Korean Journal of Financial Studies

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Korean Journal of Financial Studies has been published since 1980. In 2006 it was divided into two journals: Asia-PacificJournal of Financial Studies (AJFS), the first Social Science Citation Index (SSCI)-listed finance journal in Asia, and Korean Journal of Financial Studies (KJFS). AJFS covers financial markets and the financial services industry in Asia, and is published in English. KJFS focuses on financial markets and the financial services industry in Korea and publishes articles written in Korean or English. Korean Journal of Financial Studies publishes bimonthly original research articles that focus on empirical and theoretical research on Korean financial markets and financial services industry. Papers in the following field will be considered: investments, financial markets, market microstructure, corporate finance, and quantitative methods of particular relevance to financial researchers."> <link rel="shortcut icon" href="/image/icon/favicon.ico"> <link type="text/css" rel="stylesheet" href="/css/common_v1.1.css" /> <link type="text/css" rel="stylesheet" href="/css/style.css?1739754922" /> <script type="text/javascript" src="/script/jquery.js"></script> <script type="text/javascript" src="/script/jquery.placeholder.js"></script> <script type="text/javascript" src="/script/jquery.bxslider.min.js"></script> <script type="text/javascript" src="/script/user.js"></script> <script src="https://code.jquery.com/jquery-latest.min.js"></script> <script type="text/javascript"> //<![CDATA[ $(document).ready(function(){ $("#gnb>li").mouseover(function(){ $(".globalSearch").css("display", "none"); }); }); function journal_download(type, sid, filename) { var increase_column; if(type == 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ARTICLES</li> <li> Previous issue </li> </ul> </dd> </dl> </div> <div style="height: 10px;"></div> <table cellpadding="0" cellspacing="0" border="0" width="100%"> <tr> <td align="center" style="padding-bottom:0px;"> <table border="0" width="100%" cellpadding="0" cellspacing="0"> <tr> <td width="25%" align="left"><a href="/current/index.php?vol=11&no=1"><img src="/image/button/b_previous.gif"></a></td> <td width="50%" align="center"><font style="font-size:15pt;line-height:16pt;font-weight:bold;color:#010037;">Volume 12(1); 1990</font></td> <td width="25%" align="right"><a href="/current/index.php?vol=13&no=1"><img src="/image/button/b_next.gif"></a></td> </tr> </table> </td> </tr> </table> <div style="width: 100%; font-size: 14pt; color: #010037;"></div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=104"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">주식병합이 주가 및 거래량에 미친 영향의 실증연구</span></a> </dt> <dd style="color: #6f6f6f;"> 김대호 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):1-40. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "104", "kjfs-1990-12-1-1.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=105"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">금융정보 시스템의 안전대책에 관한 연구</span></a> </dt> <dd style="color: #6f6f6f;"> 김세헌 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):41-63. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "105", "kjfs-1990-12-1-41.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=106"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">복수기간(複數期間) 증권가격결정모형에 관한 실증적 연구</span></a> </dt> <dd style="color: #6f6f6f;"> 김태혁 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):65-87. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "106", "kjfs-1990-12-1-65.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=107"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">한국 주식시장과 채권시장에서의 수익율 예측에 관한 연구</span></a> </dt> <dd style="color: #6f6f6f;"> 남상구, 엄경식 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):89-115. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "107", "kjfs-1990-12-1-89.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=108"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">시가발행 할인율 변동과 주가</span></a> </dt> <dd style="color: #6f6f6f;"> 윤순석 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):117-146. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "108", "kjfs-1990-12-1-117.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=109"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">법인세 과세소득(課稅所得)에 대한 주가 반응</span></a> </dt> <dd style="color: #6f6f6f;"> 이만우 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):147-170. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "109", "kjfs-1990-12-1-147.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=110"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">인플레이션과 주가간의 관계에 대한 연구</span></a> </dt> <dd style="color: #6f6f6f;"> 박윤수 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):171-198. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "110", "kjfs-1990-12-1-171.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=111"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">한국 증권시장에서 주가지수선물(株價指數先物)의 헷징효과에 관한 의태분석(擬態分析)</span></a> </dt> <dd style="color: #6f6f6f;"> 장경천 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):199-227. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "111", "kjfs-1990-12-1-199.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=112"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">재무자산의 수익율과 물가상승율의 인과성에 관한 연구</span></a> </dt> <dd style="color: #6f6f6f;"> 장대홍 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):229-244. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "112", "kjfs-1990-12-1-229.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=113"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">내부자거래의 예방대책에 관한 연구</span></a> </dt> <dd style="color: #6f6f6f;"> 전춘옥 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):245-280. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "113", "kjfs-1990-12-1-245.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=114"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">도산예측(倒産豫測)에 있어 주가관련정보간의 경로 모형에 관한 실증적 연구</span></a> </dt> <dd style="color: #6f6f6f;"> 정대용 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):281-321. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "114", "kjfs-1990-12-1-281.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=115"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">선물옵션 가격평가 모형의 이자율 헤징 효과분석</span></a> </dt> <dd style="color: #6f6f6f;"> 한완선 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):323-345. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "115", "kjfs-1990-12-1-323.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=116"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">제(諸) 경제지표(經濟指標)가 종합 및 업종지수에 미치는 영향에 관한 연구</span></a> </dt> <dd style="color: #6f6f6f;"> 김철교, 박정욱, 백용호 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):347-374. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "116", "kjfs-1990-12-1-347.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=117"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">한국 종합주가지수 예측모형 비교</span></a> </dt> <dd style="color: #6f6f6f;"> 권영준, 김성태, 이홍, 신기철 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):375-402. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "117", "kjfs-1990-12-1-375.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=118"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">회계이익, 배당금 및 증권가격간의 축차관계(逐次關係)에 대한 실증적 연구</span></a> </dt> <dd style="color: #6f6f6f;"> 정기영, 황윤식 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):403-432. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "118", "kjfs-1990-12-1-403.pdf")'>PDF</a>     </dd> </dl> </div> <div class="sub_journal"> <dl class="article"> <dt> <a href="/journal/view.php?number=119"><span style="font-family: Georgia; font-size: 18px; color: #2f312f;">우리나라 주가지수선물거래 도입의 타당성에 관한 연구</span></a> </dt> <dd style="color: #6f6f6f;"> 장충식, 이원흠 </dd> <dd style="font-size: 11px; color: #2f312f; font-weight:bold;""> <em>Korean J Financ Stud.</em> 1990;12(1):433-475. <font style="font-weight:normal;color:#6f6f6f;">  Published online September 30, 1990</font> </dd> <dd> <div style="position: relative;"> </div> </dd> <dd> <a class="icon5" onclick='journal_download("pdf", "119", "kjfs-1990-12-1-433.pdf")'>PDF</a>     </dd> </dl> </div> </div> <div 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