Browse > Article

A Study on a Conceptual Model for Technology Valuation Based on Market Approach  

Lim, Sungmook (동국대학교-서울캠퍼스 경영대학 경영학부)
Kim, Sanggook (한국과학기술정보연구원 산업정보분석실)
Park, Hyun-Woo (한국과학기술정보연구원 산업정보분석실)
Publication Information
Journal of Korea Technology Innovation Society / v.18, no.1, 2015 , pp. 204-231 More about this Journal
Abstract
This study aims to present a conceptual model for technology valuation based on market approach. We first propose a transition model in which technology itself is endowed with its intrinsic value based on its technology- and market-specific features, which subsequently goes through a transition to the market perceived value. We also discuss the model's logical validity. Based upon the transition model, we develop market approach based technology valuation models by identifying factors comprising each component of the transition model for each case of fixed royalty and running royalty. We also show that the proposed model can be used to describe the relationship between cost, income and market approaches for technology valuation.
Keywords
Technology valuation; Market approach; Fixed royalty; Running royalty;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
연도 인용수 순위
1 김근환.심위.강종석.박현우.문영호 (2012), "기술거래정보 관찰과정을 통한 시장접근법 활용 적합성 분석방법", 한국기술혁신학회지, 15(2): 262-276.
2 김상국.이현.박현우 (2012), "기술이전 거래사례 정보 기반의 시장접근법 적용", 한국기술혁신학회 2012년 추계학술대회 논문집, 323-340.
3 설성수.오세경.박현우 (2012), "기술가치평가론", 파주: 법문사.
4 신상철 (2005), "중소기업의 기술가치평가기법 개발 현황과 활용", 서울: 중소기업연구원.
5 한국산업기술진흥원 (2011), "기술가치평가 실무가이드", 서울: 한국산업기술진흥원.
6 한국산업기술진흥원 (2012), "시장접근법 기반의 기술평가모형 정립", 서울: 한국산업기술진흥원.
7 Catty, J. P. (2010), Guide to Fair Value under IFRS, New Jersey: Wiley.
8 Chen, Y. and Zhu, J. (2004), "Measuring Information Technology's Indirect Impact on Firm Performance", Information Technology and Management, 5(1-2): 9-22.   DOI
9 Cook, W. D., Liang, L. and Zhu, J. (2010), "Measuring Performance of Two-stage Network Structures by DEA: A Review and Future Perspective", Omega, 38(6): 423-430.   DOI
10 Kao, C. (2014), "Network Data Envelopment Analysis: A review", European Journal of Operational Research, 239(1): 1-16.   DOI
11 Kao, C. and Hwang, S. N. (2008), "Efficiency Decomposition in Two-stage Data Envelopment Analysis: An Application to Non-life Insurance Companies in Taiwan", European Journal of Operational Research, 185(1): 418-429.   DOI
12 Kim, S-G., Lee, H. and Park, H-W. (2013), "Market Approach to Valuation Based on Technology Transfer Cases in Korea", Asian Journal of Innovation and Policy, 2(1): 97-122.   DOI
13 Liu, J. S. and Lu, W. M. (2010), "DEA and Ranking with the Network-based Approach: A case of R&D Performance", Omega, 38(6): 453-464.   DOI
14 Park, H-W., Jun, S-P. and Kim, S-G. (2012), "A Comparative Study on Methods of Income Approach to Technology Valuation," Journal of Supply Chain and Operations Management, 10(2): 76-93.
15 Park, Y. and Park, G. (2004), "A New Method for Technology Valuation in Monetary Value: Procedure and Application", Technovation, 24: 387-394.   DOI
16 Seiford, L. M. and Zhu, J. (1999), "Profitability and Marketability of the Top 55 US Commercial Banks", Management Science, 45(9): 1270-1288.   DOI
17 Smith, G. V. and Parr, R. L. (2000), Valuation of Intellectual Property and Intangible Assets, New York: Wiley.
18 Zhu, J. (2000), "Multi-factor Performance Measure Model with an Application to Fortune 500 Companies", European Journal of Operational Research, 123(1): 105-24.   DOI