• Title/Summary/Keyword: market rate

Search Result 2,146, Processing Time 0.03 seconds

The Conversion Trend of Jeonsei to Monthly Rent Contracts and Its Major Characteristics: The Case of Three Gangnam Districts' APT Rental Market in Seoul (임대차 시장의 월세화와 주요 특성에 관한 연구: 서울시 강남 3구의 아파트 시장 사례)

  • Kim, Sang Jin;Jeong, Jun Ho;Seo, Kwang Chae
    • Journal of the Economic Geographical Society of Korea
    • /
    • v.18 no.3
    • /
    • pp.348-365
    • /
    • 2015
  • This study empirically analyzes the recent conversion trend of Jeonsei to monthly rental contracts in the APT rental market and its major characteristics for three Gangnam districts using the real transaction Jeonsei and monthly rent prices data over the period of 2010.12 to 2015.4. The results show that in terms of deposits and substitutability the conventional apartment is more efficient than those of the reconstruction apartment. Moreover, monthly rental contracts are closely related with the movement of short-term interest rates. Given the same type of apartment, the result drawn from the substitutability between Jeonsei and monthly rental contracts reveals that the monthly leasing contract with the lower rate of deposit tends to have the higher conversion rate of Jeonsei to monthly rent. Thus, an urgent measure should be taken that the burdens of tenants with monthly rent contracts could be alleviated according to the rate of deposits.

  • PDF

The Factors Determining on the Employment Rate of Men Aged 55~64 in 15 OECD Countries (OECD 15개국 중고령 남성의 취업률 결정요인)

  • Ji, Eun-Jeong
    • Korean Journal of Social Welfare
    • /
    • v.63 no.2
    • /
    • pp.233-260
    • /
    • 2011
  • This study intends to analyze the trend of employment rate of men aged 55~64 in 15 OECD countries from 1980 to 2005. Furthermore, this study means to examine the determinants of men aged 55~64 in 15 OECD countries to support the labor force participation among them. The analysis is based on the data of OECD, ILO and LIS. The analysis method is Arellano and Bond(1981)'s difference GMM which used instrumental variables by dynamic panel model which estimates state dependency of labor market participation and individual panel's heterogeneity. The main results from this analysis are summarized in three points. First, the employment rates of men aged 55~64 had decreased until the middle of the 1990s, while that has been increasing since 1995. Second, the sate dependency strongly worked in the employment rates of 55~64 men and positive period effect was observed for 1980~2005. This study cannot find the pull effect of public pension, while labor market push effect have negatively affected. Third, temporary work rates had contributed to increase the employment rate of men aged 55~64 for 1996~2005. The poverty has become the mechanism of the labor.

  • PDF

A Study for the Development of a Bid Price Rate Prediction Model (낙찰률 예측 모형에 관한 연구)

  • Choi, Bo-Seung;Kang, Hyun-Cheol;Han, Sang-Tae
    • Communications for Statistical Applications and Methods
    • /
    • v.18 no.1
    • /
    • pp.23-34
    • /
    • 2011
  • Property auctions have become a new method for real estate investment because the property auction market grows in tandem with the growth of the real estate market. This study focused on the statistical model for predicting bid price rates which is the main index for participants in the real estate auction market. For estimating the monthly bid price rate, we proposed a new method to make up for the mean of regions and terms as well as to reduce the prediction error using a decision tree analysis. We also proposed a linear regression model to predict a bid price rate for individual auction property. We applied the proposed model to apartment auction property and tried to predict the bid price rate as well as categorize individual auction property into an auction grade.

Empirical Study on Unit Bias under the Flat Rate Pricing in the Korean Mobile Telecommunication Market (이동통신시장에서의 단위편향 소비행태 발생에 관한 실증연구)

  • Lee, Sang-Woo;Jeong, Seon-Hwa;Lee, Hyeongjik
    • The Journal of Korean Institute of Communications and Information Sciences
    • /
    • v.41 no.2
    • /
    • pp.229-237
    • /
    • 2016
  • The purpose of this paper is to empirically identify whether unit bias exists or not under the flat rate pricing in the Korean mobile telecommunication market and to give the desirable form of pricing plans for minimizing this irrational behaviors. Our results show that with the flat rate pricing consumers tends to make more voice or data traffic over their optimal consumption level, meaning the existence of unit bias in the Korean mobile market. These results imply that under the current pricing plans subscribers may pay higher monthly fee than their optimal cost which maximizes their utility, for using the telecommunications service. Thus, policy makers need to consider adopting mobile operators' segmentation of the flat rate pricing plans for the reduction of subscribers' telecommunications costs and the improvement of consumer welfare.

Status of Aviation Part Market and PMA/EPA (부품승인(PMA/EPA) 제도와 항공부품시장 동향)

  • Jeong, Bong-Gu;Jin, Young-Kwon
    • Current Industrial and Technological Trends in Aerospace
    • /
    • v.7 no.2
    • /
    • pp.106-114
    • /
    • 2009
  • Until now, The Market of aviation parts had led by OEM(Original Equipment Manufacturer) parts because of aviation industry's nature required higher reliability and safety. But recently, The interest about PMA parts in aviation market is increasing continuously with various environmental changes, such as economic stagnation, oil price rise, development of the manufacture technique and newly rising market of Asia-Pacific region. Actually, after 2006, FAA PMA approval parts are increasing at a rate of around 40,000 parts per year and 2.5% of PMA parts penetration, in 2007, in Asia-Pacific market is forecast to enlarge up to 8% in 2017. So, this paper introduces the process requirements of FAA PMA / EASA EPA and the status of PMA market in order to enhance understanding for certification for aviation parts and to review a new PMA market.

  • PDF

Market Risk Premium in Korea: Analysis and Policy Implications (한국의 시장위험 프리미엄: 분석과 시사점)

  • Se-hoon Kwon;Sang-Buhm Hahn
    • Asia-Pacific Journal of Business
    • /
    • v.15 no.2
    • /
    • pp.71-88
    • /
    • 2024
  • Purpose - This study provides an overview of existing research and practices related to market risk premiums(MRP), and empirically estimates the MRP in Korea, particularly using the related option prices. We also seek to improve the current MRP practices and explore alternative solutions. Design/methodology/approach - We present the option price-based MRP estimation method, as proposed by Martin (2017), and implement it within the context of the Korean stock market. We then juxtapose these results with those derived from other methods, and compare the characteristics with those of the United States. Findings - We found that the lower limit of the MRP in the Korean stock market shows a much lower value compared to the US. There seems to be the possibility of a market crash, exchange rate volatility, or a lack of option trading data. We investigated the predictive power of the estimated values and discovered that the weighted average of the results of various methodologies using the Principal Component Analysis (PCA) is superior to the individual method's results. Research implications or Originality - It is required to explore various methods of estimating MRP that are suitable for the Korean stock market. In order to improve the estimation methodology based on option prices, it is necessary to develop the methods using the higher-order(third order or above) moments, or consider additional risk factors such as the possibility of a crash.

A Descriptive Study on the Job Information Service Market

  • Yoon, Jongwook
    • Journal of the Korea Society of Computer and Information
    • /
    • v.24 no.11
    • /
    • pp.143-152
    • /
    • 2019
  • In this study, the author seeks to identify the status of the online job information service market and present strategic guidelines to maintain the market ecosystem based on it. The research method was carried out as a descriptive study to identify the online job information service market by utilizing various secondary data. Specifically, the market analysis identified the high potential growth rate of the job information service market and key issues. Industry trend analysis analyzed key service features, job seeker types and features, service use trends, promotion and marketing methods. Finally, through SWOT analysis of the market, strategic guidelines were proposed to lead the market ecosystem into a virtuous circle. In the first place, these findings will help us gain a comprehensive view of the market by identifying the status of the job information service market with a focus on the main issues. It may also provide companies in the industry with the necessary clues to their continued survival within the industry. Furthermore, the government and public organizations are expected to contribute to boosting the job information service market with the aim of creating and improving jobs.

A Study on Stock Market Cycle and Investment Strategies (주식시장국면 예측과 투자전략에 대한 연구)

  • Kyoung-Woo Sohn;Ji-Yeong Chung
    • Asia-Pacific Journal of Business
    • /
    • v.13 no.4
    • /
    • pp.45-59
    • /
    • 2022
  • Purpose - This study investigates the performance of investment strategies incorporating estimated stock market cycle based on a lead-lag relationship between business cycle and stock market cycle, thereby deriving empirical implications on risk management. Design/methodology/approach - The data period ranges from June 1953 to September 2022 and de-trended short rate, term spread, credit spread, stock market volatility are considered as major input variables to estimate business cycle and stock market cycle by applying probit model. Based on the estimated stock market cycle, two types of strategies are constructed and their performance relative to the benchmark is empirically examined. Findings Two types of strategies based on stock market cycle are considered: The first strategy is to long(short) on stocks when stock market stage is expected to be an expansion(a recession), and the second one is to long on stocks(bonds) when expecting an expansion(a recession). The empirical results show that the strategies based on stock market cycle outperforms a simple buy and hold strategy in both in-sample and out-of-sample investigation. Also the out-of-sample evidence suggests that the second strategy which is in line with asset allocation is more profitable than the first one. Research implications or Originality The strategies considered in this study are based on the estimated stock market cycle which only depends on a few easily available financial variables, thereby making easier to establish such a strategy. It implies that investors enhance investment performance by constructing a relatively simple trading strategies if they set their position on stocks or choose which asset class to buy conditioning on stock market cycle.

An Analysis on the Determinants of Innovation -Medium Core Firms in Material and Component Industry- (부품소재 중핵기업의 기술혁신 결정요인 분석 -기업규모와 시장구조를 중심으로-)

  • Song, Chi-Ung
    • Journal of Korea Technology Innovation Society
    • /
    • v.10 no.3
    • /
    • pp.431-457
    • /
    • 2007
  • The main purpose of this study is to analyze the determinants of innovation in the medium core firms that belong to components and materials industry. For this purpose, we introduce the Schumpeterian hypothesis as a theoretical background at first. According to the Schumpeterian hypothesis, large firms in concentrated markets are likely to have more innovative activities. That means, firm site and market structure are the main determinant of innovation. Then, we propose other economic factors that have been considered to have effects on firms' innovative activities in previous studies. Those factors are export, profit, growth rate, R&D expenditure and capital intensity. In order to analyze the determinants of innovation, we estimate whether firm size, market structure, export, profit, growth rate, R&D expenditure and capital intensity affect to the possibility of creating innovation in medium core firms. In order to do this, our study uses survey data from 'Korean Innovation Survey(2005)' conducted by STEPI as well as utilizes the probit model as an analytical method. According to the empirical results, firm size has a positive relationship with innovative activities of medium core firms but market concentration does not. We find the negative correlation between market concentration and innovative activities in this study. Thus, was have to say that we do not fully support the Schumpeterian hypothesis in this case. Among other variables, profit and R&D expenditure are estimated to have positive relationship with innovative activities, while export and capital intensity are estimated to have negative relationship with innovative activities. In case of growth rate, we do not find any significant relationship with innovative activities. In conclusion, larger firm size, higher market competition, more access to the financial market and additional R&D investment would facilitate innovative activities of medium core firms. However, we have to review the relationship between export and innovative activities that has been estimated in this study. While the estimated effect of export on innovative activities can be explained by the own characteristics of medium core firms that produce and supply capital goods to final manufacturer, we have address this issue in the future.

  • PDF

Analysis of Socio-economic Effects of Land Consolidation and On-farm Development Project (경지정리사업(耕地整理事業)의 사회경제적효과분석(社會經濟的效果分析))

  • Lim, Jae Hwan;Kim, Jae Hong;Yeo, Soon Duck
    • Korean Journal of Agricultural Science
    • /
    • v.27 no.2
    • /
    • pp.158-175
    • /
    • 2000
  • Up to date, the economic feasibility analysis on land consolidation and on-farm development projects were mainly depended upon the direct benefits from market value of project outputs. Therefore the projects were neglected in allocation of the government's financial funds and loans on account of undervaluation of the project benefits including socio-economic and environmental values of the projects. Accordingly the Extended Benefit Cost Analysis Method should be adapted to cover not only the benefits such as non-market values of environmental functions of the projects and but also the economic market values of the project outputs. The main objectives of this study is (1) to provision of the guideline for economic feasibility analysis based on the IBRD and ADB guidelines, (2) to estimate the benefits such as Productivity increase effect, labor saving effect, off-farm income increase effect during off-farm season, saving of O&M cost of farm mechanization, enhance of farmer's public health, increase of environmental public function of paddy fields, effect of food security and establishment of peaceful and uncontroversial rural society by implementing the land consolidation and on-farm development, (3) to introduce the newly adapted analytical method as the extended benefit cost analysis which could make possible the analysis of non-market goods such as the food security value and the environmental public value of paddy fields. To carry out the study, the publication on the guideline for economic analysis of agricultural projects were reviewed and consulted and for the post evaluation of the land consolidation and on-farm development project, field survey in Jeongja area were made for the feasibility study of the project by new method. According to the initial project plan, Jeongja land consolidation and on-farm development project has 96ha of benefit area and the project was started in 1989 and completed in the spring, 1990. The total project costs were amounted to 1,052 million won and the annual project benefits were estimated at 135.4 million in 1989 constant market prices. On the other hand, the newly estimated project benefits as a part of post evaluation of the project were amounted to 602.1 million won including all the benefits from the market and non-market commodities of the project as mentioned above column. The original IRP(Internal rate of return) of the project was estimated at 15.81%. On the other hand, the IRR of the post evaluation of the project was amounted to 16.83%. In case of including the benefit from the environment public function of paddy field, the SRR(Social Rate of Return) was reached to 38.81% and when we added the benefit from food security of the project, the SRR showed very high rate as 46.41%. In conclusion, the project were verified socio-economically feasible and environmentally sustainable considering the above decision making criteria.

  • PDF