• The Journal of the Korea Contents Association
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• v.15 no.3
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• pp.327-335
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• 2015

This study analyzed symbolically the TV advertisement of disabled model from the point of view of the advertising communication of the consumers. Depending on the characteristics of the semiotics square of Greimas, the flow of the value of consumption of people with TV advertisement of disabled model, protective value, non-protective value, existence value, non-existence value such as ${\infty}$ re-protective value in the presence value it will move the form. The results from this study showed that SK Telecom TV ad (wheelchair basketball) is existence value, the iPhone 4 (lovers) is non-protective value, Samsung Securities (campaign) is protective value and Sonata automotive TV ad (Sonata Touchable Music Sheet) shows the non-existence value.

• Journal of the Economic Geographical Society of Korea
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• v.9 no.2
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• pp.211-224
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• 2006

With the increasing concern about natural resources that is being devastated and lost its reproductivity, Non-use value of resources for future use is considered more important than the present use value in the resource valuation. This study aims to measure Total Non-use value in Namsan Park, Kwanak and Paldal Mountain with CVM(Contingent Valuation Method). CVM is the method which can evaluate Non-use value of tourism resource to find the future value of the given resource. This study is carried on the assumption that respondents give answers not to real situation but to imaginary circumstances. After analysing benefit value by estimating conservation value and separate use value, we can conclude that conservation value of tourism resource is given much weight.

• Journal of Korean Philosophical Society
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• v.141
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• pp.203-224
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• 2017

In Laozi Tao(道) is not only the universal law of all existence but the eternal law of morality. In Laozi Tao as the eternal law of morality is the absolute criteria of value-judgement. In this respect in Laozi Tao is the perfect value or the absolute criteria of value-judgement. And so someone can evaluate Laozi's perspective on the theory of value is value-absolutism. Nonetheless, Laozi allows all theories of value in Laozi. Laozi's thought on the value is indifferent to what kind of value one has. But Laozi's ideal of the theory of value is value-universalism through Tao as the absolute criteria of value-judgement. So in Laozi the perspective on value is the universalization of value-absolutism. In Laozi, the medium of value-universalism is being of Sage(聖人) and all human's inpersonation of Teh(德). If this two conditions fulfilled, all human beings can reach the state of "subtle identification(玄同)" and can be sages, and value-universalism take the form of valuelessism.

• Management & Information Systems Review
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• v.32 no.5
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• pp.135-155
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• 2013

Corporate primary goal has shifted from profit-orientation toward broader socially motivated perspectives, over the recent year. According to this phenomena, extensive research have been conducted to assess the empirical association between CSR and firm value. However, the results of previous studies are largely indeterminate which are attributed to the ignoring various indeterminate variables between CSR and firm value. Specifically, the purpose of this paper verifies the empirical association between CSR and firm value with considering capital constraint as core moderator variable by using structural equation modeling(SEM). Main results of this paper are as follows. We find that firms with better CSR performance face lower capital constraint and capital constraint is significantly related to firm value in negative direction, also. The result suggest that better CSR performance is associated with superior stakeholder engagement, in turn, CSR initiatives leads to firm value creation. Also, the capital constraint still remain positive to firm value even if capital constraint is considered moderator variables. Our findings implicated that CSR literatures should consider moderator variables, such as capital constraint, which could be affected firm value.

• The Korean Journal of Financial Management
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• v.14 no.2
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• pp.21-55
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• 1997

본 연구는 기업규모, 장부가치/시장가치 비율, 순이익/주가 비율, 현금흐름/주가 비율, 레버리지 등 기본적 변수를 사용하여 주식수익률에 유의적인 변수를 확인하고, 또한 Fama and French(1993) 등에 의해서 제시된 다요인모형(multi-factor model)이 한국주식시장에서 적용가능한 지를 살펴보았다. 이를 위하여 본 연구에서는 Fama and MacBeth(1973)의 횡단면회귀모형과 Black, Jensen, and Scholes (1972)의 시계열모형을 사용하였으며, 실증분석결과를 요약하면 다음과 같다. 먼저 횡단면분석결과에 의하면, 장부가치/시장가치 비율(BE/ME), 현금흐름/주가 비율(C/P) 등이 주식수익률의 횡단면적 차이를 설명할 수 있는 유의적인 변수로 나타났다. 그리고 통계적 의미에서는 1월효과가 존재한다고 보기 어려우나, 경제적 의미에서 1월효과가 존재하는 것으로 생각된다. 시계열분석결과에 의하면, 시장요인, 기업규모요인, 장부가치/시장가치요인(또는 현금흐름/주가요인) 등의 3요인에 의해서 국내 주식수익률의 공통적 변동을 잘 설명할 수 있다. 즉 국내 증권시장에서도 Fama and French(1993)의 3요인모형이 성립될 수 있는 것으로 판단된다.

• The Korean Journal of Financial Management
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• v.14 no.1
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• pp.301-318
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• 1997

1981년 최초의 스왑거래가 있은 후부터, 스왑시장은 눈부신 성장을 보여 왔다. 현재까지 스왑시장이 왜 존재하는가 하는 물음에 대하여 여러 가지 이론들이 제시되어 왔다. 본 논문은 이러한 기존의 이론들을 살펴보고 이들과는 다른 각도에서 스왑의 존재를 설명한다. 스왑계약에 참여한 두 기업은 일련의 현금흐름을 교환하여 세후 순이익의 변동성을 감소시킴으로써 기업의 위험 프리미엄을 감소시키고 따라서 기업의 가치를 증가시킬 수 있다. 이러한 논리는 기업의 신용도 스프레드의 차이(quality spread differentials), 대리인 비용(agency costs), 또는 정보 비대칭(information asymmetry) 등의 마찰적 요인이 존재하지 않아도 성립한다.

• Environmental and Resource Economics Review
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• v.29 no.1
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• pp.1-22
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• 2020

While contingent valuation method (CVM) has been widely used for non-market valuations, it has been argued that it may suffer from hypothetical bias. However, if CVM respondents believe that their responses could affect the real consequence, the method could satisfy consequentiality. If a CVM satisfies a sufficiently high consequentiality, hypothetical bias could disappear as shown by some previous studies. In this study, we experimentally compare the willingness to pay (WTP) for donation of a relatively high consequentiality group with that of a relatively low consequentiality group for Korean university students. We find that both the existence probability and the size of hypothetical bias are lower for the high consequentiality group. This result implies that a CVM for a real policy including environmental policies could be free from hypothetical bias because its consequentiality would be relatively high, and warrants a future field study investigating the effect of consequentiality on hypothetical bias.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2017.05a
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• pp.175-192
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• 2017

4차 산업혁명의 도래와 더불어 ICT 기계, ICT 금융, ICT 의료, ICT 나노 등과 같이 기술분야별 영역의 장벽이 허물어지고, 학제간 연구(Interdisplinary Research)가 일상화됨에 따라 무형자산의 가치평가시에도 융합기술의 가치평가 모형에 대한 니즈가 증대되고 있다. 특히, 기술의 매매, 현물출자, 기술금융(투자유치, 담보 보증), 인수 합병, 청산 소송 등 다양한 용도로 사용되고 있는 기술가치평가 모형은 융합기술의 입력변수 결정에 대한 체계적인 로직을 제공하지 못하고 있는 실정이다. 일반적으로 실제 거래사례가 존재할 경우, 국제가치평가기준(IVS)에 의하면 시장접근법이 우선적으로 적용될 수 있다고 권고된다. 그러나 융합기술의 이전거래를 비롯한 평가 활용사례를 수집하기도 어렵고 그렇다할 평가모델이 존재하지 않는 것이 사실이다. 융합기술에 대한 기술 및 시장의 사업화 환경을 고려하는 경우 소득접근법 기반의 평가기법이 유용하게 활용될 수 있는데, 기술수명, 매출액추정, 할인율, 산업기술요소 등의 핵심변수 결정에 관한 정형화된 로직이 존재하지 않으므로 본 고에서 융합기술 사례에 대해 실용적으로 활용가능한 변수추정 로직을 제시하고자 한다. 기술수명의 경우, 복수 개의 국제특허분류(IPC)별 피인용특허수에 따라 가중 적용하여 수명 추정을 위한 기준값을 정하며, 사업화소요기간 및 비용의 경우 평가대상 융합기술이 속하는 업종별 메타데이터값을 가중평균하여 현금흐름 추정기간을 최종 도출할 수 있다. 소득접근법에서의 매출추정, 할인율, 산업기술요소 변수 추정 이외에도 로열티공제법 적용을 위한 로열티율 결정에 있어서, 융합기술이 응용가능한 산업(업종)별 매출액 기반으로 가중 적용하여 각 변수값을 산출할 수 있다. 본 연구에서 개발된 융합기술 가치평가 모형은 향후 기술의 융복합화 특성을 반영하여 적정 가치를 산출하는 평가 가이드라인을 제공할 수 있을 것으로 기대된다.

• Journal of Korea Entertainment Industry Association
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• v.14 no.2
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• pp.155-164
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• 2020

This study identifies the relationship between selection value, existence value, heritage value, pride, and show on satisfaction, and suggests cultural marketing and cultural policy suggestions for Jikji cultural assets to activate Jikji as tourism cultural assets. Was intended. Therefore, the implications of this study are as follows. First, Jikji cultural property officials should develop tourism products that can mix Jikji cultural properties with the image and attractiveness of Jikji cultural properties. In addition, it is necessary to pay attention to education and public relations by city and county in providing local information, prices, and services for tourists to increase the satisfaction of tourists. Second, Jikji cultural property officials should suggest ways to create differentiating elements from tourism of other cultural properties. By emphasizing the existence, the existence value of Jikji cultural property should be increased. Third, Jikji cultural property officials should emphasize that Jikji tourism is more valuable as cultural heritage than now, and develop unique killer contents that can be boasted to others in tourism and present it to tourists. Fourth, Jikji cultural property officials should prepare a plan for local residents to recognize how excellent cultural heritage is. It should also be recognized that Jikji cultural property has high added value as a tourist factor. Lastly, Jikji cultural property officials should promote various jikji projects to local residents and tourists to increase their pride and awareness that Jikji cultural property exists in a certain area.

• KOREAN POULTRY JOURNAL
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• v.37 no.4 s.426
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• pp.86-89
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• 2005