• 한국벤처창업학회:학술대회논문집
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• 2018.11a
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• pp.49-53
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• 2018

ICT 기술의 발전과 금융기술의 진보로 온라인 쇼핑으로 대표되는 전자상거래는 점점 더 대중화되고 있다. PC나 모바일기기로 빠르고 손쉽게 물건을 구매할 수 있어 온라인 쇼핑은 많은 사람에게 일상이 되었다. 특히 온라인 쇼핑은 임대료, 각종 공과금, 인건비, 재고 확보 등으로 높은 초기비용이 필요한 일반 오프라인 쇼핑에 비해 낮은 진입장벽을 가지고 있어 많은 창업가들이 관심을 두고 있다. 이에 본 연구에서는 가장 보편적 온라인 쇼핑 창업 형태인 플랫폼 기반 창업을 통해 국내 온라인 창업 시장에 대해 전반적으로 알아보고자 한다. 특히 국내 최대 온라인 쇼핑 플랫폼인 네이버 스마트스토어의 판매자를 예로 살펴보면서 기존에 많이 연구되었던 소비자 입장에서의 온라인 쇼핑이 아닌 창업자 즉 판매자 입장에서 온라인 쇼핑을 분석함으로써 국내 온라인 쇼핑 창업의 양성에 필요한 정책적 지원에 관하여 시사점을 도출하고자 한다.

• Korean Business Review
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• v.17
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• pp.137-151
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• 2004

Wrap accounts are customized financial services for which investment companies and stock brokers manage investors assets based on their preferences. The success of wrap accounts depend upon the accurate understanding of investment risk propensity and the proper designing of financial portfolio. To this end investment companies should accurately measure investors investment risk propensity with calibrated measures. There, unfortunately, exist few highly calibrated measures of investment risk propensity. Therefore the practices of marketing strategies and customer management often turn out to be less effective and fragile to competition. The purposes of this present study aim to understand the investment risk propensity of wrap accounts customers, to help classify the customers based on the degree of the investment risk propensity, and to implement relevant marketing strategies for different groups of customers. Based on previous studies, two hypotheses were delineated and verified. The findings of the study should help differentiate prospective customers into unique and accessible segments for further targeting and positioning wrap account markets.

• The Journal of the Korea Contents Association
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• v.9 no.12
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• pp.279-290
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• 2009

This study aims at analyzing the structure of the regional industries in Daejeon, including Choongchung area and the measurement of Regional Innovation Ability Index. The study also investigates the environment of the regional innovation activities in terms of Regional Location Quotient Index. The study mainly focuses on the estimation of four types of innovation ability indexes, i.e., human resource, knowledge creation, knowledge transfer and application, and innovation supporting finance output market. The findings indicate that Daejeon showed the highest index 2.977, and Seoul recorded 2.650 as the second rank. The indexes of Choongnam and Choongbuk were 2.034 and 2.082, respectively, which reached to 76%~78% of that of Seoul. The indexes of the other cities accounted for only 50%~60% of that of Deajeon city. This study concludes that there is a regional difference particularly in the knowledge creation area.

• International Commerce and Information Review
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• v.14 no.3
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• pp.31-47
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• 2012

The Eurozone was launched to set a goal on using the single currency perfectly in 1999. Using the Euro could get rid of exchange cost and cost of Foreign exchange risk management which was approximately 1% of each member's GDP. It was possible that members has maintained a stable level of inflation and stimulate investment and employment with low interest rate. In addition, they could lead to economic growth and investment as well as increase the Euro demand in financial market. Especially, members has used the Euro as the method of payment on trade each other so that the volume of trade among the Eurozone members has increased continuously which was called "the effect of single market." This paper analyzes the correlation between using the Euro and members' export/import by using random effect estimation and fixed effect estimation. As a result, Eurozone members can get export decreasing effect of 4.68% and import increasing effect of 10.5% respectively on average by using the Euro.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2017.05a
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• pp.175-192
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• 2017

4차 산업혁명의 도래와 더불어 ICT 기계, ICT 금융, ICT 의료, ICT 나노 등과 같이 기술분야별 영역의 장벽이 허물어지고, 학제간 연구(Interdisplinary Research)가 일상화됨에 따라 무형자산의 가치평가시에도 융합기술의 가치평가 모형에 대한 니즈가 증대되고 있다. 특히, 기술의 매매, 현물출자, 기술금융(투자유치, 담보 보증), 인수 합병, 청산 소송 등 다양한 용도로 사용되고 있는 기술가치평가 모형은 융합기술의 입력변수 결정에 대한 체계적인 로직을 제공하지 못하고 있는 실정이다. 일반적으로 실제 거래사례가 존재할 경우, 국제가치평가기준(IVS)에 의하면 시장접근법이 우선적으로 적용될 수 있다고 권고된다. 그러나 융합기술의 이전거래를 비롯한 평가 활용사례를 수집하기도 어렵고 그렇다할 평가모델이 존재하지 않는 것이 사실이다. 융합기술에 대한 기술 및 시장의 사업화 환경을 고려하는 경우 소득접근법 기반의 평가기법이 유용하게 활용될 수 있는데, 기술수명, 매출액추정, 할인율, 산업기술요소 등의 핵심변수 결정에 관한 정형화된 로직이 존재하지 않으므로 본 고에서 융합기술 사례에 대해 실용적으로 활용가능한 변수추정 로직을 제시하고자 한다. 기술수명의 경우, 복수 개의 국제특허분류(IPC)별 피인용특허수에 따라 가중 적용하여 수명 추정을 위한 기준값을 정하며, 사업화소요기간 및 비용의 경우 평가대상 융합기술이 속하는 업종별 메타데이터값을 가중평균하여 현금흐름 추정기간을 최종 도출할 수 있다. 소득접근법에서의 매출추정, 할인율, 산업기술요소 변수 추정 이외에도 로열티공제법 적용을 위한 로열티율 결정에 있어서, 융합기술이 응용가능한 산업(업종)별 매출액 기반으로 가중 적용하여 각 변수값을 산출할 수 있다. 본 연구에서 개발된 융합기술 가치평가 모형은 향후 기술의 융복합화 특성을 반영하여 적정 가치를 산출하는 평가 가이드라인을 제공할 수 있을 것으로 기대된다.

• Journal of the Korean Regional Science Association
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• v.34 no.1
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• pp.3-17
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• 2018

This paper empirically investigates time-varying regression parameter of hedonic price model for Seoul office rental market in distinct periods of a market cycle. Office rental index is constructed and the index indicates that the global financial crisis differentiates the analysis period into decline stage and recovery stage. Pre-crisis period is classified into decline stage and post-crisis is classified into recovery stage. Structural break-point test suggests structural change of hedonic model of rent determinants occurred in 2008. Evidence indicates that individual regression parameters of hedonic price model for decline stage are significantly different from those for recovery stage. Changes in the regression parameters of land price, distance to metro, building size, building age, and conversion rate are consistent. In recovery stage, the effect of locational advantage on office rent decreases whereas the effect of building characteristics on the rent increases.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.22 no.50
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• pp.105-125
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• 1999

The results of analysis on foreign exchange market, stock and financial market after January of 1997 are that foreign exchange market will be affected by stock and financial market volatility about 1999. This means that stock and financial market are more stable than foreign exchange market. This also is supported by ‘financial market forecast of 1999 in Daewoo Economic Research Institute’. After won/dollar (end of period) will be increasing in 1,430 at second quarter of 1999, this is to downward 1,200 fourth quarter of 1999. This is somewhat based on government's higher exchange rate policy. But, after yield of corporate bond is to 11.0% at first quarter of 1999, this will be stable to 10.2% at fourth quarter. During the first quarter of 1999, yield of corporate bond is to somewhat increasing through sovereign debt and public bonds, technical adjustment of interest rate. After this, yield of corporate bond will be stable according to stability of price, magnification of money supply, restucturing of firms. So, stock market is favorably affected by stability of financial market. But, the pension and fund of USA, i.e., long-term portfolio investment fund, are injected through international firm's management. It is included by openness of audit, fair market about foreign investors. Finally, Moody's strong rating on the won-denominated bonds suggest that Korea's sovereign debt ratings could be restored to an investment grade in the near future. It sequentially includes inflow of foreign portfolio investment fund, fall of won/dollar foreign exchange rate (appreciation of won) and stability of yield of corporate bond.

• Journal of the Korean Data and Information Science Society
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• v.22 no.6
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• pp.1065-1074
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• 2011

During several decades, many researchers in the field of finance have studied Value at Risk (VaR) to measure the market risk. VaR indicates the worst loss over a target horizon such that there is a low, pre-specified probability that the actual loss will be larger (Jorion, 2006, p.106). In this paper, we compare conditional copula method with two conventional VaR forecasting methods based on simple moving average and exponentially weighted moving average for measuring the risk of the portfolio, consisting of two domestic stock indices. Through real data analysis, we conclude that the conditional copula method can improve the accuracy of portfolio VaR forecasting in the presence of high kurtosis and strong correlation in the data.

• The Journal of the Korea Contents Association
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• v.15 no.10
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• pp.504-516
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• 2015

This study addresses one of the curent issues in modern finance, which investigates financial profile on the levels of the chaebol firms' cash hoardings in the domestic capital market. Iit may be imperative to search for robust and consistent financial determinants of cash holdings as well as identifying any changes or trend of the determinants affecting the corporate cash reserves in the post-era of the global financial turmoil, considering that interest parties at the government and corporate levels, still seem to have a controversy or debate on excess cash savings. Two hypotheses were postulated and empirically tested for the chaebol firms in the study, such as any transitional changes of the relevant factors on cash holdings and unique attributes of financial factors discriminating between the different type of domestic stock markets.

• Knowledge Management Research
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• v.22 no.4
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• pp.87-101
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• 2021

ESG Investment is emerging as a trend and common sense in the financial market. ESG Investment is an investment method that simultaneously pursue social sustainability and investment returns from a long-term perspective by reflecting non-financial factors such as environment, society and governance in addition to corporate financial performance in investment decisions. This study checked how the characteristics of ESG investment have been changed after Covid-19. Afterwards, it was confirmed that Covid-19 actually acted as a negative factor in the securities market by applying VAR model. At the same time, it was demonstrated that ESG indices of the US and Korea outperformed their benchmark in terms of return and risk during the pandemic regime. The result of this study hints that the importance of ESG investment will be unchanged after Covid-19. At the same time, it suggests that managers should avoid passive ESG management and engage in strategic ESG management based on knowledge management.