• The Journal of Information Systems
• /
• v.14 no.2
• /
• pp.1-23
• /
• 2005

Theoretically, both of fund transfer and balance inquiry which are typical Internet banking services are influenced by the beliefs on the use of Internet banking such as perceived risk and convenience, which have been shown as in the other studies. However, the use of fund transfer can be more sensitive than that of balance inquiry by the beliefs on Internet banking use since the former is not only more risk involved but also more complicated in using than the latter. The objective of this study is to analyze the relationship between the use of two Internet banking services-fund transfer and balance inquiry-and the beliefs on Internet banking use-security risk, convenience and social Influence. For this purpose, we provide the research model for explaining the difference between balance inquiry and fund transfer in the degree of influencing by security risk, convenience and social influence and test it empirically by collecting data from surveying for 206 internet banking users. In result, we show validity of the suggested model by Partial Least Square(PLS) approach.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.1
• /
• pp.563-572
• /
• 2021

This study aims to investigate the implementation of village fund (VF) policy in Indonesia by addressing the following issues: (1) what is the VF policy; (2) factors that support and hinder policy implementation; (3) impact of policy implementation; and (4) model for implementing village fund policies that can improve community welfare. Through a descriptive qualitative-based approach, several indicators are measured, namely, the substance of implementing rules, the results of project implementation, supporting and inhibiting factors for policies, participation factors, and the impact generated by village fund policies, which include social and economic effects. The extraction of this information and indicators will lead this study to produce ideal models and propositions for quantitative confirmatory research as a future research agenda. This study was conducted in two villages (Mojomulyo and Tambakromo) in Pati District, Central Java, Indonesia. Data collection model using interviews and observations from all actors who play a role (e.g., village government, village supervisory agency, and community). The study results show that policies have been implemented by normative rules; there are several supporting and inhibiting factors both internal and external. The study results also confirm the relevance of the articulated theory and some comprehensive input to our study.

• Journal of Convergence for Information Technology
• /
• v.8 no.1
• /
• pp.301-312
• /
• 2018

The purpose of this study is to propose strategies for enhancing competitiveness through the utilization of policy funds, especially in the start-up companies supported by the Korea Credit Guarantee Fund. And then, the Korea Credit Guarantee Fund should develop 'user-centered policy funding model' in order to increase start-up's utilization of policy fund and support start-ups that are supported in the long run. The competitiveness of domestic start-up companies has been strengthened by 'user-centered policy funding model' and new innovations have been introduced through 'Living Lab', an open innovation. But, in order to overcome the limitation of reaching the stage of commercialization, the 'user-centered policy funding model' proposed in this study enables start-ups to be the subject of actual policy funding, and also allows users to freely apply for necessary funding at any time. Therefore, the Korea Credit Guarantee Fund has a significance in suggesting 'user-centered policy funding model' as a support model to be customized. However, since SMEs recognize the actual situation and limit acceptance of all the difficulties, the systematic analysis of the actual situation of the policy funds of the start-up by the credit guarantee fund and the related support institutions for the scientific approach of the user-oriented policy funding model need.

• Asia-Pacific Journal of Business
• /
• v.4 no.2
• /
• pp.41-53
• /
• 2013

Undoubtedly, the basic sinking fund formula gives the future value of a series of equal installments. The main underlying assumption for using this formula is that installment and compounding frequency must be in equal interval. But when installment for a deposit scheme or any other savings scheme and compounding frequency do not occur in an equal interval, which is treated as the complex annuity problems in Finance Literature, the basic sinking fund formula does not give the accurate result. As a result, the obtainable amount from different deposit schemes offered by different banks and financial institutions does not match with the amount of future value calculated through the basic sinking fund formula by the investors or savers. This study focuses the concealed facts for such type of mismatches in values and at the same time it provides a solution through developing a new formula by extending the basic formula intended not only to remove those mismatches but also get the accurate future value from a sinking fund provision in case of complex annuity. Besides, since banks and financial institutions calculate the interest on the average amount of equal installments deposited within a period of time due to complex annuity, the study also formulates an arithmetic formula for calculating the average amount of installment.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.15
• /
• pp.59-87
• /
• 2001

In recent years electronic fund transfers covered by the Electronic Fund Transfer Act 1978 for consumer protection and the Article 4A of Uniform Commercial Code(U.C.C.) 1989 for wholesale electronic payments in United States. Electronic fund transfers carried out by use of a wire transfer network, automated clearing house, or other communication system of a clearing house or other association of banks such as direct deposit, Fedwire, automated teller machine, point-of-sale, and credit card transactions have been increasingly common in consumer transactions and wholesale transactions. Especially, the Article 4A of U.C.C. governs the rights and obligations associated with transactions such as an issue and acceptance of payment order, execution of sender's payment order by receiving bank, and payment. These legal frameworks in connection with electronic fund transfers in United States can play a leading role in establishing model not only within the United States, but also as a basis for developments of electronic commerce law in Korea including other countries.

• Journal of the Korea Society of Computer and Information
• /
• v.15 no.5
• /
• pp.143-151
• /
• 2010

The purpose of this research paper is to provide to alternatives to improve the fiscal issue of current local government fund system of through empirical factor analysis. The method of this study is to survey residents and public officers. The meaning of local government fund system is to enhance the roll of local community effectually and to practice democratically and efficiently through continuing support to special project, But in general, Fund must be applied under certain restrictions in the field not to attain it's objects within budget accounting system, The reform of fund managemental application must to achieve before fixing an abuse out of fund system. According to this factor analysis, a strategic aspect to enhance the democracy and efficiency of fund system must be search actively.

• The Korean Journal of Financial Management
• /
• v.27 no.2
• /
• pp.169-204
• /
• 2010

This paper examines the dynamic relationship between fund flow and market risk at the aggregate level and explores whether sudden sharp changes in fund flow (fund run) can cause a systemic risk in the Korean financial markets. We use daily and weekly data and regression and VAR analysis. Main results of the paper are as follows: First, in the stock market, a concurrent and a lagged unexpected fund flows have a positive relationship with market volatility. A positive shock in fund flow predicts an increase in stock market volatility. In the bond market, an unexpected fund flow has a negative relationship with the default risk premium, but a positive relationship with the term premium. And an unexpected fund flow of the money market fund has a negative relationship with the liquidy risk, but the explanatory power is very low. Second, for examining whether changes in fund flow induce a systemic risk, we construct a spillover index based on the forecast error variance decomposition of VAR model. A spillover index represents that how much the shock in fund flow can explain the change of market risk in a market. In general, explanatory powers from spillover indexes are so fluctuant and low. In the stock market, the impact of shocks in fund flow on market risk is relatively high and persistent during the period from the end of 2007 to 2008, which is the subprime-mortgage crisis period. In bond market, since the end of 2008, the impact of shocks in fund flow spreads to default risk continually, while in the money market, such a systematic effect doesn't take place. The persistent patterns of spillover effect appearing around a certain period in the stock market and the bond market suggest that the shock to the unexpected fund flow may increase the market risk and can be a cause of systemic risk in the financial markets. However, summarizing the results of regression and VAR model analysis, and considering the very low explanatory power of spillover index analysis, we can conclude that changes in fund flow have a very limited power in explaining changes in market risk and it is not very likely to induce the systemic risk by a fund run in the Korean financial markets.

• Journal of Climate Change Research
• /
• v.7 no.1
• /
• pp.85-93
• /
• 2016

This study the efficiency of greenhouse gas reduction of 'low carbon car collaboration fund' and its alternative 'control of average fuel efficiency and greenhouse gas', and 'improving driving behavior' were analyzed by using LEAP, long term energy analysis model. Total 4 scenarios were set, baseline scenario, without energy-saving activity, 'low carbon car collaboration fund' scenario, 'fuel efficiency improving scenario', and 'improving driving behavior' scenario. The contents of analysis were forecast of energy demand by scenario and application as well as reduction of greenhouse gas emission volume, and the period taken for analysis was every 1 year during 2015~2030. Baseline scenario, greenhouse gas emission volume in 2015 would be 7,935,697 M/T and 13,081,986 M/T in 2030, increased 64.8%. The analysis result was average annual increase rate of 3.4%. The expected average annual increase rate of other scenarios was, 'low carbon car collaboration fund' scenario 1.7%, 'fuel efficiency improving' scenario 3.0%. and 'improving driving behavior' scenario 3.4%. and these were each 1.7%, 0.3%. 0.3% reduce from baseline scenario. The largest reduction was 'low carbon car collaboration fund' scenario, and there after were 'fuel efficiency improving scenario', and 'improving driving behavior' scenario.

• Journal of Convergence for Information Technology
• /
• v.11 no.2
• /
• pp.82-89
• /
• 2021

The objective of this study is to propose a new Glide Path that dynamically adjusts the risky asset inclusion ratio of the Target Date Fund by simultaneously considering the market's forecast volatility as well as the time of investor retirement, and to compare the investment performance with the traditional Target Date Fund. Forecasts of market volatility utilize historical volatility, time series model GARCH volatility, and the volatility index VKOSPI. The investment performance of the new dynamic Glide Path, which considers stock market volatility has been shown to be excellent during the analysis period from 2003 to 2020. In all three volatility prediction models, Sharpe Ratio, an investment performance indicator, is improved with higher returns and lower risks than traditional static Glide Path, which considers only retirement date. The empirical results of this study present the potential for the utilization of the suggested Glide Path in the Target Date Fund management industry as well as retirees.

• Journal of Korean Society of Rural Planning
• /
• v.21 no.1
• /
• pp.77-87
• /
• 2015

In this study, we try to quantify resident's conflict by rural development project based on previous researches about community capacities required for residents and social networks in rural village for suggesting efficient project model. we analyzed conflict elements in six category such as 'conflict in residents', 'conflict in residents and leaders', 'conflict in leaders', 'conflict in villages', 'conflict in development fund', 'conflict in village by common income project'. These results also analyzed by personal background(age, role, education, income) of respondent in questionary survey. Results show that 'conflict in residents and leaders', 'conflict in leaders', 'conflict in development fund' are perceived differently by age, role, education, and income in 5% significance level. Especially, relatively young age(below 40 years old) expressed clearly about conflict and high scored in item of 'residents and leaders'. Regression model show statistical significance(F=39.807, P=0.000) in influence relation analysis of conflict, network, leadership, and project fund. In this model, network ${\beta}=-0.237$, leadership ${\beta}=-0.375$, project fund ${\beta}=-0.000$ show network and leadership have negative relation to conflict but project fund is difficult to find relation with conflict. In this study, we defined social vulnerability using conflict, network, and leadership and verified the vulnerability of rural village applying regional community capacity in analysis results; vulnerability increased by the size of region and show inverse correlation to future vision of residents.