International Academy of Financial Consumers
International Review of Financial Consumers
The IRFC is issued by the International Academy of Financial Consumers (IAFICO). IAFICO is headquartered in Seoul, South Korea. It is the only global academic institution focusing its research on financial consumers. It was created in 2014 by several Asian scholars who shared similar opinions regarding the importance of financial consumers in the global and regional economy. They believed the emphasis on financial consumers in current financial systems is not sufficient. Hence, existing forums should pay more attention to the cross-country comparison of experiences, ideas, or best practices from the perspective of financial consumers.
The IRFC was created with a goal of sharing relevant information on financial development, whether successes or failures, as well as discussing financial issues in an impartial manner from the perspective of financial consumers. Furthermore, the Journal seeks to find short- and long-term solutions for economic and social development, and to collectively suggest solutions to common issues across countries.
The IRFC journal was first published in 2016 after more than a year’s work, mainly owing to the efforts of its editor, professor Man Cho, and eminent authors across borders. The journal is a platform for sharing research and opinions and serves as a knowledge base and a symbol of IAFICO.
Membership. Regular members of IAFICO include university professors and academics. For the sake of the organization’s neutrality, membership is open to consumer activists, regulators as individual members and to non-profit organizations as institutional members. IAFICO shuns relationships with for-profit corporations in the industry. Its president cannot serve as a security broker or an outside director for any bank or insurance company etc. IAFICO has traditionally been run by individual scholars and financed by its individual members and several non-profit organizations.
We are committed to publishing only high quality research. Our policy on research ethics is based on recommendations of the Committee on Publication Ethics (COPE). COPE is an internationally recognized non-profit organization, dedicated to educating editors and publishers in publication ethics. Hence, authors are encouraged to study the IRFC’s ethics principles and abide by them.
Authorship and Contributorship
Authorship misconducts (or “misconducts”) may include fabrication, falsification, plagiarism, unfair representation of some authors. Misconduct may occur during research proposal, research performing, and research report and research presentation. By submitting their manuscript, authors confirm they are not engaged in any of these actions:
1) Fabrication is the intentional misrepresentation of research results by making up data or research result.
2) Falsification is the distortion of research contents or results by manipulating research materials, equipment and processes, or changing or omitting data or results.
3) Plagiarism is the appropriation of another person's ideas, processes or results, without giving appropriate approval or quotation. We define two types of plagiarism:
3.1) Using the original author's idea, logic, unique terms, data, system of analysis without indicating the source.
3.2) Indicating the source but copying the original paper's words, ideas, data and so on without quotation marks.
4) Self-plagiarism is the reusing of a large portion of author’s own previously written research.
Other misconducts include:
5) Indicating as authors those who did not contribute but are credited (“guest”, or “gift” authorships), and those who contributed but are not credited (“ghost” authors).
6) Obstructing investigation of their own or other authors’ misconducts.
7) Pressure on, suggestion or threat to others to do the above things.
8) Any other action which is usually unacceptable in the course of research.
In case that the Editorial Board reveals or suspects any misconduct, it will contact the author for clarification or contact an author’s institution for further investigation. Allegations of ethical misconducts may lead to rejection of the manuscript submitted for publication. If an ethical misconduct is revealed after publication of a manuscript, the article may be retracted or removed. We encourage authors and readers of the Journal to notify the Editorial Board of any alleged misconducts. The Board will keep the names of those who have notified anonymous.
Conflict of Interest
We are committed to identifying a conflict of interest whenever it arises. IRFC policies on the conflict of interest include responsibilities for authors, editors, board members and reviewers.
Conflict of interest arises whenever a personal interest of an author, editor, board member or reviewer may affect objectivity of the research or the fulfillment of journal related obligations. This may include financial (e.g. employment, stock ownership, providing consulting services), intellectual (e.g. patent ownership), political, religious or other personal interests. Authors should submit a Manuscript submission form where they disclose any possible conflict of interest. Editors, editorial board members and reviewers should submit a statement of the conflict of interest prior to engaging in these roles for a manuscript.
Funding information is considered separately from conflicts of interest. IRFC requires authors to whether funding has been received for research, as well as funding sources.
Complaints and appeals
If you are a Journal reader and recognize any thoughts, ideas or other materials that are used in a published IRFC article without giving credit to the initial author, we encourage you to notify the Editorial Board. Authors who contributed to the published research but were not given credit for it should also contact the Journal’s Board. The Board will reply to all complaints and notify the complainant of its decision and following actions. The Board shall not reveal any information on those who notify it on possible misconducts. All notifications will be considered and investigated.
In case of any complaints against the Journal, its staff or Editorial Board members, you should submit your statement to the Board explaining your position and reasoning. Staff or Board members against whom a complaint is submitted will not participate in further investigation and consideration of the case.
Data and Reproducibility
IRFC does not charge for access to our journals, and makes all articles available online.
The Journal may ask authors to provide any raw data necessary to understand and assess the research, including input data and computer codes. Any restrictions and objections to this policy should be disclosed when submitting the article, otherwise will not be considered as valid later.
Authors should comply with all standards adopted by their institution and industry in relation to research involving hazards, human or animal objects. If a manuscript contains images or personal data of individuals participating in the research, authors should have individuals’ consent and ethics committee approval. When submitting an article, an author should provide necessary statements of compliance.
If an author identifies any significant error in their paper after its publication, it is the author’s responsibility to notify the Editorial Board promptly. Authors should provide their assistance in implementing retractions or corrections of the paper. We also encourage readers to notify the Board should they identify any errors in the published materials.