• Journal of Korean Society of Forest Science
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• v.99 no.6
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• pp.900-907
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• 2010

Recreation forests are offer to personal development through recreation, education about nature, association with people, mind relaxation in forests. Most efficient method for measuring Recreational value of natural forest is economic approach, and Obtained by this approach, visitors to the recreational forests and other people will be able to explain recreational value. The value of the environment goods are not traded in the market, it's real value is difficult to measure. People have appreciated the value of the natural environment but it is not easy to answer the question how much monetary value a natural enjoy prosperity environment. This study is involved in giving the right recognition to the value of recreation and environment by estimating economically the value of the environment in which visitors stay, and presenting the appropriate price. The environmental value of a recreation forests is estimated through contingent valuation method (CVM). The annual recreation value per person of surveyed recreational forests is WTP with a mean between about \14,000 and 16,500. The recreation value of one recreational forest surveyed is annually between approximately 1.2 billion won and 1.4 billion won. The annual recreation value of Chungbuk Province recreation forests is presumed to be between about 15 billion won and 16.9 billion won.

• Asian Journal of Innovation and Policy
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• v.4 no.2
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• pp.200-216
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• 2015

This paper empirically investigates the role of R&D intensity on market concentration of firms using four key market valuation variables, namely (1) market share, (2) labor intensity, (3) firm age and, (4) firm's market value. The empirical tests use database at firm level for the Indian IT sector from 1999 to 2013 from the CMIE Prowess database. The results of the regression analyses partially support our hypothesis that R&D intensity positively influences firm's market value measure by the H-index. The test results are consistent with the hypotheses that R&D spending is more valuable for firms with larger market shares, higher labor intensity, and firms that are diversified.

• 한국경영정보학회:학술대회논문집
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• 2008.06a
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• pp.957-962
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• 2008

We propose a model for the line expansion problem in the AMOLED (Active Matrix Organic Light Emitting Diodes) industry, which now faces market uncertainty: for example, changing customer needs, technological development path, etc. We focus on the optimal investment time and size of the AMOLED production lines. In particular, employed here is the ROV (Real Options Valuation) model to show how to capture the value of line expansion and to determine the optimal investment time. The ROV framework provides a systematic procedure to quantify an expected outcome of a flexible decision which is not possible in the frame of the traditional NPV (Net Present Value) approach. Furthermore, we also use Monte Carlo simulation to measure the uncertainty associated with the line expansion decision; Monte Carlo simulation estimates the volatility of a decision alternative. Lastly, we present a scenario planning to be conducted for what-if analysis of the ROV model.

• Journal of Korean Institute of Industrial Engineers
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• v.32 no.3
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• pp.180-190
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• 2006

We evaluate the economic value and the optimal investment timing of IMT-2000 in Korea, in the perspective of a service provider who owns the business license for IMT-2000, by using the real options analysis. The result clearly shows the project value with options is positive and delaying the investment is more favorable to the provider. Binomial lattice approach, in which we try to describe American call option and sequential compound option, and sensitivity analysis present the optimal decisions according to future states and enable the management to make decision strategically and proactively.

• The Korean Journal of Community Living Science
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• v.13 no.1
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• pp.25-40
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• 2002

Recently the rural women's role has been changed from assisting men to leading major farm work. However, contribution of women in the rural area has not beers fairly evaluated. Hence, it has been difficult for the rural women to receive the reasonable compensation if they injured, had some disasters or were divorced. Therefore this study tried to suggest economic methods such as market cost approach, opportunity cost method and shadow wage method for evaluating rural women's labor. It might provide some information for helping to establish the status of rural women as a income earner through estimating money value of labor contributed by rural women and furthermore, be useful information to improve the efficiency of farm labor by exploring the relationship between value of labor and actual income. Hence, it might help improve the economic situation and life at home of rural women, solve difficulties in the real life and reduce disparity of economic distribution between urban and rural area.

• Journal of the Korea Safety Management & Science
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• v.10 no.3
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• pp.193-201
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• 2008

As The development and commercialization of advanced technologies will depend increasingly on efficient technology transfer and technology trading systems and the knowledge economics grows rapidly, the value of intangible assets is more emphasized in business nowadays. Intangible assets include intellectual capital and intellectual property. This requires the development of technology markets or exchanges and hence a reliable technology valuation methodology. Our focus is on the business aspects of technology' contribution and we propose an objective scoring system, which is implemented by ANP, for Technology valuation of enterprise. As a result, This study intends to evaluate the contribution of an individual technology in intangible assets by the Analytic Network Process(ANP).

• Proceedings of the SAREK Conference
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• 2009.06a
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• pp.650-655
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• 2009

In this study, a consumer willingness to pays for residential heating systems are estimated by economic valuation method. The major Korean residential heating systems in apartments are central heating system (CH), district heating system (DH), and individual heating system (IH). However, DH and IH systems are adopted in newly constructed apartments. Each heating system has own characteristics which residents can identify and value. 700 households in apartment were surveyed to analyze the preference of the residential heating systems and to estimate willingness to pay. We find that the households in DH system are more satisfied with their heating system than the households in other systems overall and that consumers prefer an apartment with DH system than with IH system and the willingness to pay for IH system is less than DH system. The results indicate that DH system has the relative premium which may be caused by the safety and the convenience to manage the system.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2002.05b
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• pp.181-198
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• 2002

This article describes a methodology for evaluating huge aerospace R&D investments using the real options pricing method. Option pricing has been proposed as a useful approach for modeling investment in R&D. Two important features of R&D investments are that an R&D project takes time to complete and that the outcome of R&D investments is highly uncertain. This makes the analysis of R&D investments difficult. Traditional tools for project evaluation, like IRR or the NPV, are inadequate for coping with the high uncertainty. Hence, In this article I propose a log-transformed binomal lattice method, and it will show that option pricing might be an adequate framework for evaluating such types of aerospace investments.

• Proceedings of the Korean Society for Quality Management Conference
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• 2006.04a
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• pp.400-404
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• 2006

The environmental problem come because the demage cost of environmental pollution is not properly reflected in market price. The government regulations for market is justified to solve the problem. The policy needs a close analysis of environmental, economical effect for the point of time, methods, rational decision making of the government regulations. Especially, we need to assume and analyze about social expenses by environmental pollution and policy execution. The cost-benefit analysis about environmental pollution is used to support decision making. The value of benefit about damage by environmental pollution or about improvement changes a monetary unit through the cost-benefit analysis. The working like this is said environmental material valuation or measuring valuation. This work is studied about looking for proper analysis model to apply our environmental materials.

• The Journal of the Korea Contents Association
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• v.16 no.3
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• pp.676-693
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• 2016

Although the methodology and models to assess the economic value of technology assets such as patents are being presented in various ways, there does not exist a structured assessment model which enables to objectively assess a database property's value, and thus there is a need to enhance the application feasibility of practical purposes such as licensing of DB assets, commercialization transfer, security, etc., through the establishment of the valuation model and the life-cycle decision logic. In this study, during the valuation process of DB assets, the size of customer demand group expected and the amount of demand, the size and importance of data sets, the approximate degree of database' contribution to the sales performance of a company, the life-cycle of database assets, etc. will be analyzed whether they are appropriate as input variables or not. As for most of DB assets, due to irregular updates there are hardly cases their life-cycle expires, and thus software package's persisting period, ie. 5 years, is often considered the standard. We herein propose the life-cycle estimation logic and valuation models of DB assets based on the concept of half life for DB usage frequency under the condition that DB assets' value decays and there occurs no data update over time.