• New & Renewable Energy
• /
• v.18 no.3
• /
• pp.43-59
• /
• 2022

The green premium is the most important feature of Korea's RE100 system. Green premium has three characteristics. The first, the cost of implementation is lower than that of other means of implementation. The second, it is linked with the RPS system to keep the means of implementing the green premium low. Third, the funds raised by the green premium are used to supply renewable energy to compensate for the additionality that the green premium does not have. When the entire industrial sector's electricity consumption is converted to renewable energy, the implementation cost of the green premium is estimated to be 3,377.4 billion won, and the REC purchase is estimated to incur the implementation cost of 6,576.4 billion won, which is 3.5 trillion more than the green premium. It was analyzed that an additional implementation cost of KRW 100 million would occur. In addition, in the case of solar PPA, it was analyzed that additional implementation costs of KRW 13,375.7 billion to KRW 16,162.3 billion were incurred. It was estimated that the renewable energy that could be supplied to the green premium would at least be sufficient for companies exporting to the US and EU. In addition, it was analyzed that when the fund created as a green premium is used for renewable energy supply, about 30.7% of the renewable energy supply through PPA can be supplied. However, as ESG is emphasized, green premium can be criticized by green washing because there is no additionality. There is also a limit to responding to the EU's CBAM. Therefore, companies can use the green premium depending on the situation, but it is more advantageous to use PPA, etc. The government needs to sufficiently maintain the supply of renewable energy using the fund to maintain the green premium.

• Journal of Distribution Science
• /
• v.19 no.10
• /
• pp.23-33
• /
• 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.

• The Korean Society of Law and Medicine
• /
• v.15 no.2
• /
• pp.227-251
• /
• 2014

In current law, the premium medical treatment system gives patients the right of choice between normal medical treatment service and premium medical treatment service. Only the doctors having a career more than a certain period of time fixed in the law are eligible for providing the premium medical treatment service. So, the premium medical treatment system is highly related to the patients' right to know and the right of self-determination. The system is also relevant to the so-called 'economic explanation' notion because patients should pay additional fee when they want to use this system. Meanwhile, the situation as follows is problematic as to this system. Although a patient applied for using the premium medical treatment system and the patient also chose his or her own doctor specifically, another doctor who was not selected as premium doctor could make a medical accident. Then, is the another doctor liable for damages because the accident was a medical malpractice or a breach of medical contract? In this study, we are going to examine the problems related with the premium medical treatment system. First, we examine the current law related to the system. Second, we look into the economic explanation duty and its application to the premium medical treatment system. Finally, we examine a real judgment case about a medical practice against the premium medical treatment system and we propose our solution to this case.

• The International Journal of Costume Culture
• /
• v.2 no.1
• /
• pp.62-76
• /
• 1999

The objectives of this study are to investigate consumer experiences with premiums, consumer preferences in premiums offered for clothing and the effect of premiums on clothing purchasing behaviors. A self-administered questionnaire survey was conducted to 610 men and women from ages 15 to 59 living in the Seoul metropolitan area from February 25 to March 9, 1999 ; 548 were used for the data analysis. Data was analyzed by descriptive statistics, t-test, ANOVA, chi-square analysis and Duncan's multiple range tests. Significant differences were found among selected demographic groups in information sources used for premium offers, experiences of receiving premiums, purchasing experiences due to premium offers, preferences between discount and premiums, additional purchase intentions because of premiums, and the premiums'influences. The groups with purchase experiences or brand and stores selecting experiences due to premium, showed significant differences in premiums'influences and the satisfaction levels with premiums. Regarding preferences between discount and premiums, significant differences were found in and the satisfaction levels with premiums.

• The Korean Journal of Financial Studies
• /
• v.2 no.1
• /
• pp.127-144
• /
• 1995

Previous literature in financial economics documents the existence of a liquidity premium in expected returns, measured by the bid-ask spread. This study provides a more comprehensive test of the egect of liquidity on common stock returns by including trading volume as an additional liquidity measure. we find that trading volume is a relevant measure of liquidity, and affects expected returns even aher controlling for the effects of systematic risk, firm size, and the relative bid-ask spread. We also find that trading volume complements the bid-ask spread as a liquidity measure, and provides additional information about the liquidity premium. The liquidity effect emerges in non-January months as a volume effect, in addition to the spread effect in January documented by Eleswarapu and Reinganum(1993).

• The Korean Journal of Health Service Management
• /
• v.12 no.4
• /
• pp.59-72
• /
• 2018

Objectives : This study was performed to investigate health care system recognition and influential factors using the data from the "2017 Health Care Experience Survey". Methods : Data on 7,000 participants in the Health Care Experience Survey were drawn and statistically examined using a t-test, ANOVA, and multiple regression analysis. Results : First, the significant factors of health care service satisfaction were education, income, region, chronic diseases, unmet medical needs, satisfaction with doctors and institutions, and the health care system's reliability and importance. Second, the influential factors of willingness to pay additional health insurance premium were age, occupation, income, health status, chronic diseases, unmet medical needs, satisfaction with health care institutions, limit to utilization of medical services, necessity of health care reform, and the health care system's reliability, satisfaction, importance. Conclusions : Since the additional burden for improving the health care has been negative to the socially disadvantaged, there should be efforts to provide stable health care funding for financial stability of the health insurances by considering public opinions and reaching social consensus.

• The Korean Journal of Air & Space Law and Policy
• /
• v.6
• /
• pp.137-147
• /
• 1994

Clearly there are many legal arguments and criticisms surrounding the proposals for change in the Warsaw Convention and the need for a radical review. The question remains is unlimited liability the answer or should there be some other form of supplemental compensation and if so, what limits should be applicable. It does seem that the adopted limits of the Convention are seen by many as the first line of defence, which, dependent on political and cultural differences, the legal interpretation of contractual wording and the legal system globally have resulted in enormous differences in compensation paid whether or not the Convention limits were imposed. An example of this is in the United States, which highlights the significance of the problem in that domestic travellers without Convention Limits can, through the American legal system, obtain compensation in the multi-million dollar area for a death claim, whereas a passenger t1ying internationally would in the first instance be subject to Convention Limits. expensive legal action through litigation. To date, we can advise that insurers have not charged additional premium for unlimited liability coverage. Insurance rates as we have stated are hardening considerably. To date, average rate increases have been plus 56% for aircraft hull and plus 45% for liabilities. Insurers last year suffered global losses of around US $ 1.1 Billion against a premium income of US $ 800,000. The target premium income for 1993 is believed to be in the region of US $1.4 Billion.

• Asia Marketing Journal
• /
• v.17 no.1
• /
• pp.55-67
• /
• 2015

Despite the well-known predictive power of Dirichlet model on customer loyalty, deviations of share of category requirement (SCR) predicted by Dirichlet model from actual SCR have been repeatedly reported. It has been shown that these deviations can be systematically explained by some factors such as brand's market share, product positioning strategy, purchase volume and retail marketing mix strategies. Presuming that brand equity would be additional sources of these deviations, current study assesses the incremental predictive power of brand equity by using over 4,000 brand-level observations for the consumer packaged goods industry in the U.S. Our model estimations indicate that brands that exhibit higher brand equity enjoy excess loyalty, with the primary driver being volume premium, rather than price premium. Overall, our findings support the notion that idiosyncratic brand properties can explain excess behavioral loyalty, a notion that is in stark contrast with the Dirichlet view of the world: brand equity does not exist.

• Asia-Pacific Journal of Business
• /
• v.12 no.3
• /
• pp.379-396
• /
• 2021

Purpose - The purpose of this paper is to study the rational payoff from the standpoint of foreign investors and the government when the government issues GDP-linked bonds to foreign investors. Design/methodology/approach - In this paper, the prices of 12 types of GDP-linked bond structures, which are classified according to the calculation cycle of the rate of change of linked GDP, the currency issued, and whether options are embedded, were evaluated. The Fama-French 3-factor model and the GMM-SDF model are used in the asset pricing model, and domestic and overseas investors used different basis assets. Findings - The KRW premium for US investors is estimated to be 43bp on a quarterly basis and 30bp on an annual basis, respectively, meaning that when the government issues bonds in KRW, the interest rate paid to US investors will be reduced by 30bp to 160bp (annually converted). Using the Fama-French 3 factor model, the KRW premium is the risk premium for the US market beta, meaning that if US investors do not intend to invest in US market beta, it is advantageous to receive an additional interest rate by investing in USD-denominated GDP-linked bonds. Korea's GDP- linked bond give US investors diversified investment utility, so they are willing to incorporate Korean GDP-linked bonds even if -150bp of interest is deducted from the structure issued to Korean investors. And as a result of estimating the value of the option through the GDP-linked bond with options that provides a floor for guaranteeing the principal, the value of the option linked to the annual GDP issued in dollars was the lowest. Research implications or Originality - Issuing dollar-denominated GDP-linked bonds linked to annual GDP with the option of guaranteeing the principal by the government is a way to increase investment opportunities for US investors and achieve financial stability of the government.

• The Journal of the Convergence on Culture Technology
• /
• v.10 no.1
• /
• pp.253-259
• /
• 2024

From the consumer's perspective, eco-friendly consumption is still a topic that can cause various psychological discomforts, and psychological discomfort can lower the intention to consume eco-friendly products through negative consumer psychological mechanisms. This study analyzed the influence of psychological discomfort regarding eco-friendly consumption on people's willingness to pay additional prices for eco-friendly products. In addition, we examined the moderating effect of consumers' involvement in the product family in this relationship. As a result of a statistical analysis based on consumer response data obtained from an online survey conducted with 407 American consumers, the level of people's psychological discomfort with eco-friendly consumption is directly related to their willingness to pay additional prices for eco-friendly products. Although it did not have a significant effect, it was confirmed that the influence of psychological discomfort on willingness to pay premium price was significantly different depending on the consumer's level of involvement.