• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.59-72
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• 2020

This paper examines whether lending structure can lower credit risk by employing econometric techniques of panel data for the Vietnamese banking system at the bank level used by economic sectors from 2011 to 2016. New light is being shed on assessing the impact of each industry's debt outstanding on credit risk. Adopting findings from previous studies, we assess credit risk from two different sources, including loan loss provision and non-performing loan. Moreover, we also focus on observing lending structure in many different aspects, from concentrative levels to the short-term and long-term stability levels of lending structure. The Generalized Method of Moments (GMM) estimator was applied to analyze the relationship between concentration and banking risks. In general, the results show that lending concentration may decrease credit risk. It is interesting to observe that the Vietnamese commercial bank lending portfolios have, on average, higher levels of diversity across different sectors. In particular, the increase in hotel and restaurant lending contributes to decrease credit risk while the lending portfolios of banks in agriculture, electricity, gas and water increase credit risk. This study suggests the need for further analysis and research about portfolio risks in lending activities for maintaining efficiency and stability in the commercial banking system.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.981-992
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• 2021

This study identifies the determinants of potential failure of Islamic Peer-to-Peer (P2P) lending in Indonesia, and the mediating effect of Islamic ethics on reducing the potential for failure of Islamic P2P lending. This study uses primary data retrieved through questionnaires from the perspective of 152 stakeholders in Islamic P2P lending. Using a structural equation model (SEM), the study found that indebtedness, financing size, and governance have positive and significant relationships with the potential failure of Islamic P2P lending. This study provides evidence that the customer's internal conditions and the governance structure applied can increase the potential failure of Islamic P2P lending. Further, Islamic ethics is evidently able to partially reduce the potential failure of Islamic P2P lending by lessening risk management exposure, but it fails to address failure through Ponzi scheme exposure. As an implication, this study suggest that Islamic P2P lending must implement Islamic ethics more comprehensively by optimizing the advisory and supervisory role of the shariah board within their overall boards of directors also in their operational activities. Finally, it also adds to the existing knowledge on financial technology literature, particularly on the determinants of potential failure of financial technology from the perspective of stakeholders.

• Journal of Information Technology Applications and Management
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• 제21권4_spc호
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• pp.485-499
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• 2014

Sharing Economy is the modern main item with ICT Development. Of course sharing economic item is the old and long run mainstream, but by the ICT technological development sharing economy is the fostering and affluent factors in the world economic growth. Though, in Korea, till now sharing economy is minimal, that will growth sharply. We can track various business models of sharing economy. Sharing economy is to buy use right not ownership. With the sharing economic business model wee can make also financial sharing model. In finance model we can divide two kind models. First, we can trace small size lending model with p2p type. And second, we can make financial information transaction model. But till now sharing economic system is not activated, because of many reasons. To activate, first we have to set law and various standards, and also government actively support many sharing economy firms and institutions. To catch up developed countries in the field of sharing economy we have to make aggressive and flexible rules and standards.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.195-210
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• 2020

This study describes the structure of the capital markets for small- and medium-sized enterprises (SMEs) and startup companies in Korea, which is an emerging market that has experienced drastic changes. The overall capital market can be divided into private and public capital markets. In the private capital market, most of the demand for capital comes from non-listed private firms, including startups and SMEs. In the case of SMEs and startups, the KOSDAQ, the Korea New Exchange (KONEX), and primary collateralized bond obligations (P-CBOs) are part of the public capital market. SMEs and startups are generally incapable of raising sufficient capital owing to their low credit ratings, and they largely have limited access to primary markets to issue shares and borrow money. The Korean government has developed a systematic financial aid program to provide funds to these companies. The fund for SMEs has significantly contributed to the development of the venture capital market. Many Korean banks provide substantial lending to SMEs, but this lending is available only because of the Korean government's loan recovery guarantee. Furthermore, SMEs can issue corporate debt in the form of primary collateralized bond obligations through government guarantees, but such debt issuances have placed increasing pressure on public guarantee institutions.

• KDI Journal of Economic Policy
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• 제14권2호
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• pp.109-153
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• 1992

본고(本稿)에서는 우리나라 은행산업(銀行産業)의 트랜스로그비용함수(費用函數)와 규모(規模) 및 범위(範圍)의 경제성(經濟性), 비용(費用)의 보완성(補完性) 그리고 경쟁적(競爭的) 생존력(生存力) 등 효율성지표들을 추정함으로써 은행산업(銀行産業)의 효율성(效率性)을 평가하고 제도개선방향(制度改善方向)에 대한 시사점을 논하였다. 추정결과에 의하면, 우선 규모(規模)의 경제성(經濟性)의 경우는 은행대출(銀行貸出)이 규모(規模)의 비경제하(非經濟下)에 있고 모든 다른 업무(業務)들은 규모(規模)의 경제(經濟)를 시현하고 있지만, 전업무에 걸친 규모(規模)의 경제(經濟)는 부재(不在)하는 것으로 관찰된다. 다음, 범위(範圍)의 경제(經濟)의 경우는 유가증권투자(有價證券投資)와 신탁자산(信託資産) 및 수신(受信) 등은 범위(範圍)의 경제하(經濟下)에 있는 반면, 은행예금(銀行預金)은 범위(範圍)의 비경제하(非經濟下)에 있고 전업무에 걸친 범위(範圍)의 경제(經濟)는 강한 것으로 관찰되고 있다. 그리고 비용보완성(費用補完性)의 경우는 유가증권투자(有價證券投資)가 은행대출(銀行貸出), 예금(預金) 및 신탁업무(信託業務)와, 그리고 신탁자산운용업무(信託資産運用業務)가 은행자산운용업무(銀行資産運用業務)와 각각 비용보완관계(費用補完關係)를 보이고 있는 반면, 은행예금(銀行預金)은 특히 은행대출(銀行貸出)과 그리고 신탁자산업무(信託資産業務)와 경쟁관계에 있다. 한편 은행산업(銀行産業)에는 경쟁적(競爭的) 생존력(生存力)이 부재(不在)하는 것으로 관찰되고 있다. 이상의 결과들의 시사점을 정리하면, 우선 은행대출(銀行貸出)은 상대적으로 규모를 축소하고 여타의 모든 은행업무(銀行業務)나 신탁업무(信託業務)들은 규모를 확대함으로써 효율성제고(效率性提高)에 기여할 수 있을 것이며, 은행예금(銀行預金)과 은행주변업무는 앞으로 금융(金融)의 심화(深化)가 진행되면 여타업무에서 분리되어 각각 독립 운영될 가능성이 높다. 유가증권업무(有價證券業務)와 신탁자산(信託資産) 및 수신업무(受信業務)들을 추가확대함으로써 은행업무(銀行業務)의 효율성(效率性)이 증대될 수 있을 것으로 보여 겸업주의(兼業主義) 은행제도(銀行制度)의 타당성은 높지만, 은행산업(銀行産業)의 자연독점적인 성격은 부재(不在)하여 섣부른 규모(規模)만의 확대(擴大)는 오히려 경쟁력(競爭力)을 저하시킬 수도 있을 것이다.

• 경영과정보연구
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• 제25권
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• pp.321-337
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• 2008

The house price rise suddenly is not only Economic stability but economic, mental state of a heavy burden to people. This paper is a house finance environment analyzed in this research about the rise factor of the house price and the result to present the plan to the natural disposition. The financial institute has an influence on the disguised demand extension of the house and The mortgage Lending in commercial Banks with the earnings as the stability high than the industry loaning. A house finance environment changes and will go from economic factor of the variety of the life style, the housing conditional according to the income level, a children education condition, and the population structure many this little. The disposition of the house need changes according to this and will have an influence on the house price. Necessary for a house market environment house policy of the market need which the consistency reflects so that we are suitable and is desired.

• 동아시아경상학회지
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• 제8권4호
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• pp.45-65
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• 2020

Purpose - This paper is to analyze the system and the models of financial analysis in the assessment of economic consistency and the creditability of borrower. To test the process of complex express-analysis, it is utilized by the concentric matrix models by using the matrix of 5×5.. Research design, data, and methodology - The estimation of economic consistency, the creditworthiness, the complex express-analysis with application of concentric matrix models were carried out on the basis of data of the report for the 2017 of corporations POSCO and in the first half of the 2018 Daewoo Shipbuilding & Marine Engineering of South Korea. Results - This paper focused on the unbalance of the corporate financial structure (capital, receivable) and the assessment of sustainability development, taking into account the liquidity, solvency, financial sustainability and economic viability of the enterprise. Conclusions - this paper also consider the theoretical means of regulating receivables. The material is presented in the pedagogical context and appendix of the conclusion.

• 한국문헌정보학회지
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• 제45권4호
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• pp.287-295
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• 2011

The Five Laws of Library Science was introduced into Japan in 1935. After World War II, it was widely disseminated among young librarians by the education for librarianship developed in the 1950's. Its concept, "Books for All," met a serious opposition from local authorities based on their long continued concept of "preservation." After they realized that people eagerly use local libraries, they interpreted that the duty of public library was "lending books." They introduced "Privatization" of libraries into quite a few local libraries in order to save money. For overcoming problems, it is important to disseminate the library concept among the public, the assembly members and government officials planning to change their attitude of disregarding libraries. As the fundamental library philosophy, the Five Laws of Library Science is important. In the commentary of the Five Laws written by the present writer, he included an illustration of triangle pyramid showing the structure of the Five Laws. He included here the spiral of study on the library and the library science, based on the Section 814 of the Five Laws. He welcomes discussions on his Japanese angle from different viewpoints in order to develop further understanding of the Five Laws.

• Journal of Information Processing Systems
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• 제16권4호
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• pp.935-958
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• 2020

The core value of finance is credit. It can be said that without credit, there can be no finance. The distributed structure of the blockchain and the low-cost trust-building mechanism based on mathematical algorithms provide a new solution and path for solving and optimizing related problems in the financial field. The blockchain technology is applied in the development of the financial industry through consensus mechanisms, smart contracts, and distributed networks. In this research, a comprehensive survey of the blockchain technology is proposed in the development of financial services including equity crowdfunding and credit investigations in inclusive finance, cross-border remittance, Internet financial payment, P2P lending, supply chains finance, and the application of blockchain in the field of anti-money laundering. This paper discusses the role of blockchain in solutions to different issues in the financial field. It also discusses the architectures in different financial service application scenarios from the perspective of the financial trust mechanism and the perspective of the technology and rule change of blockchain participation in financial innovation. Finally, the problems and challenges of blockchain in financial services are discussed, and corresponding solutions are proposed.

• 무역상무연구
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• 제61권
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• pp.273-302
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• 2014

Project finance ("PF") is a method of raising long-term debt financing based on lending against the cash flow generated by the project alone. Project finance is a nonrecourse or limited recourse financing structure against the sponsors(or the investors). The debt terms in a project finance are not based on the creditor's credit support or on the value of the assets of the project. Lenders rely on the future cash flow to be generated by the project for debt repayment and interest, rather than the value of the project or the credit ratings of the sponsors. The non-recourse or limited recourse financing usually prompt potential project finance lenders to assess carefully all possible risks that might arise in a project to ensure that those risks are mitigated and controlled. In this respect, project finance is a opposite financing method of corporate finance. Project finance has rapidly grown over the last 20 years due to the worldwide process of privatization of public sector and development of natural resources. Global project finance volume reached the record USD 406.5 billion in 2011. In 2012, however, Global project finance volume dropped 6% to USD 382.3 billion. Infrastructure overtook Energy to lead all sectors with USD 113.6 billion. It is generally recognized that there are more and higher risks in project finance compared with corporate finance. Project finance is exposed to commercial risks as well as political risks. The main commercial risks are completion risks, environmental risks, operating risks, input supply risks, revenue risks, etc, and the main political risks are currency convertibility and transfer risks, expropriation risks, war and civil disturbance risks, risks of breach of government concession agreement, etc. Completion risks include permits risks, risks relating to the EPC Contractor, construction cost overrun, delay in completion, inadequate performance on completion, etc.