• 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 the military operations research society of Korea
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• v.31 no.1
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• pp.14-25
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• 2005

Defense offset is considered to be all effective way of acquiring defense critical technologies and arms components as a counter-trade obligation ill defense acquisition contracts. Although arranging the offset contracts is wide]y perceived as necessary, there hardly exists an acceptable model of valuation of the offset technology. By undertaking the technology valuation approach and applying the option approach tn the offset program, we present an offset technology valuation model that maximizes social net benefit of the countries transferring the technology. This article applies our model to an actual case of defense technology transfer in the Republic of Korea. The contribution of this paper is in applying the option approach to the valuation of defense onset technology, providing for the additional flexibility to tile analysis. Our research suggests several policy implications that can be applied to the actual process of defense offsets. Our results elucidate managers' role and responsibilities in designing such a process by applying option approaches.

• International Journal of Highway Engineering
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• v.14 no.6
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• pp.13-23
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• 2012

PURPOSES : This study is to improve the highway management and rehabilitation efficiently by method for asset management. METHODS : Based on the literature review, The concept of this paper is to investigate the use of asset values from a Bridge management system to improvement of maintenance system more efficiently. This study is suggested for an evaluation method based on the current bridge condition by Written-down replacement cost of the assets. RESULTS : We suggests the optimization methodology of road asset valuation for budge distribution and performance measure. CONCLUSIONS : We evaluate all of national highway's bridge by the optimization methodology of road asset valuation, and suggest application methods of asset result.

• Proceedings of the KIEE Conference
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• 2007.04a
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• pp.225-227
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• 2007

Multi-Rater Feedback valuation is a way that guarantees an impartial personnel administration which can cut normal valuation by superiors. The Multi-Rater Feedback committee which is made of seniors, colleagues and minors. In this study, we build the computerize system with Multi-Rater Feedback which is very important factor on valuation. With this system provide data continuity, objectivity and equity, further convenience to members of the participation and efficient work management.

• Journal of Korean Institute of Industrial Engineers
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• v.33 no.2
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• pp.221-226
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• 2007

This paper suggests a valuation framework of investment project using the concept of real options. We show the valuation process of real assets using the risk-neutral pricing. Especially, we focus on the investment lag. Real assets have investment lag in general. The decision time and the payment time are not identical. So the investment lag should be considered when valuing real assets for reality. We provide the valuation process for real assets, including R&D project. The results of this paper can be used for the real assets valuation and strategic decision analysis.

• Environmental and Resource Economics Review
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• v.10 no.4
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• pp.515-545
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• 2001

This paper introduces the least absolute deviations estimation of the contingent valuation model, which corresponds to the semi-parametric estimation of discrete choice models by Manski (1975, 1985) and Lee (1992). The least absolute deviations estimation is more robust to mis-specified distributional assumptions in the estimation of the contingent valuation model, compared to the maximum likelihood estimation. The full identification and strong consistency of the estimation are proved and its application to different formats of contingent valuation survey data is discussed. Simulation studies are designed to evaluate its operational characteristics including computational strategies, small sample properties and the efficiency gain of a follow-up question. The bias and efficiency of least absolute deviations and maximum likelihood estimation are compared in the presence of heteroskedasticity.

• Korean Journal of Mathematics
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• v.18 no.2
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• pp.185-193
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• 2010

Let D be an integral domain, and let ${\bar{D}}$ be the integral closure of D. We show that if D is an almost pseudo-valuation domain (APVD), then D is a quasi-$Pr{\ddot{u}}fer$ domain if and only if D=P is a quasi-$Pr{\ddot{u}}fer$ domain for each prime ideal P of D, if and only if ${\bar{D}}$ is a valuation domain. We also show that D(X), the Nagata ring of D, is a locally APVD if and only if D is a locally APVD and ${\bar{D}}$ is a $Pr{\ddot{u}}fer$ domain.

• Journal of the Korean Society of Clothing and Textiles
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• v.30 no.5 s.153
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• pp.733-741
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• 2006

This study was to investigate categories of valuation and make the standard on developing valuation of natural dyes by Delphi method. The three-round Delphi tests were performed with 36 professional in the academic, the industrial, and the art field.'Dyeability property' meant levelling, adsorption, color diversity with mordant, color stability, 'marketability', possibility of mass production, economical efficiency, functionality, demand and supply of natural dyes, 'color', yield, beautiful color, value of color and 'color fastness', washing, perspiration and light fastness. Indigo, persimmon, cochineal, safflower and onion in dyeability property were evaluated highly, functional natural dyes in marketability, red and purple color ones except indigo in color and ones containing tannin in color fastness.

• Journal of Korea Technology Innovation Society
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• v.8 no.2
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• pp.623-649
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• 2005

This study examines the underlying properties of technology valuation and empirically tests the difference in various aspects of the determinants of technology valuation in Korea. In particular, this study analyzes influential factors on the determination of economic value of a technology. For this purpose, we look into the trends of technology valuation in Korea and analyze the patterns of technology valuation in terms of intellectual property, technology area, discount rate, and contribution of technology to business value. By doing so, this paper investigates how the economic value of a technology in transfer or commercialization of technology is determined in Korea and draw implications from the process of discussion.

• Journal of Korea Technology Innovation Society
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• v.7 no.2
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• pp.413-439
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• 2004

There are many new technologies developed these days and the companies try to assess their technologies in order to either get financial supports or verify how valuable they are. However, since not only so many innovative technologies have been developed, but also the areas are very diverse, it becomes really difficult to value the technologies by the conservative technology valuation systems. Especially, in the energy technology area, it is much harder because energy technology is mainly used for public purposes and there have not been many experiences of valuing technologies. In this paper, the objective and systematic technology valuation system tool for energy technology will be suggested and investigated.