신용카드 시장의 구조에 입각한 카드사의 네트워크 확대전략이 성과에 미친 영향

This research focus on examining empirically what network resources affect on the management performance side of Profitability (ROE, Net Income), Capital adequacy (Equity capital), and Asset soundness (sub-standard and loan ratio) using seasonal panel data from 1998 to 2004. The credit card market is a part of the network system. Especially there are distinct two-sided network. One-sided is the cardholder side and the other-sided is the merchant. Using this two-sided network structure, credit card company takes a strategic behavior which expand network resources to make good performances. Considering a government deregulation in credit card market, credit card company try to gain a competitive advantage by using network effect. The result of this empirical study is that the two networks variables affect firm performance in the profitability side (net income, ROE). Merchant network variable affects positively, but the card holder network variable effect negatively at a significant level. In the capital adequacy side (equity capital), merchant network has no result insignificantly but card holder network contributes to a negative effect on credit card firms. In the asset soundness (sub-standard and loan ratio), merchant network has a negative effect but card holder network have no result significant level.