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In this study, we would be interested in knowing how commercial banks use derivatives and analyze its effect on the firm vale in Korea. We find that the derivatives transaction by banks increases during the analysis period and that banks use the derivatives mostly for speculation rather than hedging. Foreign exchange risk is mostly concerned for the purpose of risk hedging, and forward and/or futures are preferred to other derivatives such as option or swap. We also find that the usage of derivatives has a positive effect on the firm value of Korean commercial banks.

This study examines the foreign currency derivatives trading of KOSDAQ firms and analyses the relations of derivatives trading and foreign exchange rate exposure in the period 2005~2010. The amount of derivatives trading reaches 27.7% of total assets for the trading firms before global financial crisis period (2005~2007). While, the amount decreases to 17.6% of total assets during the crisis period (2008~2010). These amounts are much greater than those of KOSPI firms which are calculated using similar data specification and periods. The variables which are usually adopted as determinants of derivatives trading do not explain the usage of derivatives in the analysis of period 2005~2007. These results suggest that KOSDAQ firms use derivatives not only foreign exchange risk managements but also trading purposes during this period. Test results do not show sufficient evidence that KOSDAQ firms use derivatives trading in an effective manner to manage foreign exchange rate exposure. In sum, test results suggest that to achieve the goal of managing foreign exchange rate exposure firms should estimate their open position in foreign currency properly before conducting foreign currency derivatives trading.

In this paper we analyze the incentives of derivatives usage and its effect on the risk management and value of firms in Korea. We find that Korean non-financial firms use derivatives not only by the economic incentives to hedge risks but also by the irrational incentives such as the profitability of derivative usage in the previous year. Further results show that the usage of derivatives has a negative effect on the risk management of the firm, which results in the decrease of the firm value. These results show that investors have doubt about the incentives and the effects of derivatives usage in Korea.

This paper aims to identify the relationship between participation motivation, satisfaction and exercise adherence intention of golf range users on the basis of self-determination theory.

For this purpose, the authors proposed research questions and a conceptual research model as well. Then, the authors surveyed users of golf ranges located in Seoul Metropolitan City and Gyeonggi-do province.

By applying convenience sampling, the authors received a total of 313 questionnaires. Results were as follows. First, among the participation motivation sub-factors, health-oriented motivation, achievement motivation, pleasure-oriented motivation and self-displayed motivation had a significant effect on emotional satisfaction, while achievement motivation and pleasure-orientation motivation had a significant effect on performance satisfaction. Second, the following participation motivation factors had a significant effect on exercise adherence intention: health-orientation motivation, achievement motivation and pleasure-orientation motivation. Third, among the satisfaction factors, emotional satisfaction and performance satisfaction both had a significant effect on exercise adherence intention.

This is one of the first papers to examine the relationships that exist between golf range users’ participation motivation, satisfaction and exercise adherence intention.

This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications, citations, impact factors, and centrality indices grew up in early 2010s, and diminished in 2020. Keyword network analysis reveals the JDQS's main keywords including behavioral finance, implied volatility, information asymmetry, price discovery, KOSPI200 futures, volatility, and KOSPI200 options. Citations of JDQS articles are mainly driven by article age, demeaned age squared, conference, nonacademic authors and language. In comparison between number of views and downloads for JDQS articles, we find that recent changes in publisher and editorial and publishing policies have increased visibility of JDQS.