지원사업
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 제16권 제6호
- 발행연도
- 2014.1
- 수록면
- 2,931 - 2,942 (12page)
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초록· 키워드
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This study examines empirically the relationship between income sources of Korean security firms and uncertainty of financial market. Through analyzing panel data of Korean security firms from the 1st quarter of 2005 to the 4th quarter of 2012. The main findings are as follows. First, operating income representing an overall profitability of security firms is significantly affected from stock price and market rate among the financial market variables. Bullish market and falling market rate contribute to increasing operating income. Second, major earning source of operating income, fee revenue is susceptible to financial market change such as stock price, foreign exchange rate between Korean won and U. S. dollar, and the volatilities of stock, interest rate, and foreign exchange market. Third, brokerage revenue is more vulnerable to financial market change than underwriting revenue among fee revenue. Brokerage revenue tends to be affected from most financial market change, but underwriting revenue is not significantly influenced by uncertainty of financial market except for market rate change. Fourth, size and liquidity effects, firm characteristics affecting profitability of financial institutions, exist discriminately affects earning sources of security firms.
목차
등록된 정보가 없습니다.
참고문헌 (15)
참고문헌 신청
Abreu, M. / 2001 / Commercial Bank Interest Margins and Profitability: Evidence from Some EU Countries / The Proceedings of the Pan-European Conference Jointly Organised by the IEF
Albertazzi, U. / 2009 / Bank Profitability and the Business Cycle / Journal of Financial Stability 5 : 393 ~ 409
Bhagat, S. / 2002 / The Non-correlation between Board Independence and Long-term firm Performance / Journal of Corporation Law 27 : 227 ~ 273
Blejer, M. / 2002 / Exogenous Shocks, Contagion, and Bank Soundness : A Macroeconomic Framework / Journal of International Money and Finance 21 : 33 ~ 52
Humphrey, D. B. / 2004 / Scale Economics, Bank Mergers, and Electronic Payments: A Spline Function Approach / Journal of Banking and Finance 27 : 1671 ~ 1696
Albertazzi, U. / 2009 / Bank Profitability and the Business Cycle / Journal of Financial Stability 5 : 393 ~ 409
Bhagat, S. / 2002 / The Non-correlation between Board Independence and Long-term firm Performance / Journal of Corporation Law 27 : 227 ~ 273
Blejer, M. / 2002 / Exogenous Shocks, Contagion, and Bank Soundness : A Macroeconomic Framework / Journal of International Money and Finance 21 : 33 ~ 52
Humphrey, D. B. / 2004 / Scale Economics, Bank Mergers, and Electronic Payments: A Spline Function Approach / Journal of Banking and Finance 27 : 1671 ~ 1696
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