• KDI Journal of Economic Policy
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• v.33 no.4
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• pp.27-48
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• 2011

This paper investigates the extent of global and regional integration in East Asia using stock price index as a measure of economic performance. We employ a structural VAR model to separate the underlying shocks into "global", "regional" and "country-specific" shocks. The estimation results show that country-specific shocks still play a dominant role in East Asia although their role appears to have declined over time, especially after the 1997 financial crisis. Global and regional shocks are responsible for small but increasing shares of stock price fluctuations in all countries. The results indicate that the stock markets in East Asia remain dissimilar and are subject to asymmetric shocks in comparison to European countries.

• The Korean Journal of Financial Studies
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• v.3 no.1
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• pp.179-211
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• 1996

This study examines whether trading mechanisms or market microstructures of markets have an effect on the integration issue of the international equity market. If the international equity market is integrated, identical stocks listed on different international stock exchanges should have the same rates of return, the same characteristics of stock price behavior and similar distributions of return. If different market microstructures, or trading mechanisms cause differences in characteristics of stock price behavior, those can lead to different rates of return because of different liquidity risk for the same stocks between markets. This study proposes international asset pricing with liquidity risk related to trading mechanisms. Systematic risk by itself cannot predict the sign of expected rate of return difference for the same stocks between international markets. Liquidity risk factors related to market microstructure provide explanations for the sign of rate of return differences between markets, However, liquidity risk factors related to market microstructure do not have a significant effect on the rate of return differences and sensitivity of return differences between markets, Trading mechanisms or market microstructures might not have a significant effect on the interpretation of the international equity market integration studies, if trading volume or other factors are controlled.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.18 no.7
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• pp.1764-1776
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• 2014

This study is the context about an introduction of a bookkeeping by double entry & accrual base accounting which is the turning point of National Accounting and defense integrated financial management which is delivered following system Digital Budget Accounting system, in other words about something to do with the improvement of efficiency of financial information data. National defense Integration Financial Information system (NDIFIS) facilitates Project program management and makes the whole process of Defense financial Business manageable in one system. Also, there is a purpose to increase the credibility and transparency of National defense finances by providing internal and external information users with credible financial statements and cost materials. By using data envelopment analysis (DEA) which is a useful method to measuring the efficiency of organization, this study aims to improve the financial information data efficiency by comparing the efficiency of the same type troops and when it comes to the inefficient troops, by offering the certain objective of efficiency.

• Journal of Distribution Science
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• v.14 no.6
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• pp.99-106
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• 2016

Purpose - The antecedent to the relationship between the effect of the characteristics of strategic alliances and the performance of container liner shipping companies has been investigated in this study as container liner shipping companies' strategic alliances. It affects positively and negatively home, partner, and the third parties' performance in container liner shipping companies. Extensive literature reviews on shipper's strategic alliances reveal that strategic alliances in financial and non-financial performance of container liner shipping companies show the performance such as economic effects, business performance, global supply chain management performance, customer satisfaction, and forward integration and backward integration performance. The purpose of this study is to test empirically that the relationship between the characteristics of strategic alliances and financial and non-financial performance in container liner shipping companies. Structured equation modeling and confirmatory factor analysis were used to test the hypothesis using AMOS statistics program. Most previous researches focused on the relationship between the characteristics of strategic alliances and alliance types. There are few empirical studies that focus on business performance data because it is difficult to collect data in container liner shipping companies. However, this research measures financial and non-financial performance differently compared with the previous researches focusing on the characteristics of strategic alliances and alliance types measurements. Research design, data, and methodology - The conceptual model for the study is based on the studies of Lim (2010), Chen & Zhen (2009), and Wang & Meng (2014). The model is built around the factors of characteristics of strategic alliances and business performance. Cost, marketing, and service factors are regarded as proxy for the characteristics of strategic alliances. The financial and non-financial performance are regarded as proxy for the performance of strategic alliances. Based on the analysis of one hundred cases such as forwarder, shipper, and liner shipping companies, this study uses structural equation modeling to verify the effects of the characteristics of strategic alliances on business performance. Conclusions - This study provides container liner shipping companies to get some policy and practical implications in terms of the characteristics of strategic alliances and business performance. First, the cost factor for alliances characteristics has a positively significant influence on the financial and non-financial performance of strategic alliances. The cost factor relationship between high and low performance group does not have a significant difference on the performance of strategic alliances. Second, the marketing factor of alliances characteristics has a positively significant influence on the financial and non-financial performance of strategic alliances. The high performance group's marketing factor has a great non-financial performance than low performance group, but the low performance group's marketing factor has a grater financial performance than high performance group factor does. Third, the service factor of alliances characteristics has a negative influence on the non-financial performance of strategic alliances. The high performance group's service factor has a great non-financial performance than low performance group. Based on the findings from this study, related implications and future avenues deserve to be discussed.

• Industrial Engineering and Management Systems
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• v.4 no.2
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• pp.207-217
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• 2005

Business mergers are a direct result of rapid changes in the current corporate environment. They are occurring in many industries, including financial institutions. As information systems prove increasingly indispensable in the integration of companies’ business systems, information system integration is becoming increasingly necessary. However, in many cases such integration does not work well. Therefore, this paper proposes a new framework using both IS integration model and IS integration phases to analyze systems failure in IS integration.

• The Journal of Society for e-Business Studies
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• v.26 no.4
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• pp.119-131
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• 2021

With the boom of platform businesses, digital transformation has become the most important topic for businesses. Digital transformation has now become the most urgent strategy for survival, from a strategy considered as an option to choose in the past. Many companies are desperately seeking the ways to be digitally transformed. Even though there have been many studies on digital transformation, most of them are on strategic and conceptual model levels based on simple case analyses. In this study, we analyze the benefits of data integration and network effects from it, based on platform business model at the core of digital transformation. The change based on platform can be categorized into the internal one for the integration of data and better decision making, and the external one for the expansion of the businesses and better prediction of consumer behaviors through the integration of external data sets by the platform business model based enterprises. While the progress for digital transformation is not mature enough yet, financial industry is one of the most promising industries for the change and realization of the aim of it with its relatively much more advanced IT infrastructure. Many companies are making various efforts for the integration of external data, and if the good results can be accomplished, financial industry will contribute to the advancement of digital transformation in other industries as well. For "My Data" project by Korean government, we suggest the data structure and transaction of data (of Korea) should be advanced and established more quickly.

• Journal of the Korea Safety Management & Science
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• v.10 no.2
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• pp.71-83
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• 2008

Most researches on the corporate credit rating are generally classified into the area of bankruptcy prediction and bond rating. The studies on bankruptcy prediction have focused on improving the performance in binary classification problem, since the criterion variable is categorical, bankrupt or non-bankrupt. The other studies on bond rating have predicted the credit ratings, which was already evaluated by bond rating experts. The financial institute, however, should perform effective loan evaluation and risk management by employing the corporate credit rating model, which is able to determine the credit of corporations. Therefore, in this study we present a medium sized corporate credit rating system by using Artificial Neural Network(ANN) and Analytical Hierarchy Process(AHP). Also, we developed AHP model for credit rating using non-financial information. For the purpose of completed credit rating model, we integrated the ANN and AHP model using both financial information and non-financial information. Finally, the credit ratings of each firm are assigned by the proposed method.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.1-13
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• 2020

This study analyzes the key drivers (commitment, integration of big data, green supply chain management, and green human resource practices) of sustainable capabilities and the influence to which these sustainable capabilities impact the banks' environmental and financial performance. Additionally, this study analyzes the impact of green management practices on the integration of big data technology with operations. The theory of dynamic capability was deployed to propose and empirically test the conceptual model. Data was collected through a self-administrated survey questionnaire from 319 participants employed at 35 banks located in six ASEAN countries. The findings indicate that big data analytics strategies have an impact on internal processes and banks' sustainable and financial performance. This study indicates that banks committed towards proper data monitoring of its clients achieve operational efficiency and sustainability goals. Moreover, our results confirm that banks practising green innovation strategies experience better environmental and economic performance as the employees of these banks have received advance green human resource training. Finally, our study found that internal and external green supply chain management practices have a positive impact on banks' environmental and financial performance, which confirms that ASEAN banks contributing in reduction of environmental impact through its operations will ultimately experience increased financial performance.

• East Asian Economic Review
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• v.20 no.1
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• pp.37-65
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• 2016

This research intends to investigate the progress made in East Asian bond market integration thus far. Price-based measures (AAD indicator and beta-convergence measure), quantity-based measures and econometric techniques (co-integration test, error correction model based Granger causality test) are employed in the analysis. Even though East Asian government bond markets have become more integrated since 2001, the differentials among the markets still remain significantly high. The bond market integration process seems slow. The convergence of bond markets sped up in 2003 and after the 2008 world financial crisis, implying the important role of government policies in integrating the regional bond markets. East Asian bond market integration may need more government-directed measures.

• Information Systems Review
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• v.3 no.2
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• pp.387-398
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• 2001

Effectively integrating information systems in mergers and acquisitions of large organizations can be critical to merger success. But the general literature on M&A focuses on the financial aspects of the acquisition process, rather than on the subsequent process of integration. This paper analyses the case of information systems integration in a merger of two Korean manufacturing organizations, and explores the factors influencing IS integration in M&A in Korea. To analysis this case and find factors affecting IS integration success, we use MIT'90s schema (framework) by Scott Morton that consists of 5 dimensions (strategy, processes, structure, individuals/roles, and technology). From the results of this case study, we found 13 factors and 14 propositions influencing IS integrations performance in M&A in Korean companies. This research helps the company to avoid mistakes and to manage IS integration in M&A. Also this study provides guide line for further researches.