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Information Effects of Secondary Equity Offerings
Min, Sungky,Choe, Yongshik 漢城大學校 1996 論文集 Vol.20 No.1
This chapter examines the informational effects associated with secondary distributions, which are often called block trading. The secondary distributions in this study are large distributions than the normal block distribution. The benefit of examining secondary distributions is that secondary distributions are not confounded by other firm specific events. Thus, the informational content can be isolated. Secondary distributions are divided into two groups, registered and non-registered. Inclusion of asymmetric information in registered secondary distributions is supposed relative to non-registered secondary distribution. The result indicates that both registered and non-registered secondary distributions are regarded as a negative signal in the market. For registered secondary distributions, the information released prior the distribution is larger than for non-registered distributions. However, non-registered secondary distributions exhibit larger negative abnormal returns at the time of issuance. For the period including before the distribution and at the time of distribution, the two types of secondary distribution do not exhibit significant differences in abnormal returns. Thus, results indicate that the importance is in the timing of the information release.
State Readings and Boundedness in the Korean Progressive
Sungki Suh 한국생성문법학회 2017 생성문법연구 Vol.27 No.3
Suh, Sungki. 2017. State Readings and Boundedness in the Korean Progressive. Studies in Generative Grammar, 27-3, 649-674. The Korean progressive -ko iss form often produces a state reading rather than a progressive reading when it occurs with a state verb, whereas the English progressive is basically incompatible with state verbs and produces a state reading only in very limited cases. We claim that, in spite of such a contrast, progressives in the two languages share a crucial property: The presence of Hold and the absence of Cul (culmination) in the sense of Parsons (1989) govern the basic distribution of progressives in Korean as well as in English. Meanwhile, the more generous distribution of Korean progressive can be attributed to its unique licensing condition, i.e., the boundedness condition, which only excludes the verbs describing an unbounded state from taking the progressive form. As for the exceptional cases of English progressive, the mechanism of type coercion can explain how a state verb occurs in its progressive form.
Effects of Revenue-Sharing Contracts on the Profits of Competing Manufacturers and a Retailer
Sungki Kim(김성기),Nina Shin(신니나),Sangwook Park(박상욱) 한국경영과학회 2018 한국경영과학회지 Vol.43 No.2
This study investigates the effect of revenue-sharing contracts in two competing manufacturers and one common retailer model under game theoretic settings. One manufacturer uses a revenue-sharing contract (RSC) and the competitor a wholesale price contract (WPC). We study whether the adoption of an RSC coordinates the supply chain of the RSC-adopting manufacturer and the retailer and how it affects two manufacturers’ profits under two game scenarios : two-stage and one-stage game. We analyze the effects of demand parameters which represent product characteristic, such as price sensitivity and product substitutability on supply chain members’ profits. We find that the RSC in the two-stage game does not coordinate the supply chain. Conversely, the RSC in the one-stage game coordinates the corresponding supply chain for some sets of demand parameters values, and that for others, the competing manufacturer experience greater profit increase than the RSC-adopting one.