Cross impact relationships exist among technologies. The purpose of this study is to develop a Cross Impact-based Technology Valuation Model necessary for evaluating the value of interdependent technology. For this purpose, cross impact relationships among interdependent technologies within specific technological system are analyzed by using Fuzzy Structural Modeling(FSM) Method. The model developed in this study will be a useful means of strategic decision making for companies which transact technologies.

This study reveals that the user industry has a limited role as a source of technological capability in the case of the machine tools in Korea where the user industry is relatively mope advanced than other capital goods industry. The study examined the sources of technological capability in terms of migration of workforce and flow of product design information. Although the capital goods sector is generally regarded as being the sector where the user producer interaction is important the user industry failed to be the seed-bed of technological capability to develop machines. This study argues that this finding could have implications to the specificity of capital goods in a developing country.

R&D is the core competence of an enterprise. Furthermore, R&D requires huge capital investment and has very risky characteristics. Therefore, to be successful in R&D process, several approaches of engineering economics are used prior to decision-making. Until now, typical approaches of engineering economics such as NPV(net present value) or DCF(Discounted cash flow) have been used. But, they cannot properly capture managerial flexibility to adapt and revise later decisions in response to unexpected market development. In a constantly changing and always uncertain marketplace, managerial operation flexibility and strategic adaptability have become vital in order to successfully capitalize on favorable future investment opportunities and limit losses from adverse market development. For the alternatives of conventional static decision-making approaches, new concept of using real options is introduced. Real option theory is based on financial option's characteristics and checks every revision interval whether situation have changed favorable to decision maker or not. In advantageous situation, the decision maker has only to go on. In contrast, with unfavorable situation, he abandons the investment immediately. In this aspect, real option model is more suitable in very uncertain and dynamic business environment in that it can provide the opportunity to cope with flexibility. This paper suggests efficient and effective R&D investment strategy by using real options model. In addition, this paper compares financial options and real options.

Technology transfer from universities and research institutes to industries is recognized as a critical issue to strengthen industrial competitiveness, and the roles of technology transfer intermediaries are becoming one of the most important factors for successful technology transfer In today's global and knowledge-based economies, technology transfer services are started shifting to Internet and vertical transfer of technology from R&D labs to industries is becoming more emphasized than horizontal company-to-company transfer of commercialized technology. And the need of comprehensive technology transfer services necessitates cooperation among technology transfer intermediaries and networks offering complementary services. In order to respond to these changes, it is required to construct a new type of technology transfer system. But there are few researches on technology transfer system configuration for design and realization of technology transfer intermediaries. This paper presents the configuration models of technology transfer from universities and research institutes to industries. The configuration models are classified and described from the viewpoint of flows of information, technology and knowledge.

This paper investigates the effect of imported technology on the economic growth of Korea. To this end, the relationship between input technology and economic growth are suggested in the numerical form and analysed empirically. The rates of return of technology investments, which are divided into the domestic R&D investment and the investment on imported technology, are estimated. Based on the result of this analysis, the rate of return of the input technology, which includes the domestic R&D investment and the investment on imported technology, are estimated as 31.4%, and this input technology is calculated as to contribute 8.9% on the economic growth rate of Korea. And the domestic R&D investment is fumed out to have bigger rate of return than the investment on imported technology during the surveyed period. However, the rates of return of detailed R&D investments, which can be divided into the investments on commercial R&D and basic science, were not calculated in this paper, because of the lack of data on this in this paper. As well, the time-lag effect, which is naturally believed to exist between the R&D investment and the economic growth, could not be analysed wit:1 the same reason. Thus when analysing the relationship between them, this paper tried to minimize the time-lag effect by using the long-term data of twenty-three years.

Recently, with the advent of knowledge-based economy and techno-economic paradigm social demands for technology valuation have increased. In nature, however, technology valuation is an intractable task since technology is characterized by intangible and tacit factors and is traded in a suppliers market. Consequently, it is quite common that each individual or organization has ie own valuation method or criterion. The main objective of this research is to propose a new technology valuation method which is easy to understand and apply. In addition, the method is designed to generate monetary value, rather than score or rank, of technology. To this end. we have proposed the overall framework and detailed procedure of a new valuation method. In doing that, we have emphasized the following factors. First, the new method. vis-a-vis existing methods, is applicable to high-tech areas, rather than traditional manufacturing sectors. Second. the proposed method analyzes the structural relationship between market value(value of market) and technology value(value of technology) and integrates them into valuation process. Third, the new method takes idiosyncratic characteristics of various industrial(technical) sectors into account.