• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.735-740
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• 2021

The purpose of this study is to assess how accounting conservatism is practiced in the Jordanian pharmaceuticals and medical industry. It assesses the association between accounting conservatism and intellectual capital (IC) in this industry. This study measures IC performance using the market price per share less book value. Accounting conservatism is measured using the book-to-price ratio, and the data was collected from company annual reports and the Amman Stock Exchange (ASE) website. The data was collected for the period of six years (2014 to 2019). The sample was made up of four companies in the industry listed in the ASE. The data was analyzed using the SPSS program though the ordinary least squares regression model to assess how accounting conservatism is associated with IC. The findings indicate a negative association with companies having higher IC performance and reporting lower accounting conservatism. IC is applied more in these companies, although it might be lower than in other companies in other sectors. This study provides empirical evidence on how IC is applied in the industry and how it might be negatively associated with accounting conservatism. Findings indicate the need for more effective policies to promote recognition of intangible assets in the sector.

• Korea Journal of Hospital Management
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• v.11 no.3
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• pp.1-18
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• 2006

The purpose of this study is to analyze the relationship between intangible asset items and company value by empirical research in the medical industry, which may enhance usefulness of the results of other empirical research on intangible asset and company value. In order to attain the purpose of this study, the stock price is taken as the independent variable and all of intangible asset items reported to a balance sheet except the development expenditures and other development expenditures, and advertisement expenses, ordinary research & development expenditures reported on the income statement are taken as the dependent variables. In the following, I carried out four meaningful results from the analysis. First, research hypothesis 1; Book value of intangible asset reported in balance sheet bears positive relationship with company value shows that development expenditures 1 variable gives positive association in a significant level while a group of \10,000-above-company shows no relationship with company value, the other group of below-\10,000-company supports a consistently significant association. All this considering, we have to keep in mind that lack of prudence may leads to wrong results when we try to analyze. Second, research hypothesis 2; Intangible asset and other intangible asset expenditures reported on the income statement gives positive effect on company value shows that R&D accounts variables give insignificance in a statistical level to all company, including entire group, \10,000-above and below consistently. These results testify that current accounting system is valid. Third, in the case of other intangible asset, it requires further examination of current KAS because statistical results show negatively significant value or insignificant value in a statistical level. That means the more intangible assets, the less company value or nothing. Last, in the case of advertisement expenditure variables of above-\10,000 and entire company shows insignificances in a statistical level consistently while below-\10,000-company shows significant result coherently. We should regard accounting information on the advertisement expenditures of \10,000-below-company with caution. The results of this study provide controversial points whether intangible asset items reported on B/S, excluding development expenditures, should be regarded as asset. To facilitate the utility of accounting information on intangible asset, it seems necessary to regard advertisement expenditures reported on I/S as asset accounts. There are further arguments on the way of dealing with intangible asset under KAS that might be considered.

• Korean Institute of Interior Design Journal
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• no.38
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• pp.266-273
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• 2003

The culture is a product of the century, and so a worldwide-recognized cultural legacy is like an incorporeal property owned by a country. It is a new legacy created In new environment conditions among countries. The meaning of this study is to give wider publicity to our intangible cultural properties through active database research. There are a significant number of museums that manage tangible cultural properties at a national level, but we can find that most stay very superficial in the aspects of database protection, classification system, and demonstration method. This is a critical physical factor that makes it difficult to create an information-oriented management system, or to manage intangible cultural properties as incorporeal entities. The preservation of tangible cultural properties may be a more proper approach of handing down valuable national characteristics to posterity In that they can show those characteristics more readily. Unlike tangible cultural properties, the preservation of intangible cultural properties requires a different approach and process. They are treated as a category of human cultural assets because of their incorporeity and formlessness. Since those intangible cultural properties to be preserved and quantified at a national level, it is an important consideration in the study on cultural properties. The objectives of this study are to present the intangible products by making the best use of the information society's merits; rediscover human elements constituting those products; ultimately help promote our cultural succession and development by databasing such human elements.

• Knowledge Management Research
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• v.11 no.3
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• pp.1-11
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• 2010

The importance of intangible assets have increased unprecedentedly with the advent of the knowledge-based society. Investment in R&D has contributed to the rise of productivity and firm-value in the capital markets. but it is very difficult to determine the economic benefits of R&D investment, due to elusive link between time requirements and the realization of firm value from R&D investment. This study examines the differential effects of R&D expenditure and patents on firm-value by industry. Patents are intangible, proprietary rights that develops new products, plays a crucial role in market competition and results in research and development activities. If firms get patents, their R&D expenditure is assumed to be successful. The study analyzes whether successful R&D expenditure has a significant effect on the firm-value. The study considers two industries : high-tech industries and low-tech industries. These industries are expected to have different effect on R&D expenditure and firm-vale. The results of the study indicate that the successful R&D expenditure increased the firm-value. Successful R&D expenditure in high-tech industries more increased the firm-value more than that in low-tech industries.

• The Journal of the Korea Contents Association
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• v.12 no.10
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• pp.430-438
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• 2012

This study researches the correlation between the firm value, which can be represented as Tobin's Q in this paper, and other financial information. The research is based on the financial statistics of KOSDAQ-listed Venture manufactures, which is comprised of the venture businesses group and the general group. The multiple regression, the correlation test tool, shows the R&D expenditures and tangible assets have the positive relation with the firm value while training expenses and the return on assets have the negative one. More specifically, R&D expenditures and total assets have the affirmative relations with the firm value among the venture businesses, whereas tangible assets, advertising expenses, and training expenses have the negative ones. The positive correlation between total assets and the firm value of venture business, shows that the volume of intangible assets impacts on the firm value of venture businesses. It also reflects the features of venture businesses highly relying on the technology development. The results are summarized as follows: First, The R&D expenditures and firm value have been positively correlated in the KOSDAQ-listed companies. Second, total assets and firm value has the positive correlation in the venture businesses.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.29 no.4
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• pp.113-119
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• 2006

The importance of intellectual property is increasing in the knowledge and information era. An organization that embraces technology and strategy is faced with promising opportunities and managerial difficulties. Forecasting the performance of technology and the underlying costs to achieve such performance is even more difficult than before. Those organizations that employ technology as part of their strategic arsenal know that they are running serious risks, which clearly increases the uncertainty of organizational performance. Therefore forecasting the performance of technology is a difficult task since technology has been characterized by intangible and tacit factors and traded in a supplier's market. The decision makers usually face a complex system of interrelated components, such as resources, desired outcomes or objectives. This study intends to evaluate the contribution of technology in intangible assets by the Analytic Hierarchy Process.

• International Journal of Quality Innovation
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• v.8 no.1
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• pp.40-75
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• 2007

In the early industrial age which with high intensity of machine and labor, using financial measurement index was good enough to tie in company's mechanization and philosophy of management and been in efficiency. But being comply with "New Economic age," a new economic environment is full of knowledge and information, the enterprise competition had changed from tangible assets, plants to intangible innovation ability of knowledge. As recognizing the new tendency by enterprise, they value gradually the growth and influence from learning. Practice of organization learning not only needs firm structure and be in coordination with both hardware and software, but also needs an affect measurement model to offer enterprise to estimate learning performance. It's a good instrument of financial performance measure mold in the past years, But it's for measuring the past, couldn't formulate enterprise trend to future, hard to estimate investment for future, such as development of products, organization learning, knowledge management etc, as which intangible assets and knowledge ability just the key factors of being win around competition environment in the future. In 1992, Kaplan and Norton brought up Balance Scorecard (BSC) on Harvard Business Review, as an instrument helping enterprise to measure performance, which is being considered to be a most influence management instrument. It added non-financial index such as customer, internal process and learning growth besides traditional financial index, as offering enterprise an index to measure and manage intangible assets and intellectual property. As being aware of organization learning is hard to be ignored in the new economic age, this research is based on learning and growth of BSC, and citing one national material company try to let the most difficult measurement performance of organization learning, to be estimate through BSC, analyze of factor and individual case, to discuss the company how to make the related strategy and vision of organization learning to develop learning and growth of the structure of BSC, subject the matter of out put factors to be discussed, and measure the outcomes as a result of research. The research affect offers (1) the base implement procedure of carrying out BSC; (2) the reference of formulating measurement index while enterprise using BSC to estimate performance of organization learning; (3) the possibility bottleneck maybe forcing while carrying out BSC, to be an improvement or preventive for enterprise.

• Journal of Technology Innovation
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• v.11 no.1
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• pp.1-27
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• 2003

In the knowledge-based economy, technology valuation of patents, brand name, know-how is presented for as key subject of intangible assets management science. This paper reviews the methods of technology valuation that have been developed by valuation specialists. Also, is talking about the practical application by income approach (DCF) method. The function and role of technology valuation analysts such as the related organizations and the reference of foreign organization is appeared through the examples.

• Journal of Information Processing Systems
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• v.1 no.1 s.1
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• pp.79-85
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• 2005

In this paper, we dealt with substantial asset analysis methodology applied to two-dimensional asset classification and qualitative evaluation method according to the business process. Most of the existent risk analysis methodology and tools presented classification by asset type and physical evaluation by a quantitative method. We focused our research on qualitative evaluation with 2-dimensional asset classification. It converts from quantitative asset value with purchase cost, recovery and exchange cost, etc. to qualitative evaluation considering specific factors related to the business process. In the first phase, we classified the IT assets into tangible and intangible assets, including human and information data asset, and evaluated their value. Then, we converted the quantitative asset value to the qualitative asset value using a conversion standard table. In the second phase, we reclassified the assets using 2-dimensional classification factors reflecting the business process, and applied weight to the first evaluation results. This method is to consider the organization characteristics, IT asset structure scheme and business process. Therefore, we can evaluate the concrete and substantial asset value corresponding to the organization business process, even if they are the same asset type.

• The Journal of the Korea Contents Association
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• v.8 no.8
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• pp.235-243
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• 2008

This research show how Shin Han-Seong make up Taekkyeon to register to intangible cultural assets, and found next conclusion and meaning. First, skill organization of Song Duk-Ki Taekkeon that is only one modem Taekkeon's initiator have been transmitted for a piece of skills of playing figure which don't have regular system. But Taekkyeon which have regular system have been developed by Shin Han-Seong, finally Taekkyeon is approved to intangible cultural assets. Second, Shin Han-Seong modernized Taekkyeon by borrowing training system of Judo, Fencing, Hapgido, Taekwondo, Karate. But people criticize that Song Duk-Ki Taekkeon is not initiate with original thing. Third, Shin Han-Seong made the grade classification and practical technique screening, Bon-Dae Buigi Twelve part like Pomse of Taekwondo (there is no for traditional Taekkyeon). And he contributed to popularization and modernized learning system by pursuiting sportization. Through this research geared up Taekkyeon's original shape and generational outline about skill transition or composition. And it gave important data for understand about Taekkyeon controversy which scattered.