• Information Systems Review
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• v.21 no.2
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• pp.139-155
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• 2019

Recently, the domestic e-commerce market has achieved remarkable growth through the spread of e-commerce throughout the industry. Nevertheless, the ratio of e-commerce use by our small and medium-sized enterprises has turned out to be very low. The reason for this low participation rate of SMEs in B2B e-commerce market is due to various reasons, but also the lack of empirical performance measurement and evaluation considering the characteristics of B2B e-commerce market in which SMEs participate. Therefore, this study was intended to analyze the effectiveness of B2B e-commerce use of B2B e-commerce to companies that are provided in conjunction with e-Marketplace by public credit guarantee agencies with experience in use. To this end, 14 items related to finance derived through prior research were used to conduct management performance analysis and hypothesis verification from a financial perspective. The implications of this study are expected to be that an empirical performance analysis from the financial perspective of a B2B e-commerce guarantee Utilized company can be used as a basis for policymaking for the activation of the B2B e-commerce guarantee in the future, thus contributing to the establishment of a stable business environment by supporting the expansion of e-commerce by small and medium-sized businesses.

• Korea Trade Review
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• v.48 no.4
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• pp.189-208
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• 2023

This paper analyzed the dynamic conditional correlation between the Korean ETS market, energy market and stock market. This paper conducted an empirical analysis using daily data of Korea's carbon credit trading price, WTI crude oil futures price, and KOSPI index from February 2, 2015 to December 30, 2021. First, the volatility of the three markets was analyzed using the GARCH model, and then the dynamic conditional correlations between the three markets were studied using the bivariate DCC-GARCH model. The research results are as follows. First, it was found that the Korean ETS market has a higher rate of return and higher investment risk than the stock market. Second, the yield volatility of the Korean ETS market was found to be most affected by external shocks and least affected by the volatility information of the market itself. Third, the correlation between the Korean ETS market and the stock market was stronger than that of the WTI crude oil futures market. This paper analyzed the correlation between the Korean ETS market, energy market, and stock market and confirmed that the level of financialization in the Korean ETS market is quite low.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.10
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• pp.4359-4368
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• 2011

Among several macroeconomic missteps blamed for the recent global financial crisis including the social problems of income distribution and the lack of proper financial remedies, two of them have received particular attention: the global BOP(Balance of Payment) imbalance and the misguided monetary policy. Such BOP imbalance was blamed for massive foreign exchange investment flows from Asia into the U.S., triggering the financial and real estate bubble in America. The latter refers to the excessively loose monetary policy of the U.S. Federal Reserve, which pushed financial institutions and households into reckless investment behavior in search of higher returns. Given the abuse of certain innovative financial techniques and new investment instruments that have been created in recent decades, both collateralized debt obligations (CDOs) and credit default swaps (CDS) enjoyed a symbiotic and toxic relationship prior to the financial crisis This paper is organized as follows: The first section analyzes the real causes of the recent financial crisis. The second details the role of CDOs and CDS. Then, to identify key determinants of the CDS spreads in an emerging capital market, the sample data of major Korean firms' CDS spreads are used to estimate the risk premium by utilizing the multiple regression analysis. The empirical test result indicates that Korean 3-year treasury bond rate(TYIELD), market to book value ratio(MV/BV), and assets size(INASSETS) are shown to demonstrate statistically significant influences on the changes of the CDS premium for sample firms.

• The Journal of Industrial Distribution & Business
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• v.10 no.11
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• pp.7-13
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• 2019

Purpose: In the past, the South Korean government made various efforts to attract Chinese tourists, resulting in gradually more inbound tourists. In 2016, the number of Chinese tourists to South Korea peaked at 8.06 million and became the top source market. Nevertheless, increasing numbers of consumers choose to adopt the mobile payment tool instead of cash and credit cards in modern times with developed IT services. Research design, data, and methodology: IBM SPSS AMOS 23.0 and IBM Statistics 23.0 were used to analyze the data, which was collected from hotel employees in China from March 25 to May 10. Results: First, Interactivity, security, convenience, local information supply and user interface had positive effects on satisfaction and reliability. Second, it was believed that the convenience of Alipay played a positive role in increasing reliability and satisfaction through verification. Third, the role of use rate was found to be important in the development of Alipay functions. Conclusions: Based on the result, an analysis on the development of the Alipay market and the use of Alipay in South Korea is warranted. Furthermore, this paper will serve as a basis for flexible strategic plans for the development of Alipay and SMEs in South Korea.

• Journal of the Korean Home Economics Association
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• v.44 no.2 s.216
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• pp.61-69
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• 2006

The purposes of this study were,1) to examine the clothing purchase behaviors of the elderly, and 2) to investigate the relationships of clothing purchase behaviors, information source, service quality and clothing buying motive, which may provide insights related to the silver market. Data were obtained for women in their 50's and 60's women living in Busan (N=285), and analyzed using to factor analysis, Cronbach's alpha, ANOVA and Duncan test. The research findings of the research wereare asan follows. The elderlys women bought clothes with their her friends, used credit cards, and usually shopped at the department stores. There were partly significant (Ed- it cannot be 'partly' either it was significant or it was not) differences in clothing purchase behaviors, information source, and service quality by clothing buying motive types. The ostentation group considered more massmideamass mediainformation sources and experience/salespersons/observation information sources, more was higher than the economic group and utility groups. The ostentation group and economical groups attached more importance to Facilities Service and Policy Service in service quality, was higher than the utility group. The Iimplications and drawn from the study results for the information will be useful to consumer behavior researchers and retailers of the silver market.

• The KIPS Transactions:PartC
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• v.8C no.5
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• pp.621-628
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• 2001

SET is one of the useful protocol for credit payment in the Electronic market. Since, the delivery problem is conformed to delivery cooperation not payment problem, the classic SET protocol didn\`t consider about the certification of delivery. But the environment of electronic market be changed to manage the sold, delivery and payment etc.. In this paper, based on this consider, we propose a new SET protocol which has an function to verify the delivery based on SKP and verify it after analyzed by Petri nets. Specially, we consider SKP between Customer, Merchant, and Acquirer for improve the verify function.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.64 no.5
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• pp.667-679
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• 2015

The bearer of the power sector's ETS compliance cost is power consumer for the following reasons. Firstly, power companies are constrained in establishing appropriate strategies to comply with ETS regulations due to the structural differences between the domestic power market and emission trading system. In other words, because power companies do not have a right to determine price and production of electricity, they have to compete with other companies under disadvantaged conditions in the emission trading market. Secondly, because ETS compliance cost is part of power production costs as it is also clearly written in the national greenhouse gas reduction road-map and the second energy supply plan, the cost should be included in power price following the power market operation rule. Thirdly, the most effective method to reduce carbon emissions in power sector is to reduce power demand, which is efficiently achieved through raising power price to a realistic level. Low power price in Korea is the major cause of rising power demand which is also the major cause of rising GHG emission. Therefore, power sector's ETS compliance cost should be included in power price to encourage power consumers' actions on reducing power consumption. Fourthly, when externality cost occurs in the process of delivering public services, usually beneficiary pay principle is applied to identify the cost bearer. Since electricity is one representative public good, the bearer of power sector's ETS compliance cost is power consumer.

• Environmental and Resource Economics Review
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• v.29 no.1
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• pp.91-111
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• 2020

While the renewable energy portfolio standard (RPS) is in place to expand the scale of renewable energy generation, the power producer can obtain the renewable energy credit (REC) and use it as an incentive to operate the facility. RECs secured by solar power generation can be traded through spot market or fixed price contracts, and, in the spot market trading, power producers are exposed to the uncertainty of REC spot price. In this study, real option analysis is conducted to analyze the optimal threshold of REC spot price for the conversion of REC trading method by power producer considering the uncertainty of REC spot price. We calculated the optimal threshold of REC spot price that can convert the trading method of REC from spot market to fixed price contract. In conclusion, the spot market trading is a rational trading method when considering the uncertainty of REC price, but the fixed price bidding is a rational trading method when not considering the uncertainty of REC price.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.29
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• pp.143-172
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• 2006

This study focuses on the risk management of "Digital Goods" appeared with the progress of information technology(IT) in international transaction. As a result of that digital goods have a lot of uncertainty between the general goods or service which have been deal with object of international transaction broadly because digital goods hold uniqueness. In this study, the author give a definition of "Digital Goods" and make an examination of uniqueness of that in international transaction. Next, six risks are defined base on risk theory and risk analysis matrix applying risk mapping model is made. Conclusionally, risk transfer as insurance is adequate to manage business risk, security risk, credit risk and legal risk. Meanwhile, risk avoidance is adequate to manage reputation risk and market risk. But, this study have following three limits. Firstly, concerning definition of the risk, real case is not applied owing to lack of transaction data. Secondly, measuring of the risk is not based on absolute data but relative data. Lastly, suggesting way of risk management is not concrete and practical to international trader of digital goods.

• Korea Real Estate Review
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• v.28 no.2
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• pp.21-34
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• 2018

The purpose of this study is to investigate the effect of macro-finance variables on the correlation between the housing and stock markets because understanding the nature of time-varying correlations between different assets has important implications on portfolio allocation and risk management. Thus, we adopted the AG-DCC GARCH model to obtain time-varying, conditional correlations. Our sample ranged from January 2004 to November 2017. Our empirical result showed that the coefficients on asymmetric correlation were significantly positive, implying that correlations between the housing and stock markets were significantly higher when changes in the housing price and stock returns were negative. This finding suggested that the housing market has less hedging potential during a stock market downturn, when such a hedging strategy might be necessary. Based on the regression analysis, we found that the term spread had a significantly negative effect on correlations, while the credit spread had a significantly positive effect. This result could be interpreted by the risk premium effect.