• 제목/요약/키워드: Valuation

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CVM에 의한 농촌환경개선사업의 경제적 가치평가 (Estimating the Economic Valuation of Rural Environmental Improvement Using Contingent Valuation Method)

  • 이관희;김영표
    • 농촌계획
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    • 제10권3호
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    • pp.33-39
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    • 2004
  • The purpose of this study is to estimate the economic valuation of rural waste disposal facilities that are one of the rural environmental improvement projects using contingent valuation method(CVM) in Gyongsangbuk-do, Korea. This study surveyed 1,089 households about the WTP(Willing To Pay) of rural waste disposal facilities policy in Gyongsangbuk-do and it was composed with city level and town level. The overall results show that the respondents well accepted the contingent market and would be willing to pay(WTP) a significant amount for the proposed policy program of rural waste disposal facilities. The values estimated for the rural waste disposal facilities are as follows : 1. The maximum WTP was \10,466 in City level and it was \9,104 in town level by per year. 2. The mean WTP was \9,257 in City revel and it was \8,636 in town lever by per year. 3. Total economic benefits for the household amounted to \7,989,046,270 per year. This result can be used to useful base data fir the policy programs of rural waste disposal facilities.

국가 신성장사업의 컴파운드 옵션에 의한 가치평가: 태양전지, 자동차용 전지, 바이오제약의 비교 (Valuation of New Growth Businesses by Compound Option Model: Comparison of Solar Cell, Automotive Battery, and Bio-Pharmaceutical)

  • 권오상
    • 한국산학기술학회논문지
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    • 제12권7호
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    • pp.3016-3021
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    • 2011
  • 국가 신성장사업의 투자계획은 알려져 있으나 그 수익성에 대한 분석 및 예측은 찾기 어렵다. 본 고에서는 불확실성이 큰 신기술사업의 가치평가시 사업주체의 의사결정의 유연성에 기인하는 가치를 감안할 수 있는 컴파운드 옵션 모델에 의해 그 가치평가를 수행하고자 한다. 10개의 후보사업군 중 태양전지, 자동차용 전지, 그리고 바이오제약을 그 대상으로 하여 비교 연구를 수행한다. 또한, 실물옵션 가치평가 이론을 검토하고 그 적용의 한계에 대해서도 서술하였다.

Private Equity Valuation under Model Uncertainty

  • BIAN, Yuxiang
    • The Journal of Asian Finance, Economics and Business
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    • 제9권1호
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    • pp.1-11
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    • 2022
  • The study incorporates model uncertainty into the private equity (PE) valuation model (SWY model) (Sorensen et al., 2014) to evaluate how model uncertainty distorts the leverage and valuations of PE funds. This study applies a continuous-time model to PE project valuation, modeling the LPs' goal as multiplier preferences provided by Anderson et al. (2003), and assuming that LPs' aversion to model uncertainty causes endogenous belief distortions with entropy as a measure of model discrepancies. Concerns regarding model uncertainty, according to the theoretical model, have an unclear effect on LPs' risk attitude and GPs' decision, which is based on the value of the PE asset. It also demonstrates that model uncertainty lowers the certainty-equivalent valuation of the LPs. Finally, we compare the outcomes of the Full-spanning risk model with the Non-spanned risk model, and they match the intuitive economic reasoning. The most important implication is that model uncertainty will have negative effects on the LPs' certainty-equivalent valuation but has ambiguous effects on the portfolio allocation choice of liquid wealth. Our works contribute to two literature streams. The first is the literature that models the PE funds. The second is the literature introduces model uncertainty into standard finance models.

Novel Database Classification and Life Estimation Model for Accurate Database Asset Valuation

  • Youn-Soo Park;Ho-Hyun Park;Dong-Woon Jeon
    • 한국컴퓨터정보학회논문지
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    • 제28권7호
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    • pp.131-143
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    • 2023
  • 미래 지식의 사회에서는 비즈니스 데이터의 중요성이 증가할 것으로 예상되며, 기업이 제품을 제조하거나 서비스를 개발하기 위한 원재료로 인식되고 있다. 데이터의 중요성이 증가하면서 데이터베이스 자산의 경제적 가치를 판단하는 연구도 이루어지고 있다. 그러나 기존 연구는 데이터베이스 자산의 특성이 충분히 반영되지 않았다. 이에 본 연구에서는 데이터베이스 자산의 특성을 고려하여 데이터베이스 자산을 수익형, 비수익형과 공공재형 데이터베이스 자산으로 분류하였다. 또한, 수익형 데이터베이스 자산은 기존 기술가치평가와 유사하게 가치를 판단하는 것이 가능함에 착안하여, 기업의 위험 조정 할인율을 내포하는 데이터베이스 자산의 수명 산출 방법을 개발하였다.

The Application and Use of Land Quality Ratings In the Valuation of Agricultural Land: An Evaluation of the South Dakota Experience

  • Larry Jassen;Douglas Malo;Chung, Doug-Young
    • 한국지하수토양환경학회:학술대회논문집
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    • 한국지하수토양환경학회 2000년도 창립총회 및 춘계학술발표회
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    • pp.24-27
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    • 2000
  • The development of land classification and soil productivity rating systems (SPR) are examined for their application to valuation of agricultural land in South Dakota, USA. The application of SPR data to land valuation work conducted by real estate appraisers, tax assessors, and economists are discussed along with an assessment of its benefits and limitations.

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기술가치평가사의 기능 및 역할 (The Functions and Roles of Technology Valuation Analysts in Korea)

  • 이병민;이기호
    • 기술혁신학회지
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    • 제3권2호
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    • pp.14-32
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    • 2000
  • This paper is talking about the background, market demand, and government policy of technology valuation. The function and role of technology valuation analysts is appeared and suggested through the examples, such as the related specialists, the related organizations, the laws, and the references of foreign organizations. In particular, we wish this paper the good suggestion for the technology transfer, transaction, investment, M&A and so on.

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Contingent Claims Valuation of Optional Calling Plan Contracts in Telephone Industry

  • Park, Hyun-Woo;Kim, In-Joon;Kim, Tong-Suk
    • 한국경영과학회:학술대회논문집
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    • 한국경영과학회 1998년도 추계학술대회 논문집
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    • pp.253-256
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    • 1998
  • This paper presents a valuation methodology for optional calling plan contracts on free-phone calls in the telephone industry. Utilization of the model is not limited to valuation and consequent decision making for the subscribers; it provides a useful guideline for telephone companies in designing calling plans and assessing subscribers' behavior.

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기술기업의 기술가치평가시 위험조정 할인율의 결정 (Determination of Risk-Adjusted Discount Rate for the Valuation of Technology of Technology Firm)

  • 성웅현
    • 기술혁신학회지
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    • 제5권1호
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    • pp.59-71
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    • 2002
  • Risk, or exposure to uncertainty, is an inherent of risk-adjusted discount rate. It is therefore important part factor in the determination of risk-adjusted discount rate. This paper suggests the method to quantify risk and explains the process how to transfer quantified risk into incremental discount rate. The estimates of underlying risks will help determine the size of appropriate risk-adjusted discount rate with logical and scientific way when the technology valuation is made.

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독일 환경영향평가에서의 자연환경의 평가절차 (Use of Methods and Evaluation Systems of the Impact Mitigation Principle in German EIA)

  • Peters, Wolfgang
    • 환경영향평가
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    • 제2권2호
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    • pp.49-53
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    • 1993
  • Before the EIA was established in the Federal Republic of Germany, the impact mitigation principle - a planning instrument, which has its legal foundation in the German nature conservation legislation already had {and still has} the function to valuate environmental impacts. The valuation principles and methods which have been developed in correlation to this instrument are now also used in the EIA. Particularly for the valuation of alternating effects on the different ecological landscape functions and for the valuation of ecological mitigation and compensation measures this valuation methods are used. These methods base on a special kind of modelling nature and environment Following the aim of the nature conservation act, which is to save the capacity of the landscape to perform its essential functions, not the ecological factors (soil, water, air etc.) itselfs are evaluated but the ecological functions of the landscape, which are based on the ecological factors.

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부동산 투자가치평가를 위한 정보의 창출 (Information for the valuation of real estates)

  • 유성용
    • 정보학연구
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    • 제6권3호
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    • pp.53-64
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    • 2003
  • 우리나라에서 부동산은 투자대상이라기보다는 투기의 대상으로 인식되어 온 배경에는 부동산의 투자에 거액의 자본이 필요할 뿐 아니라, 부동산투자에 대한 정보의 부재가 큰 원인 중의 하나이었던 것으로 생각된다. 본 연구에서는 부동산투자를 건전한 방향으로 유도하고, 투자대상으로 활성화시키기 위한 투자가치평가모형 및 가치평가에 필요한 정보에 대해 설명하였다. 부동산 투자를 건전화하고 투자대상으로 활성화하기 위해서는 투자와 관련된 현금흐름의 추정 및 위험의 평가가 가능해야 한다. 이를 위해서 부동산의 유형별 및 지역별 거래량, 가격의 공시, 및 정부의 규제정책에 대한 정보가 필수적이다. 또한, 소액의 자본으로 부동산투자를 가능하게 하기 위하여 REITs와 같은 간접투자방법을 가속화하기 위한 정부의 제도적인 지원이 필요할 것으로 생각된다.

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