• Journal of Intelligence and Information Systems
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• v.23 no.1
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• pp.23-46
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• 2017

Although there have been cases of evaluating the value of specific companies or projects which have centralized on developed countries in North America and Europe from the early 2000s, the system and methodology for estimating the economic value of individual technologies or patents has been activated on and on. Of course, there exist several online systems that qualitatively evaluate the technology's grade or the patent rating of the technology to be evaluated, as in 'KTRS' of the KIBO and 'SMART 3.1' of the Korea Invention Promotion Association. However, a web-based technology valuation system, referred to as 'STAR-Value system' that calculates the quantitative values of the subject technology for various purposes such as business feasibility analysis, investment attraction, tax/litigation, etc., has been officially opened and recently spreading. In this study, we introduce the type of methodology and evaluation model, reference information supporting these theories, and how database associated are utilized, focusing various modules and frameworks embedded in STAR-Value system. In particular, there are six valuation methods, including the discounted cash flow method (DCF), which is a representative one based on the income approach that anticipates future economic income to be valued at present, and the relief-from-royalty method, which calculates the present value of royalties' where we consider the contribution of the subject technology towards the business value created as the royalty rate. We look at how models and related support information (technology life, corporate (business) financial information, discount rate, industrial technology factors, etc.) can be used and linked in a intelligent manner. Based on the classification of information such as International Patent Classification (IPC) or Korea Standard Industry Classification (KSIC) for technology to be evaluated, the STAR-Value system automatically returns meta data such as technology cycle time (TCT), sales growth rate and profitability data of similar company or industry sector, weighted average cost of capital (WACC), indices of industrial technology factors, etc., and apply adjustment factors to them, so that the result of technology value calculation has high reliability and objectivity. Furthermore, if the information on the potential market size of the target technology and the market share of the commercialization subject refers to data-driven information, or if the estimated value range of similar technologies by industry sector is provided from the evaluation cases which are already completed and accumulated in database, the STAR-Value is anticipated that it will enable to present highly accurate value range in real time by intelligently linking various support modules. Including the explanation of the various valuation models and relevant primary variables as presented in this paper, the STAR-Value system intends to utilize more systematically and in a data-driven way by supporting the optimal model selection guideline module, intelligent technology value range reasoning module, and similar company selection based market share prediction module, etc. In addition, the research on the development and intelligence of the web-based STAR-Value system is significant in that it widely spread the web-based system that can be used in the validation and application to practices of the theoretical feasibility of the technology valuation field, and it is expected that it could be utilized in various fields of technology commercialization.

• Information Systems Review
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• v.5 no.1
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• pp.129-146
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• 2003

Increasing number of transactions and investments in technology has sparked a growing interest in technology valuation. However, it has not been easy to come up with an objective valuation of technology due to variance in technology value and specialty of technology valuation. The main objective of this paper lies in the development of a new system for technology valuation, Web-based Interactive Technology Valuation (WITV) system, which valuate the technology and analyze the technology value strategy. WITV system uses the Technology Valuation Attractiveness Model (TVAM). TVA is composed of the Intrinsic Value of Technology (IVT) and the Extrinsic Value of Technology (EVT). This paper experiment the feasibility of the TVA Model and WITV System by conducting an empirical study on small & medium sized manufacturing companies in IT industry, registered on KOSDAQ. In this study, the potential value is defined as the technology value. It is represents the expected profit appraised by the market under the competitiveness of technology and the growth of the market. TVA is measured as the index to forecast the Price-to-Book value Ratio (PBR), which is the proxy variable for the potential value of the technology. The results identify the feasibility of the TVAM through a high correlation between the TVA and the PBR.

• 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 the Korean Society for information Management
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• v.22 no.3 s.57
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• pp.147-162
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• 2005

This study aims to suggest a new approach to economic valuation of the special library, in response to the necessity of economic justification of the special library operated by firms and research institutes. Benefit measurement elements and analysis methods to be used in the study were derived through feasibility evaluation on models in previous studies, and objectivity and applicability were the criteria for feasibility evaluation. Depending on which type of resources are used in providing service, different benefit measurement elements and methods were applied. Based on this, calculation formula for service valuation of special library was presented. The development of analysis model for economic valuation of special library made it possible to objectively prove the value of the special library, and is considered to provide an opportunity to publicize the real value of the special library.

• Journal of Intelligence and Information Systems
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• v.15 no.4
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• pp.79-98
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• 2009

Web traffic is becoming an important indicator to make inferences about internet companies' future prospects so that traditional firm valuation methods need to be modified to integrate the ideas of web traffic information as a major asset of internet companies. It is because web traffic is a measure of attracting visitors to firm's web site and is the basis for internet companies' marketing expenditure and customer acquisition and retention. Also the web traffic represents the internet companies' technological advances and marketability. The major purpose of this study is to show the relevance of web traffic for valuation of internet companies. For this, we test hypothesis with the firm's web traffic and financial data using the analysis model of Hand(2000a) derived from the log-linear model introduced by Ye and Finn(1999). Test results show that the web traffic, more specifically the number of unique visitors, visits, and page views are all positively related to the firm's value. This implies that the web traffic information should be considered as one of the important non-financial indicator for the internet firm valuation.

• Journal of Technology Innovation
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• v.22 no.2
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• pp.221-245
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• 2014

In the era of fierce global competition and short product life cycle, firms have been interested in the technology valuation to improve their competitiveness. As the technology valuation may become a key issue for countries and industries, the development of technology valuation method has become increasingly important. Thus, this study aims to suggest a novel method to assess technology value by applying conjoint analysis to bibilographic information of patent. For this purpose, we firstly identified nine patent indexes categorized in three attributes - technological superiority, marketability and legal rights. Then, we collected actual data on patent transactions including their patent attributes and market prices. Based on the data, we could obtain the patent index values. Finally, we applied conjoint analysis to the prices and patent index values as a basis for technology valuation. The suggested method is expected to be an effective tool for technology valuation by using real transaction data rather than relying heavily on experts assessment.

• Journal of the Korea Society of Computer and Information
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• v.5 no.2
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• pp.130-142
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• 2000

A model of value estimation for Technology Evaluation refers to technology and trade criterion is Presented on this study. Technology evaluation will be recognized to immediately solve the problem in government, Policy executive organs, enterprises. There is a necessity for fixing of technology evaluation institution to objectify technology evaluation method and means, to train and accumulate specialist of technology evaluation, to specialize technology evaluation organ, to secure public-trust, to spread application of technology evaluation results. And there will be become established consideration is indispensable to organize and operate Technology Exchange.

• Journal of the Korean Society for information Management
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• v.24 no.1 s.63
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• pp.187-208
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• 2007

This study aims to present a new approach to measure the economic value of the public libraries, identifying and suggesting the modified contingent valuation method (CVM) application. The modified CVM, which applied Dissonance Minimizing (DM) format, is presented as a new approach. A cost-benefit analysis is used as a tool to determine if the benefits of public libraries outweigh the cost incurred in providing the services. The benefits of public libraries are based on estimates of how much the user is willing to pay for the library services and costs are based on the prices of providing the services. A comparison between two methods are conducted in a case study in order to measure the economic value of 'J Public Library'. The study also conducts a case study to analyse the WTP value of the 'J Public Library' and demonstrates how public libraries approach the their local studies.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.9 no.2
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• pp.12-22
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• 2010

The variable message sign(VMS) is a facility to smoothen traffic flows and enable safe passing by providing real-time necessary information on roads, weather, transportation, and traffic regulations. The VMS also solves a feeling of uneasiness and gives a sense of psychological security by providing information to drivers. However, the VMS has a strong character of being a non-market product but a public product, so it has not normally been evaluated for its value. This research has evaluated a value of satisfaction level for traffic information users, using a contingent valuation method(CVM). As a result of evaluating the value of satisfaction level for users through division into an urban roadway and an urban highway for the cities where an intelligent transportation system(ITS) has been established, the urban highway had a value of 96.7 won/system and the urban roadway had a value of 76.3 won/system.

• Proceedings of the Korea Society for Industrial Systems Conference
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• 2006.05a
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• pp.63-73
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• 2006

대부분의 CEO들은 대규모 투자가 선행되는 정보시스템의 화폐적 가치에 확신을 가지고 싶어 한다. 지금까지 MIS 연구자들은 정보시스템의 조직적 성과에 관한 여러 가지 간접적인 증거를 보여주었으나 경영자들이 요구하는 정보시스템에 대한 화폐적 확신을 주는데 실패하였다. 본 연구는 최근 각 기업들이 도입하고 있는 BSC의 성과지표 중 정보시스템 관련 지표를 활용하여 기업의 계량적 및 비계량적 성과측정을 활용함으로써 조직의 정보시스템 성과를 화폐가치로 환산할 수 있는 방법을 제시하고자 한다. 이때 사례기반추론 시스템을 활용하면 사례베이스로부터 유사사례를 도출하고 이를 통하여 정보시스템 도입에 필요한 주요 정보를 추론할 수 있게 되어 조직에서 도입할 정보시스템의 잠재적 화폐가치를 어느 정도 가늠할 수 있다. 본 연구는 정보시스템의 화폐적 가치분석을 위하여 실물옵션 가격결정모형을 활용하였고 객관적 화폐가치 추론을 위한 웹 사이트 구축을 목표로 한다.