• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.8 no.5
• /
• pp.1259-1265
• /
• 2007

In order to accelerate the development of the Film Industry of Korea it is quite necessary to evaluate the value of Film Production Company appropriately and then to activate investment through its work of estimating. So far however, the researches on the evaluation model for Korean Film Production Company has been rarely conducted considering those of any other advanced countries. Therefore, the appropriate valuation model among numerous valuation model for film firms has not been provided until now. So the purpose of this article is to suggest the rational decision making criteria for the investment of Film Production Company by comparing with DCF, FCF, and ROV model through the empirical research focused on case study. According to the results of research, ROV model is more efficient and available comparing other two methods.

• Journal of Korea Port Economic Association
• /
• v.28 no.3
• /
• pp.235-257
• /
• 2012

Recently the role of ports has been changed to satisfy flexibly needs of demands in global economy. A new concept for ports is not just a place for international trade but an important nodal point in logistics chain. The changing environment like this trend creates a high degree of uncertainty and leaves port managers confused with the question how to respond effectively to dynamic market. The latest studies provide that the port must have a good hinterland to achieve competitive advantages in a logistics chain. Korean Government announced "The Master Development Plan for Port Logistics Parks in Korea" in 2006. This contains the plan of hinterland construction of Busan New Port to achieve the status of logistics hub in Asian market. Previous studies rely solely on traditional DCF(discounted cash flow) analysis for investment of hinterland. However DCF method does not include irreversibility, uncertainty and the choice of timing for investment project. This thesis introduces a ROPM(real options pricing model) which overcomes the limitations of traditional valuation methods. The option valuations in this study utilize the Black-Scholes model, the binomial model and the MonteCarlo simulation to value investment opportunity of a port hinterland. In this thesis, an attempt is made to modify the NPV criterion by incorporating the real options approach, and its application is demonstrated in a hinterland construction investment plan. This research has conducted an empirical analysis by calculating economic value of the investment for a hinterland of Busan New Port.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.4 no.3
• /
• pp.289-295
• /
• 2003

In this paper, the option valuation of venture business was calculated by utilizing growth option model, chosen from real option valuation method. The evaluation of venture business was estimated by adding option value to the terminal value discounted from cashflow method. As the result of the empirical analysis, ROV model applied in the Study is more reliable Han the DCF model concerning the pricing of venture business. Unlike the previous study of Schartz & Moon which only analyzed one venture business, this study estimated and analyzed the rational pricing of venture business with comparative methods using various parameters of sampling 99 domestic venture businesses.

• Journal of the Korea Institute of Information and Communication Engineering
• /
• v.19 no.6
• /
• pp.1333-1340
• /
• 2015

IEEE 802.11 MAC(Media Access Control) defines DCF(Distributed Coordination Function) for data transmission control. BEB(Binary Exponential Backoff) algorithm of DCF has a problem that if the number of stations connected are over a certain threshold, it degrades network performance because of packet collisions caused from the minimum contention window size. To cope with this problem, we proposed a novel algorithm, named as VBS(Variable Backoff Stage) algorithm, which adjusts the rate of backoff stage increment depending on the number of stations associated with an AP(Access Point). Analytic model of proposed algorithm was derived and simulations on the BEB and the VBS algorithms have been conducted on the OFDM (Orthogonal Frequency Division Multiplexing) method. Simulation results showed that when the rate of backoff state increment was 5 and 10, the number of retransmission were reduced to 1/5 and 1/10 comparing to that of BEB, respectively. Our algorithm showed improvement of 19% and 18% in network utilization, respectively. Packet delay was reduced into 1/12.

• Journal of Internet Computing and Services
• /
• v.10 no.1
• /
• pp.51-61
• /
• 2009

This paper analyzes the throughput of DCF protocol at the MAC layer in the 802.11a wireless LAN. The throughput of DCF protocol is related on probability of backoff, depends on retransmission of each terminal. This paper applied to nonmarcov discrete model for each terminal BER in the base station versus the packet throughput is progressing with the data rate of 6,12,24,54 Mbps, We find the fact that the less the data rate be the higher the throughput. We also find from the throughput calculation by means of traffic intensity in OFDM wireless LAN.

• The Journal of the Institute of Internet, Broadcasting and Communication
• /
• v.8 no.4
• /
• pp.35-42
• /
• 2008

Since Bianchi's 2-D Markov Chain Model considers collision problem only in ideal channel condition, it does not reflect real channel impaired by fading, interference, and noise. Distributed Coordination Function(DCF) doubles its contention window(CW) when transmission fails regardless of collision or transmission error. Increase of CW caused by transmission error degrade throughput and increase the delay. In this paper, we present quantitative analysis of the impact of the parameters such as contention window size(CW), transmission probability for a given time slot(${\Im}$), transmission failure probability($p_f$), on the system performance and provide a method how to decrease the initial CW to achieve equivalent performance.

• Journal of Digital Convergence
• /
• v.10 no.7
• /
• pp.11-22
• /
• 2012

Intangible assets are the important tool which decides upon economic wealth and development of knowledge-information economy. We have to make effective use of intangible assets in order to assure surplus earnings, competitive superiority. The importance of intangible assets, especially patent right, may be properly understood only when their values are assessed adequately. It is very significant to appraise rationally patent right value from finance support, technology transaction, investment decision, M&A, legal proceedings, strategy and etc. Thus the purpose of this study is to evaluate the economic value of a patent right using DCF(Discounted-Cash Flow Method). This paper presents the basic model, related principles and standards of valuation, and then, case analysis of patent right valuation using DCF.

• Proceedings of the Korean Operations and Management Science Society Conference
• /
• 2006.11a
• /
• pp.307-311
• /
• 2006

Distributed Coordination Function (DCF) in IEEE 802.11 and Enhanced Distributed Channel Access (EDCA) in IEEE 802.11e are contention-based access mechanism in Wireless LAN. Both DCF and EDCA reduce collisions based on inter-frame space (IFS) and backoff mechanisms. However, collisions are unavoidable even with the two mechanisms. Especially, in the EDCA model, the collision can be classified into interclass and intraclass collision. To eliminate interclass collision in Wireless LAN, we propose an interclass collision protection (ICP) scheme by employing contention protection period (CPP) after backoff, Analysis is performed for one dimensional EDCA model and for the proposed ICP based EDCA model.

• Korean Journal of Organic Agriculture
• /
• v.20 no.4
• /
• pp.543-561
• /
• 2012

This work is for reasonable valuation method of environmental-friendly and organic company. Reasonable valuation method is principal for the sound development, the reasonable investment and the growth of stock market. This study proposes valid valuation and method for environmental-friendly and organic company. The author selected 4 companies from certificate list of environmental-friendly and organic food and LOHAS (Lifestyles Of Health And Sustainability) food of Korean standards association. Applying financial audit report of 5 years, the author output 5 variables from each companies by using Growth Option model of Real Option model. And the author valuated companies by adding option value calculated with these variables and residual value discounted with cash flow discounted method. Company values from ROV model were 1.71 time higher than DCF model. This results show that the value of environmental-friendly and organic food company may own high option premium, that is the growth factor.

• Proceedings of the IEEK Conference
• /
• 2006.06a
• /
• pp.61-62
• /
• 2006

In this paper, using Bianchi's model with channel idle probability we analyze performance of power management scheme of IEEE 802.11 DCF according to ATIM window size and number of nodes for wireless ad hoc networks. The analytical results show that, when the number of nodes is given, the selected ATIM window size limits the performance.