• 무역학회지
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• 제48권3호
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• pp.243-262
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• 2023

본 연구는 스마트 무역계약의 체계적 문헌고찰을 통해 스마트계약과 블록체인 기술을 활용한 무역계약의 디지털화와 자동화에 관한 연구 동향과 이론적 배경을 파악하고, 기술적 측면과 법적 측면에서의 도전 과제와 해결 방안을 분석하였다. 스마트 무역계약은 블록체인을 기반으로 한 자동화된 계약 시스템의 개념을 무역과 관련된 거래에 적용한 것이다. 기술적 측면에서는 스마트계약 플랫폼의 개발, 블록체인 네트워크의 확장성과 성능 개선, 보안 및 개인 정보 보호 등을 다루었고, 법적 측면에서는 스마트계약의 법적 구속력, 계약 조건의 자동 이행과 이의 실현 가능성, 계약 당사자의 책임과 의무 등을 다루었다. 스마트 무역계약은 국제무역, 공급망 관리, 금융, 보험, 에너지 등 다양한 산업 분야에서 적용 사례가 발견되고 있으며, 이를 통해 무역금융의 용이성과 공급망의 효율성 향상, 비즈니스 모델 혁신에 이바지할 수 있는 것으로 확인되었다. 그러나 스마트 무역계약의 한계점으로는 법적 규제와의 상호작용 문제, 기술적 측면에서의 도전 과제 등이 있으며, 후속 연구에서는 실증 연구, 비즈니스 모델 혁신, 법적 쟁점 해결, 보안과 개인 정보 보호, 표준화와 협력, 사용자 경험 연구 등 다양한 측면을 고려해야 할 것으로 판단된다.

• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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• pp.315-325
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• 2019

The paper aims to explore the factors affecting potential users of international bank cards in Vietnam. With milestones treaties being signed CPTPP and EVFTA, Vietnam is now exposing itself to the international open environment. Bank card market is at the core of this wind of change, and that is the reason for us to research the intention to use international bank cards. Given that the decision to choose international bank cards could either be the switch from domestic cards or adopting a brand new card, we develop some specific constructs to reflect that consideration, specifically PE and PD, asides from traditional constructs used in TPB and TAM frameworks. The analysis work is conducted using PLS-SEM approach. Our findings reveals that most of our proposed hypotheses are supported, in which SN plays the most important direct role to INT, while total effect of PU on INT is similar to that of SN. The newly introduced PD negatively and significantly impacts INT, and PE also has a positive impact on INT. The findings suggest that overall, it is important for bank card issuers to have a balance approach to the market, with focus on increasing usefulness and reducing potential disadvantages of international bank cards.

• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.577-586
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• 2020

The paper seeks to explore the role of green finance in achieving sustainable development goals through the case of China, and address some issues of sustainable finance and environmental, social and governance concerns of green finance by introducing the episodes of green finance in China. This paper aims to provide some viewpoints about the following questions: 1) What are the latest trends in green finance? 2) What are the main challenges to the development of green finance? 3) What are policy recommendations for the development of green finance? 4) What are the roles of both the public and private sectors in promoting green finance? This paper identifies the mainstream to sustainable bonds, diversification of green finance, transition of corporates' business models, transparency and disclosure, and harmonizing taxonomy and measurement of green finance for the emerging trends of green finance. As the results, this paper recommends some policy measures for the private sector such as greening the banking system, greening the bond market, and greening institutional investors. This paper also suggests some policy initiatives for the public sector such as developing policies and capacity, promoting market transparency and governance, and promoting private-public partnership for diversifying resources of green finance.

• 대한안전경영과학회지
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• 제12권4호
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• pp.191-198
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• 2010

This paper selects length of berth, area of yard, unloading capacity and number of berth as the input indexes, and cargo turnover as output index to research the source of turnover growth of 22 main ports in Korea. We gains the following results: in general, the trade ports in Korea are the stage of expansion period, the sources of turnover growth depends on the growth of factor inputs and could not be supported by TFP and technical progress. Especially in the west and east coast, TFP and technical progress is the block to the turnover growth. Four major factors to the increase of TFP are following: competition between ports, reform of property system, harbor-hinterland economic and international trade, modeling, imitation and innovation in management, technology and system.

• Journal of Korea Trade
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• 제24권5호
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• pp.1-17
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• 2020

Purpose - This paper tries to estimate the effects of China's and Japan's free trade agreement (FTA) by panel generalized least squares (GLS). Design/methodology - The GLS model includes the basic gravity theory and Difference in Difference (DD) method to divide FTA conclusion countries and non-FTA conclusion countries with China and Japan. In order to empirically research the difference between Chinese and Japanese FTAs, we use the Difference in Difference in Difference (DDD) method. Findings - This paper finds the distance variable has more influence on Japanese than Chinese trade. The exchange rate indicates that Chinese trade depends on export and Japanese trade has the structure of re-import; shows that the countries that concluded FTAs with China and Japan have more positive trade effects than those that did not; finds the Chinese FTA promotion effects greater than the Japanese FTA because China had pushed ahead with trade policy since joining the WTO in 2001. Originality/value - This study shows that a single country's FTA and trade policies are an important factor concerning not just the promotion of trade but also the issue of trade conflicts.

• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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• pp.41-53
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• 2019

Building a target capital structure is one of the most important decisions in corporate financial management. The purpose of this article is to identify the determinants of capital structure and adjustment mechanism toward the target leverage. The partial adjustment model was applied on a sample of 306 non-financial companies listed on Vietnam stock exchange market during the period of 2008-2017. By the fixed effect model estimation method, the research results have discovered the factors of growth opportunities, firm size, tangible fixed assets and firm's unique characteristics have a positive effect on the target capital structure of enterprises. Besides, profitability and dividend payment have a negative effect on the target capital structure of enterprises. Accordingly, the research results show that the average adjustment speed toward target leverage of the firms is 90.03%. Research results also demonstrate firms have higher or lower debt ratio than the target debt ratio, capital surplus or capital deficit also have an impact on the adjustment rate toward the target capital structure. The research results are consistent with the Dynamic Trade-off Theory. From this result, this article has provided policy implications for non-financial companies listed on Vietnam's stock market in building a reasonable target capital structure according to operating timeline to maximize enterprise value.

• Journal of Korea Trade
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• 제25권7호
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• pp.92-107
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• 2021

Purpose - This paper analyzes the relationship between trade facilitation and agricultural products exports and estimates the effects of trade facilitation in importing countries on Chinese agricultural products exports, which is of great significance for promoting agricultural trade between China,Japan and Korea and the governments of the three countries to formulate targeted trade facilitation policies. Design/methodology - Based on Wilson (2003) theoretical framework, this paper sets up its own trade facilitation level measurement system by involving four primary indicators and fifteen secondary indicators to evaluate the trade facilitation levels of Japan and Korea from 2011 to 2018 respectively. The paper selected the data on China's agricultural exports at the HS4 level from 2011-2018 and used a fixed-effects model to estimate the effect of changes in trade facilitation levels in trading partner countries on China's agricultural trade. Findings - Our main findings can be summarized as follows: the level of trade facilitation in importing countries has a significantly positive effect on China's agricultural exports. The higher the level of trade facilitation in trading partner countries, the more Chinese agricultural exports trade, i.e. for every 1 percentage point increase in the level of trade facilitation, the volume of exports will increase by 2.299%.The sub-sample test shows that China's main agricultural products exported to Japan and Korea, such as aquatic products, vegetables, fruits and other perishable fresh products, are particularly significantly affected by the level of trade facilitation. Originality/value - First, from the innovation of the research perspective, which is different from the analysis of the existing paper on the overall trade facilitation of all traded commodities. This article is based on the close trade relations between China, Japan and Korea, and the particularity of agricultural products, from the perspective of China's agricultural exports to Japan and Korea, discuss the impact of importing countries-Japan and Korea's trade facilitation levels on China's agricultural exports;Secondly, in this paper, the hierarchical data of the HS4 quartile is used to avoid the information loss of the industry, and to analyse the impact of the importing country's trade facilitation level on the export of different types of agricultural products more scientifically.

• Journal of Korea Trade
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• 제25권1호
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• pp.34-46
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• 2021

Purpose - This paper aims to analyze the impact of the terms of trade, export price, and import price on the Korean economy (that is, real GDP, CPI, money market rate, and real effective exchange rate), and vice versa in the simple vector autoregression. Design/methodology - We impose two assumptions, i.e., diagonality and bloc exogeneity, to correctly identify the impact of a factor to the others in the structural equation. With two contemporaneous assumptions in the structural VAR, this paper investigates the impacts of the terms of trade on the Korean economy and vice versa. Findings - Impulse responses to the shocks in the terms of trade and Korean economy show that 1) an impact of the terms of trade on the economy is different in export prices and in import prices. A higher export price is beneficial to the economy while a higher import price hurts the economy, and 2) an increase in real effective exchange rate and in interest rate constrains domestic production and lowers consumer prices. Originality/value - Unlike the conventional perception that a depreciation of a currency would promote exports and domestic production at the price of inflation, our result shows the opposite, and 3) real GDP and consumer prices are positively correlated. That is, an increase in real GDP does not only cause inflation, but an increase in consumer prices also promote domestic production. Yet, the only difference is that export prices and import prices end up higher with an increase in real GDP, but lower with inflation.

• 대한안전경영과학회지
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• 제12권4호
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• pp.183-190
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• 2010

This paper selects length of berth, area of yard, unloading capacity and number of berth as the input indexes, and cargo turnover as output index to research the source of TFP(Total Factor Productivity) growth of 23 main ports in Korea. The major conclusions are as follows. The TFP of the trade ports in Korea is at the fluctuating stage, but it generally displays a rising trend, and it’s growth originate from the growth of technical efficiency. The Growth rates of TFP of trade ports in the different areas are different, and the sources of growth are also different, but the changing trends are basically the same. Four major factors to the increase of TFP are following: competition between ports, reform of property system, harbor-hinterland economic and international trade, modeling, imitation and innovation in management, technology and system.

• 무역학회지
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• 제47권1호
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• pp.25-42
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• 2022

This study identified consumers' shopping behavior in live streaming commerce. To this end, this study put the uncertainty issue of live shopping and the transfer of trust at the center of the discussion. The verification of the research model resulted in the following conclusions. First, reduced uncertainty in live shopping was a factor in increasing the level of involvement and attachment in the service. These results showed that resolving uncertainty in newly introduced services is a key factor in determining users' positive attitudes. Second, the trust in shopping sites influenced the current live shopping attitude. This is because the transfer of trust is also valid in live shopping, which demonstrated the importance of building trust. Third, this study proposed and validated a research model that could systematically understand the consumption process of live streaming shopping. Furthermore, this study provides a beneficial implication for those who want to use live shopping in practice.