Abstract I. INTRODUCTION 1.1 Backgrounds 1.2 Need for Study II. RESEARCH DESIGN 2.1 Problems and Hypotheses 2.2 Data and Research Methodology III. RESEARCH RESULTS 3.1 Market Reaction Before the Liberalization 3.2 Market Reaction after the Liberalization 3.3 Correlation Test Results 3.4 Regression Test Results IV. CONCLUSIONS REFERENCES 요약