Undergraduate Student Jaemin Son publishes Thesis in Q1 SSCI Academic Journal 2022.09.19
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Undergraduate Student Jaemin Son (Adviser Prof. Doo Jin Ryu) 

publishes Thesis in Q1 SSCI Academic Journal

▲Student Jaemin Son (Confucian Studies and Eastern Philosophy) and Prof. Doo Jin Ryu (Department of Economics)

In collaboration with Student Jaemin Son (Confucian Studies and Eastern Philosophy, Undergraduate 4th grade) and Professor Doo Jin Ryu (Department of Economics, Adviser), the paper titled “Consumer Choices under New Payment Methods” has been published in the Business/Finance field Q1 (Journal Citation Reports Top 7%, Clarivate Analytics) SSCI academic journal, ‘Financial Innovation’ (Impact Factor = 6.793). They also published a thesis on Korea’s best KCI academic journal in the business field, ‘Korean Management Review’, with the title: “The Central Bank’s Digital Currency Issuance and the Profitability of Commercial Banks”. An undergraduate student publishing a paper in a top-notch Economics/Business academic journal as a first author is an unprecedented case. Student Jaemin Son took the so-called best lecture in the Finance field, ‘Financial Derivatives’, by Professor Doo Jin Ryu and after completing an undergraduate research project under the supervision of Professor. Ryu, the two research papers were published.

Various Central Banks of the world are currently reviewing the adaptation of Central Bank Digital Currency (CDBC) to substitute cash. The first research suggests that when CDBC is issued, the profitability of market banks can be endangered through a theoretical model. If the central bank issues CDBC and virtual assets capable of paying such as Stablecoin emerge, the consumer and investor can establish a portfolio in between numerous payment methods. The second research investigates principles of consumer choice among various payment methods (cash, check, CBDC, Stablecoin) with a systematic approach.

The information of published works is:

Son Jaemin, Ryu, Doo Jin. (2022) The Central Bank’s Digital Currency Issuance and the Profitability of Commercial Banks, ‘Korean Management Review’, Vol. 51 – No. 3, 789~809


Son, J., Bilgin, M.H., Ryu, D. (2022). Consumer choices under new payment methods. Financial Innovation (SSCI), 8, 82, Springer.


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