A Study about B2C investment consulting service using Robo-Advisor: Case of AndByeond Investment Management

로보 어드바이저를 활용한 B2C 투자자문 서비스 연구: 앤드비욘드 투자자문 사례

  • 배한희 (연세대학교 투자정보공학협동과정) ;
  • 김영민 (순천향대학교, 빅데이터공학과) ;
  • 오경주 (연세대학교 산업공학과)
  • Received : 2017.12.27
  • Accepted : 2018.02.28
  • Published : 2018.03.31


The purpose of this case study is to analyze the B2C security information service model using the robo-advisor, to develop various service models and to urge new companies to enter. Overseas robo-advisor service market is growing rapidly with the launch of various B2C service models beyond B2B. On the other hand, as the domestic market is dominated by B2B services and serviced just index portfolio which is nascent, it lacks products which are used for active asset management. Recently as the government announced the approval of online investment advisory service, the B2C market of domestic asset management has entered a growth phase, centered on generations familiar with IT. We propose to extend the concept of Robo-Advisor service in accordance with the financial market change. By that model, we will study the case of the algorithm of the investment masters' philosophy and contribute to the expansion of the B2C service market.


  1. 고윤승2016. "우리나라 로보 어드바이저 도입을 위한 활성화 방안 탐색," 한국과학예술 포럼(25) pp. 19-33.
  2. 김범준, 엄윤경2017. "로보-어드바이저(Robo-Adviser)의 활용과 금융투자자 보호-미국의 규제 체계가 주는 함의를 중심으로-," 법학연구 (65), pp. 71-98.
  3. 박선후2016. "로보 어드바이저에 관한 오해와 진실," IBK경제연구소, 금융산업연구원, 8월.
  4. 서보익 2016. "로보-어드바이저가 이끌 자산관리 시장의 변화," 유진투자증권, 2016년 하반기 산업전망.
  5. 서영미 2014. "글로벌 온라인 자산관리산업 동향 및 시사점," 금융투자협회.
  6. 양진용 2016. "기업 재무 정보를 활용한 머신 러닝 기반 경영 예측 시스템," 한성대학교, 박사학위논문.
  7. 이성복 2016. "로보 어드바이저의 성공적 정착을 위한 제언," 자본시장 Weekly, (31).
  8. 이성환 1994. "패턴인식의 원리 I," 홍릉과학출판사.
  9. 정동현, 오경주 2014. "군집분석과 유전자 알고리즘을 활용한 투자자 거래정보 기반 포트폴리오 투자 전략," 한국데이터정보과학회지(25:1), pp. 107-117.
  10. 차지영 2014. "사례연구에 대한 방법론적 고찰," Health & Nursing (26:1)pp. 1-8.
  11. 최용석 1997. "재무제표 분석을 통한 회계이익의 예측 : 제조업과 은행업을 중심으로."한국과학기술원, 석사학위논문.
  12. 금융위원회 2016. "국민 재산의 효율적 운용을 지 원하기 위한 금융상품자문업 활성화 방안".
  13. Abarbanell, J. and B. Bushee. 1997. "Fundamental Analysis, Future Earnings, and Stock Price," Journal of Accounting Research (35:1), pp. 1-24.
  14. Abarbanell, J. and B. Bushee. 1998. "Abnormal returns to a fundamental analysis strategy," The Accounting Review (73:1), 19-45.
  15. A.T. Kearney. 2015. "Hype vs. Reality:The Coming Waves of "Robo" Adoption," June.
  16. Basu, S. 1983. "The relationship between earnings yield, market value and return for NYSE common stocks: Further evidence," Journal of Financial Economics, (12:1), 129-256.
  17. Creswell, John. W. 2013. "Qualitative inquiry and research design : choosing among five approaches,"(3rd ed.), Los Angeles, SAGE Publications.
  18. Fama, E. and K. French 1992. "The cross-section of expected stock return," Journal of Finance, (47:2), 427-465.
  19. Hakob, G. 2015. "Stock market prediction using artificial neural networks. Case study of TALIT, Nasdaq OMX Baltic Stock," Database Systems Journal, (VI:2), 14-23.
  20. Kim, K. J. and Lee, B. W. 2004. "Stock market prediction using artificial neural networks with optimal feature transformation," Neural Computing & Applications, (13:3), 255-260.
  21. Lakonishok, J., A. Shleifer, and R. Vishny. 1994. "Contrarian investment, extrapolation, and risk," Journal of Finance, (49:5), 1541-1578.
  22. Lev, B. amd R, Thiagarajan. 1993. "Fundamental information analysis," Journal of Accounting Research, (31:2), 190-215.
  23. Ou, J. and S. Penman. 1989a. "Financial statement analysis and the prediction of stock returns," Journal of Accounting and Economics, (11:4), 295-329.
  24. O'Connor, N. and Madden, M. G. 2006. "A neural network approach to predicting stock exchange movements using external factors," Knowledge-Based Systems, (19:5), 371-378.
  25. Stake, R. 1995. "The art of case study research," Thousand Oaks, CA : Sage.
  26. Yin, R. K. 2009. "Case study research : design and methods," (4th ed.), Thousand Oaks, CA : Sage.
  27. Robo Advisor Test Bed Center 2017.
  28. 거장들의투자공식.
  29. 앤드비욘드투자자문.
  30. 동아일보.
  31. wow한국경제tv.
  32. 국민일보.