• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.10
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• pp.4359-4368
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• 2011

Among several macroeconomic missteps blamed for the recent global financial crisis including the social problems of income distribution and the lack of proper financial remedies, two of them have received particular attention: the global BOP(Balance of Payment) imbalance and the misguided monetary policy. Such BOP imbalance was blamed for massive foreign exchange investment flows from Asia into the U.S., triggering the financial and real estate bubble in America. The latter refers to the excessively loose monetary policy of the U.S. Federal Reserve, which pushed financial institutions and households into reckless investment behavior in search of higher returns. Given the abuse of certain innovative financial techniques and new investment instruments that have been created in recent decades, both collateralized debt obligations (CDOs) and credit default swaps (CDS) enjoyed a symbiotic and toxic relationship prior to the financial crisis This paper is organized as follows: The first section analyzes the real causes of the recent financial crisis. The second details the role of CDOs and CDS. Then, to identify key determinants of the CDS spreads in an emerging capital market, the sample data of major Korean firms' CDS spreads are used to estimate the risk premium by utilizing the multiple regression analysis. The empirical test result indicates that Korean 3-year treasury bond rate(TYIELD), market to book value ratio(MV/BV), and assets size(INASSETS) are shown to demonstrate statistically significant influences on the changes of the CDS premium for sample firms.

• Korean Journal of Construction Engineering and Management
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• v.15 no.5
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• pp.147-159
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• 2014

After 2008 global financial crisis, Korean housing market has experienced stagnation. So it caused housing market problems like housing price reduction, rising rent cost and so on. For housing market normalization government announced policies but Korean housing market didn't recover from stagnation. So, to understand why Korean housing market couldn't overcome the recession and why the policies didn't be effective, this research analyzed housing market participants (home owner, housing demand) based on the law of supply and demand and the psychological effect on their transaction intention based on behavioral economics(behavioral finance). Based on the analysis this research tested the effectiveness of announced policies using System Dynamics. The result showed that the amount of transaction and mortgage loan was influenced by the length of time to draft policies.

• Digital Contents
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• no.8 s.75
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• pp.17-23
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• 1999

기업간 전자상거래는 기업의 활동 중 구매, 판매, 금융, 물류, 무역 등의 기업간 업무를 정보 기술을 이용하여 처리하는 것을 의미한다. 포레스터 리서치는 98년 세계 기업간 전자상거래 시장은 97년 대비 33.8% 성장했으며, 올해는 1,090억 달러로 98년 대비 89.95% 성장할 것으로 전망하고 있다. 한편 국내 전자상거래 시장규모도 2005년에 8조 2천억원 중 기업간 전자상거래는 7조 1천억원으로 전체의 86%를 차지할 전망이다. 이에 따라 기업간 전자상거래 시장을 놓고 한국IBM, 한국오라클, 한국후지쯔, 마이크로소프트 등 대형 벤더들이 시장 주도권 경쟁을 펼치고 있다.

• The Korean Journal of Financial Management
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• v.10 no.1
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• pp.47-64
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• 1993

• Land and Housing Review
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• v.4 no.1
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• pp.43-54
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• 2013

This This paper investigates the variation of the factors to determinate housing price in Seoul metropolitan area after sub-prime financial crisis, in Korea, using a VAR model. The model includes housing price and housing rent (Jeonse) in Seoul metropolitan area from 1999 to 2011, and uses interest rate, real GDP, KOSPI, Producer Price Index and practices to impulse response and variance decomposition analysis to grasp the dynamic relation between a variable of macro economy and and a variable of housing price. Data is classified to 2 groups before and after the 3rd quater of 2008, when sub-prime crisis occurred; one is from the 1st quater of 1999 to the 3rd quater of 2008, and the other is from the 2nd quater of 1999 and the 4th quater of 2011. As a result, comparing before and after sub-prime crisis, housing price is more influenced by its own variation or Jeonse price's variation instead of interest rate and KOSPI. Both before and after sub-prime financial crisis, Jeonse price is also influenced by its own variation and housing price. While after sub-prime financial crisis, influences of Producer Price Index, KOSPI and interest rate were weakened, influence of real GDP is expanded. As housing price and housing rent are more influenced by real economy factors such as GDP, its own variation than before sub-prime financial crisis, the recent trend that the house prices is declined is difficult to be converted, considering domestic economic recession and uncertainty, continued by Europe financial crisis. In the future to activate the housing business, it ia necessary to promote purchasing power rather than relaxation of financial and supply regulation.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.7 no.3
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• pp.1-9
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• 2017

Financial instruments are economic and intangible assets that bring financial company tremendous economic returns when it is a success. Also, It is necessary to protect this because it is a product of effort made by a lot of human resources and materials. However, legal and institutional devices for financial instruments are insufficient currently and 'copying practices' are rampant throughout the industry in korea. This ultimately inhibits the utility and welfare of consumers, but also adversely affects the competitiveness of the financial industry. In order to finance innovation that new financial products and services have appeared, it is necessary to grant the appropriate rights, such as intellectual property rights of financial instruments. And, there is a need for measures to protect it. Thus, this study proposed new way protecting the financial instruments through Intellectual property right. It is the introduction of similar protection system to financial instruments, such as mechanisms that protect database producers in copyright law.

• Digital Contents
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• no.11 s.54
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• pp.10-12
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• 1997

소프트웨어 하드웨어를 총망라하는 전자상거래 시스템을 보유하고 있는 업체는 현재 IBM이 유일한 상태다. 그만큼 전자상거래 시스템이 광범위한 시스템이고 아직 선례가 그다지 않지 않기 때문이다. 전자상거래 시장에 뛰어들기 위해 베리폰사를 인수한 HP도 조만간 전자상거래에 관한 총체적인 전략을 발표할 예정에 있고, 금융권에 강세를 보이고 있는 탠덤, 유니시스 등이 이 시장에 뛰어들 전망이다. IBM과 HP의 전자상거래 솔루션을 소개한다.

• Digital Contents
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• no.1 s.116
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• pp.104-107
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• 2003

KMS와 관련된 국내 시장규모는 컨설팅 비용과 솔루션을 포함해 1000억원이 쉽게 넘을 것으로 추정된다. 이는 가트너 그룹의 '국내 KMS 시장규모' 및 한국소프트웨어산업협회 보고서를 기준으로 연 35% 성장하고 있다는 점에서 추정된 것이다. 또한 KMS에 대한 수요는 공공기관은 물론 제조, 서비스, 금융부문에 이르기까지 폭넓게 형성되고 있는 추세다.

• Journal of Korean Electronics
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• v.29 no.12
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• pp.8-16
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• 2009

금년 글로벌 시장 경기를 살펴보면, 미국발 금융위기로 세계시장이 동시에 불황에 직면하였다. 금년도 IT지출은 작년보다 5.2% 감소할 것으로 추정된다. 가트너 자료에 의하면, 컴퓨팅하드웨어부문에서 마이너스 16.5%로 가장 큰 타격을 입었고, 넷북 등 저가 제품의 수요 비중이 증가하며 IT하드웨어 업계의 수익을 압박한 것이다.

• Korean Journal of Construction Engineering and Management
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• v.14 no.1
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• pp.23-31
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• 2013

Following the U.S sub-prime mortgage crisis and a slump in properties market, the probability is rising that housing investment would not yield high profit as it used to do until early 2000s. For this reason, the nature of properties market is undergoing a change from a source of lucrative investment to a source of a relatively low but stable profit, such as profit-oriented real estate. This trend is likely to promote REITs market, which is a leading product for indirect investment. Until now, the REITs market has been growing slowly compared to a general housing market or financial markets. However, as the importance of risk management based on portfolio theories increases, stable profit generation of REITs can be effective in risk management. This study conducts an empirical analysis on how investment risks can be diversified by including REITs-a source of relatively stable profit in the equity market-in investment portfolio. The analysis results showed that, similar to food and beverage stocks of highly defensive nature, REITs has a relatively weak correlation with KOSPI that reflects the overall market performance. It also showed very low standard deviation in case of minimum variance portfolio. This suggests that including REITs in investment portfolio can be as effective as including food and beverage stocks for risk diversification. Due to uncertainties, investment always accompanies risks, and balancing potential profits and risks is essential.