• Magazine of the Korea Concrete Institute
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• v.7 no.6
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• pp.64-73
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• 1995

• Proceedings of the KOR-KST Conference
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• 1998.09a
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• pp.204-211
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• 1998

This paper reviewed the East Asia financial crisis, how China reacts to its impact, and what lessons should be learned from the crisis.

• Review of Korean Society for Internet Information
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• v.13 no.2
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• pp.9-12
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• 2012

• East Asian Journal of Business Economics (EAJBE)
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• v.6 no.3
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• pp.1-15
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• 2018

Purpose - This study investigates the effect of MNEs' characteristics on the use of foreign currency denominated debt in the context of Korean firms. This study examines the relationship between MNEs and the use of foreign debt focusing on the accessibility to the capital market in addition to the motive of hedging against foreign exchange exposure. Research design and methodology - Probit estimation is employed for estimating significant factors in determination of the use of foreign debt by firms. The dependent variable is a dummy variable to indicate whether a firm uses foreign debt or not at the end of 2004. Independent variables include foreign subsidiaries ratio, export to sale, R&D expenditure to sale, and credit rating. Results - The results show that the interaction between the level of internationalization represented by intra-regional diversification and the strategic characteristics embedded in the region of entry affects the use of foreign debt. In case of a high level of diversification within the developing region with a strong pursuit of asset exploitation, MNEs are more likely to use foreign debt, whereas a high level of diversification within the developed region with a strong pursuit of asset seeking, MNEs are less likely to use foreign debt. Conclusions - The differences between MNEs in terms of intra-regional diversification, strategic orientation, and the accessibility to capital markets as well as the hedging motive affect the use of foreign debt.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.51
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• pp.213-239
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• 2011

This article examines two important issues of the demand for payment by the beneficiary and the payment by the guarantor to the beneficiary under the revised Uniform Rules for Demand Guarantee (URDG) published by ICC, which are called URDG 758 and effected on July 1, 2010. Here, after first briefly defining the concept and nature of the demand for payment, this article discusses various issues surrounding the demand: By whom, where and how the demand has to be made; which documents are required in demanding the payment; how much amount can be demanded and paid; when and where the payment has to be made and which currency has to be used for the payment. The demand for payment has to be made by the beneficiary to the guarantor on or before expiry of the guarantee at the place of issuance of the guarantee unless any other place is specified in the guarantee. The demand has to be made in paper form unless the guarantee requires an electronic form. Unless otherwise expressly stipulated in the guarantee, the demand must be supported by a statement by the beneficiary indicating the applicant is in breach of the underlying contract. Also the demand must identify the guarantee under which it is made, and the time for examination by the guarantor starts on the date of identification. The demand cannot be for more than the amount available under the guarantee. When the demand is complying the guarantor must pay the amount demanded. The payment has to be made at the branch or office of the guarantor that issued the guarantee unless any other place is indicated in the guarantee. The payment has to be made in the currency specified in the guarantee, unless the guarantor is unable to make payment in that currency due to an impediment beyond its control or any illegality under the law of the place for payment. In case of "extend or pay" or "pay or extend" demands, the demand is deemed to be withdrawn if the extension is granted. But if not, the demand has to be paid without any further demand by the beneficiary.

• The Korean Journal of Financial Management
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• v.21 no.1
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• pp.125-148
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• 2004

This paper deals with the relationship between money supply and the stock market. However, unlike past works, it has employed a rational expectation hypothesis and an efficient market hypothesis drawn from new classical macroeconomics and new Keynesian macro-economics, respectively. Accordingly, hypothesis 1 states that if economic subjects have rational expectation, they will immediately respond to a change in money supply. On the other hand, hypothesis 2 supposes that the expectation of economic subjects has changed after the currency crisis. This paper has first identified unit root by using the augmented Dickey-Fuller test and the Phillips-Perron test, then testing both hypotheses by employing the Johansen Procedure and vector error correction model for the periods before and after a currency crisis.

• Journal of KIISE:Databases
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• v.31 no.2
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• pp.140-149
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• 2004

Data broadcast has received much attention as a very efficient method for disseminating data items in mobile environment with large number of mobile clients. In this approach, a database server periodically and continuously broadcasts data items through wireless channels and clients perform read-only transactions by accessing necessary data items from the air. While broadcasting, the server must also process update transactions on the database, which raises an obstacle for client's accessing consistent data. In this research, we propose a new algorithm SCDSC(Serialization Checking with DirtySet on Commit) which is an alternative for solving the concurrency control problem efficiently. The SCDSC is a kind of optimistic concurrency control in that a client checks the consistency of data using a DirtySet as a part of data broadcast when it commits its transaction. In each broadcast cycle, the server updates and disseminates the DirtySet with newly changed data items for last few cycles in the sliding window approach. We perform an analysis and a simulation study to evaluate the performance of our SCDSC algorithm in terms of data consistency and data currency.

• International Commerce and Information Review
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• v.15 no.1
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• pp.357-379
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• 2013

Recently, the government was introduced as currency for earning of raw materials purchasing system for electronic Government management of foreign trade in 2011, and revised regulations for electronic proof of purchase. In addition, the currency for earning of raw materials, such as procurement system in 2012, followed by electronic proof of purchase local letter of credit. The government electronic trading will be promoting local trading of electronic procedures. This study will be a preceding research on the goods control system for acquiring foreign currency and the obligation of using digitalized approval of purchase due to the revision of foreign trade law. Also, it will conduct theoretical and legal research regarding the obligation of digital establishment of the local L/C which is a result of amendments to the rules of operation for the Bank of Korea's trade finance. Further, it will analyze the legal and operational problems and its response plans for the establishment of the local trade integrated management system which promotes the digitalization of the local trade process.

• Journal of the Korean BIBLIA Society for library and Information Science
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• v.9 no.1
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• pp.221-240
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• 1998

This study concerns information quality of the database which has been produced in the ASKERIC database. The measures used in this study were accuracy of the records. consistency, completeness and currency. Accuracy was measurred in terms of the keywords used in different ways in the US and Britain and the spelling errors in the records. Consistency was measured in terms of 'see also' and 'see reference' mechanism and character capitalization. Completeness was measured as follows： completeness of the search fields in the record and relevance of search fields. Currency was measured using the publication date. The experimental result showed that ERIC databases had some errors in terms of accuracy. consistency. completeness and currency. However, continuous striving for the automatic error checking functions and the policy of feedback from users have contributed to the improvement of the quality in ERIC databases.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.9
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• pp.3827-3833
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• 2011

This paper performed empirical tests of the validity of the pecking order theory which explains financing behavior of firms under information asymmetry. The results of regression analyses using the data of listed manufacturing companies in the Korean Stock Market from 1981 to 2010 have shown strong evidences supporting the pecking order theory. Especially regression coefficients of change of debt on funds deficit and control variables were found to be almost (+1) with statistically significance, which is interpreted as being consistent with the pecking order theory. Same results were found when I performed regression analyses by dividing the sample period into pre-currency crisis period, currency crisis period and post-currency crisis period and using 2 regression models. Change of tangible asset were found to function as collateral rather than reducing information asymmetry and as the firm size decreased, use of debt increased and as profitability increased use of debt decreased, which are consistent with the pecking order theory.