• 제목/요약/키워드: specific markets

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미술경영의 범위와 확장에 관한 연구 - 국제미술시장을 중심으로 - (A Study on the Scope and Expansion of Arts Management - Centering on International Art Markets -)

  • 정인서
    • 국제지역연구
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    • 제13권2호
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    • pp.712-739
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    • 2009
  • 본 연구는 예술경영의 한 영역으로 다루어졌던 미술경영의 범위에 대한 다양한 견해를 경영학적 시각에서 문헌고찰과 통계자료를 근거로 정리하였다. 공연예술 분야의 예술경영은 경영학적인 조직관리, 인력관리, 마케팅, 재무관리 등을 접목할 수 있는 영역이다. 그러나 미술경영은 경영이론의 파생적 관점에서 접근할 수 있는 분야가 있는 반면 미술이라는 특수한 학문영역에 대한 접근이라는 관점에서 새로운 시각이 요청되는 분야이다. 미술은 미술작품의 미학적 관점과 미학사적인 해석이 필요한 전문영역이 포함되기 때문이다. 이와 함께 지난 10여년 사이에 미술시장의 개방과 활발한 국제교류가 이루어지고 있어 미국과 유럽, 중국 등의 주요 국제미술시장에 대한 경영전략적인 접근이 필요하다. 이러한 국제미술시장은 국제경매시장, 국제비엔날레, 국제아트페어, 화랑의 해외진출 등과 관련하여 첫째, 국내 작가의 스타작가 양성과 같은 전략적 접근이 필요하다. 둘째, 비엔날레와 아트페어를 비롯하여 세계 유명 박물관이나 미술관의 작품에 대한 대규모 블록버스터 전시기획력이 요청된다. 국제미술시장에 대한 경영전략적인 접근은 바로 국가의 문화경쟁력을 높여주며 국가이미지 제고와 다른 산업에까지 영향을 미칠 것이기 때문이다.

Audit Quality and Stock Price Synchronicity: Evidence from Emerging Stock Markets

  • ALMAHARMEH, Mohammad I.;SHEHADEH, Ali A.;ISKANDRANI, Majd;SALEH, Mohammad H.
    • The Journal of Asian Finance, Economics and Business
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    • 제8권3호
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    • pp.833-843
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    • 2021
  • This research examines the impact of audit quality on the extent to which firm-specific information is integrated with a firm's share price - which is determined inversely using stock price synchronicity. The study sample consists of non-financial companies listed on the Amman Stock Exchange i.e., the Jordanian Stock Market, from 2014-2018. After examining 810 firm-year observations from Jordanian industrial companies listed on the ASE, during the study period, we find that the companies using one of the BIG4 audit firms for auditing have less synchronous and more informative stock prices, suggesting high-quality audit improved governance and reduce information asymmetry between firms' insiders and investors which enhances the capitalization of firm's specific information into the stock price, thus less synchronous and more informative stock return. The findings remain consistent over 2 separate measurements of stock price synchronicity (Market and Industry model and Market Model) and show robustness for fixed effect tests. Our multivariate regression results are also robust after controlling for a number of features at the firm level with potential associations with stock price synchronicity. These include the firm size, leverage, return on assets (ROA), and market to book value (MBV).

한국기업의 대EU 직접투자전략 (The Strategy of Korean Firms' FDI into European Union)

  • 방호열
    • 통상정보연구
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    • 제11권4호
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    • pp.77-109
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    • 2009
  • The purpose of this study is to review the current trend of FDIs by Korean companies into EU, and to present the optimal strategies for them to combine their firm-specific factors and FDI attractiveness of the regions in EU. The companies are divided into two categories, SMEs and large enterprises. The regions of EU are composed of 15 incumbent members before the fifth enlargement in 2004 and 12 new members. Large Korean companies tend to make large investments in 15 incumbent members with stable and mature markets. Korean SMEs, by contrast, mainly invest on small scales in the new members due to the lack of their available inner resources and knowledge for the markets. The main objects of the investments in EU by the large Korean companies are to gain more market share and to acquire the advanced technologies. Although such goals are also important for the SMEs, the most important objects for the investments by Korean SMEs in EU are usually to enter EU markets and to take advantage of the relatively cheap labor forces for the efficient operations. The effects of such passive strategies by the SMEs, however, are expected to extinct because the cost advantages in regions of the new EU members will not last in the long term, so the SMEs must take longer views for the choice of locations. Many empirical results suggest that the optimal FDI strategies for the Korean companies in EU could be worked mainly by more aggressive localization policy of companies and by the cooperations of SMEs and large enterprises for the reduction in costs of foreignness.

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문화를 이용한 전통시장 활성화 방안(부산 남항시장을 중심으로) (The Study on the Revitalization of Traditional Market through the Use of Cultural Properties(Focused on Namhang Market in Busan))

  • 김혜진
    • 한국콘텐츠학회논문지
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    • 제14권10호
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    • pp.73-86
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    • 2014
  • 서민들의 삶을 대변하는 전통시장이 오랫동안 소매유통의 중추적 역할을 담당하였으나 생활패턴의 변화와 대형 유통 상권에 능동적으로 대처하지 못해 경쟁력 저하로 침체를 겪고 있다. 최근 전통시장 활성화를 위한 노력이 활발히 전개되고 있는데 사회문화적 기능을 갖고 있는 시장의 경쟁력과 문화를 이용한 활성화 필요성에 대하여 연구하였다. 부산의 남항시장의 사례를 분석하여 하드웨어, 소프트웨어, 휴먼웨어, 공동사업으로 나누어 구체적인 활성화 방안을 제안하였다.

Lagged Effects of R&D Investment on Corporate Market Value: Evidence from Manufacturing Firms Listed in Chinese Stock Markets

  • LEE, Jung Wan
    • The Journal of Asian Finance, Economics and Business
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    • 제7권8호
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    • pp.69-76
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    • 2020
  • The study examines lagged economic effects of research and development (R&D) investment on the market value of manufacturing firms listed on the Shanghai Stock Exchange or the Shenzhen Stock Exchange in China. This study applies panel data analysis methods to address the following issues: 1) There might be an adjustment lag in the impact of R&D investment on corporate market value, and 2) Unobserved firm effects must be taken into account. The balanced panel data includes a total of 1,462 observations with 34 cross-sections of manufacturing firms listed on Chinese stock markets and with 27 time-specific quarterly periods from 2007 to 2017. The results indicate that the R&D investment of Chinese manufacturing firms tends to yield favorable market value of the firm with some adjustments to time. The results show that R&D investment exhibits a strong positive impact on their market value of manufacturing firms in Chinese stock markets. Moreover, R&D investment has a positive time-lag effect on the market value of the firm. Interestingly, the R&D investment of Chinese manufacturing firms generate a relatively constant positive effect on their market value, supporting the notion that the corresponding returns of R&D investment for such firms yield lagged but added market values.

THE CAUSES OF BAD PROFIT IN OVERSEAS CONSTRUCTION PROJECTS

  • Seung Heon Han;Du Yon Kim;Sang Hyuk Park
    • 국제학술발표논문집
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    • The 1th International Conference on Construction Engineering and Project Management
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    • pp.1237-1243
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    • 2005
  • International construction projects are exposed to various and complicated risk factors stemming from different political, economical, social, and cultural backgrounds, which make contractors entering into international construction to experience severe losses. It implies that overseas markets do not necessarily secure the high return, which is typically expected to in the high risky attempts. Accordingly, contractors need to evaluate various risk factors faced with overseas construction projects that can possibly aggravate the profitability. This paper aims at establishing a valid groundwork for further research on developing the integrated risk management model. For this end, it analyzes the long-term trend of profitability on total of 3,487 projects performed by Korean global contractors in world-wide construction markets during the last four decades. Then, it investigates the possible factors/causes of bad profit that have affected the profitability significantly through the structured surveys of 90 real overseas projects based on the project-specific information and experiences of Korean contractors in overseas markets. Furthermore, it analyzes relative importance of these factors/causes and identifies the important features expected for the risk management of international construction projects. Finally, vital distinctions between success and failure projects and lessons learned to improve profitability are then distilled.

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극단치 분포와 Copula함수를 이용한 주식시장간 극단적 의존관계 분석 (The Analysis of Tail Dependence Between stock Markets Using Extreme Value Theory and Copula Function)

  • 김용현;배석주
    • 대한산업공학회지
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    • 제33권4호
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    • pp.410-418
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    • 2007
  • This article suggests the methods to investigate adverse movement across global stock markets arising from insolvency of subprime mortgage in U.S. Our application deals with asymptotic tail dependence of daily stock index returns (KOSPI, DJIA, Shanghai Composite) of three countries; Korea, U.S., and China, over specific period via extreme value theory and copula functions. Daily stock index returns among three countries show higher extremal dependence during the period exposed to systematic shock. We confirm that extreme value theory and copula functions have potential to well describe the extreme dependence between three countries' daily stock index returns.

An Empirical Analysis of Smart Signage and Its Market Delimitation

  • Kim, Hang Sub;Lee, Bong Gyou
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • 제9권8호
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    • pp.2910-2927
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    • 2015
  • This study demonstrates that ease of use, usefulness, and hedonic desires affect the intention to use smart signage, based on market delimitations. Smart signage is at an early phase of adoption and its market can be divided broadly into indoor and outdoor markets. In this study, an empirical study model was established in conjunction with the technology acceptance model (TAM), which was applied to the IT area of a smart signage map and to a hedonic model. Empirical results showed that the key hedonic attributes affecting the intention to use smart signage include information delivery for the indoor environment and emotional and entertainment content for the outdoor environment. In the future, specific guidelines can be presented to boost the usage of smart signage through an empirical study based on the identification of external factors that affect usage intention.

분권화된 다중 프로젝트 관리를 위한 시장 기반 모델링 (Market-based Modeling of Decentralized Multiple Project Management)

  • 이용한
    • 한국IT서비스학회:학술대회논문집
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    • 한국IT서비스학회 2003년도 춘계학술대회
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    • pp.577-583
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    • 2003
  • Due to the widespread availability of the internet, large-scale and dynamic distributed projects in industry are becoming popular. We present a distributed, collaborative, and adaptive control approach for decentralized multiple projects, which is one of representative project environments in modern e-enterprises. In this paper we deal with short term scheduling and rescheduling of resources, which are shared by multiple projects. We in specific, address the dynamic nature of the situation. We model this as a dynamic economy, where the multiple local markets are established and cleared over time trading resource time slots(goods). Local markets are modeled using a combinatorial auction mechanism. Due to the dynamic and distributed nature of economy, through our approach we can achieve higher levels of flexibility, scalability and adaptability.

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Applications and Challenges of Lithium-Sulfur Electrochemical Batteries

  • Mohammed Jasim M. Al Essa
    • Journal of Electrochemical Science and Technology
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    • 제15권1호
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    • pp.1-13
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    • 2024
  • This paper presents applications of lithium-sulfur (Li-S) energy storage batteries, while showing merits and demerits of several techniques to mitigate their electrochemical challenges. Unmanned aerial vehicles, electric cars, and grid-scale energy storage systems represent main applications of Li-S batteries due to their low cost, high specific capacity, and light weight. However, polysulfide shuttle effects, low conductivities, and low coulombic efficiencies signify key challenges of Li-S batteries, causing high volumetric changes, dendritic growths, and limited cycling performances. Solid-state electrolytes, interfacial interlayers, and electrocatalysts denote promising methods to mitigate such challenges. Moreover, nanomaterials have capability to improve kinetic reactions of Li-S batteries based on several properties of nanoparticles to immobilize sulfur in cathodes, stabilizing lithium in anodes while controlling volumetric growths. Li-S energy storage technologies are able to satisfy requirements of future markets for advanced rechargeable batteries with high-power densities and low costs, considering environmentally friendly systems based on renewable energy sources.