• Asian Journal of Innovation and Policy
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• v.3 no.2
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• pp.172-192
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• 2014

This study aims to analyze the valuation of technology firms in the stock market to answer how before-market entities should be valuated. This study analyzes 230 market reports of 2012 for technology firms in the KOSDAQ under several hypotheses. The results are as follows: 90% used the 3 multiples methods consisting of PER multiples with 80%, PBR multiples 8.7% and EBITDA multiples 1.7%. The average of PER multiples was 15 with the range of 6.9 to 83. That of PBR multiples is 2.27. Forecasting for cash flow is not applied over 4 years, but mainly 2-3 years. The accuracy of forecasting was 18.8%, 34.4% and 8% according to the different definitions. No differences were found in the accuracy of forecasting between valuation methods, between the industries having more intangible assets and the industries having less, and between startups and general companies and between ages and listed ages.

• Journal of the Korea Furniture Society
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• v.21 no.4
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• pp.293-303
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• 2010

With changing systems of wealth creation around the 21st century, crafts(traditional and industrial crafts) are affected by the trend of changes or lead the trend, that is to say, a turning point of paradigm has come. Values of crafts give the value of users, and the tradition and modern coexists in the trend of times changing from the tradition to the modern so crafts artists’ works are diversified and used in design industries. Based on a place of expression showing various beauty of crafts, identity of design is established through ‘Craft Consilience’ of intangible cultural assets, master craftsman, crafts artists, crafts industries, and crafts departments. As master craftsman and furniture designers meet together to mix master craftsman’s idea with designers’ idea, the new Korean crafts furniture is suggested.

• Journal of the Korean housing association
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• v.5 no.1
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• pp.9-16
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• 1994

The adaptive reuse of older buildings to housing for the elderly persons is a relatively new but growing phenomenon in the Western Societies. With regard to many tangible and intangible benefits, adaptive reuse can be a way to help older persons who choose "aging-in-place" in the "long-term" community. The exploratory case study indentifies changes in the stisfaction level of residents after relocation to an adaptive reuse elderly apartment in a rural community in the U.S. Data were collected using personal interviews with 17 pre-occupancy and 16 post-occupancy respondents. Findings described characteristics of respondents and dwelling, neighborhood, and overall satisfaction level changes. This exploratory study, one of few studies about adaptive reuse for housing for the elderly, suggests implications for futher studies.

• IE interfaces
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• v.23 no.2
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• pp.156-163
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• 2010

This paper suggests a DEA/AHP hybrid model to deal with an allocation problem of research budget for the national research lab(NRL) program. The qualitative factors are appraised by AHP model and the quantitative factors are dealt with DEA model to evaluate the performance of research activities considering tangible and intangible factors. The proposed hybrid model is applied to get the importance weight of research areas for research budget allocation of NRL program.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2001.11a
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• pp.307-337
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• 2001

In this paper, we propose the valuation frame of the IT(Information Technology) ventures using ROV(Real Options Valuation) model. Generally, ROV can comprises the traditional valuation method such as DCF(Discounted Cash Flow), which can measure only the tangible value of a firm from the expected future earnings, in that ROV can additionally measure the intangible value such as the strategic value of a firm in the uncertain environment. We set up the hypothetic IT venture future investment plan and assume that there are a growth option and a switching option consequently along the investment time horizon, which are caused by each characteristics of ventures and IT technologies, especially modularity. In the case that there are several embedded real options in the firm's investment plan in a row, we should apply the compound option pricing model as a real option valuation model in order to consider the value interaction between real options. In an addition, we present the results of optimal investment timing analysis using real options approach and compare them. with those of the original assumed investment timing.

• Journal of Korea Technology Innovation Society
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• v.8 no.1
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• pp.51-76
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• 2005

This paper aims to develop the intellectual capital (IC) indicators which are the most available for the E institution, a typical type of public research institute in Korea. In this paper, we basically adopted the "Intangible Assets Monitor" proposed by Sveiby and comprising three kinds of intellectual capital, namely human capital, internal structure capital and relationship capital, as a research framework. For this work, we firstly identified 12 categories and 27 components of intellectual capital for E institution. Next, we extracted 37 main indicators and 94 sub ones from these categories and components as a whole. As a result, it may be the first time in Korea for E institution of develop its own IC indicators which are slightly, or sometimes totally, different from ones for private companies in the perspective of their organizational attributes and characteristics.

• Proceedings of the Korea Contents Association Conference
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• 2011.05a
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• pp.249-250
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• 2011

이 연구의 목적은 무용전승자들의 중요무형문화재보유자에 대한 신뢰가 전수만족 및 전수애착도에 미치는 영향을 규명하는데 있다. 이 연구는 2011년 중요무형문화재무용으로 지정된 7개 단체 보존회에 등록된 보존회원을 모집단으로 설정한 후 집락무선표집법을 이용하여 최종분석에 이용된 사례 수는 총 229명이다. SPSSWIN 18.0을 이용하여 요인분석, 신뢰도분석, 회귀분석 등을 실시하였다. 설문지의 신뢰도는 Cronbach's ${\alpha}$값이 .829이상으로 나타났다. 결론은 다음과 같다. 첫째, 보유자신뢰는 전수만족에 영향을 미친다. 즉, 보유자신뢰가 높을수록 전수만족 또한 높아진다. 둘째, 보유자신뢰는 전수애착도에 영향을 미친다. 즉, 보유자신뢰가 높을수록 전수애착도 또한 높아진다. 셋째, 전수만족은 전수애착도에 영향을 미친다. 즉, 전수만족이 높을수록 전수애착도 또한 높아진다.

• Knowledge Management Research
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• v.19 no.3
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• pp.113-134
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• 2018

This study examines the roles of intangible and tangible resources of Korean business groups on internationalization by their member firms. Specifically, we argue that not all affiliates receive same benefit from group-level resource sharing. Instead, the effect of group-level knowledge sharing on affiliates' internationalization depends on individual affiliates' relative financial positions within a business group. Using samples of business groups in Korea, chaebols, hereafter chaebols, we find that foreign market knowledge at the group level has a positive impact on the internationalization of affiliated firms while the product knowledge has no impact. Furthermore, we also find evidences that an affiliate with high level of financial capacity receives internal pressures to stay in domestic market to secure internal capital market and support other sister affiliates' international activities.

• Journal of Korea Multimedia Society
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• v.18 no.10
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• pp.1241-1250
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• 2015

In this paper, we describe visualization pursuant of developing 37 Honored Ones within the Diamond World Mandala. “The 37 Honored Ones” are a collective term for 5 Buddhas and 32 Bodhisattvas that were built on the basis of Vajrasekhara Sutra. Also, as core values of Buddhism, they represent ideas of Esoteric Buddhism systematically and symbolically. “The 37 Honored Ones” are completed by the development of 4 Buddhas from Vairocana and their interaction with 16 Great Bodhisattvas and 16 Offering Bodhisattvas that were also developed from Vairocana. So, in this paper, we analyze and visualize the development of “37 Honored Ones.” This line of research is significant because it aims to convert narrative structure of the conventional Buddhism scriptures into various types of digital contents. Also, applications of the implemented visual digital contents can be as follows; educational service for Buddhist doctrines, development of the various Buddhist cultural contents, etc.

• Knowledge Management Research
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• v.12 no.3
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• pp.59-71
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• 2011

This study intends to examine the effect of research and development (R&D) expenditure effects on firm value through patent and earing persistence. The patent is the representative intangible asset which objectively indicates a typical product of research and development activities to external parties. If a firm has acquired the patent, it receives amicable evaluation from the market compared to the firm which has not acquired patent. Empirical analysis is performed for non-banking firms (1,860 firm-years) listed on Korean Stock Exchange with December fiscal year-end over 2004-2009. Research results are as follows. First, the multiple pricing of patent acquiring firm and earing persistence increased group showed that they have higher prices than the other groups. Second, the multiple pricing of R&D expenditures of earing persistence increased group showed that they have higher prices than the other group. Third, the R&D expenditures of earing persistence increased group is receiving more friendly evaluation from the stock market than the other group.