• 산업공학
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• 제15권4호
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• pp.444-451
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• 2002

Recently, the interest in technology valuation is revived and increasing mainly due to the lack of suitability of the traditional valuation methods in explaining the market reaction to newly-emerging knowledge-oriented companies. Moreover, many firms are now gearing their efforts to the strategic use of technology asset such as technology licensing, transfer and commercialization. Firms are also trying to enhance their technological competitiveness by re-evaluating their technology level and thus identifying the strengths/weaknesses of their technology portfolio. To accomplish this objective, the development of an integrated evaluation system for technology assets is essential. This paper presents a technology valuation system developed for a steel manufacturing company in South Korea. The valuation framework is based on; (1) the multi-attribute evaluation of technological competitiveness using Analytic Hierarchical Process and; (2) the expected future benefit of the technology using four different methods of discounted cash flow estimation. The suggested framework will be easily applicable to various industries where technological competitiveness should be evaluated systematically.

• 지적과 국토정보
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• 제45권1호
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• pp.207-224
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• 2015

본 연구의 목적은 부동산평가에 있어 소득접근법에 속하는 무형자산의 평가기법을 고찰하는 데 있다. 소득접근법에 의한 무형자산의 가치는 장래 기대되는 경제적 편익을 현재가치로 환원한 값이다. 관계법령의 무형자산의 평가기준으로는 감정평가에 관한 규칙, 지식재산기본법, 국유재산법의 규정을 검토하였다. 경제적 편익의 추계방법으로는 외삽법, 생애주기분석법, 감응도분석법, 시뮬레이션분석법, 판단법, 타불라라사법을, 자본환원율과 할인율의 추계방법으로는 시장추출법, 자본가격결정모형, 조성법, DCF모형, 가중평균자본비용법을 고찰하였다. 대상무형자산의 자본환원방법으로는 사용료절감법, 초과이익환원법, 이윤분할법, 업체가치잔여법, 가상소득환원법 등을 살펴보았다.

• 산업경영시스템학회지
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• 제19권39호
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• pp.229-234
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• 1996

When we analyze equipment replacement problem, we take the table of the duration period of tangible fixed asset on the corporation income tax law, and treat depreciation as simple allocation process for capital recovery. In this problem, there are some papers considering the concepts of economic depreciation. Those are not perfect model from a economical point of view. Therefore, we deal with equipment replacement problem considering the engineering valuation as well as the economic concept in the evaluation of asset.

• 기술혁신학회지
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• 제5권1호
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• pp.72-89
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• 2002

This paper is based on a belief that, it is the simplest and best way measuring intangibles and knowledge assets on a monetary base, although there are many efforts to measure it. We analysis and compare with accounting, appraisal and valuation standards on Korean, USA and global level each. We conclude that valuation is appropriate for intangibles and knowledge assets, but we should check the standards of valuation on a social base in Korea.

• 한국빅데이터학회지
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• 제6권1호
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• pp.153-160
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• 2021

본 연구는 기업이나 기관에서 보유한 데이터의 가치 평가에 가장 많이 활용되는 소득(이익) 접근 모델의 선행 연구를 조사하고 모델의 핵심요인과 데이터 자산 가치 평가 과정의 고려사항에 대해 논의하였다. 이를 통해 데이터 자산의 공유가능성, 활용기간이 다른 기업의 자산들과 다른 특성이 있음을 규명하였다. 또한 데이터의 가치는 품질의 영향을 크게 받기에 데이터의 적시성, 정확성과 같은 다양한 관점을 검토해야하며, 사용자의 용도와 사용능력 및 가치 사슬을 총체적으로 검토하여 데이터 자산의 가치를 평가해야 함을 도출하였다. 향후 연구방향으로는 실제 현업에 적용되어야 할 모델에 대한 지속적인 연구개발 및 회계법 개정을 제언하였다.

• Journal of the Korean Society for Industrial and Applied Mathematics
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• 제15권2호
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• pp.151-160
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• 2011

Typically, it is hard to find a closed form solution of option pricing formula under an asset governed by a change point process. In this paper we derive a closed-form solution of the valuation function for an American perpetual put option under an asset having a change point. Structural changes are formulated through a change-point process with a Markov chain. The modified smooth-fit technique is used to obtain the closed-form valuation function. We also guarantee the optimality of the solution via the proof of a corresponding verification theorem. Numerical examples are included to illustrate the results.

• 한국벤처창업학회:학술대회논문집
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• 한국벤처창업학회 2006년도 추계학술발표회
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• pp.61-85
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• 2006

The Purpose of this study is to prove empirically the relationship between ventures' technology valuation and performance, while considering the uniqueness of Korean firms. We use technology valuation index, marketability valuation index, business valuation index as ex-ante independent variables, use firm's performance(sales, asset, operating income ratio, net income ratio etc) as ex-post dependent variables. Parametric analysis such as Paired T-test, ANOVA are applied in this paper. The results of Empirical analysis is summarized as follows. Firstly, operating income ratio and net income ratio are different in portfolios classified by technology valuation index. Secondly, the growth rate of operating income is different in portfolios classified by technology valuation index. Finally, this study has shown that technology valuation index has possibility which it use the predictive variables of ventures' performances.

• 충청수학회지
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• 제27권2호
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• pp.237-242
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• 2014

In this paper we provide a valuation method for multi-asset derivatives with single jump regime-switching volatilities. We suppse that volatilities of assets are affected by an n-dimensional independent Markov regime-switching process.

• 한국주거학회논문집
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• 제11권4호
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• pp.23-33
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• 2000

Up until the mid-90s, the housing market of Korea has been supplier-oriented with the constant shortage of housing supply. But today, with the surplus of supply over demand and ever-increasing competitiveness in the housing market, understanding consumers needs have become one of the keys to successful business. Consumers overall living standard have increased and they are now looking for better living environment. As a matter of course, there have been much studies focusing on the evaluation factors and consumers preferences of the living environment, somewhat overlooking the asset value of a residential property. Consumers see their house in terms of both a living space and an asset. Therefore, it is these two values altogether that influences the buying decision process of consumers. This study seeks to stress on the importance of the fact that it is both the living environment and asset value of a house that are considered in the buyers valuation of residential property. And the study suggests that influencing factors of housing attributes in the decision-making process of buyers be sub-categorized into two broad groups, value as a living space and value as an asset. This is to serve both the researcher in the academic field and marketers for better understanding of consumers needs and influencing factors of buyers valuation of housings vis-a-vis market.

• 무역상무연구
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• 제66권
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• pp.149-170
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• 2015

State's compensation obligation accompanied in case of indirect expropriation of foreign investor's investment asset has been established definite principle under international investment law. But the concrete and unified application criterion regarding valuation methods for measuring compensation have not been established yet. The World Bank investment guideline is adopting the Hull's Formula, which is understood as the full compensation standard with prompt adequate effective compensation and Fair Market Value method. It is a general principle that compensation should be equal to the fair market value of investment asset just before indirect expropriation date. However, there is a problem of the valuation method of fair market value of investment asset. In general, discounted cash flow, liquidation value, replacement value, book value, etc. can be the applicable standards. Arbitral tribunals determine compensation by adopting proper valuation method on a case-by-case basis according to the discretion based on the arbitration parties' experts' review on the presented opinion and by considering fact relevance of the issued dispute. This compensation includes also interest, recently it tends to award according to compound interest rather than simple interest. Beginning of the period to generate interest is the next day of the indirect expropriation occurrence date. And it should be considered that interest until the payment of compensation is also included. In addition, it should be considered that mental damages is available only when there's a basis to prove this or special case. Therefore, this study suggests to review of precedents related to indirect expropriation and concretely specify compensation valuation standard and method of indirect expropriation on investment agreements through enough consultation beforehand.