> Journal of Money and Finance > Editing Bylaws Used in JMF
|The bylaws set forth the regulations
on how to operate the Editorial Board of Journal of Money
and Finance in accordance with the agreement reached between
Korea Money and Finance Association (“KMFA”) and Korea
Institute of Finance (“KIF”) (Agreed on 26 of June 2007,
revised on 23 of December 2008).
KMFA and KIF shall publish Financial Research as the integrated
academic journal of the two institutions for the development
of the study of finance and Korea’s financial industry.
Journal of Money and Finance is aimed at providing opportunities
for research publication and academic discussions as well
as contributing to the accumulation of financial knowledge
and education by publishing professional and creative
research papers with theoretical, empirical and policy
values in the areas of economics and business management
including macro-monetary economics, international finance
and foreign exchanges, financial institutions, finance
and capital market, and financial policy.
The bylaws are to ensure that the Editorial Board fulfills
its duty of publishing Financial Research in a fair and
transparent manner for such purposes.
||Anyone who is interested in the study
of finance can submit their research papers to Journal
of Money and Finance,
||provided that submitted papers follow the “Guideline
for Paper Writing and Submissions to Financial Research”.
||Research papers that have already
been published or are scheduled to be published
in other academic journals,
||separate volumes, or research reports, whether
disclosed or undisclosed, and other publications
are not allowed for submission, provided that research
papers presented at symposiums or seminars may be
submitted together with the papers that are submitted
to other academic journals but are not subsequently
||The author of a research paper is
fully responsible for its contents.
||The copyright of the research paper shall belong
to Journal of Money and Finance unless otherwise
||The Editorial Board shall take the
following as the evaluation criteria for paper submissions.
||(1) (Theoretical, empirical and policy)
contribution by research papers
(2) Creativity and specialty of the contents
(3) Accurate and detailed research methods
(4) Effective delivery of the contents
(5) Technically meeting the requirements for editing
||Journal of Money and Finance, in principle,
shall publish research papers covering all fields
of financial research equally
|| in the event that too many papers meet the evaluation
criteria described in Paragraph 4 above.
||Research papers shall be carried in
Journal of Money and Finance in the order of publication
confirmation date in principle,
|| and a leading research paper in both monetary
economics and finance shall be published in the
journal as the lead article alternatively.
||A certificate of planned publication
shall be issued upon request from the author for
papers for which publication has
|| been confirmed.
||In early June each year, among the
research papers published between the June issue
of the previous year and the
|| March issue of the given year, the Editorial
Board may select and make a prize recommendation
for the best paper from each area of macro-monetary
economics, international finance and foreign exchange,
financial institutions, finance and capital market,
and financial policy.
||Journal of Money and Finance , in
principle, shall be issued four times a year (at
the end of March, June, September
|| and December), and a special issue can be published
at the request of the Board of Directors of KMFA
Ⅱ. The Editorial Board and Editorial Meetings
||Composition and operation of the editorial
||(1) The Editorial Board shall be
composed of an Editor-In-Chief, two Lead Editors
and no more than thirty editorial staff members.
The Editor-In-Chief shall be appointed by the Board
of Directors of KMFA from among financial researchers
equipped with both academic knowledge and culture
in consultation with the Chairperson of KIF. The
Editor-In-Chief shall recommend the appointment
or replacement of editorial staff members to the
Board of Directors.
(2) Terms of office for the editors and editorial
staff members shall be two years and can be extended
for further terms.
(3) The Editor-In-Chief shall preside over editorial
meetings and shall become a managerial staff member
of KMFA. One of the Lead Editors shall represent
the monetary sector, while the other shall represent
the sector of finance. The Lead Editors shall be
responsible for the editing of research papers of
their fields in consultation with the Editor-In-Chief.
(4) The Editorial Board may have two editing administrators
chosen from among the editorial staff members.
||(1) Each year, the Editorial Board
may host regular ordinary meetings and extraordinary
meetings convened by the Editor-In-Chief.
(2) The attendance of a majority of the total editorial
staff members and the concurrence of a majority
of the members present shall be necessary for decisions
of the Editorial Board.
(3) Editorial meetings shall be deemed valid by
post including email. In this event, decision making
shall follow the regulations set forth in Paragraph
(4) In the absence of the Editor-In-Chief, the elder
of the two Lead Editors shall fulfill the role of
(5) Meeting minutes shall be made at the time of
Ⅲ. Evaluation of Research Papers
||Acceptance of research paper submission
and the 1stroundofpaperscreening
||(1) The Editor-In-Chief shall accept
research paper submissions at any time throughout
the year. Upon receipt of the paper, the Editor-In-Chief
shall examine whether the given paper is prepared
in accordance with the Guideline for Paper Writing
and Submissions to Financial Research (“Guideline”)
and then send a receipt confirmation to the submitter.
In the event the research paper fails to meet the
Guideline, the Editor-In-Chief shall return the
paper to the author and request corrections and
a renewed submission.
(2) Upon receipt of the paper, the Editor-In-Chief
shall send it immediately to one of the two Lead
Editors taking into consideration the field of research.
(3) The Lead Editors shall select two judges from
experts in the related fields and request paper
evaluation upon agreement from the judges. The Lead
Editors, however, may request evaluation, if it
is deemed necessary, in consultation with editorial
staff if there are difficulties in the selection
(4) It should be ensured that the Lead Editors may
know who judges and the author of the research paper
are but judges and paper authors do not know each
(5) The Lead Editors shall send the research paper
to judges, and the judges send back their decisions
regarding whether to publish the paper or not together
with their comments to the Lead Editors within three
weeks time unless there are valid reasons to do
(6) The decision on the publication shall be made
in four categories: to be published immediately,
to be published after modification, to be re-evaluated
after modification, or not to be published. Judges’
comments shall come in two types, overall comments
and detailed correction requests and the form suggested
by the Editorial Board shall be used in principle.
The judges, however, may use similar forms or provide
additional information for their convenience.
(7) The results of the 1stroundpaperscreening,inprinciple,shallbenotifiedtotheauthorwithinsixweeksafterthepaperreachedtheEditor-In-Chief.
(8) The Editorial Board shall provide KRW 200,000
to the judge upon receiving his or her evaluation
comments for the research paper concerned.
||B. Evaluation criteria
||(1) In the event that more than one
judge has eventually decided on “Not to be published”,
the Lead Editors shall end the evaluation process
and notify the author of the result. In the event
the other judge decides on “To be published immediately”,
however, the Editor-In-Chief may select a third
judge and request further evaluation in consultation
with the Lead Editors. The evaluation fee for a
third judge shall be borne by the Editorial Board.
(2) In the event that more than one judge has decided
on the research paper “To be re-evaluated after
modification”, the Lead Editors shall request further
evaluation from the same judge upon ensuring that
the author has submitted his or her research paper
after faithfully addressing the
judges’ modification requests.
(3) In the event both judges have decided on a level
of “To be published after modification” or higher,
the Lead Editors shall request modification by the
author, but judges’ re-evaluation may be omitted.
||The 2nd round of evaluation and the
conclusion of evaluation
||A. The 2nd round of evaluation
||(1) error 다시문구넣야함
(2) The Lead Editors shall send the modified papers
and answer sheets to the judge(s) who decided on
“To be re-evaluated after modification” and request
(3) Judges shall submit the results of their re-evaluation
within three weeks time, but the decision on whether
to publish the paper or not can be made in three
categories only: “To be published immediately”,”
To be published after modification”, or “Not to
||B. Conclusion of evaluation
||(1) In the event that more than one
judge has decided on “Not to be published” at the
2nd round of evaluation, the evaluation process
is closed and this shall be notified to the author
of the paper.
(2) In the event that one judge has decided on “To
be published after modification” at the 2nd round
of evaluation, a re-modification request can be
made to the author and the Editor-In-Chief and the
Lead Editor concerned shall examine modifications,
and this will close the evaluation.
(3) When both judges have decided on “To be published
after modification” or higher in the process of
the 1st or 2nd evaluations, it is considered that
the paper is confirmed for publication. The Lead
Editors may issue a certificate of planned publication
at the request of the author.
(4) The Editorial Board may terminate the evaluation
of the paper in the event a modified paper is not
submitted within a year following the 1st or 2nd
round of evaluation, provided that a notice shall
be sent to the author to that extent ten months
after the modification request.
||C. Reversal by and responsibilities
of the editor-in-chief
|| (1) The Editor-In-Chief may reverse
the results of the 1st and 2nd round of evaluations
when it is deemed necessary for editorial purposes,
provided that the Editor-In-Chief shall consult
with the Lead Editors and report the results to
the Editorial Board in advance.
(2) The Editor-In-Chief shall continuously strive
to ensure that the editing of Financial Research
is conducted in a fair and transparent manner.
||(1) The following are the forms relative
to the evaluation procedure.
① A form for the notification of the hosting of
a general editorial board meeting
② A form to confirm a paper submission
③ A request form to appoint a judge
1). A request form to appoint two judges for a research
paper that is submitted for the first time
2). A request form to appoint a further judge in
the event just one judge decides on “Not to be
④ A paper evaluation request form
1). For the 1stevaluation
2). For the 2ndevaluationofthefirstsubmittal
3). Evaluation comments
4). Judges’ comments
5). Judges’ bank account information
⑤ A form for the notification of re-evaluation after
⑥ A form to request submission of papers scheduled
to be published or modified
⑦ A form for the notification of confirmed publication
⑧ A form for judges to confirm a modified version
⑨ A form to request author’s modification
⑩ A form to confirm a planned publication
⑪ A form to notify a failure to pass review for
(2) Signatures in the forms may be omitted when
they are exchanged via electronic medium including
|| There shall be no fixed deadline
for the submission of papers, and research papers,
in principle, shall be carried in the
||issue of the publication if their
modifications are completed before the hosting of
the editorial meeting prepared for the
publication of the issue concerned following the
2nd round of evaluation.
||If a paper has passed the review stage
but cannot be published in the issue concerned for
editorial reasons, the paper
|| may be published in the following
issue on a decision by the Editorial Board, provided
that the Editor-In-Chief shall notify
the author of the reasons immediately.
||If the author of a paper which was
reviewed as not publishable in the screening process
submits the paper again after
||modifying it, the Editorial Board
shall regard the paper a new paper.
The evaluation fee of KRW 60,000 shall be collected
again and two judges shall be newly selected.
||All other matters shall be subject
to the decision by the Editorial Board.