• The Journal of the Korea Contents Association
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• v.16 no.11
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• pp.421-433
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• 2016

Recently, although the interest in transfer and transactions of intangible assets increases, there is no valuation model to objectively assess market value of knowledge and information contents such as electronic databases and the necessity of researches associated is brought up. Therefore, the present study proposes valuation models so as to utilize as objective reference information in the contents market of intangible assets, by assessing the market value of science and technology information contents including patents, academic papers and reports. First, we look into application methods of calculating cash flows by content types out of key variables which has been applied to the present technology valuation, and in case of patents we propose valuation methods based on concepts which are applied in the present technology valuation. Next, in case of both papers and reports, in order to reflect the characteristics of these contents we newly propose qualitative valuation methods which are adjustable based on both technology innovation and market demands indices while estimating the economic life cycle of the technology, and also present the input cost-based calculation method as the calculation method of cash flows. Throughout the study, we could establish frameworks by technology fields and business models applicable such as copyright licensing, transactions of individual science and technology information contents, and expect that more objective and reasonable assessment of content values is accessible.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.11
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• pp.157-165
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• 2018

Companies conduct R&D for continuous development and enhancement of corporate value, and obtain patents as an intangible asset resulting from this process. This study screened 103 medical device firms whose R&D information, patent information, and management performance information were all published to determine how R&D activities and patents affect corporate operational performance. The number of patents, R&D costs, company type and Inno-Biz of the company were set as independent variables, and the companies' sales, intangible assets, operating profit ratios, net profit margins, corporate ratings and profit-related financial ratios were used as dependent variables. The results confirmed that R&D expenditure had negative (-) effects on most indicators, including sales volume, operating profit ratio, and net profit ratio, while it had positive (+) [ED highlight - these are unnecessary if negative and positive are also written out.] effects only on intangible assets. Additionally, domestic patents were found to have negative (-) effects on sales, cash flow ratings, and dropped capital return, and positive (+) effects on net profit growth. Moreover, the business performance variables affected by the company characteristics were sales volume and cash flow ratings. The medical device industry is dominated by small and medium-sized businesses Although research and development activities and patents have been shown to have a negative impact on corporate management in the short term, they are expected to have a positive long-term impact when reflecting the characteristics of the medical device industry that must undergo clinical trials and authorization procedures after R&D.

• Journal of Korean Institute of Industrial Engineers
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• v.33 no.1
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• pp.99-109
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• 2007

To realize process-driven management, so many companies have been launching business process managementsystems. Business process is collection of standardized and structured tasks inducing value creation of acompany. Moreover, it is recognized as one of significant intangible business assets to achieve competitiveadvantages. This research introduces a novel approach of workflow process analysis, which has more and moresignificance as process-aware information systems are spreading widely into a lot of companies, In this paper, amethodology of workflow clustering based on process similarity has been proposed. The purpose of workflowclustering is to analyze accumulated process definitions in order to assist design of new processes andimprovement of existing ones. The proposed methodology exploits measures of structural similarity of workflowprocesses.The methodology has been experimented with synthetic process models for illustrating the implicationofworkflow clustering.

• Journal of the Korea Furniture Society
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• v.21 no.4
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• pp.293-303
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• 2010

With changing systems of wealth creation around the 21st century, crafts(traditional and industrial crafts) are affected by the trend of changes or lead the trend, that is to say, a turning point of paradigm has come. Values of crafts give the value of users, and the tradition and modern coexists in the trend of times changing from the tradition to the modern so crafts artists’ works are diversified and used in design industries. Based on a place of expression showing various beauty of crafts, identity of design is established through ‘Craft Consilience’ of intangible cultural assets, master craftsman, crafts artists, crafts industries, and crafts departments. As master craftsman and furniture designers meet together to mix master craftsman’s idea with designers’ idea, the new Korean crafts furniture is suggested.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1030-1035
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• 2009

The value of intangible assets of a company attracts attention in enterprise management environment drastically changing. Following such a trend, many companies have adopted knowledge management. Especially in construction industry of which success of a project is easily affected by the capacity of various participants and work performers, we may find many cases to which the knowledge managements have been adopted. However, the domestic design companies have tended to be late to introduce the knowledge management or have difficulty in effective use of KMS already constructed. This study suggests KMS based on BPM (Business Process Management) and drives its effects to improve problems mentioned above. We drives the expected effects by studying the existing studies and surveying domestic design companies and suggests Prototype for introducing a real system.

• Journal of Korea Society of Digital Industry and Information Management
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• v.8 no.2
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• pp.199-211
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• 2012

There have been studies to evaluate valuation of firms by using patents in various ways. Also, the theory that value of patents helps enterprise's growth is valid in economics. However, when evaluating the value of the company, through the patent evaluation has not been used. Because of previous studies researched relation between patents and firms only at certain points. To solve this problem, this study intends to analyze lag between patent and profitability of the firms. In this study, we classified top 100 software firms in the United States through PBR, PER and value of intangible assets by using cluster analysis. And we applied Almon's distributed lag model to each cluster to find out lag between patent and profitability of the firms. As a result, in the cluster of more valuable companies, patents have an effect on profitability of the firms at regular lags. This study indicates that the patents are an important indicator to assess companies.

• The Journal of Economics, Marketing and Management
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• v.4 no.4
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• pp.1-16
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• 2016

In today's knowledge-based economy, measurement and disclosure (M&D) of intellectual capital (IC) are crucial for enhancing business performance and competitiveness. In the global world, M&D of IC are useful means to keep investors well-informed and reduce information asymmetry. At present, very few leading corporations in India have disclosed IC information on a 'voluntary' basis. Traditional accounting practices, therefore, will need to assimilate innovations that seek to meaningfully represent the 'true-value' of the intangible assets of the company. This is an exploratory study of IC M&D by 8 Indian companies over 5-year period, using 'content' analysis and market-value-added (MVA) as research methodologies. The annual reports of companies were collected from their respective websites. As part of present study, various statistical techniques have been used to analyze the data. The findings show that the sample companies, on an average, reported a positive value of IC, along with wide-disparity, low-level of ICD. Unfortunately, the omission of IC information may adversely influence the quality of decisions made by shareholders, or lead to material misstatements. Finally, we recommend to "the international accounting bodies, to take the lead by establishing a harmonized ICD standard, and provide guidance to the big listed-companies for proper measurement and disclosure of IC, both for internal and external users."

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.3
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• pp.1770-1777
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• 2014

Coastal settlements have a diversity of tangible or intangible local assets and are environmentally sensitive areas. The value of tangible or intangible local assets is often overlooked and there is no enough consideration for the inhabitants who have a various and acute stake in the development process of coastal settlements. The development of coastal settlements without consideration for the local circumstance, resident's needs, and local characteristics makes it difficult to achieve sustainable regeneration. There are also alienation, conflicts, and the loss of a authentic sense of place because of physical oriented development without regard to the social, economic, and cultural aspects. This research defines the components and types of coastal settlements and draws the characteristics of them around the fishery ports in Busan in the aspect of sustainable regeneration. It will be the important methods for an integrated regeneration including not only spatial and physical regeneration but also social and economic regeneration which has the preservation of local culture with living conditions, local economy activation, and community building. It will also provides the bases of sustainable development, attractiveness, and competitiveness of coastal settlements.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.231-237
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• 2022

Intellectual Capital, a valuable intangible organizational asset, is primarily linked to a company's financial performance and is divided into three categories: human, structural, and relational capital. This paper investigates the impact of intellectual capital on the financial performance of selected Pakistani companies in the Information and Communication sector, as this sector is heavily reliant on intellectual capital. The data for 11 firms was gathered from the State Bank's Financial Statements Analysis of Companies Listed on the Pakistan Stock Exchange from 2015 to 2020. Pulić's (2004) Value Added Intellectual Coefficient (VAICTM) has been used to assess a company's IC efficiency. VAIC^TM and its components, the efficiency of intellectual capital, and the efficiency of capital employed are calculated. Financial performance is measured through return on assets, return on capital employed, and asset turnover ratio. Multiple regression, fixed-effect, and random-effect Panel Data estimation are used in the empirical study. The findings suggest that intellectual capital efficiency has a large impact on major profitability metrics, but little effect on company productivity. It can be inferred from the results that the companies must invest in advanced technology, the latest machinery, and well-equipped offices to improve financial performance and productivity and gain a competitive advantage.

• Journal of Distribution Science
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• v.17 no.1
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• pp.89-94
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• 2019

Purpose - In recent digital information society, the most important factor of to increase the firm value of the distribution company is not the activity to increase the sales through the general advertisement of the unspecified majority by purchasing the finished product, but to grasp the needs of the consumers and to develop a new distribution platform that connects producers and consumers directly through consumer-tailored advertisements centering on e-commerce. Therefore each company in the distribution industry is spending a lot on research and development investment to innovate the distribution technology and distribution system, and the research and development investment expenditures can affect firm value. The purpose of this study is to analyze the impact of research and development investment expenditures in the distribution industry on market value of the firm. Research design, data, and methodology - As a research method, the sample firms are those which are listed on korea stock exchange market from 2011 to 2017 and the research model is Ohlson(1995) model, which is a representative valuation model using accounting information. This study analyzes the effect of distribution company's research and development investment expenditures and advertising expenditures on market value of the firm Results - The results of empirical analysis show that research and development investment expenditures for developing new distribution technology and advertising expenditures for promoting sales in the distribution company are all positively related to the market value of firm. Therefore, in describing market value of the distribution company, it is shown that the research and development investment expenditures and advertising expenditures together with the net asset and net profit are the important accounting information that explains the market value of firm. This result show that investment expenditures on research and development for the innovation of distribution technology of distribution company creates intangible intellectual assets and increases market value of the firm. Conclusions - The result of this study shows that research and development investment expenditures for the new distribution technology as well as the spending for the advertisement in the future is a very important investment expenditures that can increase the market value of the distribution company.