• 한국중재학회지:중재연구
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• 제18권3호
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• pp.51-69
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• 2008

The financial industry in which arbitration is most frequently resorted to so as to resolve disputes is the sector related to the securities industry. Most securities related disputes are raised from broker-dealer controversies which is not new in the Republic of Korea. The disputes between securities brokers and customers are very frequently settled by arbitration in the United States. But the arbitration in the securities area may deprive investors from securities regulation's protection. Introducing the United States' Federal Supreme Courts cases, the author explores the logic of how the pre-dispute arbitration agreement compatible with Securities regulations. However, the author insist the South Korea should more careful in accepting pre-dispute arbitration contract in securities area. Mostly because of the lack of more specific way to secure substantive fairness in securities arbitration. Also the author worries about the possibility of prevailing pre-dispute arbitration agreement in all of the securities investment contract without any other choices, or securities laws' protection. But the author also suggests to introduce public securities arbitration system of the States, and also insists the way to secure substantive fairness, or the application of securities regulations in securities arbitrations. Which may be the pre-requirements for the pre-dispute arbitration agreement in securities investment contract.

• ETRI Journal
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• 제37권2호
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• pp.428-437
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• 2015

This study was conducted to analyze the effect of information security activities on organizational performance. With this in mind and with the aim of resolving transaction stability in the securities industry, using an organization's security activities as a tool for carrying out information security activities, the effect of security activities on organizational performance was analyzed. Under the assumption that the effectiveness of information security activities can be bolstered to enhance organizational performance, such effects were analyzed based on Herzberg's motivation theory, which is one of the motivation theories that may influence information protection activities. To measure the actual attributes of the theoretical model, an empirical survey of the securities industry was conducted. In this explorative study, the proposed model was verified using partial least squares as a structural equation model consisting of IT service, information security, information sharing, transaction stability, and organizational performance.

• 한국콘텐츠학회논문지
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• 제13권9호
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• pp.355-368
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• 2013

증권회사는 기업경영의 성과가 영업사원의 역량에 따라 크게 좌우되는 인적판매 산업으로 높은 성과를 창출 할 수 있는 능력을 갖춘 우수 영업 인력이 중요하다. 그러나 그동안 증권회사에 근무하는 PB에 대한 개별특성이나 영업행동 그리고 영업성과에 대한 연구는 매우 부족하였다. 본 연구는 PB의 개별특성이 영업행동에 미치는 영향을 실증 분석하고 향후에 영업성과에 미치는 영향을 연구하기 위한 목적으로 실시되었다. 2013년 3월 전국의 국내 증권회사에 근무하는 PB 600명에게 설문지를 배포하여 유의성이 있는 523명의 설문지에 대한 통계적 처리와 분석을 실시 한 결과, PB의 개별 특성인 일에 대한 태도, 성과지향성, 학습지향성, 고객지향성은 영업행동에 긍정적인 영향을 미치는 것으로 나타났으며, 조직의 지원은 양(+)의 조절효과가 있는 것으로 나타났다. 이에 본 연구는 증권회사가 경영성과 제고를 위해서는 PB의 개별특성을 향상시키기 위한 교육훈련과 자기개발프로그램을 활성화해야 하며, 조직지원을 통해서 PB의 개별특성을 향상시킬 수 있는 환경구축이 필요함을 제시한다.

• 아태비즈니스연구
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• 제14권1호
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• pp.327-340
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• 2023

Purpose - The purpose of this study is to examine the information effect of securities firm's net operating capital, securities firm's regulatory purposes capital, by analyzing the value relevance of net operating capital. Design/methodology/approach - This study was empirically analyzed using samples of domestic listed securities firms in the past 12 years, and multiple regression analysis and Vuong (1989) test were used together as specific research methods. Findings - First, it was found that the net operating capital of securities firms has an incremental value relevance that is added to basic accounting information (equity book value, profit or loss information). Second, after classifying equity capital on the books into net operating capital and the rest of equity capital, the value relevance of net operating capital was significantly higher than that of other equity capital. Research implications or Originality - The results of this study indicate that the level of regulatory capital in the securities industry can be used in the process of evaluating firm value in the capital market, and it is significant in that capital market evaluation can be stratified according to regulatory purposes.

• 디지털산업정보학회논문지
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• 제9권3호
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• pp.211-221
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• 2013

This study investigated the effect of service quality and using experience on a royalty in a electronic commerce. Expecially, used HTS (Home Trading System of securities companies)as a online service system. HTS (Home Trading System) is a electronic commerce system of securities companies that is a most progressive tool of it. Almost securities companies are offering these typical trading system, because it is a required factor for a competitive position in their compound market. This paper made hypotheses of five cases, and collected some data through survey questionnaire for an analysis of actual proof. For attaining the object of this research, used a structure equation modeling, and found that almost paths of the research model are supported among the service quality, using experience, involvement and royalty. This study could provide academic and managerial implications in a electronic commerce business.

• 정보관리연구
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• 제10권5호
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• pp.162-167
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• 1977

• 디지털산업정보학회논문지
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• 제5권3호
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• pp.19-28
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• 2009

Computer system performance has always had the possibility of affecting business profitability, but with the advent of the World Wide Web where customers interact directly with Web servers, response time can have a direct and dramatic impact on business revenue. This paper is written in the operation environment and system analysis of HTS(Home Trading System) running K Securities. This paper also shows the method for performance improvement through investigation and analysis for the overall systems resources whether HTS has an appropriate performance or not. Performance analysis includes specially CPU analysis, Memory analysis, Disk Input/Output analysis and application analysis. Besides providing more detailed server specification for expansion from now on, system performance can be maintained with effect in the future. Through this study it is possible to manage the performance of HTS more easily and to solve problems such as a bottleneck more quickly.

• 한국산업융합학회 논문집
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• 제8권2호
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• pp.85-95
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• 2005

The margin level in the futures market platys an important role in balancing the default probability with the investor's opportunity cost. In this paper, we investigate whether the movement of KOSPI200 futures daily prices can be modeled with the extreme value theory. Based on this investigation, we examine the validity of the margin level set by the extreme value theory. Moreover, we propose an expected profit-maximization model for securities companies. In this model, the extreme value theory is used for cost estimation, and a regression analysis is used for revenue calculation. Computational results are presented to compare the extreme value distribution with the empirical distribution of margin violation in KOSPI200 and to examine the suitability of the expected profit-maximization model.

• 재무관리연구
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• 제25권3호
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• pp.131-153
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• 2008

본 연구에서는 최근 위험이 점증하고 있는 증권산업에 대한 위험지수를 산출함으로써 증권관련 유관기관에서 국가경제적인 차원에서 증권산업의 위험도를 모니터링하고 위기상황을 예방할 수 있는 대책을 마련할 수 있는 정교하고 포괄적인 재무계량방법론을 제시하고자 하였다. 방대한 자료와 정밀한 계량기법을 통하여 선정된 17개 지표들로부터 2002년 1사분기부터 2007년 2사분기까지 시산된 우리나라 증권산업의 위험지수에 의하면 우리나라의 증권시장에서 2002년 1사분기부터 2003년 1사분기까지, 그리고 2006년 1사분기부터 4사분기까지 위험도가 증가하였고 2003년 2사분기부터 2006년 1사분기까지 우리나라 증권산업의 위험도가 약 22% 감소하였다. 특히 2003년 4사분기와 2004년 1사분기 사이에 우리나라 증권산업의 위험도가 7.72% 감소하여 분기별로는 가장 큰 폭으로 위험도가 감소하였다. 한편 본 연구에서 시산한 한국증권산업의 위험지수는 경제이론에 근거하고 주가와 재무정보를 이용하여 향후 일정기간동안 상장기업의 부도확률을 예측하는 모형인 EDF 부도확률예측모형과도 유사한 결과를 제시하는 것으로 판명 되었다.

• The Journal of Asian Finance, Economics and Business
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• 제6권4호
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• pp.53-63
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• 2019

The paper examines the influence of profitability on distance to default (DD) in Vietnam securities market. The investigated sample consists of 211 companies listed on HOSE during 18 years from 2010 to 2017. We apply KMV model to calculate distance to default and use both macroeconomics factors and firm specific factors as independent variables. Using General Least Squared (GLS) method, we find evidence to confirm the positive relationship between profitability and distance to default. This result showed that, although profitability did not directly reflect the cash flow generated, a good profitable enterprise would be an important factor to help facilitate and generate cash flow and at the same time debt was guaranteed when it was due. Besides, the test results revealed that the financial structure and sales on assets have the inverse effect on the distance to default at the significance level of 5%. The results also revealed that a group of macro factors had an influence on the distance to default of businesses, including spread, GDP and trade balance (via exchange rates). Gross domestic income had certain impacts on the distance to default of businesses. This was also a basic indicator measuring the national economic cycle.