• Title, Summary, Keyword: market stability

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Analysis and Comparison of Labor Market Stability by Business Categories in Urban and Rural Areas : Industrial Group, Employment Size, and Survival Duration (도시 및 농촌지역 사업체 유형별 노동시장 안정성 비교분석: 산업군, 종사자규모 및 존속기간별 유형을 중심으로)

  • Lee, Jemyung
    • Journal of Korean Society of Rural Planning
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    • v.23 no.1
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    • pp.97-112
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    • 2017
  • Stability of labor market in rural areas was analyzed in this paper with categories of industrial group, employment scale, surviving period, and founder group. The stability of each classified labor market was compared with each other to figure out the stable business class and the unstable class in rural areas. The results of rural areas were compared with those of urban areas. The stability was analyzed with average and coefficient of variation (C.V.) of annual total employees' change rates. It was revealed that labor market of 'primary industry', including agriculture, is unstable. Especially, labor market of 'mid-size' and 'primary industry' businesses founded as 'incorporated company' in rural areas is vulnerable. While labor market of 'large-size' is proved to be unstable, it is confirmed that 'small-size' or 'mid-size', and 'over-ten-year survived' businesses have positive contribution to the stable labor market in rural and urban areas. The results show that the stability of labor market is different in each category of business and in each region of rural or urban area. It is expected that the results can be utilized for the regional development policies, of labor and industry part.

How Competitive and Stable is the Commercial Banking Industry in China after Bank Reforms?

  • PARK, KANG H.
    • KDI Journal of Economic Policy
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    • v.38 no.1
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    • pp.53-70
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    • 2016
  • This paper examines market concentration and its effect on competition in the Chinese commercial banking market. This study also investigates how changes in competition have affected the financial stability of Chinese commercial banks. To test the competitive conditions, we obtained the H statistic of the Panzar-Rosse model from a revenue function equation. The degree of financial stability is estimated by the Z-score formula. The Chinese banking industry has become an increasingly less concentrated market with an increased number of banks. Along with a decreased market concentration, competition in the Chinese banking industry has improved moderately. However, its market structure is still far from a competitive market. An individual bank's ability to earn higher markup or charge a higher net interest margin contributes to its financial soundness, although a higher degree of market concentration may have negative effect on the financial stability of the entire banking system.

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Country-Level Governance Quality and Stock Market Performance of GCC Countries

  • MODUGU, Kennedy Prince;DEMPERE, Juan
    • The Journal of Asian Finance, Economics, and Business
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    • v.7 no.8
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    • pp.185-195
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    • 2020
  • This study examines the association between governance quality at country level and stock market performance. Specifically, the study investigates the influence of control of corruption, government effectiveness, political stability and absence of violence, rule of law, regulatory quality, and voice and accountability on all-share index of the stock markets of the six Gulf Cooperation Council (GCC) countries. This study is anchored on two theories - the Efficient Market Hypothesis (EMH) and Institutional Theory. The study employs panel data spanning from 2006 to 2017. The findings show that political stability and absence of violence and rule of law exhibit a significant positive impact on stock market performance, while regulatory quality and voice and accountability have a significant, but negative relationship with stock market performance. The results imply that quality of governance in terms of rule of law and political stability devoid of violence have strong impact on stock market returns. Similarly, improved stock market returns are largely dependent on the efficiency of the institutional environment of market as investors are always wary of the inherent risks associated with the uncertainty of the market. This study has crucial policy implications for the government of the GCC countries and stock market participants.

Stability Analysis of Competitive Markets by Supervisory Control Theory (관리제어이론을 이용한 경쟁시장의 안정성 해석)

  • Park, Seong-Jin
    • Journal of Institute of Control, Robotics and Systems
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    • v.16 no.11
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    • pp.1025-1028
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    • 2010
  • This paper presents a new approach to analyze the stability of dynamic competitive markets within the framework of supervisory control of discrete event systems. A competitive market is representative of free market economy where it is well known that an invisible hand (also referred to as Walrasian auctioneer) always achieves an equilibrium of demand and supply. Upon the framework of supervisory control theory, this paper shows that Walrasian auctioneer is a stabilizing supervisor for a convergent competitive market, however a non-convergent competitive market (e.g. a free market under economic bubble and depression) controlled by Walrasian auctioneer may not be stable.

Empirical Analysis on Profit and Stability of Korean Reverse Convertible Funds

  • Shin, Yang-Gyu
    • Journal of the Korean Data and Information Science Society
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    • v.19 no.4
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    • pp.1073-1080
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    • 2008
  • Reverse convertible fund is a method of investment assuring both profit and stability in an unstable stock market, and shares characteristics of a hedge fund and derivative securities. This study analyzes empirically whether reverse convertible funds can indeed serve as a new method in variable stock market environment to provide high profit with low risks especially in the Korean stock market.

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Study on the Price of Housing depending on the Ordinary housing stability policy (서민주거안정정책이 주택가격에 미치는 영향에 관한 연구)

  • Ko, Pill-Song;Koh, Bong-Sung
    • The Journal of the Korea institute of electronic communication sciences
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    • v.6 no.2
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    • pp.280-287
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    • 2011
  • The purpose of this study is to analyze that ordinary housing stability policy determines the impact on housing prices. I got a conclusion such as the result next which carried out proof analysis for this. First, as a result of the Granger Causality Test, the house market of all areas appeared by affecting ordinary housing stability policy. Second, the shock reaction shows the reaction of the department (-) in all areas and ordinary housing stability policy appeared to be contributed to some extent house market stability. Third, as a result of having analyzed Logit Regression Analysis, ordinary housing stability policy appeared to considerable effects house market stability except Kangnam area of the Roh Moo-hyun government.

Analysis about relation of Long-term & Short-term Financial Market, Stock Market and Foreign Exchange Market of Korea (한국 장단기 금융시장, 주식 및 외환시장 연관성)

  • 김종권
    • Journal of the Society of Korea Industrial and Systems Engineering
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    • v.22 no.50
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    • pp.105-125
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    • 1999
  • The results of analysis on foreign exchange market, stock and financial market after January of 1997 are that foreign exchange market will be affected by stock and financial market volatility about 1999. This means that stock and financial market are more stable than foreign exchange market. This also is supported by ‘financial market forecast of 1999 in Daewoo Economic Research Institute’. After won/dollar (end of period) will be increasing in 1,430 at second quarter of 1999, this is to downward 1,200 fourth quarter of 1999. This is somewhat based on government's higher exchange rate policy. But, after yield of corporate bond is to 11.0% at first quarter of 1999, this will be stable to 10.2% at fourth quarter. During the first quarter of 1999, yield of corporate bond is to somewhat increasing through sovereign debt and public bonds, technical adjustment of interest rate. After this, yield of corporate bond will be stable according to stability of price, magnification of money supply, restucturing of firms. So, stock market is favorably affected by stability of financial market. But, the pension and fund of USA, i.e., long-term portfolio investment fund, are injected through international firm's management. It is included by openness of audit, fair market about foreign investors. Finally, Moody's strong rating on the won-denominated bonds suggest that Korea's sovereign debt ratings could be restored to an investment grade in the near future. It sequentially includes inflow of foreign portfolio investment fund, fall of won/dollar foreign exchange rate (appreciation of won) and stability of yield of corporate bond.

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An Empirical Analysis on a Predictive Method of Systematic Segmentation in Volatile High-Tech Markets

  • Shin, Yonghee;Jeon, Hyori;Choi, Munkee;Han, Eoksoo;Jung, Sungyoung
    • ETRI Journal
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    • v.35 no.2
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    • pp.321-331
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    • 2013
  • High-tech markets are unpredictable owing to rapid technology innovation, diverse customer needs, high competition, and other elements. Many scholars have attempted to explain the uncertainty in high-tech markets using their own various approaches. However, sufficiently clear ways to predict diverse changes and trends in high-tech markets have yet to be presented. Thus, this paper proposes a new approach model, that is, systematic market segmentation, to give more accurate information. Using an empirical dataset from the mobile handset market in the Republic of Korea, we conduct our research model consisting of three steps. First, we categorize nine basic segments. Second, we test the stability of these segments. Finally, we profile the characteristics of the customers and products. We conclude that the approach is able to offer more diagnostic information to both practitioners and scholars. It is expected to provide rich information for an appropriate marketing mix in practice.

Power System Sensitivity Analysis for Probabilistic Small Signal Stability Assessment in a Deregulated Environment

  • Dong Zhao Yang;Pang Chee Khiang;Zhang Pei
    • International Journal of Control, Automation, and Systems
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    • v.3 no.spc2
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    • pp.355-362
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    • 2005
  • Deregulations and market practices in power industry have brought great challenges to the system planning area. In particular, they introduce a variety of uncertainties to system planning. New techniques are required to cope with such uncertainties. As a promising approach, probabilistic methods are attracting more and more attentions by system planners. In small signal stability analysis, generation control parameters play an important role in determining the stability margin. The objective of this paper is to investigate power system state matrix sensitivity characteristics with respect to system parameter uncertainties with analytical and numerical approaches and to identify those parameters have great impact on system eigenvalues, therefore, the system stability properties. Those identified parameter variations need to be investigated with priority. The results can be used to help Regional Transmission Organizations (RTOs) and Independent System Operators (ISOs) perform planning studies under the open access environment.

A Study on The Available Transfer Capability(ATC) with Transient Stability Constraints (과도 안정도를 고려한 가용송전용량(ATC) 계산에 관한 연구)

  • Kim, Yang-Il;Jeong, Sung-Won;Gim, Jae-Hyeon
    • The Transactions of The Korean Institute of Electrical Engineers
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    • v.58 no.3
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    • pp.437-443
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    • 2009
  • In recent years, electric power systems have been experiencing a rapid change due to the increasing electricity market. For the effective use of power system under the deregulated environment, it is important to make a fast and accurate calculation of the maximum available transfer capability (ATC) from a supply point to a demand point. In this paper, the purpose of this research is to calculate ATC fast and accurately for securing the stability of system and raising the efficiency as a result of anticipating transmission congestion according to transmission open access progressed in the future under the regulated environment of electricity market. In this paper, a study utilized a relation of the potential energy and energy function by which calculated CCT and then utilized a relation of PEBS for transient stability ATC calculation. In this paper, ATC was calculated as RPF and Energy Function method and calculation results of each method was compared. Contingence ranking method decided the weak bus by the Eigenvalues of Jacobian matrix and overloading branches by PI-index. As a result, a study proved the fast and accurate ATC calculation method considering transient stability suggested in this paper. Through the case study using New England 39 bus system, it is confirmed that the proposed method can be used for real time operation and the planning of electric market.