• Journal of Information Technology Services
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• v.18 no.1
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• pp.113-130
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• 2019

Data can be considered a core driver of the Fourth Industrial Revolution, and databases are needed to create value by efficiently obtaining, storing and analyzing the data. However, there are currently no adequate valuation methods to handle databases. This study aims first, to understand databases as the subject of valuation and analyze value drivers of databases, and second, to propose a database valuation model based on this finding. To this end, we derive value drivers of databases from the characteristics and value criteria of databases observed in previous studies. Based on survey data from 396 database service firms we verify the value drivers through linear regression analysis. We find that the annual growth rate in database capacity and the data types positively affect sales of databases and offer ways to utilize them when estimating the cash flow, which is the variable to apply the discounted cash flow method-based income approach. This study contributes empirical insights into how to valuate databases considering their value drivers.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.1
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• pp.29-36
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• 2020

Stock price multiple is one of the most well-known equity valuation technique used to forecast equity price. It measures by multiplying "the ratio of stock price to a value driver" by a value driver. The value driver can be earning per share (EPS), sales or other financial measurements. The objective of price multiple technique is to evaluate the value of assets and compare how similar assets are priced in the market. Although stock price multiple technique is common in financial filed, studies on the application of the technique in Thailand is still limited. The present study is conducted to serve three major objectives. The first objective is to apply the technique to measure value of firms in banking sector in the Stock Exchange of Thailand. The second objective is to develop composite price multiple index to forecast equity prices. The third objective is to compare valuation accuracy of different value drivers of price multiple (i.e. EPS, Earnings Growth, Earnings Before Interest Taxes Depreciation and Amortization, Sales, Book Value and Composite Index) in forecasting equity prices. Results indicated that EPS is the most accurate value drivers of price multiple used to forecast equity price of firms in baking sector.

• Journal of the Korean Society of Safety
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• v.21 no.5 s.77
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• pp.103-111
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• 2006

The purpose of this study was to analyse the relationships between cognitive abilities and driving characteristics of elderly drivers. Driving characteristics of elderly and younger drivers who were driving a fixed base driving simulator vehicle were examined. Participants consisted of 12 drivers over age 65 (the 'older' group) and 12 drivers between the ages of 25 and 55 (the "younger" group). As indices of cognitive ability, critical flicker fusion frequency (CFF) tests and cognitive reaction tests were given before the driving task. CFF was also tested after the simulated driving task for both groups. Cognitive reaction tests, which were composed of speed estimation tests, multiple choice reaction tests and obstacle avoidance tests, were developed by the Korean Road Traffic Safety Authority in 2003. CFF values between the two groups exhibited significant differences both before and after the task, with a p-value less than 0.01 and a t-value of -3.01 before the test and a p-value less than 0.031 and a t-value of -2.35 after the test. Older drivers' CFF values were lower than those of the younger. However, there was no difference in older or younger driver CFF values before and after the task within the same group. Except for the multiple choice reaction test, there was no difference in cognitive reaction test results between the two groups. The elderly drivers made more errors though they did not differ from the younger drivers in reaction times. At the simulated driving task the reaction time of the elderly driver was longer than that of the younger; however, the driving speed of the elderly was lower and the number of collisions greater. There was a positive correlation (r=.496) between the number of errors in the multiple choice reaction test and the number of collisions in the driving task. Therefore, it was identified that critical attributes contributing to automobile crashes involving elderly drivers included cognitive difficulty in judging and responding to complex situations.

• Asia Marketing Journal
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• v.24 no.4
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• pp.178-189
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• 2023

As the necessity of customer relationship management (CRM) increases, measuring the performance of CRM have been actively discussed. Customer equity (CE) is regarded as an appropriate indicator for evaluating the outcomes of marketing activities. There are three drivers of CE: brand, value, and relationship equity. This study aims to investigate the impact of three drivers on customer satisfaction. Market competition is an environmental factor that affects the effectiveness of CRM. This study divides target firms into leaders and followers. This study found that the differential impact of CE drivers on customer satisfaction depends on the firm's status (leader or follower). Specifically, the brand equity driver significantly impacts the leader firm. However, the impacts of value and relationship equity drivers are bigger for follower firms. The above results suggest that firms need to build CRM strategies that consider the competitive situation of the market and their position.

• Fashion & Textile Research Journal
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• v.15 no.2
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• pp.219-230
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• 2013

To generate future profits, luxury brands need to recognize and understand customers as individually important and analyze the impact factors that improve specific customer equity. With the growing recognition that customer equity is a key strategic asset, this study empirically investigates the effect of customer equity drivers on customer loyalty based on the study of Vogel et al.(2008) which expanded the Rust et al.(2000)'s study on customer equity. We empirically examine if the customer equity drivers have a different impact on customer loyalty. This study hypothesizes that the relative effect of customer equity drivers would be different depending on the purchasing behavior of consumers and examines the effects of them on the relationship of the drivers of customer equity and customer loyalty. We use stepwise multiple regression analysis to empirically test the relationship of value equity, brand equity, and relationship equity and customer loyalty. Relationship equity influences customer loyalty more strongly than value equity and brand equity. Customers seem to build loyalty based on the careful assessment of all costumer equity drivers (value equity, brand equity, and relationship equity). In addition, their relative impact is different depending on the purchasing behavior of consumers. A company cannot maintain all customer equity drivers at a high level with limited marketing resources; therefore, marketing investment for all customer equity drivers need to be allocated differentially depending on the purchasing behavior of consumers.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2008.10a
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• pp.218-233
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• 2008

This study reveals how corporate CRM activities can influence organizational performance by integrating CRM process with customer equity drivers, which have been regarded as independent research areas. The results show that the customer equity drivers including value, brand, and relationship equity mediate between CRM processes and organizational performance. In more detail, customer acquisition, retention, and expansion have positive relationships with brand, relationship, and value equity, respectively. Moreover, even though all customer equity drivers influence organizational performance positively, our analysis suggests that relationship equity has the strongest effect on it.

• Journal of the Ergonomics Society of Korea
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• v.35 no.5
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• pp.449-464
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• 2016

Objective: The objective of this study is to identify essential requirements of the instrument cluster's features and layout for elderly drivers through interview and paper prototyping. Background: Recent updates implemented in passenger vehicles require more complex information to be processed by drivers. Concurrently, a large portion of the US population, the baby boomer generation has aged, causing their physical and cognitive abilities to deter. Thus it is crucial that new methods be implemented into vehicle design in order to accommodate for the deterioration of mental and physical abilities. Method: Forty elderly drivers and twenty young drivers participated in this study. The test included three sessions including: 1) location value assessment to identify the priority of areas within the instrument cluster; 2) component value assessment to capture rankings of the degree of importance and frequency of use for possible instrument cluster components; and 3) paper prototyping to collect self-designed cluster with selection of designs for each component and location of features from each participant. Results: Results revealed differences in the area priority of the instrument cluster as well as the shape and location of component features for age and gender groups. Conclusion: The study provided insights on instrument cluster layout guidelines by proving elderly driver's mental model and preferred cluster design configurations to improve driving safety. Application: LCD-based vehicle instrument cluster design, with an adaptable feature configuration for cluster components and layouts.

• International Journal of Costume and Fashion
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• v.10 no.2
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• pp.73-88
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• 2010

Study aims to identify customer equity drivers and their relative importance, to represent customer lifetime value (CLV) distribution, and to investigate the effect of customer equity drivers and demographics on CLV when shopping apparels at the four big department stores in Seoul. Recently, Korean department stores marked significant decrease in sales volume and it calls for more focus on customer orientation. Customer equity is a managerial concept which considers customers as a valuable asset for business success. Sustainable competitive advantage is attainable when customer equity drivers and CLV are measured, managed and enhanced. results identified four dimensions of customer equity drivers such as 'retail brand equity: 'relationship equity', 'retail service equity', and 'price value equity'. Among them, 'relationship equity' was proved to be the most influencing factor on the customer's store patronage intention. The CLV distribution represented unique characteristics of each department store. The level of CLV depended on such demographics as age and income. Marital status influenced the relationship between perceived customer equity drivers and CLV. It also analyzed competitive structure of the four big department stores in Seoul and offered managerial suggestions. This study provided conceptual framework for the future study of customer equity related to apparel shopping at the department stores as well as managerial implications.

• Journal of Power Electronics
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• v.12 no.5
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• pp.715-722
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• 2012

New discrete time domain models for the peak current controlled (PCC) power LED drivers in continuous conduction mode include for the first time the effects of the time delay in the pulse-width-modulator. Realistic amounts of time delay are found to have significant effects on the average output LED current and on the critical inductor value at the boundary between the two conduction modes. Especially, the time delay can provide an accurate LED current for the PCC buck converter with a wide input voltage. The models can also predict the critical inductor value at the mode boundary as functions of the input voltage and the time delay. The overshoot of the peak inductor current due to the time delay results in the increase of the average output current and the reduction of the critical inductor value at the mode boundary in all converters. Experimental results are presented for the PCC buck LED driver with constant-frequency controller.

• Journal of the Korean Operations Research and Management Science Society
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• v.35 no.1
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• pp.1-17
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• 2010

This article addresses how an organization's customer relationship management (CRM) process affects customer equity drivers and, in turn, organizational performance. By raising a three-staged model including the CRM processes, customer equity drivers, and organizational performance, the authors assert that the customer equity drivers mediate between the CRM processes and organizational performance. The empirical analysis is based on a composite survey structure that gathers data from different types of informants according to the variables. Findings indicate that the expansion process has positive relationship with all the customer equity drivers. However, the acquisition process significantly influences both perceived value equity and brand equity, and the retention process significantly influences relationship equity only. In addition, the study shows that all the customer equity drivers influence the organizational performance given the existing customers. The relationship equity among the customer equity drivers has the strongest effect on the performance.