• Korean Management Science Review
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• v.32 no.1
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• pp.83-100
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• 2015

We analyze a duopoly competition when two firms face input cost increases. The objective of this study is to determine the firms' optimal strategy between a price increase and downsizing under conditions of a spatially differentiated market and consumers' diminishing utility on the product size. We develop a theoretical model of two competing firms offering homogenous products using the standard Hotelling model to determine how firms' optimal strategies change when facing input cost increases. In this paper, there are two types of duopoly competitions: symmetric and asymmetric. In the symmetric case, the two firms have the same marginal cost and are producing and selling identical products. In the asymmetric case, the two firms have different marginal costs. The results show that the optimal strategy decision depends on the size of the input cost increase and the cost differences between the two firms. We find that when two firms are asymmetric (i.e., they have different marginal costs), the two firms might choose asymmetric pairs of strategies in equilibrium under certain conditions. When the cost differences between the two firms are sufficiently large and the cost increase is sufficiently small, the cost leader chooses price increase, and the cost-disadvantaged firm chooses downsizing in equilibrium. This asymmetric strategy reduces price competition between two firms, and consumers are better off. When the cost differences between the two firms are sufficiently large, downsizing is the dominant strategy for the cost-disadvantaged firm. The cost-disadvantaged firm finds it more profitable to reduce the product size than to increase its price to reduce price competition, because consumers prefer downsizing to price increases. This paper might be a good starting point for further analytical research in this area.

• Journal of Fashion Business
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• v.16 no.5
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• pp.23-38
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• 2012

With the rapid developing of economy and the information communication, as well as the fierce competition of marketing, the consumer market of apparel is gradually matured. Also, the consumer has more requirements towards clothes, in terms of quality, style, price level and individuality. As a result, brand fashion, now, needs to accelerate the speed of every stage of producing, which is from designing to the following of finished goods in order to occupy the market share in a fast consuming, variety and individuality pursuing market. An increasing number of industries have focused on the SPA brand so as to adapt the competition of modern market. The paper mainly researches that the differences of purchasing behaviors towards SPA brand between 20's-30's Chinese female and 20's-30's Korean female. The analyzing results of purchase motivation showed difference in the 'personal motivation' and 'social motivation' factor. Purchase standard showed differences in the 'image management' factor. The attitude toward the brand showed differences in the 'practicality' and 'trendiness' factor.

• The Journal of Industrial Distribution & Business
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• v.8 no.3
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• pp.19-22
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• 2017

Purpose - To control exorbitant interest rates, implementation of an interest rate ceiling is a standard practice in microfinance. However, there are pros and cons of such market intervention. Hence, the aim of this short note is to highlight issues and challenges regarding the interest rate cap in microfinance, both from the perspective of clients and institutions. Research design, data, and methodology - While the nature of this short note is explanatory and descriptive, the research methodology used relevant data from the MixMarket and Microcredit Regulatory Authority (MRA) annual reports in Bangladesh. Results - We argue that an interest rate ceiling is detrimental both for the clients and microfinance institutions (MFIs). This market intervention substantially reduces the outreach of MFIs and clients are most likely to pay a higher price in the long-run. Additionally, an interest rate cap also puts severe pressure on new-born and high-cost MFIs to cope with the interest rate ceiling. Conclusions - Although market intervention may be necessary in the short-run, it should not be the ultimate solution to abate high interest in microfinance. Understanding the operational dynamics of MFIs, as well as promoting productivity, efficiency and competition could help to lower the interest rates.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.1-7
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• 2021

The study examines the influence of COVID-19 on the stock market returns of Saudi Arabia. The data was analyzed through event study methodology using daily price data of Tadawul All Share Index (TASI). The study examines the behavior pattern of the Saudi Arabian stock market in different phases during the event period by selecting six-event windows with a range of 10 days. The results report a negative Abnormal Return (AR) of -0.003 on the event date, while the abnormal returns reversed the next day to 0.005 positively. The result of Cumulative Abnormal Return (CAR) is negative and significant at the 1 percent level in all the six-event windows starting from the event date to day 59 after the event for the TASI index. Even though the influence of the COVID-19 pandemic decreased after 30 days of the event date, it increased during the last ten days of the event window. The stock market volatility of Saudi Arabia increased during the post-event period compared to the pre-event period with a negative mean return of -0.326 and a greater standard deviation. In a conclusion, the study found a significant influence of the COVID-19 pandemic on the stock market returns of TASI.

• Horticultural Science & Technology
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• v.32 no.5
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• pp.721-729
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• 2014

This study was conducted to improve the consumption of floriculture plants by researching preferences of consumers for the main types of cut flowers. We analyzed the results of surveys, carried out by a company, that were largely about roses, chrysanthemums, and lilies. After departmentalizing consumers into groups and analyzing the results through conjoint and cluster analysis, we found that consumers showed a higher rate of use based on price and vase life than on flower color and flower shape in roses. The groups of rose consumers preferred a price of 1000 won, spray type flower shape, vase life of 7-8 days, and red flower color. In chrysanthemums, consumers showed higher rate of use for flower color than for vase life, flower shape, and price. The groups of chrysanthemum consumers preferred a price of 1000 won, standard flower shape, 16-20 days vase life, and yellow flower color. In lilies, consumers showed higher use rate for flower shape than vase life, price, and flower color. Lily consumers preferred a price of 2000 won, large flower shape, 4-7 days vase life, and yellow flower color. Thus, the major cut flowers (rose, chrysanthemum, and lily) all showed highest use rates in for vase life. These results highlight the importance of understanding the characteristics of consumer interests. They also emphasize that we should plan and create market-oriented and consumer-oriented products to improve the consumption of floriculture plants.

• Journal of the Korean Data and Information Science Society
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• v.27 no.3
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• pp.639-651
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• 2016

"Law on price announcement for real estate" which was revised as of Jan. 19, 2016 (will be enforced as of Sep. 1, 2016) decided the introduction of 'Price announcement system for non-residential property' for the first time. However, its introduction seems to be delayed based on two reasons. Firstly the methodology for introduction of non-property system is not definitized, despite many problems were brought up for current tax base of non-residential property. In addition, changes in tax base will place a burden on the government. In this regard, this study analyzed actual transaction price data throughout one year to analyze equity of taxation for non-residential property and to find major factor which affects on the tax base, in relation with the change of current public announcement system to actual transaction based system. And this is the first study that applied actual transaction price to non-residential property.

• The Journal of Fisheries Business Administration
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• v.26 no.1
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• pp.9-27
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• 1995

From now on, the direction of fishery products circulation measure should be improved the system to give just the right of free choice of sale route like retail, direct sale, direct dealings and direct shipping only for fishermen to produce them diversifing the function and the role of current fish market in the production to prepare the fishery internationalization, to improve the competitiveness of coastal and off-shore fishery. Practically wholesale market in land and fish market in the production have the different function and role, the organization of wholesale market in land can't substitute the essential function and role which fish market in the production should perform. So far, fisheries cooperatives as a managing subject of fish market in the production have depended on the consignment sales and purchases of fishery products but, from now on, it should be explore the widespread supply way of fishery products by producing value - added fishery products that should bring higher demand from the consumers, producer - consumer direct marketing system through not only consignment sales but also direct sales that common processing and manufacturing system of fishery products under the management of FC has been established. The direction of the idealest structural improvement of fishery production circulation organization is to establish the the position of the fishery retail price leader based on the standard of market in the fisheries production due to existing characteristics of fisheries, accordingly, to harmony the market organization of direct transportation, direct sales and direct dealings form by producer and group of producers with market organization in the fisheries production, and to make the condition to do the appropriate distributive function.

• The Journal of Fisheries Business Administration
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• v.29 no.2
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• pp.111-141
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• 1998

Why are auctions so prevalent in fisheries fields\ulcorner One answer is, perhaps, that fisheries products have no standard value. The price of any catch of fish (at least of fish destined for the fresh fish market) depends on the demand and supply conditions at a specific moment of time, influenced by prospective market developments and prices must be remade for each transaction. There are various auction schemes including written-bid method in Korea. It is difficult to make decision the application of auction selling in market distribution. One reason is the absence of adequate data on which to base firm statements. There is very little precise information about the relative volume handled by auction scheme as compared with other sales schemes Because of the paucity reliable data, one must depend largely on qualitative in attempting to above this problem. This paper is designed to examine which auction scheme is more efficient as a economic tool by introducing the three auctions, as samples, utilized in Koheung peninsula. Koheung coast with abundant fisheries resource, locates on the Middle-South part in Korea and has three auction firm operating by fisheries cooperatives. fur selling of dry fish included sea weed, live fish and fresh fish respectively, As a result, 1 found that there are three interesting auction schemes as follow : 1. More than one winners are selected as buyers. The highest bidder can at first get fishes he wants to buy, second winner can get surplus fishes after the highest bidder employes one's privilege with the highest pay, and next winner would be a buyer if fishes would be left in sequence after being sold with higher price. Every fisherman can sell one' s fishes with equal unit price if he delivery it to the winner within one day. Therefore, all the vendors feel they are equal members of fisheries cooperation. 2. Written-bid pricing on the cover of handy book. It is easy to write and to erase the figure more than on the small black board, and is convenient also to keep in the pocket. 3. Auctioning on the fixed platform with fixed fish tank is a very fast auction scheme in spite of short displaying time. Auctioneer presides bidding at one place on the fixed platform, instead of moving, vendors should carry a container of live fishes in the fish tank into showing table in front of would-be buyers and auctioneer. Although the applicability of the auction system to a marketing problem depends in part on subjective considerations by those making decision, basically it is a matter of comparative economic efficiency. In general, if the scheme maximizes returns in relation to the effort expanded by both buyers and sellers, it will be utilized. If it does not, a more efficiency may take place over a period of time, but, even more important, those making decisions may become aware of the potentialities of new schemes. Therefore, in order to applicate the three interesting auction schemes introduced in this paper to other fisheries market, it is necessary not only to analyze many other auction schemes but also to compare the economic efficiency those schemes utilizing in other fisheries market.

• Journal of the Korean Geographical Society
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• v.48 no.6
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• pp.879-896
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• 2013

The assessed land values and housing prices have been widely utilized as a basic information for the land and house trades and for evaluating governmental and local taxes. However, there exists a price difference in actual markets between the assessment level and assessed land values or housing prices. This paper emphasizes the spatial mismatch between the assessed land values and housing market prices and particularly addresses the following two aspects by focusing on spatial effects of the modifiable areal units, which would substantially affect the estimation of the assessed land values and housing prices. First, we examine the spatial distributions of the assessed land values and housing market prices, and the gap between those prices, on the basis of the aggregated spatial units(i.e., aggregation districts). Second, we explore the scale effect of the MAUP(modifiable areal unit problem) generally embedded in estimating the prices of the sampled standard lands and houses, and calibrating the correction index for the land values and housing prices for the individuals. For the application, we analysed the land values and housing prices in Seoul utilizing GIS and statistical software. As a result, some spatial clusters that the housing market prices are significantly higher than the assessed land values were identified at a finer geographic level. Also, it was empirically revealed that the statistical results from the regression of regional variables on the assessed land values for the individuals are significantly affected by the aggregation levels of the spatial units.

• Korea Journal of Hospital Management
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• v.6 no.3
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• pp.69-89
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• 2001

This study is focused that the electronic commerce(EC) on the purchasing section may improve the efficiency and transparency of the hospitals management. After reviewing the purchasing activity of hospitals, I study the introduction, expected effects, and problems of EC. So, I am going to provide basic information for activating EC. The samples are managers of 170 hospitals, which are located on Seoul. As a result of collection this survey, I analyze 79 hospitals. For data analysis, I use $X^2$-test and ANOVA for purchasing management and the relevance of EC according to the level of care. The results of this study are 1. The problems on the management of purchasing section are: firstly, they don't have sufficient time to study market. Secondly, it is difficult to find competitive suppliers. And, lastly, they cannot gather a lot of information about the price of products. 2. There are many answers of the needs on the introduction of B2B. However, some hospitals think they don't need it. But, the most answers are that the EC will be settled within 4 years. So, we can realize that these hospitals are getting interested on the EC. On the other hand, I find that they prefer outside EC companies for the introduction of EC. 3. On the expected effects on EC, first is the effectiveness of the market survey. The next is to collect information of adequate price of products owing to clear transaction, find easier new suppliers and gather useful data. 4. On the external problems of the introduction of EC, there is low credibility related to the security and the weakness of suppliers' information system. Especially, on the Real Transaction Price Payment system, the bigger bed size, the higher understanding on these problems. On the internal problems of the introduction of EC, first is the burden of the introduction of EC and operating cost. Especially, on the burden of the disclosure of revenue source, the smaller bed size, the higher understanding on this problem So, this is a point which deserves my attention statistically. However, this shows relatively little understanding about incomplete the standard of product category and the weak information system of hospital. Through this study, I am going to suggest 3 points for the activation of the introduction of EC on hospitals. 1. The reform of the Real Transaction Price Payment System on medical supplies and materials for medical treatment 2. The establishment of the standard of product category 3. The promotion of information system based on network.