• The Korean Journal of Financial Management
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• v.18 no.1
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• pp.43-66
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• 2001

본 연구는 투자자 집단에 따라 그 매매에 있어서 주가와의 관련성을 분석하고자 하였다. 투자자 집단의 매매 성향은 월별 순매매율로 측정하였으며 주가의 대용변수는 한국종합주가지수(KOSPI)의 월별 수익률로서 분석에 사용된 기간은 1992년 1월부터 1999년 12월까지이다. 분석을 위한 방법론으로 상관분석과 회귀분석을 이용하였다. 상관분석은 스피어만 순위상관분석을 이용하여 KOSPI와 각 투자자 집단의 순매매 비중의 상관계수를 도출하였으며 그 결과 KOSPI와 개인투자자의 순매매와는 음의 유의적 상관관계를, KOSPI와 외국인 투자자의 순매매율과는 양(+)의 유의적 상관관계를 알 수 있었다. 그러나 기관투자자의 경우 기관투자자 전체 범주로 볼 때 유의적 상관관계가 없었으나 세분화된 기관투자자 일부는 유의적 상관관계를 보였다. 또한 본 연구는 KOSPI와 각 투자자 집단의 매매에 대한 인과관계를 추론한 바 외국인 투자자의 매매는 KOSPI에 영향을 주며 개인투자자의 매매는 오히려 KOSPI에 영향을 받는 것으로 보였다. 그러나 기관투자자의 경우 세부기관마다 그 매매의 성격을 달리하는 것으로 보였다. 이러한 분석결과를 바탕으로 회귀분석을 실시하였으며 그 분석결과 외국인 투자자와 기관투자가 가운데 증권사와 투신사의 경우, 순매수가 늘어날수록 주가는 상승하고 순매도가 늘어날수록 주가는 하락하는 것을 확인할 수 있었으며 반면 개인투자자의 매매는 KOSPI 주가에 따라 영향을 받는 것으로 나타났다. 즉 주가가 상승할수록 매도에 치중하고 주가가 하락할수록 매수에 치중하는 것으로 분석되었다. 기관투자자 가운데 보험사의 매매 역시 주가에 영향을 받는 것으로 나타났다. 본 연구의 성과로는 특정 투자자 집단이 주가의 움직임에 따라 매매를 하는 수동적 전략의 의미보다는 적극적으로 주가를 움직이는 주체로서 외국인투자자와 일부 기관투자자의 존재를 확인할 수 있었다는 점이며, 주가 움직임에 따른 개인투자자와 일부 기관 투자자의 수동적 매매 스타일과 기관투자자 사이의 투자스타일의 이질성을 통계적으로 확인할 수 있었다는 데에 있다.

• Journal of Internet Computing and Services
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• v.10 no.1
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• pp.123-134
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• 2009

The CRM(Customer Relationship Management) is a business strategy model which can reap higher profits and can provide a competitive edge to an enterprise in today's new business environments. Early next year (2009), the Capital Market Consolidation Act will be in effect in South Korea. This is required for a qualitative growth to provide QoS (Quality of Service) and ensure growth in finance, IT industry & service. Accordingly, the securities and insurance companies, banks and other financial institutions make efforts to improve their derivative financial product and also enhance their services. In this paper we design and implement a Channel Server model for a Scalable Service Channel Server to efficiently manage the high volumes of inbound customer interactions based on the requirements of a CRM center. The proposed Scalable Service Channel Server supports integration with other third party service and standardization of multiple inbound service channels. The proposed model can be efficiently used in an inbound CRM center of any banking, finance, securities and insurance establishments.

• Journal of Digital Convergence
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• v.18 no.11
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• pp.267-272
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• 2020

Macroeconomics are one of the indicators that are preceded and analyzed when analyzing stocks because it shows the movement of a country's economy as a whole. The overall economic situation at the national level, such as national income, inflation, unemployment, exchange rates, currency, interest rates, and balance of payments, has a great affect on the stock market, and economic indicators are actually correlated with stock prices. It is the main source of data for analysts to watch with interest and to determine buy and sell considering the impact on individual stock prices. Therefore, economic indicators that impact on the stock price are analyzed as leading indicators, and the stock price prediction is predicted through deep learning-based prediction, after that the actual stock price is compared. If you decide to buy or sell stocks by analysis of stock prediction, then stocks can be investments, not gambling. Therefore, this research was conducted to enable automated stock trading by using macro-indicators and deep learning algorithms in artificial intelligence.

• International Commerce and Information Review
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• v.16 no.3
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• pp.97-119
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• 2014

This study measures the efficiency of intellectual capital of Korea's banks, financial investment companies, and insurance companies using the Value Added Intellectual Coefficient (VAICTM) model, which was developed by A. Pulic and investigates into the relationship of each of VAIC's elements - efficiency of human, structural, and material capital -with business performance of the institution. we found, first, average VAIC and human capital efficiency(HCE) of Korean financial institutions during 2001 - 2012 were highest among banks, followed by insurance companies and securities firm. Secondly, in general, banks in advanced countries tend to have higher HCE and VAIC compared with the banks of developing countries. Thirdly, Korean financial institutions' HCE and VAIC are lower than those of Australia and even Taiwan and Thailand and have been on the decrease in recent years. This suggests that Korean financial institutions should enhance VAIC and HCE to build-up the international competitiveness.

• Journal of the Korea Society of Computer and Information
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• v.17 no.7
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• pp.175-184
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• 2012

The purpose of this study is to investigate the home trading system (HTS) of the security companies in order to examine the critical factors of HTS service quality and the effect of these factors on HTS customer satisfaction and loyalty. The results show : (1) the quality factors of HTS are assurance, reliability, tangible, responsiveness, and empathy, (2) and these quality factors significantly affect customer satisfaction on HTS and customer satisfaction and loyalty to the security company. (3) Also, customer satisfaction on HTS plays an important role in improving customer satisfaction and loyalty to the security company.

• Information Systems Review
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• v.3 no.2
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• pp.289-303
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• 2001

The online stock transactions are gaining popularity at an incredible speed these days as more and more investors are adopting Internet as a new and convenient way of handling such transactions. As a consequence, the market for online stock exchange services is getting increasingly competitive; measuring and managing the quality of such services have become a crucial issue to the survival and growth of the stock brokerage houses. Unfortunately, however, little research effort to date has been made as to developing a set of valid and reliable measures for assessing investor perceptions of the quality of the online stock exchange service. The present study generates and tests a new set of multi-item measures for the quality of the online stock exchange service from an investor's perspective. This set of measures can be used in various stages and aspects of formulating online marketing strategies for stock brokerage firms. Marketing implications of this instrument for service providers are discussed.

• Korean Security Journal
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• no.53
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• pp.37-59
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• 2017

This study aims to contribute to the early detection of occupational fraud in the Korean financial industry by analyzing fraud symptoms. Firstly, the definition, cause of occupational fraud, and fraud symptoms were discussed through literature review. Secondly, survey data were collected from the employees of the financial industry such as bank, insurance, and securities companies to conduct statistical analysis. The result of analysis showed that the symptoms of 'excessive stock investment' and 'unsettled life style' were statistically significant predictors of fraud detection experience. Plus, 'tips and complaints' were the most frequent method for detecting occupational fraud in the Korean financial industry. The financial institutions can minimize the loss of occupational fraud by early detection through educating their employees and vendors on these important symptoms of occupational fraud.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.20 no.6
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• pp.67-81
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• 2010

As wide propagation of smartphones, e-commerce with smartphones increases rapidly. Such as transfer or stock trade systems. It has prospect that most of financial companies going to offer e-commerce systems via smartphones. And e-commerce via smartphones will be increased, hence the nature of smartphone that can be used whenever, wherever. However, legislation of e-commerce in Korea does not reflect these characteristics of smartphones, because it has set standards in regular PC. So that this study is security threat and feature of smartphones considering that the current legal system will use Certificate constraints, ensuring the safety of e-commerce and install security programs for protection of users, e-commerce responsible for the accident analysis has focused on the issues presented for this improvement.

• The Journal of Bigdata
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• v.5 no.2
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• pp.215-229
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• 2020

The interest in machine learning is growing in all industries, but it is difficult to apply it to real-world tasks because of inexplicability. This paper introduces a case of developing a financial customer churn prediction model for a securities company, and introduces the research results on an attempt to develop a machine learning model that can be explained using the SHAP Value methodology and derivation of interpretability. In this study, a total of six customer churn models are compared and analyzed, and the cause of customer churn is inferred through the classification and data analysis of SHAP Value and the type of customer asset change. Based on the results of this study, it would be possible to use it as a basis for comprehensive judgment, such as using the Value of the deviation prediction result that can infer the cause of the marketing manager's actual customer marketing in the future and establishing a target marketing strategy for each customer.

• Knowledge Management Research
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• v.22 no.1
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• pp.21-37
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• 2021

The purpose of this study is to explore financial investment knowledge related to multi-strategy, which is not generally shared. Through case studies, we will share it with the domestic hedge fund market. Since the era of full-fledged private equity hedge funds in Korea opens, many funds are created; however, reality is that there is a lack of diversity in strategies. Initially, it started with a simple stock long/short strategy, and various strategies such as mezzanine and alternative investments are in use but funds using multi-strategy are limited. This study aims to present an empirical application plan for hedge fund management strategies using a case study. It will specifically focus on process of achieving Absolute Return using the Multi Strategy technique actively used in securities firms' Prop Trading. With the results of this study, we intend to contribute to those fund managers and desired researchers who are utilizing multiple strategies in the hedge fund management to pursue Absolute Return and to help them strengthening their financial knowledge and competitiveness.