• 문화기술의 융합
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• 제8권4호
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• pp.83-89
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• 2022

본 연구는 은행 대출이 주택가격에 미치는 영향을 분석하였으며, 은행 대출을 은행 총대출금, 가계대출금, 부동산담보대출금으로 구분하였고, 주택가격을 전국, 지방, 서울 주택가격으로 구분하여 분석하였다. 주요한 분석 결과는 다음과 같다. 첫째, 은행 총대출금의 증가는 전국, 지방, 서울 주택가격을 유의하게 상승시키는 것으로 나타났다. 둘째, 가계대출금은 지방 주택가격에 양(+)의 영향을 미치지만 통계적으로 유의하지는 않은 것으로 나타났다. 그리고 은행 대출이 지방 주택가격에 미치는 영향은 전국 주택가격에 미치는 영향에 비해서는 상대적으로 작은 것으로 나타났다. 셋째, 은행 대출이 지방 주택가격과 서울 주택가격에 미치는 영향은 차이가 있는 것으로 나타났다. 넷째, 인플레이션과 은행 총대출은 1분기의 시차를 가지고 지방 주택가격에 유의한 양(+)의 영향을 미쳤으며, 단기금리는 1분기의 시차를 가지고 서울 주택가격에 유의한 음(-)의 영향을 미쳤다. 전체적으로는 은행 대출이 주택가격에 미치는 영향이 지방보다는 서울에 약 2배 정도 더 큰 양(+)의 영향을 미치는 것으로 나타났다.

• 수산경영론집
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• 제37권3호
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• pp.45-63
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• 2006

A number of public loans with lower interests and other tax benefits have been provided for farmers and fishermen. However, much of those loans have been accumulated as non-performing. The result is that a large part of fisheries debts are now on the verge of default, Those loans, that fail to pay interests, keep rapidly growing like a time bomb. Now something has to be done before it burst. Firstly, the government must clean up the debts caused by government's mismanagement in the past. The past debt must be repaid or written off by the government since its guarantee was committed several times in guidelines regarding public loans. As such a measure, the government can greatly enlarge its capital contribution to the Credit Guarantee Fund for Farmers and Fishermen and Loss Guarantee fund for Policy Loan. It would greatly help to compensate local branches of fisheries cooperatives for their loss incurred from carrying public loans. In the past, the government used to roll over old debts of fishermen with new debts whenever maturity came. It ends up growing the size of non - performing loans. For this reason, it is not delay of the debt payment, but its write - off that fishery society needs a lot. Secondly, the loan authorities must lower overall risk in providing public loans for fishermen in the future. The whole process must be thoroughly reviewed and changed to provide and manage government loans. To facilitate this, fisheries cooperative must stop being just a public agent, rather take a bigger responsibility in selecting, and checking loan beneficiaries, and securing debt repayment. Incentives must be arranged properly enough to induce fisheries cooperatives to treat public loans just like their own business. Finally, the so - called 'special account of policy loan in fisheries industry' must be set up to enhance the transparency and to check the performance of public loans programs.

• Journal of the Korean Statistical Society
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• 제4권2호
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• pp.113-125
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• 1975

The money market has been existing in various forms for a long time. Until 1972, however, the market had supplied mainly short-term loans of commercial banks and loans of informal money lenders to business corporations. There was no market for notes and commercial papers of business corporations. Consequently, business corporations had to rely primarily upon commercial banks for short-term credit loans to supplement their working capital. The interest rate on loans of commercial banks had been set below a free market equilibrium rate and thereby, generated excess demands for the loans. Unsatisfied potential borrowers thus had to turn to informal money lenders for short-term cerdit loans of prohibitively high interest rate. Since 1972 investment and finance companies have been operating in the money market and their role in mobilizing short-term loans is increasing. This paper aims at estimating the equilibrium size of the money market.

• East Asian Economic Review
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• 제26권3호
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• pp.179-204
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• 2022

This study examines the extent to which policy-based loans to SME exporters affect their export performance (the intensive margin of exports). We also investigate the heterogeneous export effects of policy-based loans that may depend on firm- and industry-specific characteristics, such as credit ratings, debt-to-assets ratios, firm size and age. To do so, we conduct a survey, of 1,000 Korean SMEs, that collect information on firm-level exports and policy-based loans. The main empirical findings strongly support that SMEs that receive policy-based loans tend to increase their export volumes. However, these loans' positive impact on exports are only valid for SME exporters with credit scores of 12 or greater (that is, SMEs that have difficulty accessing the external financial market). The estimation results with respect to SMEs' dependence on external financing imply that policy-based loans for SMEs in sectors that are heavily dependent on external finance are effective in that they are instrumental in increasing these firms' exports. These empirical findings emphasize the importance of the external financial market to SME exporters who face various up-front investments that are related to their exporting activities.

• 비교문화연구
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• 제24권
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• pp.99-111
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• 2011

This paper is a comparative study of English loans in Russian and Swahili. In the twenty first century, due to the advantage of English as a global language, a language of technology and business, it has had contact with many languages of the world and has become a major source of loans to many languages. Though very different from each other, both Russian and Swahili currently have English as their main source of loanwords. This study reports the extensive adaptation of English loans by Russian and Swahili and examines how these loan items are assimilated into the two languages. It concludes that besides the adaption of pure English loans they have both employed other strategies such as loan translations, semantic extensions and loanblends for vocabulary expansion.

• 벤처혁신연구
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• 제2권2호
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• pp.117-126
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• 2019

본 연구는 최근 5년간(2012년 ~ 2016년) 국내 시중은행, 지방은행 및 특수은행의 재무제표와 대출구조, ROA, ROA 변동성을 사용하여 상관관계분석 및 다중회귀분석을 실시하였으며, 주요 실증분석 결과는 다음과 같다. 첫째, 상관관계분석 결과 은행의 ROA는 가계대출, 중소기업 대출과는 정(+)의 상관관계가 있으나, 대기업대출, 업종편중율, 대손충당금 비율과는 부(-)의 상관관계가 있는 것으로 나타났다. 둘째, ROA 변동성은 가계대출, 중소기업 대출과는 부(-)의 상관관계가 있으나, 대기업 대출, 업종편중율, 대손충당금 비율과는 정(+)의 상관관계가 있는 것으로 나타났다. 셋째, 회귀분석 결과 은행의 ROA 변동성에 통계적으로 유의한 영향을 미치는 변수는 가계대출, 중소기업대출, 대기업대출로 나타났다. 이러한 실증분석결과로부터 이익 변동성이 큰 특수은행들은 정책금융 외의 영역에서는 경영성과 달성을 위해 대출 형태와 업종을 분산 할 필요가 있으며, 특히 상업적인 역할이 큰 수협은행, 농협은행은 단기적인 수익에 집중하여 단위당 규모가 크고, 재무적 정보를 획득하기 쉬운 대기업이나 대규모 대출에 집중하는 것보다는 심사 기법 등의 역량 개발을 통해 가계대출, 중소기업 대출에도 경영역량을 집중해야 할 것으로 보인다.

• 한국경영과학회지
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• 제34권2호
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• pp.1-13
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• 2009

In this paper, we develop theoretical game models to determine the level of government subsidies for banks to provide policy loans to Innovative SMEs(small and medium sized enterprises) through banks, which otherwise would not finance them for the sake of their own profitability. For this, we compare net cash flows of each bank using different strategies against high risk innovative SMEs. A bank can decide whether to provide them loans or not In each period. Following Kim(2003)'s Infinite horizon model on the soft budget constraint, we introduce a situation in which banks compete against each other for higher net long-term payoffs from their loans to innovative SMEs and non-innovative SMEs. From the models, we show that competition among banks in general leads to a tighter decision against innovative SMEs, as a Nash equilibrium. It is not because the government bank is simply loose in providing loans, but because competition among commercial banks for fewer riskier borrowers results in tighter loan decisions against innovative SMEs. Thus, the competitive market for policy loans to innovative SMEs fails to reach the socially optimal level of loans for innovative SMMs. Commercial banks in the competitive market may require additional supports from the government to make up for the differences in their payoffs to support innovative SMEs, possibly much riskier due to moral hazards and poor discounted cash flows. The monopolistic government bank might also request such supports from the government to fund otherwise unqualified SMEs. We calculate an optimal level of governmental support for banks to guarantee funding such high-risk innovative SMEs over periods without deviating from their optimal Nash equilibrium policies.

• 아태비즈니스연구
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• 제11권4호
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• pp.189-203
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• 2020

Purpose - This study aims in analyzing the dynamic relationship between household loans and housing prices according to the characteristics of depository institutions after the financial crisis, identifying the recent trends between them, and making policy suggestions for stabilizing house prices. Design/methodology/approach - The monthly data used in this study are household loans, household loan interest rates, and housing prices ranging from January 2012 to May 2020, and came from ECOS of the Bank of Korea and Liiv-on of Kookmin Bank. This study used vector auto-regression, generalized impulse response function, and forecast error variance decomposition with the data so as to yield analysis results. Findings - The analysis of this study no more shows that the household loan interest rates in both deposit banks and non-bank deposit institutions had statistically significant effects on housing prices. Also, unlike the previous studies, there was statistically significant bi-directional causality between housing prices and household loans in neither deposit banks nor non-bank deposit institutions. Rather, it was found that there is a unidirectional causality from housing prices to household loans in deposit banks, which is considered that housing prices have one-sided effects on household loans due to the overheated housing market after the financial crisis. Research implications or Originality - As a result, Korea's housing market is closely related to deposit banks, and housing prices are acting as more dominant information variables than interest rates or loans under the long-term low interest rate trend. Therefore, in order to stabilize housing prices, the housing supply must be continuously made so that everyone can enjoy housing services equally. In addition, the expansion and reinforcement of the social security net should be realized systematically so as to stop households from being troubled with the housing price decline.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.647-654
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• 2021

This study examines the non-performing loans of rural banks and macroeconomic factors in Indonesia, including inflation, exchange rates, and interest rates. Theoretically, the existence of erratic macroeconomic conditions can affect the level of non-performing credit risk in rural credit banks in Indonesia. The effect of macroeconomic conditions on non-performing loans has a different response for each economic sector. The main objective of this study is to determine the effect of macroeconomic factors (inflation, exchange rates, and interest rates) and bank-specific factors (credit) on the Non-Performing Loans (NPL) of Rural Banks in Indonesia for the period from January 2015 to December 2018. This study uses a Vector Error Correction Model (VECM) estimation to determine the effect of independent variables consisting of macroeconomic factors and bank-specific factors. Based on the estimation results of the Vector Error Correction Model, three variables that have a positive and significant effect on long-term non-performing loans are credit, inflation, and interest rates. Meanwhile, in the short term, there are only two variables that have a positive and significant effect on non-performing loans, namely, credit and interest rates. Inflation and exchange rate variables have a negative and insignificant effect on bad credit in the short term.

• Communications for Statistical Applications and Methods
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• 제17권5호
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• pp.697-712
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• 2010

이 연구의 목적은 우리나라 생명보험사들의 보험계약대출(약관대출) 수요에 대한 통계적 분석과 그 예측을 위한 확률모형을 개발하는 데 있다. 이를 위해, 먼저 대출 금리가 정책적 변화를 거친 1999~2008 기간 동안 우리나라 보험계약대출의 수요계열에 대한 추세, 주기성, 종속성 등 확률 및 통계적 특성을 파악하였다. 다음에, 교차상관분석을 통해 대출수요와 인과관계를 가질 수 있는 경제변수들과의 상호관련성을 밝히고, 특히 소비자 물가지수가 보험계약대출 수요를 선도하고 있음을 밝혔다. 마지막으로, 이러한 결과를 기초로 보험계약대출 수요의 예측을 위한 단변수모형 그리고 선도변수계열을 이용한 전이함수모형을 각각 완성하고 그 효과를 비교 평가하였다. 마지막으로 유도된 확률모형을 이용하여 보험계약대출 수요예측의 통계적 절차를 제안하였다.