• 경영과학
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• 제17권1호
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• pp.145-158
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• 2000

The medical records of diagnostic and testing information include sensitive personal information that reveals some of the most intimate aspects of an individual's life. The hospital information system (HIS) operates in a state of high risk which may lead to the possible loss to the IS resources caused by various threats. This research addresses twofold : (1) to perform asset identification ad valuation and (2) to recommend countermeasures for secure HIS network using case studies This paper applied a risk management tool CRAMM (Central Computer and Tele-communications Agency's Risk Analysis and Management Method) to assess asset values and suggest countermeasures for the security of computerized medical information of two large hospitals in Korea. CRAMM countermeasures are recommended at the reference sites from the network security requirements of system utilized for the diagnosis and treatment of patients. The results of the study will enhance the awareness of IS risk management by IS managers.

• 한국IT서비스학회지
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• 제8권3호
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• pp.67-81
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• 2009

This study aims to test the valur relevance of development cost particularly focusing on IT firms of KOSDAQ. Test period is from 2005 to 2007 and the samples are 2,271 year-firms including 1,692 firms that reported development cost in financial statements. The basic test model is a modified Ohlson(1995)'s linear model. The empirical results show that there is the negative relation between stock price and development cost reported as asset. It means that development costs reported as asset is considered as expense in the market. It implies that development activities of KOSDAQ IT firms is not related to market-leading technologies or goods. Otherwise it might reflect the conservative valuation of market on the unstability of KOSDAQ market itself.

• Journal of the Korean Society for Industrial and Applied Mathematics
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• 제14권3호
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• pp.175-187
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• 2010

This paper presents the numerical valuation of the two-asset step-down equitylinked securities (ELS) option by using the operator-splitting method (OSM). The ELS is one of the most popular financial options. The value of ELS option can be modeled by a modified Black-Scholes partial differential equation. However, regardless of whether there is a closedform solution, it is difficult and not efficient to evaluate the solution because such a solution would be represented by multiple integrations. Thus, a fast and accurate numerical algorithm is needed to value the price of the ELS option. This paper uses a finite difference method to discretize the governing equation and applies the OSM to solve the resulting discrete equations. The OSM is very robust and accurate in evaluating finite difference discretizations. We provide a detailed numerical algorithm and computational results showing the performance of the method for two underlying asset option pricing problems such as cash-or-nothing and stepdown ELS. Final option value of two-asset step-down ELS is obtained by a weighted average value using probability which is estimated by performing a MC simulation.

• The Journal of Asian Finance, Economics and Business
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• 제7권8호
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• pp.33-40
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• 2020

The main aim of the study is to test a house pricing model by combining hedonic and asset-based pricing models. An understanding of the relationship between house pricing and its return (the rental income) helps to establish houses as a significant asset class. The model tested the relationship between house pricing (dependent variable) and the house attributes (independent variables) derived from Freeman's framework of housing attributes. This study uses a large data-set of 1,899 sample of new, high-end houses purchased between 2016 and 2019 collected from the national capital region of India (Delhi-NCR). The algorithm was built in R-Script, and stepwise multiple linear regression was used to analyze the model. The analysis of the model proves that the three significant variables, namely, carpet area, pay-off, and annual maintenance charges explain the price function. Further, the model is statistically fit. The major contribution of the study is to understand the key factors and their influence on the house pricing. The model will be helpful in risk assessment in the housing investment and enhance the chances of investment. Policy-makers can use information about the underlying valuation drivers of the house prices to stabilize the market and also in framing the tax policies.

• Journal of the Korean Data and Information Science Society
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• 제24권4호
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• pp.669-677
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• 2013

본 연구에서는 다중자산 옵션 가격의 추정에 있어 자산의 수, 상관계수, 자산의 값들과 표준편차의 여러 조합에 대한 시뮬레이션을 통하여 저불일치 수열에 따르는 준난수 몬테칼로 방법들을 비교하였다. 결과적으로 준난수와 모로 역변환을 이용하는 것이 기본적인 몬테칼로 방법보다 정확하였으며 자산의 수와 관계없이 준난수 방법들 중 혼합법들이 더욱 효과적임을 알 수 있었다.

• 대한토목학회논문집
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• 제29권6D호
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• pp.727-736
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• 2009

사회기반시설물을 관리주체의 자산으로 인식하여 관리자뿐만 아니라 사용자 측면에서의 만족도에 대한 고려를 바탕으로 효율적으로 관리하고자하는 노력이 진행 중이다. 사회기반시설물의 자산관리체계 지원을 위하여 교량 자산관리 방안을 수립하였다. 교량 자산관리와 관련된 국내외 현황분석을 수행하고 교량 자산관리 절차를 제안하였다. 제안된 절차의 주요 기능을 정의하고 각 기능에 대한 정식화를 수행하였다. 교량의 서비스수준을 설정하고 정략적 평가를 위한 성능척도를 정의하였으며, LOS를 정식화하고 교량별 중요도에 따른 가중치를 고려하여 보다 실제적인 LOS의 평가가 가능하도록 하였다. 교량의 자산관리를 위한 장기 전략수립과 단기 계획수립 방법을 제안하고, 효율성지수를 도입하여 우선순위 산정을 위한 지표로 제시하였다. 또한 예산의 수립과 배정 문제를 순위최적화 문제로 정식화하여 자산관리 정책과 목표에 따라 다양한 의사결정을 지원할 수 있는 체계를 구축하였다.

• 경영정보학연구
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• 제20권2호
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• pp.1-19
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• 2018

전 세계적으로 각국의 정부는 공공에 정부의 데이터를 개방함으로써 정부의 성과 향상 및 투명성 제고를 기대하며 상당한 예산을 공공데이터 부문에 사용하고 있다. 이러한 정책의 실질적인 성과를 파악하기 위해서는 정책을 통해 창출된 가치를 측정하는 것이 필수적이며, 이에 여러 기관 및 연구자들은 공공데이터의 가치를 평가하기 위한 다양한 시도를 해왔다. 그럼에도 불구하고, 그 가치를 측정함에 있어 실질적인 혜택을 받는 소비자의 관점이 간과되어왔을 뿐만 아니라, 아직 공공데이터의 경제적 가치를 계량화하는 시도는 미비한 실정이다. 이에 본 연구에서는 실제로 데이터를 소비하고 그 영향을 받는 시민들의 관점에서 공공데이터의 경제적 가치를 정량화하고자, 먼저 기존의 무형자산 가치평가 방법론을 검토하였다. 분석 방법론과 공공데이터의 성격을 함께 고려한 결과, 다양한 소비자 및 사용 목적을 효과적으로 반영할 수 있는 조건부 가치평가법이 적절하다고 판단되었다. 본 연구자들은 조건부 가치평가법을 활용하여 서울 시민들을 대상으로 실제 서울시 공공데이터의 경제적 가치를 측정하고 정량화 하였다. 분석 결과 공공데이터에 대한 시민들의 지불의사금액은 관련된 사전 경험이나 조세저항, 인지된 혜택 및 인지된 시나리오의 현실성과 같은 요인에 따라 상이하였으나, 인구통계학적 요인에 따라서는 유의미한 차이를 보이지 않았다. 지불의사금액을 측정하는 질문의 방식에 따라 결과에 유의미한 차이가 있었으며, 결과에 대한 신뢰성 평가 및 향후 연구에 대한 시사점을 논의하였다.

• 기술혁신학회지
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• 제14권3호
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• pp.578-598
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• 2011

본 논문은 차세대 그린에너지원으로 주목받고 있는 태양광산업의 핵심소재 기술에 대한 가치를 실물 옵션 기법을 이용하여 추정한다. 본 논문의 기여는 두 가지이다. 하나는 방법론적인 기여로서, 실물옵션의 기초자산 불확실성을 대변하는 변수로서 주가를 고려하여 실물옵션 적용에서 가장 복잡한 단계인 기초자산 불확실성의 모형과정을 대폭 단순화시켰다. 다른 하나는 응용장의 기여로서, 최근 수요가 크게 증가하고 있는 태양광산업의 핵심소재인 폴리실리콘의 생산공정 기술의 경제적 가치를 평가하였다. 분석사례인 폴리실리콘 산업의 A기업에 적용한 결과, 동 기업의 폴리실리콘 기술의 기초자산이 기하브라운모션을 따르는 것으로 나타났으며 이러한 결과에 블랙-숄즈 옵션가격결정모형을 적용하여 A기업의 폴리실리콘 기술에 대한 콜옵션의 가치는 약 34,229억원으로 측정되었다.

• 유통과학연구
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• 제16권2호
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• pp.83-88
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• 2018

Purpose - For distribution corporate, the method of recognizing sales revenue may be different depending on the type of distribution transaction. Until the change in accounting standards for revenue recognition was made in 2002, the distribution corporate recognized the full amount of sales of goods regardless of the type of transaction. However, in accordance with accounting standards for revenue recognition, which began to be applied in 2003, distribution corporate differ in sales revenue recognition by transaction type. The Purpose of this study is to analyze the impact of sales revenue on the corporate value after the change of the revenue recognition accounting standards. Research design, data, and methodology - We selected a comprehensive wholesale and retail corporate listed on Korea Exchange. The research model extends the Ohlson(1995) model and regresses whether sales revenue affecting the corporate value is discriminatory value relevance between the corporate affected by changes in accounting standards for revenue recognition and those not. Results - The results of the analysis are as follows. First, The average value of stock price, net asset per share, and earnings per share are all higher than those before the change of accounting standards for revenue recognition. However, the average value of sales per share is lower than that before the change of accounting standards for revenue recognition. Second, the relationship between corporate value and net asset per share, earnings per share and sales per share, the coefficient of net asset per share, earnings per share and sales per share are all statistically significant positive value. Therefore, in explaining corporate value, besides net asset per share and earnings per share, sales per share provides additional information. And the coefficient of interaction variable between accounting standard change and sales per share is a statistically significant positive value. This result indicating that after the change of the revenue recognition accounting standards the usefulness of sales revenue has increased. Conclusions - The change in accounting standards for revenue recognition led to a decrease in distribution corporate sales revenue but the higher the relevance of the corporate value of the sales revenue information. These results shows that the change of accounting standards that reflects the transaction type of retailers was a revision to increase the value relevance of sales revenue in valuation of corporate value.

• 산업경영시스템학회지
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• 제46권1호
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• pp.91-104
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• 2023

The records system is believed to have started in Italy in the 14th century in line with trade developments in Europe. In 1491, Luca Pacioli, a mathematician, and an Italian Franciscan monk wrote the first book that described double-entry accounting processes. In many countries, including Korea, the government accounting standards used single-entry bookkeeping rather than double-entry bookkeeping that can be aggregated by account subject. The cash-based and single-entry bookkeeping used by the government in the past had limitations in providing clear information on financial status and establishing a performance-oriented financial management system. Accordingly, the National Accounting Act (promulgated in October 2007) stipulated the introduction of double-entry bookkeeping and accrual accounting systems in the government sector from January 1, 2009. Furthermore, the Korean government has also introduced International Financial Reporting Standards (IFRS), and the System of National Accounts (SNA). Since 2014, Korea owned five national accounts. In Korea, valuation began with the 1968 National Wealth Statistics Survey. The academic origins of the valuation of national wealth statistics which had been investigated by due diligence every 10 years since 1968 are based on the 'Engineering Valuation' of professor Marston in the Department of Industrial Engineering at Iowa State University in the 1930s. This field has spread to economics, etc. In economics, it became the basis of capital stock estimation for positive economics such as econometrics. The valuation by the National Wealth Statistics Survey contributed greatly to converting the book value of accounting data into vintage data. And in 2000 National Statistical Office collected actual disposal data for the 1-digit asset class and obtained the ASL(average service life) by Iowa curve. Then, with the data on fixed capital formation centered on the National B/S Team of the Bank of Korea, the national wealth statistics were prepared by the Permanent Inventory Method(PIM). The asset classification was also classified into 59 types, including 2 types of residential buildings, 4 types of non-residential buildings, 14 types of structures, 9 types of transportation equipment, 28 types of machinery, and 2 types of intangible fixed assets. Tables of useful lives of tangible fixed assets published by the Korea Appraisal Board in 1999 and 2013 were made by the Iowa curve method. In Korea, the Iowa curve method has been adopted as a method of ASL estimation. There are three types of the Iowa curve method. The retirement rate method of the three types is the best because it is based on the collection and compilation of the data of all properties in service during a period of recent years, both properties retired and that are still in service. We hope the retirement rate method instead of the individual unit method is used in the estimation of ASL. Recently Korean government's accounting system has been developed. When revenue expenditure and capital expenditure were mixed in the past single-entry bookkeeping we would like to suggest that BOK and National Statistical Office have accumulated knowledge of a rational difference between revenue expenditure and capital expenditure. In particular, it is important when it is estimated capital stock by PIM. Korea also needs an empirical study on economic depreciation like Hulten & Wykoff Catalog A of the US BEA.