• Asia Marketing Journal
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• v.15 no.1
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• pp.43-55
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• 2013

Since movies are experience goods, consumers are easily influenced by other consumers' behavior. For moviegoers, box office rank is the most credible and easily accessible information. Many studies have found that the relationship between a movie's box office rank and its revenue departs from the Pareto distribution, and this phenomenon has been named "increasing returns to information." The primary objective of the current research is to apply the empirical model proposed by De Vany and Walls (1996) to the Korean movie market in order to examine whether the same phenomenon prevails in the Korean movie market. The other purpose of the present study is to provide managers with useful implications about the release timing of a movie by finding different curvatures that depend upon seasonality. The empirical test on the Korean movie market shows similar results as prior studies conducted on the U.S., Hong Kong, and U.K. movie markets. The phenomenon of increasing returns is generated by information transmission among consumers, which makes some movies become blockbusters and others bombs. The proposed model can also be interpreted in such a way that a change in the rank has a nonlinear effect on the movie's performance. If a movie climbs up the chart, it would be rewarded more than its proportion. On the other hand, if a movie falls down in the ranks, its performance would drop rapidly. The research result also indicates that the phenomenon of increasing returns occurs differently depending on when the movies are released. Since the tendency of the increasing returns to information is stronger during the peak seasons, movie marketers should decide upon the release timing of a movie based on its competitiveness. If a movie has substantial potential to incur positive word-of-mouth, it would be more reasonable to release the movie during the peak season to enjoy increasing returns. Otherwise, a movie should be released during the low season to minimize the risk of being dropped from the chart.

• East Asian Economic Review
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• v.22 no.1
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• pp.75-114
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• 2018

A two-part model is estimated to see if increasing returns and comparative advantage are empirically equivalent in explaining intra-industry trade. The model has separate mechanisms for determining the occurrence and the extent of intra-industry trade. Estimation is based on an augmented Grubel-Lloyd index derived from the data set on SITC 7 goods at the 3-digit SITC (Revision 4) for country pairs in which Korea is fixed as a source country. Estimation results show that both increasing returns and comparative advantage can explain the occurrence and the extent of intra-industry trade.

• Journal of Korea Water Resources Association
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• v.42 no.4
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• pp.355-363
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• 2009

The purpose of this paper is to investigate the influence of noise on chaotic time series. We used two time series of Lorenz system and of Great Salt Lake's volume data which are well known as chaotic systems. This study investigated the attractors, correlation dimensions, and Close Returns Plots and Close Returns Histograms of two time series to investigate the influence of noise as increasing noise level. We performed Chi-square test to the relative frequency of Close Returns Histogram from Close Returns Plot for the investigation of stochastic process of chaotic time series as increasing noise level of time series. As the results, two time series were changed from chaotic to stochastic series as noise level is increased. Finally, we analyzed the effect of noise cancellation by using Simple Moving Average method. The results of applications of Simple Moving Average method to Lorenz and GSL time series showed that we could effectively cancel the noise. Then we could confirm the applicability of Simple Moving Average method to cancel the noise for the hydrologic time series having chaotic characteristics.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.325-332
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• 2022

This research aims to examine and assess how management methods, financial conditions, and corporate governance strategies affect stock returns. This study employs a quantitative approach with a population of 1968 firms with stock returns (return) and a sample of 225 companies with corporate governance practices in the manufacturing industry in Indonesia from 2013 to 2018. The findings of this study show that strategic management has a significant impact on stock return, financial condition, and corporate governance strategy. The findings of this study on debt strategy as a proxy for management strategy, debt default as a proxy for economic conditions, corporate governance strategy as a proxy for centralized ownership, and independent commissioners function as a mechanism of internal and external control in increasing stock return for investors all support increasing stock return for investors. The cost reduction strategy includes reducing operating costs unless the audit committee has not yet functioned as an internal control or requirement for a company to be listed with the Financial Services Authority on the Indonesia Stock Exchange.

• Fashion & Textile Research Journal
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• v.25 no.3
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• pp.280-290
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• 2023

As consumers are increasingly shopping online for fashion products, their return behavior is also increasing. Regarding the factors affecting return behavior, this study explores the effect of the purchasing orientation considering returns that are derived from bracketing purchase behavior, monetary lenient return policies, and non-monetary lenient return policies. Additionally, this study examines the effect of monetary/non-monetary lenient return policies on return behavior, mediated by the purchasing orientation considering returns. This study was conducted through an online survey and 238 data were collected and used for analysis. Two research models were designed for each independent variable of monetary lenient return policies, and non-monetary lenient return policies, and the path of the research model was analyzed using Process Macro 4.0. The study found that the sub-dimensions of return policy - monetary or non-monetary return policies - had different effects on return behavior through purchasing orientation considering returns. Monetary lenient return policies had a positive direct effect on return behavior, and purchasing orientation considering returns mediated the effect of the monetary lenient return policies on return behavior. However, the non-monetary lenient return policies only positively and significantly directly affected return behavior. The findings of this study contribute to understanding consumers' purchasing orientation considering returns. Furthermore, from the effect of the return policy on return behavior, the results are valuable as they can help fashion marketers establish a return strategy.

• Asia pacific journal of information systems
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• v.9 no.3
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• pp.93-110
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• 1999

The previous studies regarding the stock returns have advocated that industry effects exist over entire industry. As the industry categories are more rigid, the demand for predicting the industry sectors is rapidly increasing. The advances in Artificial Intelligence and Neural Networks suggest the feasibility of a valuable computational model for stock returns prediction. We propose a sector-factor model for predicting the return on industry stock index using neural networks. As a substitute for the traditional models, neural network model may be more accurate and effective alternative when the dynamics between the underlying industry features are not well known or when the industry specific asset pricing equation cannot be solved analytically. To assess the potential value of neural network model, we simulate the resulting network and show that the proposed model can be used successfully for banks and general construction industry. For comparison, we estimate models using traditional statistical method of multiple regression. To illustrate the practical relevance of neural network model, we apply it to the predictions of two industry stock indexes from 1980 to 1995.

• Asia-Pacific Journal of Business
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• v.5 no.1
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• pp.1-11
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• 2014

The study provides new empirical evidence on the level of profit efficiency and returns to scale of the Bangladesh banking sector. We employ the Slack-Based Data Envelopment Analysis (SBM-DEA) method to assess the level of profit efficiency of individual banks over the years 2004 to 2011. The empirical findings indicate that the Bangladesh banking sector has exhibited the highest and lowest level of profit efficiency during years 2004 and 2011 respectively. We find that only eight banks have been profit efficient throughout the period under study. The empirical findings seem to suggest that most of the Bangladesh banks have been experiencing economies of scale due to being at less than the optimum size, or diseconomies of scale due to being at more than the optimum size. Thus, decreasing or increasing the scale of production could result in cost savings or efficiencies.

• Journal of Korea Port Economic Association
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• v.26 no.1
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• pp.1-19
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• 2010

This paper focuses measuring the efficiency of container yards on container terminals in Busan (Gasungdae, Shinsundae, Gamman, New Gamman, Uam, Gamchon, PNC) and Gwangyang(GICT, KEC, Dongbu, KIT) using Data Envelopment Analysis(DEA) approach. Container terminals in Busan and Gwangyang play an important role in the region's economic development. The results show that Shinsundae was an efficient DMU during the period of 2007 to 2009, while Gamman, New Gamman and PNC were efficient terminals in 2009. The very inefficient terminals were shown to be GICT, KEC, Dongbu and KIT. GICT(2009), KEC(2009), Dongbu(2008-2009), KIT(2009) on Gwangyang Port were found to be relatively the inefficient terminals in terms of the returns to scale. This study also finds that the efficiency of Shinsundae terminal was so high as to be abel to keep its efficiency in spite of the additional increase of the inputs from 2007 to 2009. Gamman terminal was in the decreasing returns to scale in 2009, while the other terminals were in the increasing returns to scale. It means that we are able to improve the efficiency of the Gamman terminal with increasing returns to scale through enlarging the scale.

• Korean Journal of Organic Agriculture
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• v.29 no.1
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• pp.41-50
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• 2021

This paper analyzes the efficiency of social enterprises by analyzing bootstrapping data envelopment analysis. Unlike the definitive DEA model, we analyze the confidence intervals of efficiency estimates through the DEA model, which takes into account stochastic factors. Major analysis results are summarized as follows: First, the results of the bootstrapping DEA analysis of social enterprises estimated that the technical efficiency was 0.459 and the 95% confidence interval was 0.389 to 0.601. Second, the number of inefficient social enterprises with efficiency values of less than 0.5 was found to be 15 (55.56%) in technical efficiency, 5 (18.52%) in pure technical efficiency, and 8 (29.63%) in scale efficiency. It can be seen that a significant number of social enterprises are operating in an inefficient state. Third, looking at the returns of scale of social enterprises, 25 (67.57%) are currently in the increasing returns of scale, 10 (27.02%) are in the constant returns of scale, and 2 (5.41%) are in decreasing returns of scale. In other words, it can be seen that social enterprises are under-invested in terms of input factors.

• Journal of Korea Technology Innovation Society
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• v.10 no.1
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• pp.47-72
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• 2007

Ideas do not become exhausted, and there are no diminishing returns in the creation of knowledge. Nonetheless, growth ultimately ceases in this simplest model of endogeneous innovation. The reasons are similar to those that are discussed in the context of the neoclassical model of capital accumulation. Even if the resource cost of creating new goods does not rise, the economic return to invention may decline as the number of available products increases. When the rate of return to R&D falls to the level of the discount rate, private agents cease to be willing to defer consumption in order to invest in product development. But, if we treat knowledge capital as a public capital considering of its non-appropriable benefits, economic growth can be sustained in the economy. Romer(1986) has pointed out that growth might be sustainable if the accumulation of knowledge is not subject to long-run diminishing returns. Actually Romer assumed diminishing returns in the production of private knowledge from available resources, but increasing returns in the production of output from labor and total (public and private) knowledge. His condition for the sustainability of long-run growth amounts to an assumption that the diminishing returns in the former activity do not outweigh the increasing returns in the latter. The Johansen(1988) cointegration test method is used for finding long-run equilibrium relationship between R&D input and the product innovation. Test results indicate the existence of cointegrating equation between each pair of regression variables including dependent variable in the knowledge production function. And, the signs of cointegrating vectors are well accord to the prediction of sustainable growth. In the empirical analysis, from all cases of the form for the knowledge production function, we could not reject the null hypothesis that R&D spillover effect is significant($H_{0}:\;{\gamma}=1$). In summary, we showed that considering goodness of fit of regression model, we can see that the empirical evidence is strongly in favor of the character of knowledge as the public knowledge capital. So, we can expect that by product innovation, economic growth can be sustained in the Korean economy.