• Knowledge Management Research
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• v.16 no.4
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• pp.35-45
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• 2015

Fintech, which means the convergence of finance and information technology, becomes a hot topic in the financial sector. Through innovative activities on financial services, ICT(Information and Communication Technology) is integrated into the overall financial industry, and a new form of financial services could be expected to improve the existing financial system. On the other hand, fintech services are relatively vulnerable to security issues. Due to the process simplication and the channel fusion, the leakage of personal and financial informations, authentication bypass, phishing, and pharming are getting more concerned. In this study we investigated the security risk of fintech services in the viewpoints of service provider, technology adoption, and security policy. The possible countermeasures to reduce those risks are suggested because security is an important criterion for selecting financial services. This study basically offers quantification of the potential security risks and step-by-step control measures about business processes in the fintech services. The suggested security model includes user authentication, terminal security, payment information protection, API(Application Programming Interface) security, and abnormal transaction monitoring. This study might contribute to an understanding of the security risks and some possible measures for mitigating those risks on the practical perspective.

• Journal of the Korean Mathematical Society
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• v.38 no.5
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• pp.1031-1046
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• 2001

The paper studies the evolution of the financial markets and pays the basic attention to the role of financial innovations (derivative securities) in this process. A characterization of both complete and incomplete markets is given through an identification of the sets of contingent claims and terminal wealths of self-financing portfolios. the dynamics of the financial system is described as a movement of incomplete markets to a complete one when the volume of financial innovations is growing up and the spread tends to zero (the Merton financial innovation spiral). Namely in this context the paper deals with the problem of pricing risks in both field: finance and insurance.

• Journal of Environmental Policy
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• v.3 no.1
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• pp.1-29
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• 2004

The role of the financial institution to promote corporate sustainability may be reviewed in two angles, as a commercial lender and an investor. As a commercial lender, financial institutions should minimize the legal risks and the political risks. Financial institutions began to recognize environmental risks as legal risks that directly affect their lending practices since the legislation of the Comprehensive Environmental Response, Compensation, and Liability Act("Superfund") of the U.S.A. The so-called lender liability rule has a detailed guideline where the financial institutions may be exempted from the Superfund Liability. Similar attempts are noticed in the recent EU White Paper on Environmental Liability. In Korea, comprehensive environmental liability laws are yet to be developed. The Soil Environment Preservation Act now includes a far-reaching environmental liability provisions, where the owners and operators as well as receivers of the facility bear responsibility. However, whether the financial institutions may be captured as a potential responsible party is not very clear. Until the relevant legislation is developed and court decisions accumulate, Korean financial institutions are well advised to raise awareness on this issue, to develop environmental policies and to train personnels.

• Journal of Families and Better Life
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• v.21 no.6
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• pp.43-51
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• 2003

The purpose of this research was to investigate the perception of financial risks and expenditures for insurance by household characteristics. Data were collected from 598 housewives by online survey on Dec., 2001. Results indicated that respondents had perceived the risk of unemployment most among three types of risks. Household characteristics reflecting financial needs in emergency case had positive effects on the perception of risks, and hence the expenditures for insurance, in general. On the other hand, the level of emergency preparation had negative effects on the perception of risks and the expenditures for insurance. However, only credit-related risk had a positive relationship with the expenditures for insurance.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2001.05a
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• pp.557-572
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• 2001

This study tries to analyze the possibility of application of project financing to electricity industry and analyze the management of risks happening in the process of foreign project procurement and construction. Those are based on the trends and analysis of project financing in foreign projects. Risks are 'classified as risks before completion of projects and risks after completion. Project financing is key element of exportation and financial strategies and activation of project financing may provide the acceleration of the efficient financial market.

• The Journal of the Korea Contents Association
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• v.20 no.1
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• pp.403-416
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• 2020

Unlike in the past, the environment related to CSR activities of financial services companies changed, such as lower interest rates, easier access to knowledge and the environment for risk management of financial services companies changed, including global economic instability, increased regulations, and exposure of new technologies associated with operating methods. This study examined the effects of CSR activities and risk management on sustainability and mediating effects of corporate image among financial service companies. The result of the study are as follows. First, the CSR's legal responsibilities, management in disaster risk and strategic risks of financial service enterprise have positive effect on sustainability, however, the management of CSR's ethical responsibilities, discretionary responsibilities, operational and financial risks have shown to have negative effect Second, CSR's legal responsibilities, discretionary responsibilities and the management of disaster risks act as mediating role between corporate image and sustainability. As a result, when financial service enterprises concentrate on managing CSR's Legal responsibilities and disaster risks, it was found that the corporate image improves and enhancement of sustainability.

• Management Science and Financial Engineering
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• v.2 no.1
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• pp.73-101
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• 1996

We show assets can be classified into diversifiable risks and non-diversifiable risks based on aggregate endowment and spanning so that in equilibrium agents eliminate diversifiable risks which must have zero values. Consequently, the benchmark portfolio that represents a pricing operator should have only a non-diversifiable risk, aggregate endowment should earn a positive risk premium over a riskless asset, and, even in incomplete markets, there should be a pricing operator represented by a function of aggregate endowment if any asset mean-independent of aggregate endowment is diversifiable. These results apply to both the CAPM and a representative agent model.

• Journal of Electrical Engineering and Technology
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• v.9 no.4
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• pp.1154-1162
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• 2014

In the restructured electricity market, Performance-Based Regulation (PBR) regime has been introduced to the distribution network. To ensure the network stability, this regime is used along with quality regulations. Quality regulation impose new financial risks on distribution system operators (DSOs). The poor quality of the network will result in reduced revenues for DSOs. The mentioned financial risks depend on the quality indices of the system. Based on annual variation of these indices, the cost of quality regulation will also vary. In this paper with regard to reclosing fault in distribution network, we develop a risk-based method to assess the financial risks caused by quality regulation for DSOs. Furthermore, in order to take the stochastic behavior of the distribution network and quality indices variations into account, time-sequential Monte Carlo simulation method is used. Using the proposed risk method, the effect of taking reclosing time into account will be examined on system quality indicators and the cost of quality regulation in Swedish rural reliability test system (SRRTS). The results show that taking reclosing fault into consideration, affects the system quality indicators, particularly annual average interruption frequency index of the system (SAIFI). Moreover taking reclosing fault into consideration also affects the quality regulations cost. Therefore, considering reclosing time provides a more realistic viewpoint about the financial risks arising from quality regulation for DSOs.

• Journal of Families and Better Life
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• v.25 no.2 s.86
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• pp.123-135
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• 2007

This study investigated the influence of values associated with internet auctions and risks associated with participating in internet auctions. The results of this study were as follows: First, the values associated with internet auctions consisted of hedonic value, information value, and practical value. Among these values, hedonic value was the highest, and information value was the lowest. Second, He risks consisted of functional risk, privacy risk, socio-psychological risk, md financial risk. Among these risks, functional risk was the highest, and socio-psychological risk was the lowest. Results of regression analysis using demographic elements to inspect risk factors revealed sex, age, and income were statistically significant finally, with respect to demographic characteristics and influences of the aforementioned values and risks, the factors influencing participation in internet auctions were sex, age, hedonic value, functional risk and financial risk.

• Asian Journal for Public Opinion Research
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• v.8 no.4
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• pp.432-452
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• 2020

This study explored the representation of risks from the controversial Lynas rare earth refining as a risk event by five Malaysian online mainstream and alternative newspapers using qualitative content analysis. The aim is to uncover the role of the news media in the social amplification and attenuation of risks within the literature evidence as those roles are still uncertain. Content analysis is used to explore the online newspapers' roles guided by the Social Amplification of Risk Framework (SARF). The representations typified environmental, financial, health, occupational, property, radioactive, and technological risks and established connections between four risk types (environmental, financial, radioactive, and health risks). Radioactive risk was repeatedly associated with other risks, suggesting that the volume and information flow focused on radioactive risk as a key ingredient for amplification. This connection shows that the nature of the relationship between risks is multidimensional, contradicting the unidirectional type found in previous studies. Alternative online newspapers amplified and attenuated more risks, thus, providing more diverse coverage than mainstream sources. Consequently, this study provides evidence that risk representation from rare earth refining in a digital news environment is multidimensional and intensified or weakened in a multi-layered pattern. The stakeholders are engaged in a contestation by positioning their narratives to oppose or support their interests, which are amplified or attenuated by the online newspapers as social amplification stations.