• Title/Summary/Keyword: 금융시장

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The Relevance between Investor Relation and Book-Tax Difference Variability (기업설명회와 회계이익-과세소득 차이 변동성 간의 관련성)

  • Kim, Jin-Sep
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.11
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    • pp.637-643
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    • 2017
  • This study analyzed the Quality of Accounting Earning of Investor Relations(IR). For this, we utilized Book-Tax Difference Variability as the proxy of the level of the Quality of Accounting Earning. This study used 2,106 sample data from 2011 to 2016 on the listed firm on KOSPI(Korea Composite Stock Price Index). In short, the study results are as follows. Investor Relation(IR) has a negative relevance with Book-Tax Difference Variability, which agreed with the result of additional analysis using extra sample. According to these results, we can expect that Investor Relations(IR) firms will report more faithful Accounting Earning. This study makes the following fresh contribution to the field. The study result confirms how Investor Relation(IR) affects the Quality of Accounting Earning. We hope that this study will help the development of capital market.

An Empirical Study on Variables Affecting Warrant Pricing of Japan (Warrant 가격 결정변수에 관한 실증연구)

  • Dong-Hwan Kim
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.1 no.2
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    • pp.85-92
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    • 2000
  • Warrants are often described as call potions written tv firms on their own stock. However, a call option is a pure side bet; i.e., none of the cash flows associated with the call's sale or exercise involves the firm. Issuing warrants on the other hand, can affect the firm's aggregate level of investment, composition of its capital structure. and the price of the stock on which warrant can be exercised. The problem of the warrant pricing can be solved by using of multivariate data analysis techniques, such as regression analysis or discriminant analysis, instead of OPM. The value of this approach is that we can evlauate the relative importance of each independent variable which affect a price of a warrant. This study empirically examines the Japanese warrant pricing by multiple regression analysis using a sample or 300 observations traded on Tokyo Stock Exchange during the periods between 1995 and 1996.

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A Study on Secure Mobile Payment Service for the Market Economy Revitalization (시장 경제 활성화를 위한 안전한 모바일 전자결제 방안 연구)

  • Kim, Hyung-Uk;Jung, Yong-Hoon;Jun, Moon-Seog
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.3
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    • pp.41-48
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    • 2017
  • Recently, there has been a lot of ongoing research regarding financial transactions and payments due to the emergence of financial technology (FinTech). Payments have been processed through cash and credit cards, and payment methods have been simplified and are more convenient, with mobile payment via mobile cards and mobile phones. This study offers a new mobile payment method by using a mobile phone instead of a card reader or terminal. For payments, authentication is processed with the user's biometrics and a built-in fingerprint scanner, and the payment is processed after receiving an authentication code issued by the authorizing institution to confirm the user's identity. User biometrics and payment information is secured from any kind of malicious hacker by saving it in a Fast Identity Online (FIDO) Trusted Execution Environment (TEE) section in a smartphone. Regarding key security, every key is securely created in the FIDO TEE section, providing secure mobile payment by neutralizing various malicious attacks, including sniffing and the man-in-the middle attack.

A Study on the Activation of Crowdfunding for e-Commerce Trade Start-ups Investment (전자상거래 무역창업 투자를 위한 크라우드펀딩 활성화방안에 관한 연구)

  • Park, Jong Hyun
    • International Commerce and Information Review
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    • v.18 no.2
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    • pp.3-26
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    • 2016
  • Crowdfunding is growing up SNS spread, raising funds from numerous people which are offering necessary funding of private and enterprise using the internet-based platforms. The function of crowdfunding uses innovative financing in being business and start-ups having difficulty in financing. Crowdfunding in our domestic is concentrated on culture and arts in the early adoption phase, and is numerous projects with public features. However, the investment case of crowdfundig in e-commerce trade start-ups is rarely in spite of a increased attention for crowdfunding.. The purpose of this study examined the factors to be considered when using successfully crowdfunding on e-commerce trade start-ups. This study is understanding the legal and policy of crowdfunding market status and other countries, and suggests the activation of the direction of government policy, legal system, and participation of financing suppliers and investors as activating the law and policy system related the crowdfunding on a domestic in terms of e-commerce trade start-ups investment.

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Measures to minimize the side effects of the increased use of Artificial Intelligence Robo-Advisor (인공지능 로보어드바이저의 활성화에 따른 부작용 최소화를 위한 제도적 보완점)

  • Kim, Dong Ju;Kwon, Hun Yeong;Lim, Jong In
    • Journal of the Korea Convergence Society
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    • v.8 no.10
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    • pp.67-73
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    • 2017
  • In this study, we mainly inquired into structural reforms of the current legal system that could minimize the side effects and protect financial customers as the use of AI robo-advisor were increasing. First, regarding a specific reform, it is necessary to introduce and establish a rapid detection system for unusual transactions by the Robo-advisor management company, the strict liability of the management company, the management company's mandatory obligation to obtain indemnity insurance, and limited criminal penalties. Furthermore, it is necessary to establish a comprehensive basic law regarding AI. In this basic law, the promotion of the development of AI technology and the minimization of side effects should be dealt with in harmony with each other. Like the approach of this study, we hope that similarly detailed and practical discussions will be made on the AI era from various perspectives in the future.

Analysis of Competency Assessment Using IPA for Construction Project Managers (IPA 기법을 활용한 현장소장 역량 요인 도출 및 분석)

  • Kim, Hwa-Rang;Lee, Na-Kyung;Jang, Hyoun-Seung
    • Korean Journal of Construction Engineering and Management
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    • v.14 no.1
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    • pp.115-123
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    • 2013
  • Changes have occurred in the professional capabilities of the construction project managers after the global financial crisis. As representatives of construction companies and projects, construction project managers have full responsibility over a construction project. Throughout its life cycle, from design through construction to completion, the business capabilities of such managers are regarded as critical elements in the changes in the country's construction economy. Therefore, this study aimed to determine the main capabilities of current construction project managers, and to analysis of its competitiveness using Important-Performance Analysis(IPA). The results of IPA were as follows; (1)capability to win new contracts and capability to collect information of new project are needed for external relation competitiveness, (2)gerentocratic management mind-set and active breakthrough are needed for internal project management competitiveness, and (3)capability to predict issues and self-improvement are needed for self discipline competitiveness. However, this work is still considered to provide the basic data that can help Korean construction companies who plan to educate the project manager's strengthen their medium and long-term capabilities.

Time to Invest in Real Asset with Option Pricing Theory - Focused on REITs - (옵션가격결정이론에 기반한 실물자산의 투자시기 결정 - 부동산투자신탁회사(REITs)를 중심으로 -)

  • Jun, Jae-Bum;Lee, Sam-Su
    • Korean Journal of Construction Engineering and Management
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    • v.11 no.6
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    • pp.54-64
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    • 2010
  • A firm decides to go to the project based on its investment analysis. However, the cash flows generated from the real project can not be always coincident with what expected as it follows uncertain behavior and the asymmetric payoff caused by the managerial flexibilities involved in the real asset affects the project value. Amongst various managerial flexibilities entailed in most of the real assets, although investment delay has been known to enhance the project value thanks to its ability to provide new market information to management, the related research to select the time to invest have been just few. Therefore, this research aims to show the theoretical framework to decide when to invest reflecting the behaviors of increasing project value and loss recovery cost due to investment delay with option pricing, related financial economic, and variational theories.

Strategies for Economic Development through Mobile and Case Studies in Africa (모바일을 통한 아프리카 경제발전 전략 및 사례 연구)

  • Yu, Jieun;Kim, Sunyoung;Lee, Hwansoo
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.39C no.4
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    • pp.387-399
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    • 2014
  • This study proposes strategies for economic development through mobile in Africa where mobile emerges as an infra to solve socioeconomic problems. It analyzes economy and ICT industry in Africa and studies several cases that are utilized in agriculture, finance, education, and healthcare. It also examines economic development theory and the impact of broadband on economic growth and development. It is necessary to leapfrog to mobile to achieve an information society and a compact industrialization based on ICT because fixed-line is very poor and expensive in Africa. Building a mobile broadband infra, supporting a dissemination of low-end smartphones and a government's support for mobile contents are necessary to achieve a leapfrogging development through mobile in Africa. The findings of this study provide additional insights for Korean ICT companies to consider a business in Africa.

A Study on the Factors Affecting the reliability of User 's Confidence in Korean Internet professional Bank -Focused on Kakao Bank and K Bank- (국내 인터넷 전문 은행이 사용자의 신뢰감 형성에 끼치는 요인에 관한 연구 -카카오뱅크와 케이뱅크를 중심으로-)

  • Lee, Kaha;Kim, Seung-In
    • Journal of the Korea Convergence Society
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    • v.9 no.1
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    • pp.277-282
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    • 2018
  • This study aims to present a direction for securing continuous growth and confidence, centering on two Internet banking companies that started recently. The banking market has been rewriting the history since the emergence of Internet professional banks. In order to improve the credibility and promote the development of the Internet professional banks, I conducted a questionnaire survey and In Depth Interview. As a result of this survey, the overall reliability is still low, and the factors affecting reliability are: 1.Security problem 2.Discomfort of customer service 3.Errors and unnecessary services. This is a start-up business, so the awareness and reliability can be changed soon. Therefore, it is necessary to continue research on this according to the changing user's perception.

The Study on the Design and Optimization of Storage for the Recording of High Speed Astronomical Data (초고속 관측 데이터 수신 및 저장을 위한 기록 시스템 설계 및 성능 최적화 연구)

  • Song, Min-Gyu;Kang, Yong-Woo;Kim, Hyo-Ryoung
    • The Journal of the Korea institute of electronic communication sciences
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    • v.12 no.1
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    • pp.75-84
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    • 2017
  • It becomes more and more more important for the storage that supports high speed recording and stable access from network environment. As one field of basic science which produces massive astronomical data, VLBI(: Very Long Baseline Interferometer) is now demanding more data writing performance and which is directly related to astronomical observation with high resolution and sensitivity. But most of existing storage are cloud model based for the high throughput of general IT, finance, and administrative service, and therefore it not the best choice for recording of big stream data. Therefore, in this study, we design storage system optimized for high performance of I/O and concurrency. To solve this problem, we implement packet read and writing module through the use of libpcap and pf_ring API on the multi core CPU environment, and build a scalable storage based on software RAID(: Redundant Array of Inexpensive Disks) for the efficient process of incoming data from external network.