• International Area Studies Review
• /
• v.12 no.2
• /
• pp.79-97
• /
• 2008

After entering into the WTO in October, 2001, China started opening her bank industry on a full scale and her financial markets from the end of 2006. It is true that the Chinese commercial banks should make efforts to enhance their operational efficiency for adapting the rapid change of financial environments. In this paper, the efficiency of 4 Chinese state-owned commercial banks and 11 share holding commercial banks has been estimated. Our Tobit model to find out the determinants of these banks' efficiency. The results are as follows: The efficiency of these banks kept being improved from 1999 to 2003. With regard to the relationship between the determinants and the bank efficiency, their capital ratios, ownership structures and government subsidies are significant at the 5% level while the return on asset(ROA) is significant at the 10% level. The relationship between the determinants and the efficiency has showed that the size, capital ratios, ROA and ownership structure showed significantly before the entry to WTO, on the other hand, after WTO their capital ratios are the only factor to determine their efficiencies.

• Journal of the Korea Institute of Information Security & Cryptology
• /
• v.22 no.3
• /
• pp.637-644
• /
• 2012

In our current information focused society, information is regarded as a core asset and the leakage of customers' information has emerged as a critical issue, especially in financial companies. It is very likely that the technology that safeguards which is currently in commercial use is not focused at an enterprise level but is fragmented by function or by only guards portions of a customer's personal information. Therefore, It is necessary to study the systems which monitor the indicators of access at an enterprise level in order to preemptively prevent the compromise of such data. This study takes an enterprise perspective on such systems for a financial company. I will focus on examination of the methods of implementation of the monitoring system, the application of pattern analysis and examination of Security Risk Indicators (SRI). A trial of the monitoring system provided security managers and related departments with proper screening capabilities of information. Therefore, it is possible to establish a systemic counter-plans based on detectable patterns.

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

• The Korean Journal of Applied Statistics
• /
• v.34 no.1
• /
• pp.39-56
• /
• 2021

Many researches have been done on portfolio optimization since Markowitz (1952) published a diversified investment model. Markowitz's mean-variance portfolio optimization problem is established under the assumption that the distribution of returns follows a normal distribution. However, in real life, the distribution of returns does not follow a normal distribution, and variance is not a robust statistic as it is heavily influenced by outliers. To overcome these potential issues, mean-shortfall portfolio model was proposed that utilized downside risk, shortfall, as a risk index. In this paper, we propose a perturbation method that uses the shortfall as a risk index of the portfolio. The proposed portfolio utilizes an adaptive Lasso to obtain a sparse and stable asset selection because it can reduce management and transaction costs. The proposed optimization is easily applicable as it can be computed using an efficient linear programming. In our real data analysis, we show the validity of the proposed perturbation method.

• Journal of Korea Trade
• /
• v.24 no.7
• /
• pp.38-53
• /
• 2020

Purpose - A financial crash triggers asset fire sales by foreign investors and, as a consequence, the price of domestic assets severely decreases. Domestic investors take advantage of these low prices by replacing foreign assets with domestic assets, which helps to alleviate the liquidity shock caused by foreigners. However, is the amount of capital retrenchment by domestic investors sufficient to protect the Korean economy from capital stop by foreign investors during financial crisis? This paper answers this question and suggests the implications of this phenomenon for the Korean economy. Design/methodology - We estimate the associations between capital stop and retrenchment and various financial crises such as banking, currency, debt, and inflation crises using the complementary log-log model. Specifically, we use data of gross capital flows to differentiate between the role of foreign and domestic investors in financial markets. Capital stop and retrenchment designate a sharp decrease in gross capital inflows and outflows, respectively. Findings - Capital stop is significantly associated with financial crises, especially currency and debt crises. This implies that increased risk aversion during times of financial turmoil encourages foreign investors to retrench their investments, worsening liquidity shocks. Conversely, capital retrenchment is not significantly associated with such crises. The results show that, although financial crises reduce gross capital outflows, the reduction is not as large as that with capital inflows. Originality/value - The contribution of this paper is threefold. First, this study investigates how domestic investors behave during times of financial distress by studying gross capital flows-not net capital flows. Second, we concentrate on sharp changes in capital flows during crises. Third, we examine the associations between capital stop and retrenchment and financial crises in general, not specific events.

• Journal of Korea Entertainment Industry Association
• /
• v.15 no.5
• /
• pp.19-31
• /
• 2021

This study investigates how domestic entertainment companies' CSR activities, risk management, and producing abilities affect consumers' perception of their integrated brand assets. A survey was conducted on college students enrolled in a four-year university, and a total of 423 data were used for analysis. The result indicates the following. First, consumer evaluation of economic activity and philanthropic activity showed a positive causal relationship with the perception of integrated brand assets. Second, the higher the risk management and producing ability on evaluation of entertainment companies, the more positive the perception of integrated brand assets. Third, the main effect of producing ability was found to be significant among the four companies. In addition, regardless of the evaluation level of CSR activities and risk management, the group with a high producing ability evaluation showed a higher perception of integrated brand assets than the group with a low level of evaluation.

• Atmosphere
• /
• v.33 no.2
• /
• pp.173-195
• /
• 2023

Research papers in the field of atmospheric environment published in three Journals: Journal of Korean Meteorological Society, Atmosphere, and Asia-Pacific Journal of the Atmospheric Sciences, are all summarized over period of 60 years since the establishment of Korea Meteorological Society (KMS) in 1963. In addition, current research trends and future outlook in the atmospheric environment field has been also highlighted. The results of historical records published in three KMS journals indicated that the activities, contents, and scope of researches carried out by KMS members in the field of atmospheric environment have yielded the enormous and rapid progress in each of the all four areas over 60 years. In particular, as the chronological progress of observational instruments and availability of satellite data such as from GEMS can be a great asset to deepen the observational and modeling researches in the current and future studies, it is highly anticipated that the more progressive and in-depth studies can be achievable to abate the air pollutants over the Korea as well as northeast Asia.

• Journal of Information Technology Applications and Management
• /
• v.30 no.1
• /
• pp.115-126
• /
• 2023

In various fields such as art, design, music, film, sports, games, and fashion, NFTs (Non-Fungible Tokens) are creating new economic value through trading platforms dedicated to NFT art and content. In this article, I analyze the current state of blockchain technology and NFT art content in the context of an expanding market for blockchain-based NFT art content in the metaverse. I also propose several tasks based on the economic and industrial logic of technological innovation. The first task proposed is to integrate cultural arts on blockchain, metaverse, and NFT platforms through digital innovation, instead of separating or distinguishing between creative production and consumption. Before the COVID-19 pandemic, there was a clear separation between creators and consumers. However, with the rise of Web 3.0 platforms, any user can now create and own their own content. Therefore, it is important to promote a collaborative and integrated approach to cultural arts production and consumption in the blockchain and metaverse ecosystem. The second task proposed is to align the legal framework with blockchain-based technological innovation. The enactment and revision of relevant laws should focus on promoting the development of the NFT trading platform ecosystem, rather than merely regulating it for user protection. As blockchain-based technology continues to evolve, it is important that legal systems adapt to support and promote innovation in the space. This shift in focus can help create a more conducive environment for the growth of blockchain-based NFT platforms. The third task proposed is to integrate education on digital arts, including metaverse and NFT art contents, into the current curriculum. This education should focus on convergence and consilience, rather than merely mixing together humanities, technology, and arts. By integrating digital arts education into the curriculum, students can gain a more comprehensive understanding of the potential of blockchain-based technologies and NFT art. This article examines the digital technological innovation such as blockchain, metaverse, and NFT from an economic and industrial point of view. As a limitation of this research, the critical mind such as philosophical thinking or social criticism on technological innovation is left as a future task.

• Journal of the Korea Convergence Society
• /
• v.13 no.1
• /
• pp.365-373
• /
• 2022

The purpose of this study is to determine the effect of concurrent appointment as a director on the quality of the internal accounting management system (IACS). For analysis, 9,343 KOSPI & KOSDAQ company-year data from 2014-2019, excluding the financial industry, were used. As a result of the analysis, it was confirmed that the quality of IACS decreased as the number of multiple positions in the director increased. Although there is a difference in the roles of inside and outside directors, it was found that the quality of IACS decreases equally as the number of board members. According to the business hypothesis, this can be said to be the result of the agency problem within the company because directors, who were more busy with concurrent positions as directors, did not put sufficient effort into their work. This study suggests that information on the concurrent position of directors can be a new indicator that reflects the characteristics of the board in evaluating the effectiveness of corporate governance.

• The Journal of The Korea Institute of Intelligent Transport Systems
• /
• v.22 no.3
• /
• pp.62-72
• /
• 2023

Recently, the importance of monitoring and management measures for bicycle road related facilities has been increasing. However, research on the monitoring and evaluation of users' safety and convenience in walking spaces including bicycle path is insufficient. In this study, we would like to construct health monitoring data for cylists-pedestrians mixed road using a mobile mapping system, and propose a plan to calculate the level of service of the mixed roads from the perspective of pedestrians and cyclists using artificial intelligence based object detection techniques. The monitoring and level of service calculation method of cylists-pedestrians mixed roads proposed in this study is expected to be used as basic information for planning and management such as maintenance and reconstruction of walking spaces in preparation for the increase of electric bicycles and personal mobility in the future.