• Proceedings of the Korean Operations and Management Science Society Conference
• /
• 2003.05a
• /
• pp.612-619
• /
• 2003

실물옵션은 전통적인 경제성 평가기준의 하나인 순현재가치 분석법이 의사결정 과정에서 경영의 유연성을 무시함으로써 투자 혹은 자산의 가치를 낮게 평가하는 단점을 제거하고 이를 평가에 적절히 포함시킬 수 있다고 여겨지고 있어 새로운 평가방법으로 주목을 받고 있다. 특히, 정보기술(IT) 분야에서는 다음과 같은 이유 때문에 전통적인 현금흐름할인 방법이 효과적이지 못할 수 있다. (1) 우선, 정보통신 분야에서 대부분의 정보기술 기반 투자 프로젝트는 막대한 자본이 소요되기 때문에 기업들은 이를 피하기 위하여 단계적인 투자계획을 세우는 경우가 많다. (2) 또한, 초기 기반에 대한 투자의 주요한 혜택이 대부분 그 이후 단계의 투자에서 구현되기 때문에 성급한 초기투자에 대한 경제성 평가는 이후의 혜택을 무시할 가능성이 많아진다. (3) 마지막으로 초기의 투자 프로젝트에 참여하지 못하면, 이 후의 프로젝트에 참여하기 어렵기 때문에 미래의 혜택을 얻을 수 없게 된다. 이러한 여러 가지 이유로 이를 적절히 평가할 수 있는 실물옵션 평가방법이 선호된다. 본 연구에서는 정보통신 분야의 투자와 같은 대규모 프로젝트의 특징을 평가방법의 입장에서 살펴보고, 실물옵션 개념을 응용하여 이러한 투자 형태의 평가를 위한 모델을 개발하고 적용방법을 생각해본다.

• The Korean Journal of Financial Management
• /
• v.24 no.1
• /
• pp.29-58
• /
• 2007

We develop a model to estimate the value of growth opportunities, which is based on the seminal papers of M&M(1961, 1963) and Lee(2006). Making use of the estimation model, we estimate a new proxy variable of the growth opportunities, other than the usual proxy variables such as quasi Tobin's Q, MBR, and so on. The new proxy variable of growth opportunities can represent a necessary condition to identify whether the increase in new investments are successful or not. The empirical findings on the growth opportunities during the IMF currency crisis period and the post-IMF period are as follows; First, the overall success rate of new investments is as low as 50%, that means only half of the listed firms were increasing new investments when they had the growth opportunities. Second, during the crisis, one third of the listed firms were experiencing negative growth opportunities. However, during the post-IMF period, the growth opportunities on new investments were turned to be positive due to the turnaround efforts of listed firms. Third, the value of intangible assets, which are resulting from the investment of R&D and human capital, are becoming more important than ever. It seems to be true that larger portions of the value of growth opportunities are coming from the intangible assets, not from the increases in new investments of the physical assets.

• Information Systems Review
• /
• v.16 no.3
• /
• pp.215-242
• /
• 2014

This paper investigates accounting principles about social infrastructure on Korean National Accounting Standard and on National Accounting Standards from other countries that adopted a accruals- based national accounting standards. Social infrastructure as assets has important value in financial statements of Korea and deterioration or insufficient management of social infrastructure accompanies a huge social cost. Therefore, understanding the characteristics and related accounting standard for social infrastructure is necessary. To do this, we examine the accounting standards of U.S., New Zealand, and Australia. We also review the financial statement of local government. Based on these findings, this paper suggests that a preventive-asset management approach should be applied and alternative depreciation method for social infrastructures is developed. Moreover, a local government needs to provide important accounting information to the public in a timely and reliably manner.

• The Journal of the Korea Contents Association
• /
• v.19 no.6
• /
• pp.359-367
• /
• 2019

As a strategy for strengthening local competitiveness, efficient use of regional assets is becoming more and more important. The key to regional identity and competitiveness is local assets. The purpose of this study is to derive the priority region for development by evaluating local assets. The analysis methods used in this study are Geographic Information System analysis, Big Data Trend analysis, and Analytic Hierarchy Process analysis. To assess the potential of local assets, the preference of assets, historical value, cluster of resources, wide-area transport accessibility, and population density were set as analysis indicators and itemized weights were applied using AHP to reflect the importance of each item. As a result of analyzing Yeongju city in Gyeongsangbuk-do, eight major points such as Buseoksa Temple, Sosu Seowon, Huibangsa Temple, Punggi Hot Spring Resort, Punggi Station, National Center for Forest Therapy, Yeongju east region and Museom Village were derived.

• 한국정보통신설비학회:학술대회논문집
• /
• 2008.08a
• /
• pp.540-544
• /
• 2008

인프라시설은 한번 설치하면 오랜 기간동안 사용해야 하는 시설로서 설치단계에서부터 가치에 기반하여 최적으로 구축하는 것이 무엇보다도 중요하다. 지금까지 설치된 인프라시설은 초기 투자비용만 고려되었을 뿐, 생애주기비용(LCC)과 성능이 고려되지 않아 효율적인 유지관리와 제대로된 자산관리를 하지 못하고 있는 것이 현실이다. 하지만, 앞으로의 시설 구축 개념은 최저 비용 개념에서 최고 가치 개념으로 변해가고 있으며, 정부에서도 100억원 이상의 건설공사에 LCC 및 VE 검토를 의무화 하고 있는 상황으로, 인프라시설 구축 시에도 VE 대안평가가 필요하다는 의견이 많이 대두되고 있다. 따라서, 본 논문에서는 인프라시설 중 하나인 통신전주를 대상으로 VE 대안평가를 실시하여 향후 설치될 통신 전주에 대한 의사결정 가이드라인을 제시하고, 이를 체계적으로 지원할 수 있는 인프라시설 VE 평가시스템에 대한 내용도 함께 소개하여 인프라시설에 적용 가능한 VE 대안평가 기법의 초석을 마련하고자 한다.

• Proceedings of the Korea Technology Innovation Society Conference
• /
• 2016.10a
• /
• pp.131-138
• /
• 2016

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.32 no.2D
• /
• pp.147-157
• /
• 2012

Recent studies on development of level of service (LoS) for separated sewer pipe have simply shown high-level of LoS from the perspective of users and financial/social/economical factors, which results in poor connectivity to real maintenance work. The objective of this study is to develope the evaluation indicators of level of service in the manner of function by analyzing the separated sewer pipes with FAST, function analysis systems technique, used in value engineering. The evaluation indicators suggested in this study include all the functions of separated sewer pipes and show an advantage of focused function maintenance. Moreover, developed indicators help to manage archival history and to perform asset management effectively.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• autumn
• /
• pp.333-336
• /
• 2001

The future industry, intangible assets, like expertise, customer satisfaction, and employee's volition and capability, create more company value than any other components. The company's outcome mostly depends on managing these intangible knowledge assets. Construction industry is trying to adapt knowledge management system to manage their knowledge assets, but Hey do not build up knowledge assets definition and knowledge assets classification as much as other industries do. Most researches related knowledge assets classification are not concentrated on construction industry so it is need to define knowledge assets and establish knowledge assets classification of construction based on construction characteristics and informations. With this research result, construction knowledge assets classification can be the basis of knowledge asscts evaluation and knowledge map for knowledge management system.

• Journal of Digital Convergence
• /
• v.16 no.12
• /
• pp.163-173
• /
• 2018

This study examined the difference between the information asymmetry in pre- and post K-IFRS adoption used each samples. Efficient market assumption suggests that capital markets already have recognized real value of PP&E and applied those values for estimating the item, in which case PP&E revaluation is not additional information in the capital market but simply an activity to makes costs. This study examined whether the information asymmetry had reduced significantly after adopting K-IFRS or not, verified each period samples those are pre- and post-adopting the asset revaluation since it could have been adopted in advance from 2008. As study results, I confirmed PP&E revaluation affected to reduce the information asymmetry in pre- adopting K-IFRS, but not in post- adopting K-IFRS. These results could be one of proofs which are supported that capital market have been judging PP&E revaluation as the window dressing.

• The Journal of the Korea Contents Association
• /
• v.21 no.8
• /
• pp.442-454
• /
• 2021

Many domestic and international airlines that experienced dramatic recession due to COVID-19 pandemic are carefully being ready to normalise operations as a number of governments has begun to vaccinate for COVID-19. So with the same market share from domestic to short distant international services, the competition between Full Service Carriers (FSC) and low cost carriers (LCC) is anticipated to be more intensive. To explore the concepts such as the perception, value, attitude and faith of the object, this study implements Q methodology proposed to complement the limitations of quantitative and qualitative research methodology. As a result, the consumers of airlines' brand are divided into three types - the type of utility seeking, value-oriented and task-related. Using Q samples which consist of 25 statements, this study specifically approached the traits of each type by observing the subjectivity with the comparative P sample group that is made up for 20 participants. By discovering the type of FSC and LCC's brand asset and comparing the recognition of consumers, not only does this study evoke the need for a strategic direction of the effective management of Airlines' Brand asset but also have a signification in the way that especially provide hypotheses for follow up studies.