• Title/Summary/Keyword: Income prediction

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A Study on Web-based Technology Valuation System (웹기반 지능형 기술가치평가 시스템에 관한 연구)

  • Sung, Tae-Eung;Jun, Seung-Pyo;Kim, Sang-Gook;Park, Hyun-Woo
    • Journal of Intelligence and Information Systems
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    • v.23 no.1
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    • pp.23-46
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    • 2017
  • Although there have been cases of evaluating the value of specific companies or projects which have centralized on developed countries in North America and Europe from the early 2000s, the system and methodology for estimating the economic value of individual technologies or patents has been activated on and on. Of course, there exist several online systems that qualitatively evaluate the technology's grade or the patent rating of the technology to be evaluated, as in 'KTRS' of the KIBO and 'SMART 3.1' of the Korea Invention Promotion Association. However, a web-based technology valuation system, referred to as 'STAR-Value system' that calculates the quantitative values of the subject technology for various purposes such as business feasibility analysis, investment attraction, tax/litigation, etc., has been officially opened and recently spreading. In this study, we introduce the type of methodology and evaluation model, reference information supporting these theories, and how database associated are utilized, focusing various modules and frameworks embedded in STAR-Value system. In particular, there are six valuation methods, including the discounted cash flow method (DCF), which is a representative one based on the income approach that anticipates future economic income to be valued at present, and the relief-from-royalty method, which calculates the present value of royalties' where we consider the contribution of the subject technology towards the business value created as the royalty rate. We look at how models and related support information (technology life, corporate (business) financial information, discount rate, industrial technology factors, etc.) can be used and linked in a intelligent manner. Based on the classification of information such as International Patent Classification (IPC) or Korea Standard Industry Classification (KSIC) for technology to be evaluated, the STAR-Value system automatically returns meta data such as technology cycle time (TCT), sales growth rate and profitability data of similar company or industry sector, weighted average cost of capital (WACC), indices of industrial technology factors, etc., and apply adjustment factors to them, so that the result of technology value calculation has high reliability and objectivity. Furthermore, if the information on the potential market size of the target technology and the market share of the commercialization subject refers to data-driven information, or if the estimated value range of similar technologies by industry sector is provided from the evaluation cases which are already completed and accumulated in database, the STAR-Value is anticipated that it will enable to present highly accurate value range in real time by intelligently linking various support modules. Including the explanation of the various valuation models and relevant primary variables as presented in this paper, the STAR-Value system intends to utilize more systematically and in a data-driven way by supporting the optimal model selection guideline module, intelligent technology value range reasoning module, and similar company selection based market share prediction module, etc. In addition, the research on the development and intelligence of the web-based STAR-Value system is significant in that it widely spread the web-based system that can be used in the validation and application to practices of the theoretical feasibility of the technology valuation field, and it is expected that it could be utilized in various fields of technology commercialization.

Change Prediction of Forestland Area in South Korea using Multinomial Logistic Regression Model (다항 로지스틱 회귀모형을 이용한 우리나라 산지면적 변화 추정에 관한 연구)

  • KWAK, Doo-Ahn
    • Journal of the Korean Association of Geographic Information Studies
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    • v.23 no.4
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    • pp.42-51
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    • 2020
  • This study was performed to support the 6th forest basic planning by Korea Forest Service as predicting the change of forestland area by the transition of land use type in the future over 35 years in South Korea. It is very important to analyze upcoming forestland area change for future forest planning because forestland plays a basic role to predict forest resources change for afforestation, production and management in the future. Therefore, the transitional interaction between land use types in future of South Korea was predicted in this study using econometrical models based on past trend data of land use type and related variables. The econometrical model based on maximum discounted profits theory for land use type determination was used to estimate total quantitative change by forestland, agricultural land and urban area at national scale using explanatory variables such as forestry value added, agricultural income and population during over 46 years. In result, it was analyzed that forestland area would decrease continuously at approximately 29,000 ha by 2027 while urban area increases in South Korea. However, it was predicted that the forestland area would be started to increase gradually at 170,000 ha by 2050 because urban area was reduced according to population decrement from 2032 in South Korea. We could find out that the increment of forestland would be attributed to social problems such as urban hollowing and localities extinction phenomenon by steep decrement of population from 2032. The decrement and increment of forestland by unbalanced population immigration to major cities and migration to localities might cause many social and economic problems against national sustainable development, so that future strategies and policies for forestland should be established considering such future change trends of land use type for balanced development and reasonable forestland use and conservation.