• Journal of Korea Technology Innovation Society
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• v.11 no.2
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• pp.241-263
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• 2008

Within any income approach, a discount rate is used to convert some projected free cash flow to its presented value. In case of valuing companies, the most frequently used discount rate is the weighted average cost of capital(WACC) at the aggregate level. But technology valuation is different to discounting aggregate corporate cash flow since it is concerned about individual Intellectual property. Therefore, blindly applying standard discount rate such as WACC in technology valuation is unlikely to lead to the right result. The primary focus of this paper is to establish the structure of discount rate for technology valuation and to suggest the method of estimation. To determine an appropriate discount rate for technology valuation, the level of technology risk, market risk and competitive risk should be included in the structure of discount rate. This paper suggests the build-up model which consists of three components as a expansion of the CAPM. It includes (1) a risk-free rate of return, (2) general market risk premium and beta and (3) intellectual property risk premium related to technology risk and specific target market risk. However, there is no specific check list for examining the intellectual property risk until now and no specific method for quantifying its risk into risk premium. This paper developed the 10 element to determine the level of the intellectual property risk and applied estimation function such as linear function, natural log function and exponential function to transform the level of risk into risk premium. The limitation of this paper is that the range of intellectual property risk premium is inferred based on the information of foreign and domestic valuation agency. Finally, this paper explored the development of an intellectual property discount rate for technology valuation and presented the method in order to quantify the intellectual property risk premium.

• Journal of Korea Water Resources Association
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• v.40 no.10
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• pp.783-791
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• 2007

In this study, an evaluation system for a water resources technology research and development project, which is one of the 21C frontier R&D programs sponsored by Korea Ministry of Science and Technology, is proposed. The purpose of this paper is to contribute in the implementation of an efficient R&D policy scheme and in the successful commercialization and diffusion of water resources technologies through proper evaluation of water resources technology R&D projects. The evaluation system is consisted of two levels of evaluation categories and attributes to reflect qualitative evaluation as well as quantitative evaluation of the water resources technology development. The weights of 4 evaluation categories and 26 attributes are calculated by using Analytic Hierarchy Process(AHP). To demonstrate the evaluation system, a numerical example of water resources technology evaluation is presented.

• The Journal of the Korea Contents Association
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• v.2 no.3
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• pp.70-79
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• 2002

Valuation of intangible assets has been discussed for the purpose of transaction of a technology and investment based on intangible assets as well. Practical techniques, however, have rut been developed for valuation of automated, electronic data bases as specialized knowledge information contents. This study will summarize general intangible valuation approaches and special considerations in contents valuation, and present examples of the application of approaches to illustrative contents valuation analysis.

• Proceedings of the Korean Information Science Society Conference
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• 2003.10b
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• pp.295-297
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• 2003

정보화 서비스를 제공하기 위해서는 사실 기반의 데이터, 데이터의 전달을 위한 네트워크기술, 그리고, 정보를 원하는 목적에 맞게 처리하여 원하는 사용자에게 전달하여 부가적인 가치를 부여하게 하는 응용 소프트웨어로 크게 나눌 수 있을 것이다. 이러한 응용 소프트웨어 중에는 기술적, 관리적, 문서적인 측면에서 체계적으로 관리되어 있지 않아, 그 상품성을 제대로 인정 받지 못해 진정한 가치를 평가 받고 있지 못하고 있는 실정이다. 따라서, 일반 응용 소프트웨어를 상품화하여 제대로 그 가치를 평가 받을 수 있도록 준비하는 과정을 제안하고자 한다.

• Journal of Technology Innovation
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• v.21 no.1
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• pp.229-252
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• 2013

The aim for this study is to suggest a practical model to measure the financial values of the achievements from corporate research and development(R&D) projects. Performance indicators for R&D projects were identified from the extensive literature reviews and the evaluation methods to convert them into financial values were proposed to overcome the problems of excessive predictions and subjective expert assessments in existing methods. The proposed model was applied to R&D projects of an IT company in Korea for its validity test. The model is expected to be a turning point in economic evaluation of corporate R&D projects in general due to its practical and reasonable scheme.

• 레미콘
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• no.1 s.66
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• pp.54-63
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• 2001

• Science & Technology Policy
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• v.11 no.2 s.128
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• pp.21-34
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• 2001

• Science & Technology Policy
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• v.11 no.2 s.128
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• pp.35-43
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• 2001

• Proceedings of the Korea Contents Association Conference
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• 2012.05a
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• pp.419-420
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• 2012

기술에 대한 선점이 기업 경쟁의 핵심이 되는 현 시점에서 관심 있는 기술의 경제성, 발전 가능성과 같은 기술 가치를 판단하는 것은 매우 중요하다. 따라서 본 연구에서는 현 시점에서 어떤 기술에 진입하는 것이 옳은지에 대한 의사 결정을 지원할 수 있는 모델을 제안하고자 한다. 기술의 진입 여부를 결정하는 것은 현재 시점에서의 기술의 가치를 판단하는 것과 일맥상통하므로, 가장 대표적인 기술 가치 평가 소프트웨어인 미국 NTTC의 TOP INDEX에서 사용한 평가 항목을 기준으로 하여 기술 진입 가능 지수를 개발하였고, 계산된 지수 값에 의해 기술의 진입 여부를 판단하게 된다. 추후 성능 테스트를 통하여 개선 방향을 도출하고 지속적으로 보완할 예정이다.

• Korean Journal of Construction Engineering and Management
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• v.23 no.3
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• pp.74-82
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• 2022

With the introduction of proptech, this study aims to find out the changes and necessity of introducing blockchain technology, one of the most popular technologies, in real estate electronic transactions. In addition, it is intended to develop evaluation indicators that classify newly created values within real estate electronic transactions and calculate the relative importance of each value area through technology application. To this end, the value that can be created when applying blockchain technology to real estate electronic transactions was classified according to the hierarchy, and considering that the evaluation criteria are complex and the importance can be measured differently depending on various factors, an analysis was conducted according to the AHP method for experts in practical and academic fields. As a result of the analysis, general value showed the highest importance in the first dimension, and digitalization of real estate information showed the highest importance in the second dimension.