• 한국환경복원기술학회지
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• 제19권3호
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• pp.45-57
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• 2016

This study was focused on the northernmost limit of the distribution changing of Daphniphyllum macropodum and studied characteristic of plant communities of natural monument No. 91 in Najangsan national park, Korea. The results of this study were as follows : 1. The highest importance percentage(I.P.) value at tree layer in Quercus. mongolica community was Q. mongolica, 37.8%. But the highest value of mean importance percentage(M.I.P.) was D. macropodum, 32.8%. 2. The highest I.P. value at tree layer in Carpinus laxiflora community was C. laxiflora, 47.4%. The highest M.I.P. value was C. laxiflora, 28.8% and M.I.P. value of D. macropodum was 24.0%. 3. The highest I.P. value at tree layer in D. macropodum community was D. macropodum, 55.6%. C. laxiflora and Q. mogolica I.P. value was 14.8% and 6.8%, respectively. The highest M.I.P. value was D. macropodum, 47.9%. Sapium japonicum and C. laxiflora M.I.P. value was 11.4% and 10.7%, respectively. 4. The highest I.P. value at tree layer in Quercus variabilis community was C. laxiflora, 20.8%. Q. variabilis and Acer pseudosieboldianum I.P. value was 15.3% and 12.5%, respectively. The highest M.I.P. value was D. macropodum, 21.5%. It needs to the continuous monitoring of vegetation and importance percentage change in tree layer and subtree layer of D. macropodum. The researching results of D. macropodum distribution, the distribution range of D. macropodum showed expanded more than range of Lim and Oh' result(1999). In other words, it was distributed low density level between Najangsa temple and Byeokryeonam, and distributed in upper Keumsun waterfall and Wonjeok upper valley. D. macropodum was appeared on hiking trails around from Wonjeokam to Bulchulbong. Especially, it was found in this study that D. macropodum was distributed on Seoraebong's north which placed outside area of Naejangsa region. In this study, it was considered that distribution range of D. macropodum was expanded. Also, it is expected to be used as a result of the field study of changing distribution study of broad leaved evergreen forest due to global warming.

• 한국안광학회지
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• 제14권2호
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• pp.1-8
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• 2009

목적: 본 연구는 서로 다른 기준에 따른 P.D로 제작된 근용 안경을 각각 착용시킨 후에 상대적인 피로 정도를 비교하는 것이 목적이다. 방법: 근용 안경의 굴절력[원용 안경의 굴절력(-)]이 (-)인 사람에게는 원용 P.D와 근용 P.D-B로 제작된 안경을 장용시켜 안정피로 정도를 비교하였고, 근용 안경 굴절력이 (+)[원용 안경 굴절력(+)]인 사람에게는 근용 P.D-B, 원용 P.D, 근용 P.D-A로 조제된 안경을 장용시켜 안정피로 정도를 비교하였다. 근용 P.D-A란 원용 안경의 근거리 시점에서 발생한 기저외방의 프리즘 값과 근용 안경의 시점에서 발생한 프리즘 값이 같도록 감소된 단초점 근용 안경의 중심점간 거리를 의미한다. 결과: 근용 안경의 굴절력[원용 안경 굴절력(-)]이 (-)인 경우에는 원용 P.D로 조제 가공한 경우에 안정피로가 상대적으로 적었다. 근용 안경의 굴절력이 (+)인 경우에는 단정적으로 어떤 설계점 결정방식이 옳다고 확신 할 수는 없지만 데이터 결과에 의할 경우는 근용 P.D-A로 조제 가공한 경우에 상대적으로 더 적은 안정피로를 유발 하였다. 결론: 근용 안경의 굴절력[원용 안경 굴절력(-)]이 (-)인 경우에는 이전의 원용 안경을 착용하고 근거리를 주시한 경우에 근용 주시점에서의 기저내방(Base In)의 효과를 통해 폭주요구량은 감소된다. 따라서 근용 안경(-)은 근거리에서 폭주를 도와준다. 왜냐하면 기저내방의 효과가 원용 안경에 비해 상대적으로 작아졌기 때문이다. 근용 안경의 굴절력[원용 안경 굴절력(+)]이 (+)인 경우에는 상황에 따라 근용 P.D-B, 근용 P.D-A, 원용 P.D를 통해 설계점을 결정 할 수 있다.

• 기술혁신연구
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• 제16권1호
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• pp.191-213
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• 2008

This study investigates the effect of technology import and R&D investment on the value of the firm in Korea. The result shows that the technology import announcement effect of firms with a low R&D investment is higher than that of firms with a high R&D investment. The evidence suggests that technology import can substitute the existing R&D capability of the firm. In addition, the result shows that there is an optimal level of technology import and R&D investment to maximize the value of the firm. In particular, firms with a low R&D investment and a large amount of technology import experience the highest announcement effect. The study concludes that an adequate allocation of fim's capital between R&D investment and technology import is needed for firm's optimal technology strategy.

• 한국IT서비스학회지
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• 제15권3호
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• pp.1-14
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• 2016

According to the growing importance of science and technology policy, investment in research and development (R&D) has been increased. In this context, a patent as one of outcome of firm's systematic R&D investment is the way to hold a dominant position in companies' technology competitiveness and also to protect technology right. This study attempts to find the effects of input resources and intellectual property production activity on company value. It conducted empirical analysis based on 238 KOSDAQ-listed and medium-sized firms. Using the previous research, this study configurated research variables about activity of patent production, company value, and input of resources. Through these variables, it aims to know the effect of input of resources and activity of patent production on company value. First, the result of regression analysis shows that R&D cost has the positive effect on a patent production and sales promotion cost positively affects on the registration of the trademark. Second, the output of regression analysis indicates that a patent has the positive effect on company value but a trademark has not. With regard to the input of resources, R&D cost has the influence on company value but sales promotion cost has not. This study attempts to find the effectiveness of company's intellectual property registration on its value and suggests a way that the systematic R&D investment contributes the growth of company value.

• 기술혁신학회지
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• 제8권1호
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• pp.29-50
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• 2005

Real options provide a new and productive way to view corporate r&d investment decisions. DCF approach is well established and beloved of financial executives, but is known to systematically underestimate investment value under significant uncertainty. Though real options are not inherent in a r&d investment, they can be used to compute the investment value including managerial flexibility like option value. In this paper, we explain how the interval of option value in black-scholes model can be estimated using simulation. We also present a process framework for interval estimation of volatility and efficient of period of investment value. In such a setting, we can obtain the appropriate interval estimation of the expanded investment value.

• 한국산학기술학회논문지
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• 제17권7호
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• pp.63-76
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• 2016

R&D 연구 투자의 문제점의 하나는 불확실성이 크다는 점이다. 이러한 불확실성이 기업에는 많은 부담을 주는 요인이 될 수 있다. 이러한 면에서 R&D 투자가 기업 가치에 양(+)의 영향을 미치기까지의 시간을 측정할 수 있는 연구의 필요성이 있다고 보여진다. 본 연구는 GMM-PVAR(Panel Vector Autoregression) IRF(Impulse Response function)를 사용하여 1900년부터 2015년까지 한국거래소의 코스피와 코스닥시장에 상장된 기업을 대상으로 R&D 투자가 기업가치에 양(+)의 영향을 미치기까지 걸리는 시간을 측정 하였다. 또한 기업의 재무적 특성 변수 중 기업의 크기, 성장 가능성, 그리고 산업 집중율이 R&D 투자가 기업가치에 양(+) 영향을 미치기까지 걸리는 시간을 단축시킨다는 점을 발견하였다. 그것은 이들 재무적 특성변수 들이 R&D 투자와 기업가치간의 관계에 긍정적인 영향을 미칠수록 즉 경쟁이 심화될수록 크기가 클수록 시간이 단축되며 작은 기업의 경우는 성장 가능성이 높을수록 시간이 단축되는 경향을 보였다. 흥미 있는 점은 큰 기업들의 경우에는 성장가능성이 낮은 기업들이 성장가능성이 높은 기업들보다 더 큰 양의 결과를 보였다.

• 한국산학기술학회논문지
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• 제20권11호
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• pp.487-493
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• 2019

본 연구는 제약기업대상 연구개발비 무형자산비중을 살펴보고, 무형자산화 비중이 기업 가치에 영향을 미치는지 코스닥제약기업 중심으로 살펴보았다. 연구대상은 2011년부터 2017년까지 코스닥에 상장된 연도별, 기업별 연구개발비 회계자료가 있는 제약기업 39개를 표본으로 종속변수로 토빈Q, 독립변수로 연구개발비 무형자산화 비중으로 설계하여 패널데이터모형으로 분석하였다. 결론은 코스닥제약기업은 연구개발비 무형자산화 비중이 토빈Q(기업가치)에 부정적인 영향을 미치는 것으로 나타났다. 연구개발비 무형자산비중이 클수록 코스닥 제약기업에서는 기업가치가 낮아질 수 있다는 시사점을 제공한다. 즉, 코스닥 제약기업에서는 부채비율이 높을수록 투자규모를 늘리는 현상을 반영하기에 무형자산 비중이 커진다고 해서 기업가치가 증가하지 않는다는 것으로 설명할 수 있다. 본 연구는 기존 연구들은 연구개발비 총액을 기업 가치와 관련성을 규명한 연구들이 대부분인 반면, 연구개발비를 좀 더 세분화해서 '무형자산화 비중'만을 놓고, 코스닥 제약기업의 기업 가치에 영향을 미치는지 여부를 연구했다는 데 그 의의가 있다.

• 기술혁신연구
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• 제4권1호
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• pp.165-183
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• 1996

In acquiring and transferring a superior knowledge assesing the intermediate result value of a competitive R&D project is very important for a firm engaging in R&D. Most existing literatures on R&D evaluation are concerned with project selection and resource allocation. In this paper the stage of an R&D project is classified into research, exploratory development, and development. And a model is suggested which evaluates the intermediate result value before completion of development stage under duopoly and oligopolistic competition. Assessed value of the intermediate result transferred to the next tier company can be used as a minimum acceptable price to the inventor when more advanced knowledge acquired through R&D is transferred to the next tier one. The model suggested is composed of structural variables including research cost, success rates, potential profits, discount rate degree of competition. By using exponential distribution for invertion process time in each stage, we derive a formula that can assess the value of the intermediate result, and we demonstrate how the model can be applied to a competitive R&D situation through an example.

• 산업경영시스템학회지
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• 제42권2호
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• pp.62-68
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• 2019

The growth and employment effects of R&D investment were analyzed according to business size, export value and manufacturing sectors so as to suggest improvement directions for effective industry policies. The effect of R&D investment was considered simultaneously from the two perspectives of growth and employment effect, and the causality analysis was carried out by using a path analysis. The result of the path analysis confirmed significant differences in the growth effect of R&D investment depending on business size. However, the effect of increasing employment was difficult to obtain statistically significant results for any various combinations of business size and export value. This is a mixture of directions for the effects of R&D investment on employment, which could be due to the failure to consider appropriate time lags between investment and effect. Efficiency analysis by industry sectors confirmed significant differences in efficiency depending on business size, but differences depending on export value were difficult to identify. In order to derive improvement policy by industry sector according to business size and export value, the direction of selective support policy and universal support policy was derived for six industry groups by combining the return to scale in the efficiency analysis and R&D concentration. Hirschman-Herfindahl index is used for calculating R&D concentration.

• International Journal of Internet, Broadcasting and Communication
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• 제15권3호
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• pp.185-190
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• 2023

Due to the growing importance of ESG management, various studies have been conducted to explore the relationship between ESG performance and corporate value. The purpose of this study is to investigate how a company's ESG performance impacts its corporate value. The research findings indicate that there is difficulty in explaining the relationship between ESG performance of Korean IT companies and firm value in a straightforward manner. However, the results demonstrate that companies with higher profitability, higher foreign ownership, and higher R&D expenditure tend to have a positive impact of ESG ratings on corporate value. Based on these results, we can infer that Korean IT companies can enhance their corporate value by increasing R&D investments to develop innovative products that improve profitability. Additionally, attracting higher foreign investments can also positively influence ESG performance and subsequently increase corporate value. Acknowledging these factors can help companies realize the significance of ESG performance in elevating their overall corporate value.