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학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
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연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 저널정보
- 한국자료분석학회 Journal of The Korean Data Analysis Society Journal of The Korean Data Analysis Society 제15권 제6호
- 발행연도
- 2013.1
- 수록면
- 2,937 - 2,947 (11page)
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초록· 키워드
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This study examines the relationship between capital buffer of Korean credit card firms and financial policy under economic condition such as business cycle and financial market situation. The main focus of this study is to review whether Korean credit card firms can meet the capital buffer requirement pursuing by supervisory authorities under regulation for leverage and fee limitations in terms of precautionary motivation perspectives. According to the analysis results, first, business cycle did have positively significant influence on capital buffer. Thus, the pro-cyclicality of capital buffer to business cycle exists in Korean credit card firms. Second, market rate and foreign exchange rate have significantly impact on capital buffer. Due to increasing the cost of capital for credit card firms, the relationship between capital buffer and market rate or foreign exchange rate is negative. Specifically, higher interest rates and weaker Korean currency reduce the amount of capital buffer. Third, leverage limit of supervisory authorities leads to increased capital buffer as suggested by Milne, Whalley (2001). However, it is found that tight fee regulation does not contribute to increasing capital buffer. As the policy implication, stronger leverage limit of supervisory authorities results in making the Korean credit card firms reserve up more capital buffer.
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참고문헌 (16)
참고문헌 신청
Ayuso, J. / 2004 / Are Capital Buffers Pro-cyclical? Evidence from Spanish Panel Data / Journal of Financial Intermediation 13 : 249 ~ 264
Borio, C. / 2001 / Pro-cyclicality of The Financial System and the Financial Stability: Issues and Policy Options : 1 ~ 57
Crockett, A. / 2001 / Market Discipline and Financial Stability. In: Financial Stability Review : 166 ~ 173
Hodrick, R. / 1997 / Power U.S. Business Cycles: An Empirical Investigation / Journal of Money, Credit, and Banking 29 : 1 ~ 16
Jimenez, G. / 2008 / Hazardous Times for Monetary Policy : What do Twenty-Three Million Bank Loans Say about the Effects of Monetary Policy on Credit Risk-Taking? : 1 ~ 52
Borio, C. / 2001 / Pro-cyclicality of The Financial System and the Financial Stability: Issues and Policy Options : 1 ~ 57
Crockett, A. / 2001 / Market Discipline and Financial Stability. In: Financial Stability Review : 166 ~ 173
Hodrick, R. / 1997 / Power U.S. Business Cycles: An Empirical Investigation / Journal of Money, Credit, and Banking 29 : 1 ~ 16
Jimenez, G. / 2008 / Hazardous Times for Monetary Policy : What do Twenty-Three Million Bank Loans Say about the Effects of Monetary Policy on Credit Risk-Taking? : 1 ~ 52
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