HOME > 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.

 

I. Editing directions
 
1. 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”.
2. 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 published.
3. 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 indicated.
4. 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
5. 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.
6. 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.
7. A certificate of planned publication shall be issued upon request from the author for papers for which publication has
  been confirmed.
8. 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.
9. 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 and KIF.

Ⅱ. The Editorial Board and Editorial Meetings
 
1. Composition and operation of the editorial board
  (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.
2. Editorial meetings
  (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 (2) above.
(4) In the absence of the Editor-In-Chief, the elder of the two Lead Editors shall fulfill the role of the Editor-In-Chief.
(5) Meeting minutes shall be made at the time of editorial meetings.

Ⅲ. Evaluation of Research Papers
 
1. Acceptance of research paper submission and the 1stroundofpaperscreening
  A. Procedure
  (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 of judges.
(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 other.
(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 otherwise.
(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.


2. 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 a 2ndroundofevaluation.
There-evaluationrequestmayalsobemadetothejudgewhodecidedonthelevelof“Tobepublishedaftermodification”orhigher,ifitisdeemednecessary.

(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 be published.”
  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.

  D. Forms
  (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
published”
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 modification
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 of papers
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 publication

(2) Signatures in the forms may be omitted when they are exchanged via electronic medium including email.

Ⅳ. Other
 
1. 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.
2. 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.
3. 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.
4. All other matters shall be subject to the decision by the Editorial Board.