• Asia-Pacific Journal of Business
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• v.11 no.3
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• pp.153-167
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• 2020

Purpose - The purpose of this study is to examine whether social value-related expenditures can be recognized as intangible assets in financial statements. Design/methodology/approach - This study examined social values defined in the economic and management fields and analyzed whether the social values have the characteristics of intangible assets. For this, the general definition of social value was derived from the concept of social value covered in previous studies. Next, we reviewed the definitions and recognition requirements for intangible assets under the current accounting standards. Based on this, we tried to suggest new criteria and disclosure methods for reporting social value-related expenditures that are not currently reported in financial statements as intangible assets in the financial statements and notes. Findings - First, as a criterion for recognizing social value-related expenditure as an intangible asset, we propose a relationship between social value-related expenditure and enterprise value. Where social value-related expenditures have a statistically significant positive impact on corporate value, they are recognized as intangible assets. If social value-related expenditures have a statistically significant negative influence on business value, or the impact of social value-related expenditures on the enterprise value is not statistically significant, it is not recognized as asset. Second, new disclosure plans are proposed according to the combination of intangible assets by category and the relevance of enterprise value. After dividing social value-related expenditures into separate intangible asset categories, if social value-related expenditures have a statistically significant positive impact on corporate value, they are recognized as intangible assets in the financial statements. If expenditures have a statistically significant negative impact on business value, they should be recorded as essential notes. Finally, if the impact of social value-related expenditure on corporate value is not statistically significant, it should be listed as a supplement. Research implications or Originality - This study contributes to the concurrent research in that it is a priori study on whether social value-related expenditure can be recognized as an asset. This study suggests that the economic effect of social expenditure can be recognized in corporate financial statements, thereby providing companies with justification and effectiveness of social value-related expenditure.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.321-326
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• 2001

Current situations, such as IMF crisis, WTO agreement and decrease of construction market, demand changes to construction companies. To meet the situation, they focus on the value of the intangible assets to improve their competitive power. In Korea, Various institutes estimate the construction company in accordance with their Purposes. But their estimating method has limitations to know the potential value of the company because they don't much concentrate on characteristics of construction industry and intangible assets. This study was peformed to introduce the methodology of estimating intangible assets of company and to show the state of intangible asset of major construction companies in Korea. Market Capitalization Method(MCM) was used to calculate intangible assets and all data are based on Annual Business Report.

• Journal of Digital Convergence
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• v.7 no.2
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• pp.63-70
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• 2009

It is well known that in the knowledge-based economy a firm's intellectual property including patent is crucial for its competitive advantage. In industrial economy, tangible assets such as land and equipment have been of critical importance for a firm's competitiveness. However, as the paradigm shift to the knowledge-base economy is being accelerated, intangible assets such as intellectual property are considered to be more influential for a firm to be competitive. The valuation of intangible asset is as necessary as that of tangible asset. In particular, reasonably accurate valuation of patent which represents a firm's technological competitiveness seems to be of great importance since (1) it is essential for a firm's patent strategy development, (2) it can activate the technology market, and (3) it is necessary to evaluate a patent's technological contribution when multiple patents are used to develop and commercialize an innovative product. Unlike that of tangible asset, the valuation of intangible asset is very difficult. In order to figure out a value of patent it is necessary to use a number of appropriate valuation factors. In this paper, we surveyed various valuation factors presented by previous researches and several technology valuation organizations to find a set of common valuation factors considered to be of more importance.

• Knowledge Management Research
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• v.13 no.5
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• pp.1-13
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• 2012

This study investigates whether firm-specifics affect forecast accuracy using a sample of IPO firms in Korea. The forecasts accuracy can be differentiated depending on firm specifics. This study uses the foreign investor, intangible asset and patents as firm specifics. The analysts are divided into two groups by firm-specifies(foreign investors ratio of low and high, intangible asset ratio of low and high, patents of acquisition) and also examine the degree of analysts's forecast accuracy over the two groups. and examined the degree of the analysts' forecast accuracy over the two groups. The sample is composed of 460 IPO (Initial Public Offering) firms listed on the KOSDAQ (Korean Securities Dealers Automated Quotations) for the period from 2001 to 2009. The analysts' forecast accuracy is much higher in the group of high foreign investor but is lower in the group of high intangible assets and patents. Also, the group of high foreign investors respectively interacts with group of high intangible assets ratio and group of patents of acquisition. In result, The analysts' forecast accuracy is higher because foreign investor is decreased information asymmetry. This study compares suggests that patents may be helpful for predicting forecast accuracy.

• Journal of Korea Technology Innovation Society
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• v.12 no.2
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• pp.291-311
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• 2009

Intellectual Property(IP) investment and its management are an key driver to create corporate value and intangible asset value through corporate's competitiveness. The purposes of this study are to survey capability of IP management and assess the effects of IP investment and its management on the separation into groups of intangible asset value. In order to attain those purposes of this study, sample companies were taken and categorized into three groups by the level of intangible asset value ratio, and data for IP investment such as R&D expenditure and advertising expenditure were collected from 90 manufacturing companies, and data for IP management capability about patent, design and brand were taken through survey. The final results showed as followed: First, IP management capability were generally not sufficient in the results of survey. Second, mean vector for the four variables were significantly different among three groups in multivariate analysis variance. Third, the order of their contribution to separating the groups were R&D expenditure, advertising expenditure, patent management, management of design and brand in canonical variate analysis. Fourth, R&D and patent management capability were significantly related to the separation of three groups, while advertising expenditure were not significant and management of design and brand were not sure of Significance in multinomial logit discriminant analysis. Fifth, exploratory power of the discriminant model were estimated by 53% in classification analysis. Finally, strategic policy for IP investment and its management should be taken urgently to create intangible asset value and to improve the capability of its management.

• Journal of Information Processing Systems
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• v.1 no.1 s.1
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• pp.79-85
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• 2005

In this paper, we dealt with substantial asset analysis methodology applied to two-dimensional asset classification and qualitative evaluation method according to the business process. Most of the existent risk analysis methodology and tools presented classification by asset type and physical evaluation by a quantitative method. We focused our research on qualitative evaluation with 2-dimensional asset classification. It converts from quantitative asset value with purchase cost, recovery and exchange cost, etc. to qualitative evaluation considering specific factors related to the business process. In the first phase, we classified the IT assets into tangible and intangible assets, including human and information data asset, and evaluated their value. Then, we converted the quantitative asset value to the qualitative asset value using a conversion standard table. In the second phase, we reclassified the assets using 2-dimensional classification factors reflecting the business process, and applied weight to the first evaluation results. This method is to consider the organization characteristics, IT asset structure scheme and business process. Therefore, we can evaluate the concrete and substantial asset value corresponding to the organization business process, even if they are the same asset type.

• Knowledge Management Research
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• v.12 no.4
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• pp.91-119
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• 2011

Compared to the industrial society, the knowledge-based economy of the 21st century has placed importance on intellectual capital as a sustainable competitive advantage of an organization. The ownership, creation, and interaction of intellectual capital is emerging as the main challenges of the management and, moreover, it might extend to the issue of intellectual capital management. This research found that the exploitation and sharing of knowledge was more efficient in a networked organization through a case study for A research institute, which attempted intellectual capital management domestically for the first time. The contribution of this exploratory research is to suggest new perspectives on the ownership of intangible asset, the evaluation of knowledge-based product, and the competitive advantage and complementarity of an organization in the knowledge-based economy. The limitation is that this research is just exploratory due to the inaccessibility of data. If the intellectual capital management would be more common, the diverse researches should be empirically carried out.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2011.04a
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• pp.197-202
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• 2011

The purpose of this study was to investigate the current situation of physical and intangible assets, and to analyze the use of planning in a new cultural space creation project areas. For this study, literature survey, filed survey and participant observation methods were used for data collection. The results were as follows. 1) The project's characteristics had a variety of space utilization's scope. It was to emphasize the organizations and participants in the human side. 2) There are the pumping stations, mokgammak, mills, barbershops, marketplaces etc in physical assets, and it was worth the historic or agricultural facility. 3) The using plans of three kinds in hardware facilities, software programs, human ware(human abilities)are linked to each other organically. 4) The problems in the project's process include the administrative and institutional factors rather than planning matters.

• (The) Research of the performance art and culture
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• no.32
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• pp.7-30
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• 2016

The inter­relationship of Korea southeast region community related to a mask dramas in depth. The Folk mask dramas are, for traditional community members to live well and enjoy cultural practices in society. Even if a mask drama would be performed in the 21st century, it would be the one of traditional society. It shows the life of traditional society and proposes the issue of traditional society. The thing is handed down well with technology of a mask drama assigned as intangible cultural asset. The Korea southeast region, Kyongsang Provinces, or Yeongnam area has been handed down several kind of mask dramas. These are Byeolsingut Talnori with religious, the Ogwangdae of wandering play team, the Ogwangdae of local residents, and the Dulnorum of local residents. The mask dramas of Korea southeast region are specified as intangible cultural asset, many traditional mask play were restored. The restoring is imitation. These things are difficult to assigned as the intangible cultural asset. But though it is the imitation of the mask dramas, it is culture phenomenon. So we need to make the fostering system.

• (The) Research of the performance art and culture
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• no.39
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• pp.197-222
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• 2019

In the paper, this study will be explored in the migration of the mask dance Eunyeul Talchum from North Korea to South Korea after the national division took place. During and after the Korean War, refugees from the Hwanghae province settled in the Republic of Korea who were performers of the three Korean mask dances: Bongsan Talchum, Kangryeong Talchum and Eunyeul Talchum. All of these mask dances are denoted as South Korea's National Intangible Properties under the Cultural Property Protection Law (1962.) However, Eunyeul Talchum is the only asset among these three that settled in Incheon, instead of the capital, Seoul. The purpose of this research is to examine the process of restoring and the idea of transmitting Eunyeul Talchum in Incheon after the division of Korea. As opposed to Bongsan Talchum and Gangryeong Talchum, which are recognized as major socio-ethnic groups, Eunyeul Talchum belongs to a minority. Because not only Eunyeul Talchum is the last Mask Dance which has been nominated as an Intangible asset among the other Hwanghae Talchum but also, most people in the preservation association are comprised of the second-generation refugees from Hwanghae province. During three months of research, the researcher observed the performances and the educational communicating Eunyeul Talchum's cultural legacy. This study included several research methods: open interview, examination of relevant documents, and live performances. Particularly, the researcher conducted interviews with the Human Cultural Property and musicians (including professional/scholarly to lay/untrained) in the Preservation Association. In conclusion, Eunyeul Talchum preservation association is not as preeminent as other Korean mask dances, it has been transmitted by performers from Hwanghae province with its unique masks and instrumental accompaniment. These performers and educators dedication to maintaining Eunyeul Talchum's attributes contribute largely to the Preservation Association's successful settlement in Incheon. Thus, the researcher examines which idea formed to subsist the Eunyeul Talchum preservation association.