• 한국농촌건축학회논문집
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• 제13권4호
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• pp.43-50
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• 2011

Activation of conventional market in small town is important in the reinvigoration of local economy as an economical center. The revitalization of local economy is closely related to the fosterage of conventional market. So the local government is trying to activate the market. However, the projects for the activation of conventional market are mostly centered on the modernization of facilities which is carried out at urban districts. Those facilities-centered plans, being carried out at urban district, lack the consideration of the peculiarities of rural districts and the regional conditions of the conventional market in small towns. And some projects for the modernization of facilities produce negative results. Especially the conventional market in small town shows a spatial structure of a five-day market and a market place and it was influenced by the spatial relationship between the permanent market and periodic market. So analyses on the spatial lay-out and form, store facilities, spatial distribution of types of business, spatial utilization on market place are needed to improve the physical environment of the conventional market. In this context, the study analyzed systematically the space of an old and lagged Hongseong conventional market located in central district of a small town. And It is expected that the results use as a basic data to establish effective space improvement plan for conventional market in small town.

• 한국농촌건축학회논문집
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• 제10권2호
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• pp.27-36
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• 2008

This study is progressing or suggests effective space planning for rural village area conventional markets that is planning business market modernization process. Rural village area conventional markets of small scale are inputting a lot of efforts and financial resources for activation. Also, I wish to quote activation plan for rural village area conventional markets that face in stagnation. Studied spatial form and conventional market activation factors by space use special quality of rural village area conventional markets for architectural planning plan presentation. Investigated spatial change for several years that appear in Geum-wang conventional market for this. As a result, could deduce plans of space improvement plan for conventional market space positively. Also, through this study, suggest activation plan of conventional market that display similar space type including Geum-wang conventional market. Therefore, environment improvement of conventional market's type and special quality based on space activation elements and need space environment improvement plan the architecture plan in early planning phase of business.

• 한국농촌건축학회논문집
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• 제7권2호
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• pp.9-20
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• 2005

The conventional markets in small towns have showed a different trend, compared with those of urban district. As the conventional markets, which are located in urban districts, are being depressed, those in small towns are being activated by each local government. The activation of conventional market is being recognized as an important means for developing communities, and the project for fostering conventional market is being competitively carried out by each local government. The active center of conventional market is constituted centering on the central area of the market. However, in case of the small towns' conventional markets, it is known that the market site, which is secured at market day, heavily influences on the central area. Thus, in order that the small towns' conventional markets may be activated, securing territories of conventional markets and market site should be considered. Altogether, in order to activate the conventional markets, some conclusions were derived as follows: Expanding market site through improving the usability of space by territories, Controlling peddlers by territories and balancing business items, Amplifying the convenient facilities for users, Securing and improving the central area, Standardizing the facilities that were installed by stores and peddlers.

• 한국조경학회지
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• 제28권1호
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• pp.118-128
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• 2000

Based upon the cases of two conventional market places of Seoul (Chungryangri and Hwanghakdong Market0, this study seeks, in mainly the insiders's view, to find out the micro meaning of conventional market places in the city. In-depth interviews for longer than six months were used to get life histories and daily life records from the merchants. From the result of the in-depth interviews, it was found that, for the insider's view, conventional markets are places where lower class people (or people who leave their farm lands for a city) easily settle down, as shoed in the two families' settlement history in the two conventional markets are very much similar to those in their home places. In conclusion, as represented in these two markets, conventional market places are not only the places that provides jobs to their merchants but also the places where the merchants' lives are continued, developed and reproduced. Based upon the both outsider's and insider's views, it is suggested that the recent modernization and redevelopment process to deal with conventional markets should change its direction and search for other solutions.

• 경영과학
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• 제20권1호
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• pp.89-102
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• 2003

With the progress of Internet and e-commerce, there have been many researches on the market efficiency of the Internet markets using real price data. Contrary to the common expectations by many economists, most of the previous researches have fatted to prove that the Internet market is more efficient than the conventional market. This paper empirically analyzes the pricing behavior of Internet and conventional retailers in South Korea. We have collected real price data on CDs and TVs from various types of retailers, from which we have analyzed three aspects of pricing behavior : price level, price change over time, and price dispersion across the retailers. We have found that the average prices of CDs and TVs at the Internet retailers are lower than those at the conventional retailers. We have also found that there is a close association between the behaviors (e.g., magnitude and timing of changes) of TV prices at the Internet retailers and those at the conventional retailers. It has been observed that the range of the CD prices at the internet retailers is less than a half of the range at the conventional retailers, which can be considered as an evidence of a relatively stronger price competition at the Internet market compared with the conventional market.

• 한국농촌건축학회논문집
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• 제14권3호
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• pp.77-84
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• 2012

The Conventional market located in Yangyang, Gangwon is currently facing the crisis, so it needs a new strategy to break a slowdown. Nevertheless, the local residents are looking forward to activating Yangyang conventional markets. To this end, the associates shall utilize their advantages of Yangyang conventional markets to supply cheap and good quality to guests with differentiated strategies. The purpose of the study is to analyze Yangyang conventional markets with architectural aspect and to provide conventional markets in each region with alternatives for revitalization.

• 한국유통학회지:유통연구
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• 제16권5호
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• pp.63-84
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• 2011

현재 우리나라에는 약 1500여개의 재래시장이 있다. 이들 재래시장은 삼성과 롯데와 같은 대기업에 의해 운영되는 SSM과 할인점 등의 시장 진입으로 인해 경쟁이 치열해지고 있고 급변하는 유통환경의 변화에 따라 생존의 위협을 받고 있다. 또한 재래시장의 파워가 약해짐으로 인해 지역 상인들의 생존이 위협을 받고 있고, 지역 경제 또한 악화되고 있다. 따라서 백화점과 할인점을 선호하는 소비자들에게 보다 나은 가치를 제공해 주기 위해 재래 시장은 보다 시장지향적인 전략을 취해 나가야 할 것이다. 시장지향적 전략은 다음 세 가지 하부 개념으로 이루어진다. (Narver와 Slater,1990): 고객 지향성 (customer orientation), 경쟁지향성 (competitor orientation), 그리고 기능간 조정(inter-functional coordinations). 본연구의 첫 번째 목적은 지역 사회에서의 재래시장의 적절한 역할을 제안하는 것이다. 둘째는 재래시장이 지역에서 장기적으로 생존하기 위해 필요한 시장 지향적인 기능을 알아보고 자 한다. 마지막으로 본 연구는 다양한 지역사회와 다양한 상황에서 재래시장이 지향해야할 성공적인 재래시장 유형을 개발하기 위해 적절한 정책 방향을 제안하는 것이다. 이들 목적을 성취하기 위해 본 연구는 다음과 같은 구성으로 되어 있다. 우선 재래시장과 지역 경제 발전을 위한 기존의 연구보고서와 정책 보고서를 살펴보고 기존 정책의 장-단점을 제시하였다. 둘째로 재래시장의 시장지향적인 유형과 기준을 제시하였고, 지역 시장과 지역의 경제 상황 특성에 따라 재래시장의 기능과 발전 형태에 대해 제안하였다. 마지막으로 본연구의 공헌점과 미래 정책 개발에 있어서의 시사점 등을 토론 하였다. 특히 정책 개발 방향에 있어 본 연구는 정책의 효율성과 경제적 효과, 인력 개발과 운영 시스템, 그리고 이러한 개발과 정에서의 정부의 역할과 지역 상인의 보호 방안등에 대해서 중점적으로 논의를 하였다.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.117-126
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• 2020

This paper is aimed to explore the co-movement capital market in Southeast Asia and analysis the correlation of conventional and Islamic Index in the regional and global equity. This research become necessary to represent the risk on the capital market and measure market performance, as investor considers the volatility before investing. The time series daily data use from April 2012 to April 2020 both conventional and Islamic stock index in Malaysia and Indonesia. This paper examines the dynamics of conditional volatilities and correlations between those markets by using Multivariate Generalized Autoregressive Conditional Heteroscedasticity (MGARCH). Our result shows that conventional or composite index in Malaysia less volatile than Islamic, but on the other hand, both drive correlation movement. The other output captures that Islamic Index in Indonesian capital market more gradual volatilities than the Composite Index that tends to be low in risk so that investors intend to keep the shares. Generally, the result shows a correlation in each country for conventional and the Islamic index. However, Internationally Indonesia and Malaysia composite and Islamic is low correlated. Regionally Indonesia's indices movement looks to be more correlated and it's similar to Malaysian Capital Market counterparts. In the global market distress condition, the diversification portfolio between Indonesia and Malaysia does not give many benefits.

• The Journal of Asian Finance, Economics and Business
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• 제3권3호
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• pp.57-65
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• 2016

The purpose of this paper is to investigate the volatility of both Islamic and conventional stock market in Indonesia with the aim of identifying the most appropriate model for risk management practice. The study considers GARCH as a genre of model to measure the volatility of stock market movement. The results support the view that each model shows specific volatility from both Islamic and conventional stock market in Indonesia. In Islamic stock market, volatility is affected by exchange rate and money supply (M1) but not interest rate as interest is prohibited in Islam. However, interest rate is found as a principal factor that affects volatility of conventional stock market. The outcomes of this paper are of particular significance to policy makers, as it provides guidelines to maintain economic health. Furthermore, the findings may assist practitioners to understand the consequences of macroeconomic factors such as exchange rate, money supply and interest rate, which are very crucial for the market stability of Indonesian stock market. The paper enhances the understanding of stock market volatility and proposes guidelines risk management practices.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.515-521
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• 2021

The popularity of Islamic financial instruments among Muslims is not surprising. The Islamic capital market is where sharia-compliant financial assets are transacted. It works parallel to the conventional market and helps investors find sharia-compliant investment opportunities. At a time of collective confusion when the COVID-19 epidemic is contributing to unprecedented change, this paper is keen to understand how attractive conventional and Islamic stock markets have been to investors recently. Second, this paper takes advantage of the time-scale decomposition property of the wavelet to simultaneously capture risk exposure and distinguish the risks faced by short- and long-term investors. To this end, this research conducted a two-step investigation of the daily closing equity market price indices for three Islamic stock markets and their conventional counterparts. Given that different financial decisions occur with greater or less frequency, the paper examines the connectedness of stock markets operating at heterogeneous rates and identifies the timescales using wavelet-DCC-GARCH analysis to take account of both the time and the frequency domains of stock market connectedness. The paper findings highlight the strong evidence of contagion that can be seen in nearly all conventional stock markets in the COVID-19 pandemic; they reach a high level of dependency in such health crises. Furthermore, Islamic stock markets prove to be a rich ground for global diversification.