• International Commerce and Information Review
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• v.6 no.3
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• pp.101-119
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• 2004

Since the early 1980's there has been explosive growth in the trading of financial derivatives, particularly in the OTC(over-the-counter) derivatives market. While the market has exploded in term; of growth, much of this activity is still conducted over the phone or fax. Currently, over 2,083 trillion Korean Wons are spent during 2003 by the OTC derivatives industry. XML provides an excellent framework for representing these highly structured products. FpML is the emerging XML-based tool for enabling e-Business in the OTC derivatives market. This paper discusses the application of FpML in building electronic platform designed to promote efficiencies for this market and propose the framework for STP(Straight Transaction Processing) system for OTC derivatives processing which can solve the problems with manual operations.

• The Korean Journal of Financial Management
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• v.15 no.1
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• pp.183-205
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• 1998

공매(short sale)에 대한 제약이 없는 투자환경에 비해 공매에 대한 제약이 있는 투자환경에서는 주식과 같은 위험자산의 가격은 한동안 과대 평가된다. Figlewski & Webb (1993)는 공매에 대한 제약으로 인해 악재(bad news)가 주가에 과소 반영된다고 하였으며, Diamond & Verrecchia(1987)는 공매에 대한 여러 제약(short-sale constraints)으로 인해 주식시장에 호재로 작용하는 정보(favourable information)와 악재로 작용하는 정보(unfavourable information)가 주식시장에 비대칭적으로 반응하며, 악재가 주가에 더 늦게 반영된다는 것을 보였다. 그러나, 주가지수옵션의 거래는 여러 제약이 많은 공매제도로 인해 악재가 주식시장에 일시적으로 과소반영되는 비효율성을 해결해준다. 그래서 본 연구는 주가지수옵션이라는 파생금융상품의 도입으로 인해 악재의 주가 반응 속도에 어떠한 영향을 미치는 지에 대해 살펴보았다. 전환(switchig) GJR-MA(1) 모델을 이용한 실증분석 결과에 의하면, 주가지수옵션의 거래는 여러 제약이 많은 공매제도로 인해 악재가 주식시장에 늦게 반영되는 비효율성을 제거하게 되어, 옵션 도입 이후로 주식시장의 악재로 인한 변동성 충격(volatility shock)이 그 시장에 더욱 더 빨리 흡수되어 정보적 시장효율성(informational market efficiency)을 증대시키는 결과를 보였다.

• Proceedings of the Korea Contents Association Conference
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• 2018.05a
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• pp.95-96
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• 2018

높은 시청률을 기록하여 종영한 드라마는 드라마 자체뿐만 아니라 부가적으로 파생된 상품에서도 그 원인을 찾아볼 수 있다. 그 중에서 드라마에 삽입된 드라마 OST의 역할이 크게 작용하고 있다. 새롭게 한류드라마의 한 획을 근 "별에서 온 그대"에서 다양한 방법의 드라마 OST의 사용방법이 나타났는데 첫 번째로 가창곡보다 BGM의 사용이 많으면서, 삽입된 빈도수는 많고 시간은 짧았다. 두 번째로는 출연배우의 대표작을 활용한 장면연출과 작품에 나온 대표곡을 삽입하였다. 이는 전체적인 BGM 사용 형태를 유지하며 앞서 언급한 OST의 사용이 시청자들에게 드라마를 감상하는 새로운 방법으로 작용할 수 있음을 제시한다.

• Korean Journal of Organic Agriculture
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• v.28 no.4
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• pp.459-475
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• 2020

This study analyzes weather derivatives as an alternative risk management tool to stabilize farm revenue to complement the existing crop insurance program which suffers from asymmetric information problems such as adverse selection, moral hazard, and verifiability. We estimated apple yield functions to observe the relationship between yields and weather indices such as temperature and precipitation. Based on the estimated yield functions we designed weather futures and options products underlying temperature and precipitation, and calculated the prices of futures and options by two different approaches, historical distribution and Monte Carlo simulation. We found that weather futures and options stabilize farm revenue based on the estimated four risk indicators: Coefficient of Variation, Value at Risk, Certainty Equivalence, and Risk Premium. As a result, weather derivatives could be considered as a potential farm risk management tool through studying more in legal and institutional strategies and developing various derivatives products.

• Convergence Security Journal
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• v.14 no.3_1
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• pp.21-26
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• 2014

Sports paradigm shift gave an opportunity to transform into production-oriented industry activities creating high value-added. Sports industrial cluster, organic union of qualitative industries producing and distributing of various sports derivative products, is necessary system in these sports paradigm shift. This study is intended to suggest the definition, construction, and direction for future of sports industrial cluster. In order to ensure the sustainable growth of sports industrial cluster, a growth strategy such as switching to the sementic cluster is needed. And the direction for future of sports industrial cluster were as following; finding the growth engine sports industry field according to the convergence, systematically promoting by setting the medium and long term development goals, constructing a wide industrial region for global competitiveness of sports industry.

• Economic and Environmental Geology
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• v.41 no.5
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• pp.551-562
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• 2008

Option pricing model in finance has been applied to price non-financial options, called real options. The real option valuation method is ideally suited to irreversible decision making under uncertainty, including the need to determine the optimal time to act and even change between alternative courses of action as information is collected. Therefore, the real option valuation method is expected to provide a superior and less subjective approach to determining optimal strategies for water resources supply projects, which have been reported to have huge risks due to uncertainties, and investors and policy makers need to build an optimal strategy - when and if to invest - with uncertainties and managerial flexibilities considered.

• 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.

• The Journal of the Korea Contents Association
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• v.10 no.11
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• pp.352-362
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• 2010

This research aims to analyze business strategies of professional sports marketing companies which have properties of sports organizations in Korea, with a view to investigating into the nature of the business of the agencies and the characteristics of business models and to considering what kinds of suggestions such characteristics have for the development of professional sports marketing agencies in Korea. Professional sports marketing agencies do not simply acquire their property rights or act as a proxy in getting the property rights but also multiply opportunities for their business while acting as a proxy and developing extension commodities so as to maximize their profit, which is a core capability of sport businesses. Sports marketing businesses in Korea are characterized by dual structure: advertisement companies specializing in BTL (Below The Line)-centered promotion business, and sports marketing agencies specializing in the business focused on sports contents. This structure serves as an obstruction for Korean sports marketing agencies to build up their capabilities to maximize opportunities and extension.

• Journal of Digital Contents Society
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• v.18 no.3
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• pp.543-550
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• 2017

Superhero films have formed a new genre convention encompassing all the generations. Figures derived from image contents are solid figures produced by means of professional figuration skills. Possession of figures has a symbolic meaning as a medium connecting the imaginary world and real one. From this perspective, figures hold an important position as a character product derived due to market expansion of the content industry. In this context, the study, which analyzed how appraisal of outward visual elements in superhero action figures might affect consumer's purchase intention, aimed to identify their purchase patterns. For this, the study established colors, types of physical body, facial figures and motions as independent variables for appraisal of outward visual elements, and purchase intention as a dependent variable and then conducted a multiple regression analysis. As a result of the analysis, the study found that colors, types of physical body and facial figures had a positive influence on purchase intention, while motions had no significant influence.

• International Area Studies Review
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• v.21 no.1
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• pp.181-200
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• 2017

This study investigates the impact of exchange rate and exchange rate volatility on the stock prices of eight industries from 2006 to 2015. The first and second exchange rate exposure of these eight industries is estimated with respect to four different exchange rates, namely the US dollar, Japanese yen, European currency unit, and British pound. In exchange rate exposure, stock prices in foods-beverages, paper-wood, electricity-gas, and banks industries are negatively related to exchange rate, whereas stock prices in electrical-electronic equp. and transport-equp. industries are positively related to exchange rate as expected. However stock price in machinery industry is negatively related to exchange rate, which is opposite to the expectation. Negative relationship is found between stock price in chemicals industry and exchange rate. In exchange rate volatility exposure, stock price in paper-wood industry is found to be negatively related to exchange rate volatility. Stock price in banks industry is also negatively related to exchange rate volatility. This result is opposite as expected, because banks are supposed to get more revenue by issuing derivatives related to foreign exchange when exchange rate volatility increases.