• Journal of the Korea Society for Simulation
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• v.14 no.4
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• pp.19-30
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• 2005

Due to explosive expansion in R & D efforts for advancement of technological predominance by Enterprises, the volume of technical information rapidly increases and emphasize on the valuation of this information has grown ever increasingly important. Therefore the requirement for systematic management and safeguard and accumulation of these intellectual properties of the Enterprise is in very high demand. A lot of effort and research has been carried out and many on going studies in progress to try to derive the optimum solution on how to manage information retention policy, processes, execution method, and hardware to execute the information with and etc. The intent of this thesis is to recommend a way for the Enterprise on how to evaluate the valuation of the data and to suggest the method on how to manage these intellectual properties by way of using Information Lifecycle Management theory which manages data according to the business valuation of the data. The decision on valuation of data and retention cycle is based on analytic method of a nonparametric regression, experimentation was carried out by applying to Enterprise Document Management System to present the suitable retention cycle according to the valuation and variety of attribute of data.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.7
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• pp.3016-3021
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• 2011

While there is ample information on the investment plans about Korea's selected new growth businesses, it is hard to find any analysis on the valuation of the projects. In this paper, I intend to do a valuation for the three particular technologies, which are solar cell, automotive battery, and bio-pharmaceutical, based on compound option model so that the valuation can capture not only the expected net cash flow but also the value originated from the flexibility of the decision maker. In addition, the real option pricing theory is reviewed and its practical limitations are thoroughly investigated.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.1
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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.

• Journal of Venture Innovation
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• v.2 no.2
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• pp.127-140
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• 2019

A stock valuation on the tax law is based on the valuation by market price. But, unlike the listed stocks, the unlisted stocks mostly have the unclear market price. Accordingly, it is necessary to calculate the fair value which corresponds to the market price. The purpose of this paper is to examine the appropriateness of the complementary valuation method in the Inheritance Tax and Gift Tax Act and to provide suggestions for improvement. This study is intended to provide the problems and solutions relating to the valuation of unlisted stocks through analysis of foreign legal systems and actual disputes. When the actual profit/loss data are used to calculate the net profit/loss value on the present regulations, it has the different weight on the latest 3 years' net profits and losses uniformly. Therefore, to extend the range of unlisted stocks valuation and to show the independent and high professionalism of appraisal council not the subsidy appraisal agency of the National Tax Service, it is necessary to change the current rule that the commissioner of the National Tax Service unilaterally appoints the private members into the method of public offering.

• Journal of Korea Technology Innovation Society
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• v.16 no.1
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• pp.252-278
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• 2013

Many countries implement an offset program as a method of the acquisition of modern military technology for enhancement of the domestic military strength. Offset agreements are made based on the value, not a monetary unit. The value should be above minimum threshold fixed by the related regulation. Hence, technology valuation model which is objective and reasonable is required vitally. At present, some defense related organizations such as DTaQ, ADD valuate the proposed technology by using their own method. However, due to the lack of differentiation of valuation analysis indicators for various technologies, existing offset valuation models are inadequate to consider whole characteristics of such technologies. In this paper, we developed four sets of offset valuation analysis indicators considering the characteristics of each technology, parts production, depot maintenance, military equipment performance upgrade, and R&D related technology, by using the Delphi method. Also, we structurized those indicators in each technology by using the factor analysis. Through applying developed indicators, it is expected that technology valuation in the offset program would be more credible and accurate. Ultimately, it gives greater bargaining power to negotiators in the procedure of the offset negotiation.

• Knowledge Management Research
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• v.18 no.1
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• pp.67-81
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• 2017

As the important breakthrough continues in the field of machine learning and artificial intelligence recently, there has been a growing interest in the analysis and the utilization of the big data which constitutes a foundation for the field. In this background, while the economic value of the data held by the corporates and public institutions is well recognized, the research on the evaluation of its economic value is still insufficient. Therefore, in this study, as a part of the economic value evaluation of the data, we have conducted the economic value measurement of the data generated through the small business guarantee program of Korean Federation of Credit Guarantee Foundations (KOREG). To this end, by examining the previous research related to the economic value measurement of the data and intangible assets at home and abroad, we established the evaluation methods and conducted the empirical analysis. For the data value measurements in this paper, we used 'cost-based approach', 'revenue-based approach', and 'market-based approach'. In order to secure the reliability of the measured result of economic values generated through each approach, we conducted expert verification with the employees. Also, we derived the major considerations and issues in regards to the economic value measurement of the data. These will be able to contribute to the empirical methods for economic value measurement of the data in the future.

• Journal of Korea Technology Innovation Society
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• v.15 no.2
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• pp.242-261
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• 2012

Early stages of technology valuation have been often overlooked or under-represented. The early stage technologies are even riskier due to their inadequacy of commercial development and market applicability. More than 95% of patents fail to earn any revenues so that the majority of patents were valueless. Technology transfers from laboratories at universities and research institutes to industrial firms have increased to acquire value from invented technologies. Technology transfer, a process of transferring discoveries and innovations resulted from research to commercial sectors, typically comprises several steps: disclosing the discoveries and innovations, i.e., intellectual property (IP), evaluating the IP's economic prospects, securing a patent, copyright or trademark for the IP, commercializing the technology through licensing, forming a joint venture, or selling. At each of those stages in the research and development of technology, the value of technology would play a very important role of making decision on the movement toward the next step, however, the financial value of technology is not easy to determine due to a great amount of uncertainty in the course of research and development, and commercialization. This paper refers to technology embodied as devices, equipment, software or processes primarily developed at public research institutions such as universities. Sometimes it is also as the result of externally financed projects contracted with industry. Nearly always technology developed at public research entities results in laboratory prototypes. When it is required to define the technology transfer contract terms for the license of the university patrimonial rights to external funding companies or other interested parties, a question arises: what is the monetary value? In this paper, we present a method for technology valuation based on the identification of specific value points related to its development. The final technology value must be within previously defined value limits. This paper consists of the review of issues related to technology transfer and commercialization, the identification of characteristics of technologies in the early stage of technology development, the formulation of framework of methods to value the early stage technologies, and the conclusion and implication of the previous review.

• Journal of Agricultural Extension & Community Development
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• v.16 no.3
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• pp.643-668
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• 2009

The purpose of this study is to estimate the value of the sociocultural multifunctionality of rural areas in Korea. The sociocultural multifunctionality of rural areas consists of emotional comfort, green landscape, cultural heritage, and rural viability values. The value of the sociocultural multifunctionality was assessed by contingent valuation method incoporating preference uncertainty. The log-logit models indicated that households were willing to pay 14,027~26,757 won per month and the model with preference uncertainty gave the highest WTP. WTP was affected by respondent's sex, location, awareness of relation with multifunctionality and others. The total value of sociocultural multifunctionality of rural areas in Korea estimated to 2,691~5,134 billion won per year.

• Journal of Korea Technology Innovation Society
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• v.8 no.1
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• pp.94-115
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• 2005

The purpose of this study is to evaluate the economic value of a biotechnology in the middle of R&D and to examine strategies to manage a variety of risks and uncertainties intrinsic in research and development of biotechnologies through economic valuation in consideration of technological and industrial characteristics of the technology. To do this, this study analyzes the probability of commercial success of the technology development in qualitative terms, evaluates the quantitative value of the technology on the basis of a determined model, and proposes the implications on R&D strategy. In concrete, this study analyzes the economic value of the technology by constructing a decision tree reflecting the characteristics of the R&D process of the technology and draw the implications on the future R&D strategies of the technology.

• Journal of Biosystems Engineering
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• v.26 no.4
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• pp.363-370
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• 2001

This study intended to estimate the willingness-to-pay amount by farmers for the automatic guidance technology of Combine. Contingent Valuation Method was employed for this estimation using survey data from 65 Combine using farmers. Based on the dichotomous choice model, farmers’willingness-to-pay for the automatic guidance technology was ranged from ￦4,772,000(median) to ￦5,268,000(mean). The estimated willingness-to-pay by the for the new technology was approximately one quarter of the average value based on the willingness-to-pay for the new technology was approximately one quarter of the average value of Combine in sample farms. This implies that there is an economic rationals for developing the new technology as long as it will be available with the cost less than the amount of estimated willingness-to-pay.