• Asian-Australasian Journal of Animal Sciences
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• v.23 no.7
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• pp.848-854
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• 2010

The objectives of this study were to estimate genetic parameters for the carcass price and carcass traits contributing to carcass grading and to investigate the influence of each carcass trait on the carcass price using multiple regression and path analyses. Data for carcass traits and carcass prices were collected from March 2003 to January 2009 on steers of Korean cattle raised at private farms. The analytical mixed animal model, including slaughter house-year-month combination, linear and quadratic slaughter age as fixed effects and random animal and residual effects, was used to estimate genetic parameters. The effects of carcass traits on the carcass price were evaluated by applying multiple regression analyses. Heritability estimates of carcass traits were $0.20{\pm}0.08$ for carcass weight (CWT), $0.33{\pm}0.10$ for back fat thickness (BFT), $0.07{\pm}0.05$ for eye-muscle area (EMA) and $0.25{\pm}0.10$ for marbling score (MS), and those of carcass prices were $0.21{\pm}0.10$ for auction price per 1 kg of carcass weight (AP) and $0.13{\pm}0.07$ for total price (CP). Genetic correlation coefficients of AP with CWT and MS were $-0.35{\pm}0.29$ and $0.99{\pm}0.04$, respectively, and those of CP with CWT and MS were $0.59{\pm}0.22$ and $0.39{\pm}0.29$ respectively. If an appropriate adjustment for temporal economic value is available, the moderate heritability estimates of AP and CP might suggest their potential use as the breeding objectives for improving the gross incomes of beef cattle farms. The large genetic correlation estimates of carcass price variables with CWT and MS implied that simultaneous selection for both CWT and MS would be also useful in enhancing income.

• Journal of the Korean Society of Clothing and Textiles
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• v.22 no.7
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• pp.851-861
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• 1998

The present study examined the consumer's evaluations of apparel quality and price, and the brand recognition according to the consumer's decision making styles(quality-conscious, brand-conscious, and price-conscious consumers). The two hundred and three subjects were asked to evaluate the quality and price of the two almost identical experimental blouses except for brand labels. One was the national brand, Keith and the other was the private brand, Ivy house. Also, the subjects were asked to answer if they recognize these two brands. The data were collected by self-administered questionnaire and were analyzed by frequency, percentage, one-way ANOVA, two-way ANOVA, and factor analysis. The results of the study were as floows: (1) Examining the perceptions of product qualities, generally speaking, all three types of the consumers evaluated the national brand's qualities more highly than those of the private brand. However, in-part, the price-conscious consumers evaluated some product charac-teristics more highly than those of national brand: touch of fabric, sewing, and the hemline finishing. (2) Investigating the perceptions of product prices, All three types of the consumers evaluated the price of the national brand more highly than that of the private brand. Among those, the price-conscious consumers recognized the price of the national brands most expensively. (3) Identifying the brand recognition of the two brands, the brand-conscious consumers showed the highest brand recognition and the price-conscious consumers showed the lowest brand recognition in both national and private brands, 51.9% of the total respondents identified the private brand showing comparatively high brand recognition. (4) Examining the relationship between the demographic factors and the consumer decision making styles, the monthly household income was statistically significant. Namely, 71.4% of the brand-conscious consumers have the monthly household income of 3,000,000 Won or higher which means that the higher monthly household income, the higher tendency to be brand-conscious consumers.

• East Asian Economic Review
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• v.17 no.2
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• pp.161-206
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• 2013

Since the global financial crisis in 2008, the world economy has been suffering from the Great Recession characterized by high and persistent unemployment as well as drastic fall in asset prices. Real business cycle theory or new-Keynesian economics which has been the dominant paradigm in macroeconomics for the last four decades is unable to explain the high and persistent unemployment during the Great Recession. This implies that the economics of Keynes should be taken seriously again as a tool to explain the Great Recession. Farmer (2012) proposes a new way of interpreting the economics of Keynes by providing it with a solid micro-foundation based on labor markets with search. According to Farmer (2012), aggregate economic activity independently depends on the long-term self-fulfilling expectations about the stock prices. As a consequence, the government or the central bank should implement a policy that influences the public's confidence about the stock market. For an open economy like the Korean economy, it is not only stock price but also the price of asset such as house that matters more for the aggregate economic activity. Households in the Korean economy hold more than 70 percent of their wealth in the form of real estate asset, especially housing asset. This makes the public's confidence about the future prices of houses even more important in explaining the business cycles of the Korean economy. Policymakers should implement policies to improve the confidence of households about the housing market to recover from the recession caused by a fall in house prices. Little theoretical work has been done in explaining fluctuations in the aggregate economic activity from the point of house prices. This paper develops a small open economy model with traded and non-traded capital based on Farmer (2012) and shows that the aggregate economic activity also independently depends on the households' self-fulfilling expectations about the future prices of non-traded asset such as houses.

• Journal of the Korean Society of Costume
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• v.36
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• pp.25-41
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• 1998

The purpose of this research was to study four impulse buying dimensions and planned buying, marketing stimulus factors in store, buying im-pulse and impulse buying of female consumer. The female consumers were divided into three groups, i.e., college students, housewives and workingwomen. 408 women living in Kyung Nam were selected as respondents by convenience sampling methods. The results of this research can be summarized as follows. 1. The overall impulses were stronger for college students and workingwomen than house-wives. The impulse buying dimensions were different according to the status of women. 2. Buying impulse and impulse buying of clothing were more likely to be for college students and working women than housewives. 3. The display in the store gave the information to the three groups equally. These infor-mations helped to make the impulse buying. 4. The marketing stimulus factors were different according to the status of respondents. Sensitive and aesthetic factors were important for college students and workingwomen, and the utility of clothing were important for house-wives. The color of clothing, the discount of regular price and the low price had the same meanings to the three groups. 5. Impulse buying dimensions were effected by the marketing stimulus factors. 6. The fashionable products, the use of credit card, famous brand, gracious display of clothing and the kind services of salesman were the common factors that stimulate the consumer to buy the clothings. But the color and design of products had more effect on the college students, and the discount of regular price and the utility of clothing were more important for the workingwomen. The color and the utility of clothing were stimulus factors for the housewives.

• Journal of Family Resource Management and Policy Review
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• v.2 no.2
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• pp.135-145
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• 1998

The purpose of this study was to examine how much the cost of marriage ceremony has increased according to the economic growth. The relationship between marriage expenditures and other comparison variables such as per capital GNP, monthly income, consumer price index was particularly examined. All the money values were adjusted by consumer price index. Data from the Central Committee for Promotion of Saving were used in this study. The results of this study follow. First, nominal and actual total outlay of marriage ceremony has continuously increased. Total marriage ceremony cost was positively correlated with the housing price so that bridegroom’s outlay were greater than that of bride’s one since bridegroom was more likely to have the responsibility for the price of new couple’s house. Second, it was found that increased percentage rate of marriage ceremony cost was greater than that of national economic growth. The total marriage expenditure was about 10 times as much per capital income in 1990. Third, it was revealed that housing cost increased three times from 1990 to 1995, and marriage ceremony expense was accordingly increased twice during the same periods. Such trends tend to increase continuously. Last, the marriage cost percentage to monthly income called marriage expenditure share increased by 1990 and then decreased. Such a decreasing trend can be explained by the increased amount of income partly due to the higher wage rate compared to other conditions since 1990.

• Korean Journal of Construction Engineering and Management
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• v.22 no.1
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• pp.27-35
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• 2021

The study intends to identify the effects of infrastructure property on an apartment house by analyzing the price variation affected by factors constituting the quality of the transit services of each individual station in urban railway system based on hedonic price model. The research findings indicate that the prices depending on the transit users have increased from 7.8% to 12.2% in Seoul and decreased from 6.1% to 12.9% in Gyeonggi, which implies that a lower number of transfer users has a positive effect on housing prices in Seoul unlike Gyeonggi. It also is noteworthy that the distance to the urban railway station had a negative effect on housing prices in Seoul and positive effect in Gyeonggi. Taking these results together, in Seoul, the increase in the number of transit users had a negative effect on neighborhood housing prices. When analyzed by segments, however, an additional negative effect was observed only in the apartments located within the radius of 100 meters. It is also found that the impact of transit users varies according to the regional characteristics, such as the density of commercial facilities and the population density, and the spatial extent of negative effect also showed regional differences. These results provide implications for the planning of new stations, new cities, and land use of existing areas around stations.

• Journal of the Korea Convergence Society
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• v.10 no.3
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• pp.193-201
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• 2019

The public's interest regarding multi-household houses, one of the small-scale housings used as profit earning property, has been increasing. Previous studies regarding price, such as the rent and sales price of multi-household houses', however, were difficult to find. Thus, this study set forth to find out what characteristics influence the sales price of multi-household houses so as to provide further suggestions to investors' decision makings and developers' strategy establishments. The data was retrieved from multi-household sales transacted in Changwon City. Through empirical analysis, this paper found that prices were high in Euichang-gu and Seongsan-gu, and meaningful variables in terms of locations were distance from major trade areas(-), distance from main streets(-), and Corner site(+). Meaningful variables related to household characteristics were total floor area(+), Studio type(+), Southern exposure(+), Building age(-), and Full-furnished(+).

• The Journal of the Convergence on Culture Technology
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• v.9 no.3
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• pp.281-286
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• 2023

This study analyzed the causal relationship between housing sales prices and jeonse prices in Seoul, specifically in the Gangnam and Gangbuk neighborhoods. The time-invariant Granger causality test showed bidirectional causality between the sales price and the jeonse price in Seoul and Gangbuk, but no bidirectional causality was found in Gangnam. However, the time-varying Granger causality test showed a Granger causal relationship between the housing jeonse price and the sales price for the entire period after 1993 in all three areas. Notably, the causal effect of jeonse prices on sales prices has been continuous in Gangnam since 2010. These analysis results suggest that an increase in liquidity supply to the jeonse market could increase volatility throughout the housing market, given the strong influence between the sales and jeonse markets in both directions.

• Land and Housing Review
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• v.4 no.1
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• pp.43-54
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• 2013

This This paper investigates the variation of the factors to determinate housing price in Seoul metropolitan area after sub-prime financial crisis, in Korea, using a VAR model. The model includes housing price and housing rent (Jeonse) in Seoul metropolitan area from 1999 to 2011, and uses interest rate, real GDP, KOSPI, Producer Price Index and practices to impulse response and variance decomposition analysis to grasp the dynamic relation between a variable of macro economy and and a variable of housing price. Data is classified to 2 groups before and after the 3rd quater of 2008, when sub-prime crisis occurred; one is from the 1st quater of 1999 to the 3rd quater of 2008, and the other is from the 2nd quater of 1999 and the 4th quater of 2011. As a result, comparing before and after sub-prime crisis, housing price is more influenced by its own variation or Jeonse price's variation instead of interest rate and KOSPI. Both before and after sub-prime financial crisis, Jeonse price is also influenced by its own variation and housing price. While after sub-prime financial crisis, influences of Producer Price Index, KOSPI and interest rate were weakened, influence of real GDP is expanded. As housing price and housing rent are more influenced by real economy factors such as GDP, its own variation than before sub-prime financial crisis, the recent trend that the house prices is declined is difficult to be converted, considering domestic economic recession and uncertainty, continued by Europe financial crisis. In the future to activate the housing business, it ia necessary to promote purchasing power rather than relaxation of financial and supply regulation.

• Journal of the Korea Institute of Building Construction
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• v.8 no.3
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• pp.51-58
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• 2008

The paradigm shift in housing market has changed consumers' interests to the cost of housing, it is the mos important factor considered in purchasing house recently. In this study, some factors influencing on the cost o: housing and some preference factors considered in purchasing house are analyzed. The AHP(Analytic Hierarchy Process) is used to analyze preference factors. The results of this study can be used as a decision maker in the initial planning stage of construction industry.