• The Journal of the Korea Contents Association
• /
• v.9 no.8
• /
• pp.41-48
• /
• 2009

As enactment and enforcement of capital markets integration law, investment banks are going to be appeared in our financial market and be able to provide payment services. To provide these kinds of services, investment banks need to be participated in the financial network. As the financial network enormously affect the economy, the operation of the network will require a variety of risk managements. In this paper we define operational risk management criteria for the financial network such as security, in-time response, economical efficiency and stability to be required for the healthy economy and propose the configuration of the financial network system based on virtual private networks for investment banks to provide payment services. Finally we analyze that the proposed VPN configuration for financial networks has high security and in-time response with the cost and operation effective.

• Korean Journal of Health Education and Promotion
• /
• v.15 no.2
• /
• pp.217-233
• /
• 1998

This paper analyzed four different perspectives on health care reform in Korea in terms of the basic values, formulated problems and reform plans, implementation methods, and supporting groups. The medical security plan was insisted by social security specialists and social activists focusing on the integration of medical insurance coops in order to enhancing equity and right of the people. However, its perspective was limited to promoting security instead of reforming health care system. The government proposed the health care reform plans in 1994 and in 1997, focusing on promoting efficiency by remedying many problems in health care delivery system. However, its implementation was not successful due to the lack of organizational and financial supporters. Recently, two opposite proposals were issued. The market reform plan paid attention to revitalizing the market function to promoting efficiency by allowing hospitals to treat private patients instead of applying the medical insurance regulation. The government reform plan focused on intensifying governmental planning and intervention in the health care sector in order to removing inefficiency and promoting equity with the supports of social activists and labor unions. Finally, this paper proposed an alternative plan to promote harmonious social relationship between actors in the health care system.

• International Journal of Computer Science & Network Security
• /
• v.24 no.7
• /
• pp.87-100
• /
• 2024

Modern logistics significantly influences the globalization and internationalization processes. Logistics systems are becoming increasingly important in today's rapidly changing environment. On the other hand, the development of global economic integration, business globalization contributes to the creation and development of international logistics systems and global supply chains towards the international market. The aim of the article was to investigate the national logistics systems of developing countries in the context of their integration capabilities. The main methods used in this study are statistical analysis, index, graphical and analytical methods, methods for estimating structural dynamic shifts, comparisons. Commonly used methods of economic research, as well as statistical analysis and interstate comparisons, economic modelling (trend analysis to determine the forecast level of LPI for Ukraine), etc. were also involved. It is noted that the problem of development of logistics systems in developing countries was insufficiently covered in scientific research. The study suggests that the integration capabilities of national logistics systems are determined by the logistics performance of each country and the favourable logistics environment for integration transformations. This allowed analysing the state of the logistics systems of Poland, Bulgaria, India and Ukraine, and identifying the factors that determine it. The logistics environment of Poland, Bulgaria, India and Ukraine, as well as the factors of its formation are evaluated. The components of the logistic portrait of the country in the context of integration capabilities of the logistic system are offered. Trend analysis of LPI was carried out on the example of Ukraine, which showed positive trends in the logistics system and allowed drawing conclusions about increasing integration into international logistics channels based on its geopolitical location, improving the characteristics of the logistics environment, including customs regulation, and improving the efficiency of the national logistics system. Prospects for further research involve studies of the impact of pandemics, globalization, digitalization on logistics systems, including that of developing countries.

• Management & Information Systems Review
• /
• v.33 no.1
• /
• pp.139-155
• /
• 2014

This study is to examine the linkage of volatility between changes in the stock market of India and other countries through the integration of the world economy. The results were as follows: First, autocorrelation or serial correlation did not exist in the classic RS model, but long-term memory was present in the modified RS model. Second, unit root did not exist in the unit root test for all periods, and the series were a stable explanatory power and a long-term memory with the normal conditions in the ARFIMA model. Third, in the multivariate asymmetric BEKK and VAR model before the financial crisis, it showed that there was a strong influence of the own market of Taiwan and UK in the conditional mean equation, and a strong spillover effect from Japan to India, from Taiwan to China(Korea, US), from US(Japan) to UK in one direction. In the conditional variance equation, GARCH showed a strong spillover effect that indicated the same direction as the result of ARCH coefficient of the market itself. Asymmetric effects in three home markets and between markets existed. Fourth, after the financial crisis, in the conditional mean equation, only the domestic market in Taiwan showed strong influences, and strong spillover effects existed from India to US, from Taiwan to Japan, from Korea to Germany in one direction. In the conditional variance equation, strong spillover effects were the same as the result of the pre-crisis and asymmetric effect in the domestic market in UK was present, and one-way asymmetric effect existed in Germany from Taiwan. Therefore, the results of this study presented the linkage between the volatilities of the stock market of India and other countries through the integration of the world economy, observing and confirming the asymmetric reactions and return(volatility) spillover effects between the stock market of India and other countries.

• International Area Studies Review
• /
• v.13 no.3
• /
• pp.51-71
• /
• 2009

We pursue empirically influential determinants of risk-sharing across various groups in the United States. We consider all the possible combinations out of the eight BEA economic regions and relate the risk-sharing measure for each group to sectoral composition difference under the control of the state-level macroeconomic and financial characteristics. Our results show that more active risk-sharing via cross-ownership market is observed in groups exhibiting more different sectoral composition. The evidence implies that, given other economic and financial conditions equal, economic union tends to share more consumption risk among its members that are more heterogeneous in their sectoral composition. These days, many countries aim to form FTA and other forms of economic integration. We suggest that they should pay attention to sectoral composition for member countries to minimizes income shock in the integrated economy.

• Journal of Internet Computing and Services
• /
• v.10 no.1
• /
• pp.123-134
• /
• 2009

The CRM(Customer Relationship Management) is a business strategy model which can reap higher profits and can provide a competitive edge to an enterprise in today's new business environments. Early next year (2009), the Capital Market Consolidation Act will be in effect in South Korea. This is required for a qualitative growth to provide QoS (Quality of Service) and ensure growth in finance, IT industry & service. Accordingly, the securities and insurance companies, banks and other financial institutions make efforts to improve their derivative financial product and also enhance their services. In this paper we design and implement a Channel Server model for a Scalable Service Channel Server to efficiently manage the high volumes of inbound customer interactions based on the requirements of a CRM center. The proposed Scalable Service Channel Server supports integration with other third party service and standardization of multiple inbound service channels. The proposed model can be efficiently used in an inbound CRM center of any banking, finance, securities and insurance establishments.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.5
• /
• pp.1-9
• /
• 2021

The purpose of this study is to examine the effects of economic uncertainty on MNC investment in Malaysia from 2009 to 2019 by employing an ARDL method. The results revealed that Economic Policy Uncertainty (EPU) has a positive association with the capital expenditures of Nestle, British American Tobacco, and Public Bank in the long run. In a similar period, the Gross Domestic Product (GDP) is positively significant with the capital expenditures of British America Tobacco and Heineken. However, inflation is negatively related to the capital expenditures of British America Tobacco and Heineken. Additionally, the exchange rate has a significant and negative relationship with the capital expenditures of Nestle and Petronas, while the ECT value is negative and significant in the short run, hence confirming that co-integration exists. In view of this, it is imperative that the government plays a prerogative role to support MNC operations, as MNCs foster the developing countries' economic development through facilitating full employment. This study sets to enhance the personal knowledge of those with a strong interest in the Malaysian financial market. As long as MNCs believe that the Malaysian market has the potential to grow, they will continue to invest for the benefit of the country.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.3
• /
• pp.1217-1230
• /
• 2021

Using a multinomial logit model with the panel-data set of Vietnam manufacturing firms, this paper investigates the impacts of foreign direct investment (FDI) - small and medium enterprises (SMEs) linkages and other factors on SMEs' participation in the global value chain (GVC). We consider GVC firms are those engaging in any of the three modes including (i) using domestic inputs to export (D2E), (ii) using imported inputs to produce for the domestic market (I2P), (iii) using imported inputs to export (I2E). We discover that FDI-SME linkages statistically encourage Vietnamese SMEs to integrate into the GVC via I2P and I2E, while no statistical association between FDI-SME linkage and D2E participation is found. GVCs participation likelihood is also positively correlated with the introduction of new product introduction. The establishment of firms' production facilities in industrial zones and foreign ownership are both reported to be significantly decisive factors to SMEs' decisions on GVC participation. Besides, there is a strong association between firms' attributes, i.e. employment, capital intensity as well as financial access, and their participation in the GVC. Local governance quality (proxied by the Provincial Competitiveness Index) and the share of skilled labor at the province-level can facilitate firms' integration into GVCs, while greater market concentration may be a hurdle to such potential.

• The Korean Journal of Financial Management
• /
• v.21 no.2
• /
• pp.125-151
• /
• 2004

This study tests the price discovery from US Treasury bond markets to Korean bond markets using the daily returns of Korean bond data (CD, 3-year T-note, 5-year T-note, 5-year corporate note) and US treasury bond markets (3-month T-bill, 5-year T-note 10-year T-bond) from July 1, 1998 to December 31, 2003. For further research, we divide full data into two sub-samples on the basis of the start-up of bond valuation system in Korean bond market July 1, 2000, employing uni-variate AR(1)-GARCH(1,1)-M model. The main results are as follows. First the volatility spillover effects from US Treasury bond markets (3-month T-bill, 5-year T-note, 10-year T-bond) to Korean Treasury and Corporate bond markets (CD, 3-year T-note, 5-year T-note, 5-year corporate note) are significantly found at 1% confidence level. Second, the price discovery function from US bond markets to Korean bond markets in the sub-data of the pre-bond valuation system exists much stronger and more persistent than those of the post-bond valuation system. In particular, the role of 10-year T-bond compared with 3-month T-bill and 5-year T-note is outstanding. We imply these findings result from the international capital market integration which is accelerated by the broad opening of Korean capital market after 1997 Korean currency crisis and the development of telecommunication skill. In addition, these results are meaningful for bond investors who are in charge of capital asset pricing valuation, risk management, and international portfolio management.

• Architectural research
• /
• v.15 no.2
• /
• pp.69-75
• /
• 2013

Within residential high-rise market there are many value determining factors. Site condition, view, program, units and structure are important parameters that are directly related to the financial aspect of the project. However, most of the studies of high-rise building design focus on the facade and the shape strategies from an esthetic point of view without considering these factors. The objective of this study is to investigate new design approach that incorporates site, program and structural information at an early stage as a generator of building form and explore a wide range of strategies to negotiate these factors in the process of design/decision making. Not being based on designer's subjective preference or style, architects still can create interesting building design through integration and negotiation of various building information. Since this form is based on real data, not just play of form, we can expect that this form has great potential to be developed into real one at the later design phase.