making packed herbal medicine. Therefore it is urgent for these doctors to study and find the best and most logical insurance program to cover the Packed Herbal Medicine system. Objectives : The purposes of this study were to investigate whether Announced System of Herb Price is proper for stability of medical herbs's price. Methods : This study made these following results by studying medical herbs's price of KOMD(The korea oriental medicine distribution company) from 2004 March to 2007 March The results are summarized as follows ; The 50 most frequently used herbs were chosen from the 831 standard prescriptions according to 26 pre-determined specific diseases. These prescriptions are considered the most important for this study and insurance purposes. fluctuations of fifty medical herbs which were used much about a predetermined list of 831 prescriptions are multiple function not linear equation. fluctuations of fifty medical herbs which were used much about a predetermined list of 831 prescriptions are different according to time. Therefore, to notify medical herbs's price is valid method for stability of medical herbs's price.

• Journal of Korean Society for Geospatial Information Science
• /
• v.11 no.4 s.27
• /
• pp.29-34
• /
• 2003

The purpose of this study is to present the price computation criteria with the aspect of price policy for the geographical information circulation. The price policy is to make activated circulation for geographical information. The price policy of this research considered the supplier and the user side at the same time. Important issue of price policy is that initial cost for system development calculate burying cost, and preservation and renewal cost charge to user. Distribution cost of geographical information charge to user according to use media, and apply differential rates of cost according to the purpose of using, up-to-dateness of data. Also, present the price policy that must apply copyright fee to of offer geographical information. Consider various terms that was studied in this study, the price computation criteria was presented. Through this, it is expected that geographical information circulation is activated more.

• International Journal of Computer Science & Network Security
• /
• v.21 no.2
• /
• pp.193-197
• /
• 2021

Customers are increasingly attracted towards different e-commerce websites and applications for the purchase of products significantly. This is the reason the sellers are moving to different internet based services to sell their products online. The growth of customers in this sector has resulted in the use of big data analytics to understand customers' behavior in predicting the demand of items. It uses a complex process of examining large amount of data to uncover hidden patterns in the information. It is established on the basis of finding correlation between various parameters that are recorded, understanding purchase patterns and applying statistical measures on collected data. This paper is a document of the bottom-up strategy used to manage the selling price of a first-time product for maximizing profit while selling it online. It summarizes how existing customers' expectations can be used to increase the sale of product and attract the attention of the new customer for buying the new product.