• Korea Journal of Hospital Management
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• v.11 no.3
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• pp.1-18
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• 2006

The purpose of this study is to analyze the relationship between intangible asset items and company value by empirical research in the medical industry, which may enhance usefulness of the results of other empirical research on intangible asset and company value. In order to attain the purpose of this study, the stock price is taken as the independent variable and all of intangible asset items reported to a balance sheet except the development expenditures and other development expenditures, and advertisement expenses, ordinary research & development expenditures reported on the income statement are taken as the dependent variables. In the following, I carried out four meaningful results from the analysis. First, research hypothesis 1; Book value of intangible asset reported in balance sheet bears positive relationship with company value shows that development expenditures 1 variable gives positive association in a significant level while a group of \10,000-above-company shows no relationship with company value, the other group of below-\10,000-company supports a consistently significant association. All this considering, we have to keep in mind that lack of prudence may leads to wrong results when we try to analyze. Second, research hypothesis 2; Intangible asset and other intangible asset expenditures reported on the income statement gives positive effect on company value shows that R&D accounts variables give insignificance in a statistical level to all company, including entire group, \10,000-above and below consistently. These results testify that current accounting system is valid. Third, in the case of other intangible asset, it requires further examination of current KAS because statistical results show negatively significant value or insignificant value in a statistical level. That means the more intangible assets, the less company value or nothing. Last, in the case of advertisement expenditure variables of above-\10,000 and entire company shows insignificances in a statistical level consistently while below-\10,000-company shows significant result coherently. We should regard accounting information on the advertisement expenditures of \10,000-below-company with caution. The results of this study provide controversial points whether intangible asset items reported on B/S, excluding development expenditures, should be regarded as asset. To facilitate the utility of accounting information on intangible asset, it seems necessary to regard advertisement expenditures reported on I/S as asset accounts. There are further arguments on the way of dealing with intangible asset under KAS that might be considered.

• Korean Business Review
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• v.20 no.2
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• pp.147-171
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• 2007

Traditionally intangible assets have been neglected in measuring management performance in the area of business. However as knowledge based times is coming, the importance of intangible assets have been evermore attentive then before. The purpose of the study is to explore the relationship between management performance and intangible assets of resort condominium in Korea. This paper categorizes intangible assets into customer relations asset, cooperative business partner asset, and service operations competence based asset and find relationship between these assets with management performance.

• Journal of Cadastre & Land InformatiX
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• v.45 no.1
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• pp.207-224
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• 2015

The purpose of this study is to review the various valuation techniques of intangible assets. The value of intangible asset by the income approach can be measured as the present value of the economic benefit over the intangible asset's remaining useful life. The typical methods used in intangible asset economic income projections include extrapolation method, life cycle analyses, sensitivity analyses, simulation analyses, judgment method, and tabula rasa method. There are several methods available for estimating capitalization rates and discount rates for intangible asset, in which we have discussed market extraction method, capital asset pricing model, built-up method, discounted cash flow model, and weighted average cost of capital method. As the capitalization methods for intangible asset, relief-from-royalty method, excess earnings capitalization method, profit split method, residual from business enterprise method, postulated loss of income method and so on have been reviewed.

• The Journal of Information Systems
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• v.17 no.4
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• pp.341-367
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• 2008

This study propose a model relating supplier's use of IOIS(Inter-Organizational Information Systems) to strategic benefits through extension of Subramani's research model. In extended model, collaboration serves as a safeguard for relationship-specific intangible asset. Specifically, we evaluate how two patterns of IOIS use by supplier(exploitation and exploration) relate to two specific types of relationship-specific intangible asset(business process specificity and domain knowledge specificity), which in turn are posited to promote collaboration and strategic benefits. To explore the current study, questionnaire survey was conducted on 72 first-tier supplier firms in the manufacturing industry. Based on the survey results, we posits the following : (1) Each pattern of IOIS use directly promotes a specific type of relationship-specific intangible asset. The path of the relationship between IOIS use for exploitation and domain knowledge specificity is positive but not significant. The other paths are positive and significant. (2) Both types of relationship-specific intangible asset have a positive and significant impact on collaboration. (3) Domain knowledge specificity influences on strategic benefits but business process specificity does not have an effect on them. (4) Collaboration affects supplier's strategic benefits. These findings provide a deeper understanding of the mechanism of how the pattern of IOIS use can result in strategic benefits for supplier firms.

• Knowledge Management Research
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• v.10 no.3
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• pp.35-49
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• 2009

The purpose of this study is to examine whether suppliers are able to benefit by means of constructing a relationship-specific intangible asset and participating in collaboration with purchasers to actively maintain value created while mutually using inter-organizational information systems. To achieve the purpose of this study. 82 questionnaires have been analyzed from suppliers which are using electronic transactions through inter-organizational information systems. As a result, business process specificity and domain knowledge specificity, which are relationship-specific intangible assets, affect operational collaboration and strategic collaboration, which are classified by level of decision-making. Although both types of collaboration are needed to achieve both strategic and operational benefits, we find each collaboration to be uniquely promoted by a specific types of relationship-specific intangible asset. Operational collaboration is found to be an antecedent to operational benefit and strategic collaboration is found to be an antecedent to strategic benefits. No crossover between collaboration and supplier's benefits is found. Consequently, the result of this study shows collaboration is needed for domestic suppliers, which have relatively low levels of collaboration, to keep maintain relationship-specific intangible assets and to prevent the relationship termination cost when transactions have been stopped between supplier and purchaser. Also the results imply the supplier can have advantages by participating in collaboration.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.11-22
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• 2022

The iron and steel sector is caught between two worlds: "carbon reduction" and "development." The goal of this study is to show that optimizing asset structure to boost intangible assets, particularly brand assets, is a viable strategy to achieve low-carbon development. This study uses panel data from 38 A-share companies in China's iron and steel industry from 2010 to 2020, as well as World Brand Lab data, to create a comprehensive impact index of enterprise value from the standpoint of an asset structure optimization, and to test the impact of intangible assets and brand equity on enterprise value. The findings show that: the asset structure of iron and steel enterprises is closely related to enterprise value, implying that iron and steel industry development necessitates a transformation of quantity control and quality improvement; the proportion of intangible assets in the asset structure of iron and steel enterprises plays a positive and critical role in enterprise value under surplus conditions. The iron and steel industry begins to shift from tangible to intangible assets; there is heterogeneity in the iron and steel industry transformation. Given certain technological levels, the share of brand assets contributes significantly to the increase in enterprise value.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.2
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• pp.757-769
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• 2013

Intangible assets for construction engineering consulting firms are very important for their valuation, because engineering consulting is typical knowledge-based business which creates value based on technical expertise and human resources. This paper presents the intangible asset classification model based on the concept of value creation in construction engineering consulting firm and proposes intangible asset valuation methodology using System Dynamics and survey data. Utilization of the valuation methodology presented in this paper would increase the public awareness of intangible assets in construction engineering consulting firm and, thus, contribute to the growth of the engineering consulting industry by realistic and accurate valuation of intangible assets.

• Korean Journal of Construction Engineering and Management
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• v.3 no.3 s.11
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• pp.94-102
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• 2002

It expresses well result measurement system's the importance that 'It can not manage that can not measure.' In this way, there is no expressivity that express difficulty. While Corporation's tangible asset is possible measuring by specific amount of money of financial statement or loss and gain statement etc, Method of corporation's intangible asset measurement is much had been introduced, but some one is not presenting objective frame. This research did size of construction corporation's intangible Asset(Intellectual Asset) through knowledge asset storing accumulation model(XYZ model) that present in LG economy research institute so that do quantification objectively. Through this, can presume construction corporation's intrinsic value level.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.876-882
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• 2009

With overall opening of global construction market by World Trade Organization (WTO) agreements, importance of management efficiency of construction industry which considers both tangible and intangible assets is recently being recognized in our nation. That is, efforts for reinforcement of competitiveness must be placed through maximization of values of internal and external intangible assets of construction industry such as management innovation, information, investment in technology and R&D and intellectual property. Accordingly in this study, evaluation criteria for intangible assets of construction industry were investigated and classified. Using such criteria, evaluation index and model were established based on the degree of importance of each criterion. The purpose of this study is to review importance of intangible assets in terms of competitiveness and management efficiency of construction industry and to provide basic data for establishment of intangible assets and revitalization of investment.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.43 no.1
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• pp.79-86
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• 2020

The effects of R&D investment on innovation such as patents and intangible assets, and the effect on the corporate performance such as revenue and profit growth, were analyzed using path analysis. In particular, this study compared and analyzed the performances of non-cooperative R&D and cooperative R&D. The results of this study are summarized as follows. First, R&D investment has a significant impact on innovation performance. This supports the existing research results. Second, patents have a significant impact on intangible asset growth. Third, in the case of corporate groups carrying out cooperative R&D, intangible asset growth forms a significant causal relationship with revenue growth. Fourth, in case of cooperative R&D, intangible asset growth has a significant mediating effect between patent and revenue growth. Like the existing research, the results of this research support the innovation performance of R&D investment. It also supports the existing argument that the results of cooperative R&D are more favorable to increase corporate value. However, unlike the existing research, we found a path leading to increased revenue through patents and intangible assets, and confirmed that such a path is likely to be achieved through cooperative R & D rather than internal R&D.