• Journal of Environmental Science International
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• v.15 no.3
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• pp.243-252
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• 2006

The emergy concept was used to valuate the contributions of a tidal flat ecosystem included in the fourth stage reclamation plan for the Youngsan River area to the Korean economy. Emergy contributions of the ecosystem were compared with those of economic valuations performed on the same ecosystem. The tidal flat ecosystem contributed 3.55 million EmW/ha annually. This, however, cannot be compared directly with those of the economic valuations because both methodologies approach the valuation of ecosystems in different perspectives. The emergy methodology is a donor-based valuation in which what goes into making a product or service is measured, while the economic valuation is a receiver-based approach in which human receivers determine the value of an ecosystem product or service. An emergy valuation was conducted for the three ecosystem functions included in the economic valuations to compare the results of both methodologies on the same basis. Fishery production and pollutants removal contributed 9.86 million EmW/ha/yr and 0.88 million EmW/ha/yr, respective1y. The conservation value of the tidal flat ecosystem was 3.55 million EmW/ha/yr. Overall, the emergy valuation that try to include works of both human and nature on the same basis resulted in higher economic contribution of the tidal flat ecosystem than that calculated by the economic methodologies in which only human works are measured based on the willingness-to-pay of people. This study showed that the emergy concept could provide an alternative tool for policy decision-making regarding utilization and conservation of ecosystems by approaching the ecosystem valuation from a different perspective than that of economic methodologies.

• Information Systems Review
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• v.5 no.1
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• pp.129-146
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• 2003

Increasing number of transactions and investments in technology has sparked a growing interest in technology valuation. However, it has not been easy to come up with an objective valuation of technology due to variance in technology value and specialty of technology valuation. The main objective of this paper lies in the development of a new system for technology valuation, Web-based Interactive Technology Valuation (WITV) system, which valuate the technology and analyze the technology value strategy. WITV system uses the Technology Valuation Attractiveness Model (TVAM). TVA is composed of the Intrinsic Value of Technology (IVT) and the Extrinsic Value of Technology (EVT). This paper experiment the feasibility of the TVA Model and WITV System by conducting an empirical study on small & medium sized manufacturing companies in IT industry, registered on KOSDAQ. In this study, the potential value is defined as the technology value. It is represents the expected profit appraised by the market under the competitiveness of technology and the growth of the market. TVA is measured as the index to forecast the Price-to-Book value Ratio (PBR), which is the proxy variable for the potential value of the technology. The results identify the feasibility of the TVAM through a high correlation between the TVA and the PBR.

• Journal of the HCI Society of Korea
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• v.11 no.1
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• pp.11-19
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• 2016

This study aimed to assess the economic value of the UX design and applied contingent valuation method (CVM) to the three smartphone screen unlock interface types: touch, fingerprint, and iris recognition. The contingent valuation method was chosen from various economic valuation approaches because the interface components such as the screen unlock are important user experience values but non-market goods which are not traded independently. Using the double-bounded dichotomous choice approach of the contingent valuation method, the survey results of the logit model showed that the economic value of touch unlock interface was 529 won, fingerprint was 4,214 won, and iris recognition was 1,316 won. That is, the fingerprint interface had the highest economic value, followed by iris recognition and touch interface. The main contribution of this research is that we examined a method for economic valuation of the UX design and generated systematic and credible results.

• Transactions of the Korean hydrogen and new energy society
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• v.25 no.3
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• pp.319-335
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• 2014

This study attempts to suggest an economic analysis model for SNG projects, which can reflect the future uncertainty objectively and applies the real option valuation incorporating the flexible investment decision. Based on this analysis model, net present value and internal rate of return were estimated by using preliminary feasibility study report of SNG project. And economic evaluation of SNG project was performed with real option valuation using binomial option model. Through this, the difference of analysis results between the real option valuation model and the discounted cash flow model were compared and the usefulness of the real option valuation model was confirmed. From the actual proof analysis, it is confirmed that the real option valuation model showed higher SNG project value than the discounted cash flow model did. It was confirmed that by applying the real option valuation model, economic analysis can be performed on not only the current straightforward SNG project, but also various future portfolios having options such as expansion, modification, or decommission.

• IE interfaces
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• v.15 no.4
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• pp.444-451
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• 2002

Recently, the interest in technology valuation is revived and increasing mainly due to the lack of suitability of the traditional valuation methods in explaining the market reaction to newly-emerging knowledge-oriented companies. Moreover, many firms are now gearing their efforts to the strategic use of technology asset such as technology licensing, transfer and commercialization. Firms are also trying to enhance their technological competitiveness by re-evaluating their technology level and thus identifying the strengths/weaknesses of their technology portfolio. To accomplish this objective, the development of an integrated evaluation system for technology assets is essential. This paper presents a technology valuation system developed for a steel manufacturing company in South Korea. The valuation framework is based on; (1) the multi-attribute evaluation of technological competitiveness using Analytic Hierarchical Process and; (2) the expected future benefit of the technology using four different methods of discounted cash flow estimation. The suggested framework will be easily applicable to various industries where technological competitiveness should be evaluated systematically.

• Bulletin of the Korean Mathematical Society
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• v.52 no.3
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• pp.935-946
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• 2015

The purpose of this paper is to introduce a new class of rings that is closely related to the classes of pseudo valuation rings (PVRs) and pseudo-almost valuation domains (PAVDs). A commutative ring R is said to be ${\phi}$-ring if its nilradical Nil(R) is both prime and comparable with each principal ideal. The name is derived from the natural map ${\phi}$ from the total quotient ring T(R) to R localized at Nil(R). A prime ideal P of a ${\phi}$-ring R is said to be a ${\phi}$-pseudo-strongly prime ideal if, whenever $x,y{\in}R_{Nil(R)}$ and $(xy){\phi}(P){\subseteq}{\phi}(P)$, then there exists an integer $m{\geqslant}1$ such that either $x^m{\in}{\phi}(R)$ or $y^m{\phi}(P){\subseteq}{\phi}(P)$. If each prime ideal of R is a ${\phi}$-pseudo strongly prime ideal, then we say that R is a ${\phi}$-pseudo-almost valuation ring (${\phi}$-PAVR). Among the properties of ${\phi}$-PAVRs, we show that a quasilocal ${\phi}$-ring R with regular maximal ideal M is a ${\phi}$-PAVR if and only if V = (M : M) is a ${\phi}$-almost chained ring with maximal ideal $\sqrt{MV}$. We also investigate the overrings of a ${\phi}$-PAVR.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.46
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• pp.351-380
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• 2010

Multinational Enterprises set the prices for transactions between affiliates based principally on their global interest. But the customs authority in Korea wants to set the arm's length price as high as possible to get higher dutiable value for customs purpose, while the internal tax authority in Korea prefers lower arm's length price to get higher value for corporation tax purpose by cutting costs. Problem caused by the inconsistent valuation methods on the same imported goods of the two tax authorities is the single most important tax issue facing multinational enterprises. In the meantime, the customs authority in Korea has thought that it is a universal trend worldwide for the Customs and Internal tax authorities to adopt different methods of valuation on transfer prices between related parties, so KCS couldn't accept APA prices. But the internal tax authority in Korea has taken the initiative in APA program so NTS provided taxpayer with safe-harbor. Recently, KCS created the Advance Customs Valuation Arrangement(ACVA) provisions in the 2008 revision bill of the Customs Act through benchmarking APAs program. Can APAs work for customs? Neither WCO or OECD presents any recommendation on the integration of the valuation methods, but calls for close cooperation between two authorities, which still leaves taxpayers very unstable. We will start to seek ways to integrate the customs valuation and transfer pricing in this study.

• 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 the Korean Data and Information Science Society
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• v.13 no.2
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• pp.45-53
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• 2002

A company's market value-added, which equals the excess of a company's market capitalization over it s book value, is used as one of the measures for intangible assets valuation in accounting literature. One problem with the approach is that the valuation results are affected by severe fluctuations in capital markets. In this paper, we propose an approach using the Kalman filter for intangible assets valuation. We apply this method to data of Korean electronic companies.

• Korean Journal of Organic Agriculture
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• v.13 no.2
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• pp.129-143
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• 2005

Attempting to make an economic valuation of semi-liquid manure raises various complex questions. These are the valuation under different farming conditions, cost-benefit analysis in connection with the investment requirements of different semi-liquid manure systems, different storage capacities, transportation distances and treatment procedures. In the following, there questions will be discussed : 1. What value do the different types of semi-liquid manure have under different farming conditions? 2. Which storage capacities are economically justified? 3. Under which conditions is the transport of semi-liquid manure over long distances profitable?