• Journal of Korea Trade
• /
• v.24 no.5
• /
• pp.87-105
• /
• 2020

Purpose - The purpose of the study is to propose a theoretical framework of cross-border e-commerce ecosystems based on blockchain technology. The ecosystem includes five systems, namely, crossborder supply chain intelligent system, cross-border logistics system, cross-border payment system, cross-border product quality traceability system and cross-border customs supervision system. Design/methodology - This study firstly derived the main improvement factors for the new ecosystem based on blockchain through prior research and expert interviews on cross-border e-commerce. Then explored the use of virtue of decentralization, anti-counterfeiting traceability, consensus mechanism, smart contract and other means of the core technology of blockchain to overcome the bottleneck of cross-border e-commerce development among Korea, China, and Japan. Finally, proposed valuable implications in both theoretical and practical perspectives. Findings - As a result, we combined with the problems existing in cross-border e-commerce among Korea, China and Japan, this paper proposes a solution based on blockchain. On this basis, it constructs a cross-border e-commerce ecosystem among these three countries, including five systems. In addition, we discuss the main problems existing in the current blockchain, such as low transaction concurrency, security loopholes, and inconsistent standards, the corresponding countermeasures are proposed from the technical level, security level and industry standards. Originality/value - This study is the first to apply the blockchain technology to solve the cross-border e-commerce problems in Korea, China and Japan, which is of pioneering significance in both literature and practice. Block chain technology is in the ascendency. This study provides technical solutions for promoting the development of cross-border e-commerce import and export trade between Korea, China and Japan.

• Journal of Digital Convergence
• /
• v.13 no.1
• /
• pp.125-134
• /
• 2015

Cross-border M&A brings positive benefits to corporations and social economic development which can not been given by any investment ways, having greatly reduced the investment risks and costs to enter the host country market, resulting in the rapid development of the Cross-border M&A in china. This study examines the factors affecting firm performance of Cross-border merger and acquisition on Chinese manufacturing industry. This study chooses a sample of 31 Cross-border M&A in the manufacturing industry in China and the relevant data were collected during the period 2001 to 2007. The data were analyzed using a multiple regression analysis to identify the factors that affect Firm performance. It is found that the Firm performance is significantly affected by the oversea investment experience, cultural distance between countries, cost in M&A transaction and the number of transaction shares.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.6
• /
• pp.43-54
• /
• 2020

This paper investigates the causal impact of the increase in institutional distance between two geographic regions on the flow of cross-border Venture Capital (VC) between the regions. While cross-border VCs are believed to have competitive advantages at identifying and managing promising startups in a local market compared to local counterparts, the discrepancy in institutional characteristics between two markets exacerbates the difficulty of credible information exchange and negotiation, significantly increasing transaction cost related to a cross-border venture capital investment. This study conducts a difference-in-difference analysis to examine the relationship between institutional distance and the flow of cross-border VC investment using the fact that the official adoption of the Euro currency by member countries of the European Union except the UK created an institutional chasm between the UK and other EU member countries. The outcomes of the analysis suggests that UK-based VCs significantly decreased the VC investment into EU-based startups and that EU-based VCs reduced the investment into UK-based startups. The results have meaningful implications for understanding the impact of the change in institutional difference on cross-border VC investment, which seems to increasingly take place with the recent trend of de-globalization and the rise of protectionism.

• International Commerce and Information Review
• /
• v.10 no.1
• /
• pp.139-154
• /
• 2008

This research want to discuss some issues about payment system of America. This research focuses on comparing ACH with Fedwire. Firstly Fedwire is the payment system for only large-dollar transfer(Large-Value Transfer System; LVTS), while ACH(Automated Clearing House)payment mainly applies a consumer account. Secondly ACH transaction is either credit or debit transfer, while Fedwire is only credit transfer. Thirdly the communication system of Fedwire has twoway method, telephonelike communication network, but ACH is oneway store and forward electronic mail. At present LVTS divides into RTGS(Real-Time Gross Settlement) and DNS(Deferred Net Settlement). However Fedwire uses either RTGS(instantaneous for every transaction) or DNS(net net transaction) but ACH uses only DNS(net net transaction). Fourthly ACH is substantially cheaper than the Fedwire payment. lastly security is important in both Fedwire and ACH, it is even more crucial in Fedwire In addition, for each transaction, Fedwire may entail individual instantaneous confirmation to the originator and notification to the receiver, whereas ACH do not.

• Journal of Arbitration Studies
• /
• v.33 no.3
• /
• pp.95-106
• /
• 2023

This informative piece delves into the intriguing and crucial history of third-party funding in Nigeria and its application in the Arbitration and Mediation Act of 2023. The article analyses the impact of this funding on cross-border transactions while addressing concerns about mandatory disclosure. The absence of remedies or sanctions for non-disclosure is also a matter of concern that warrants thoughtful examination. The article looks closer at the role of courts, tribunals, and arbitral institutions in addressing gaps in the Act. Ultimately, it presents a well-considered set of recommendations for moving forward. Overall, this piece provides a comprehensive and insightful look into the intricate world of third-party funding and its significance within the Nigerian legal system.

• Korea Trade Review
• /
• v.41 no.2
• /
• pp.61-96
• /
• 2016

This study investigates the effects of M&A experience of Chinese firms and characteristics of deal partners in cross border M&A deal failures. 1,610 firms that participated in 1,558 cross border M&As from 2000 to November 2015 are used as samples. The dependent variable is the M&A transaction failures, which were cases of deal pending or withdrawal of Chinese firms. Major independent variables are the nationality diversity of transaction partner firm, the partner firm belonging to a developed country, domestic M&A experience of the Chinese firms, M&A experience in a particular target country, etc. After conducting a probit model analysis, we find that deal partner firm's nationality diversity increases the failure rate of M&A. While prior domestic M&A experience in China has no influence on deal failure, prior M&A experience of Chinese and focal firms in a particular country have a negative effect on the probability of deal failure. This study has academic implication on figuring out why firms are likely to fail in the process of strategic activities based on the inter-organizational learning through partnerships perspective.

• International Commerce and Information Review
• /
• v.11 no.2
• /
• pp.233-257
• /
• 2009

The 21st century is witnessing the explosive increase in the usage of internet and international electronic transactions. Due to the unique characteristics of the electronic information, substantial part of such transaction can and do take the form of cross-border transactions. However, there have not been settled appropriate set of rules applicable to the international electronic transactions. Currently, in respect to e-L/C transactions in international trade, there are laws such as Electronic Transaction Basic Act in our country, E-Trade Promotion Act, E-Signature Law, Act on Promotion of Information and Communication Network Utilization and Information Protection and Marine Charter 5 in the Commercial Law. Nevertheless, a complete legislation, that is a uniform rule for e L/C which could support e L/C transactions fully hasn't been established yet. Accordingly, those laws concerned need to improve to regulate e-L/C transactions. The purpose of this paper is to look into the national status for law readjustment to prepare for a new electronic environment and to use appropriately the e-L/C issued by electronic means, and to conduct a comparative analysis on the related regulations to introduce a pertinent laws and propose related regulations to contribute to the making of effective laws to regulate e-L/C.

• The Journal of Information Technology
• /
• v.4 no.4
• /
• pp.113-128
• /
• 2001

The international trade industry is on the brink of a radical Internet-driven transformation. TradeCard is a payment and settlement system that is an alternative to letters of crdeit. That is, TradeCard is a business-to-business e-commerce infrastructure that enables buyers and sellers to conduct and settle international trade transactions securely over the Internet. Paperless, payment-guaranteed international trade transactions - which eliminate the traditional letters of credit with electronic certifications - are widely considered the most difficult B2B transactions to conduct. The TradeCard system was initially built to accommodate and process this complex, cross-border payment type at a US$100 service fee for each transaction of up to US$100,000 since November 1999.

• Journal of Arbitration Studies
• /
• v.28 no.4
• /
• pp.89-110
• /
• 2018

The purposes of this study are as follows: First, this study reviews the Online Dispute Resolution (ODR) regulations of the EU to resolve disputes which can arise in international e-commerce in the future. Second, this study tries to seek out alternative solutions to dispute resolutions based on these regulations. Third, this study increases the efficiency of the transactions by proposing effective and satisfactory dispute resolution methods for international e-commerce. First, this study reviews the concept of cross-border e-commerce, generally explores ODR, and creates comparisons with Alternative Dispute Resolution (ADR). Subsequently, this study looks into domestic ODR system and analyzes the regulations of EU ODR. This study suggests the implications of the European ODR regulations in the conclusion. The EU ODR platform is considered greatly significant in that it has increased the possibility of settlements in small disputes by enhancing consumers' accessibility to ADR procedures. Therefore, this thesis proposes a method for Korean companies to resolve disputes that may arise in e-commerce with EU by using the ODR platform. As a result, it is expected to increase the competitiveness of Korean companies in the EU market. Both legislative trends related to the ODR of the EU and establishment of the EU ODR platform have significant implications for Korean businesses in Europe. This study is expected to be useful for our businesses in the EU in reviewing the applicability of the EU ODR regulations and the dispute settlement procedures through the EU ODR platform. In addition, this study is expected to prove useful in relation to consumer protection by enhancing consumers' accessibility to dispute settlement institutions in domestic electronic commerce.

• Journal of Arbitration Studies
• /
• v.28 no.2
• /
• pp.249-275
• /
• 2018

Today's Internet environment is growing rapidly, and transactions based on it are also rapidly increasing. E-commerce allows merchants and consumers in different countries to easily trade goods across borders. However, the increase in international consumer transactions through the Internet is accompanied by an increase in disputes. International consumer transactions are characterized by a distinction among long distance, small sum, and different jurisdictions. International consumer transactions cannot be solved only by way of resolving disputes in past international transactions. The best way to resolve disputes between international carriers and consumers is through the Internet. In this regard, UNCITRAL has been preparing to enact legislation on ODR as a solution to international electronic trade disputes and, as a result, UNCITRAL adopted guidelines for operating the ODR procedure for building the ODR platform. The European Union has also increased its disputes in the European Union, which is active in the intra-regional market. Institutional improvements were made to solve this problem; therefore, the European Union (EU) has enacted the ODR Regulations for EU consumer disputes. Based on such, this study constructed the ODR platform, which is used as a way to resolve consumer disputes in the regional market.