• Journal of the Korean Data and Information Science Society
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• v.13 no.2
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• pp.45-53
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• 2002

A company's market value-added, which equals the excess of a company's market capitalization over it s book value, is used as one of the measures for intangible assets valuation in accounting literature. One problem with the approach is that the valuation results are affected by severe fluctuations in capital markets. In this paper, we propose an approach using the Kalman filter for intangible assets valuation. We apply this method to data of Korean electronic companies.

• Korean Journal of Organic Agriculture
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• v.13 no.2
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• pp.129-143
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• 2005

Attempting to make an economic valuation of semi-liquid manure raises various complex questions. These are the valuation under different farming conditions, cost-benefit analysis in connection with the investment requirements of different semi-liquid manure systems, different storage capacities, transportation distances and treatment procedures. In the following, there questions will be discussed : 1. What value do the different types of semi-liquid manure have under different farming conditions? 2. Which storage capacities are economically justified? 3. Under which conditions is the transport of semi-liquid manure over long distances profitable?

• Journal of Distribution Science
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• v.18 no.2
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• pp.99-108
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• 2020

Purpose: This paper investigated the relationship between market competition and firm valuation error. Furthermore, Additional analyses were made according to the quality of financial reports and the listed market. Through the process we confirm to the impact of competition on the capital market. The purpose of this study is to analyze the impact of competition on valuation errors. The preceding studies did not provide a consistent results of the effects of competing functions on the capital market. One view is that the competition could mitigate the information asymmetry, and the other is that monopolistic lessens the manager's involvement in financial reporting. This study is intended to expand the prior study by analyzing the impact of competition on the capital market and on the valuation of investors. Research design, data, and methodology: The analysis was conducted on 12,031 samples over 11 years from 2008 to 2018 using data from market in Korea. Here the valuation error was measured by the research methodology of Rhodes-Kropf, Robinson and Viswanathan (2005), and competition measured by Herfindahl-Hirschman Index multiplied by (-1), and Concentration Ratio by (-1). Results: We confirm that the positive relationship between competition and the valuation error. In addition, we also found that the positive relation between competition and valuation error was in cases of low discretionary accruals and the KOSDAQ market. This means that the net function of competition does not mitigate valuation errors. Conclusions. This study has the following contributions when compared to prior research. First, the relevance between the level of competition and the valuation of the entity was confirmed. The study by Haw, Hu and Lee (2015) suggested that monopolistic industry of analysts' forecast is more accurate due to lower the variability in earnings. This study magnified it to confirm that monopolistic lessen information uncertainty in valuation. Second, the study on valuation errors was expanded. While the study on the effect of valuation errors on the capital market is generally relatively active, it is different that competition degree has analyzed the effect on valuation errors amid the lack of research on the effect on valuation errors.

• Asian Journal of Innovation and Policy
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• v.3 no.2
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• pp.172-192
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• 2014

This study aims to analyze the valuation of technology firms in the stock market to answer how before-market entities should be valuated. This study analyzes 230 market reports of 2012 for technology firms in the KOSDAQ under several hypotheses. The results are as follows: 90% used the 3 multiples methods consisting of PER multiples with 80%, PBR multiples 8.7% and EBITDA multiples 1.7%. The average of PER multiples was 15 with the range of 6.9 to 83. That of PBR multiples is 2.27. Forecasting for cash flow is not applied over 4 years, but mainly 2-3 years. The accuracy of forecasting was 18.8%, 34.4% and 8% according to the different definitions. No differences were found in the accuracy of forecasting between valuation methods, between the industries having more intangible assets and the industries having less, and between startups and general companies and between ages and listed ages.

• Journal of the military operations research society of Korea
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• v.33 no.2
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• pp.75-86
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• 2007

This paper presents the overall valuation framework of the Army Tactical Command Information System(ATCIS) with its empirical data which is developed by the ROK Army in 2005 with its own R&D efforts over the past 10 years. The valuation with the appropriate methods is conducted through the full and relentless support of ROK Army HQs, defense agencies, and related firms. And the results include both qualitative and quantitative values of the ATCIS in perspectives of economic, technical, and defense strength effects. As a result, the development of ATCIS is valued over 1.7291 trillion Won which is over 6.55 times benefit and cost ratio comparing with other country's similar system. The worth of this paper includes the actual framework and methods to apply the valuation of other weapon systems and its preliminary research, defense offset valuation, performance evaluation and others.

• International Area Studies Review
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• v.12 no.2
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• pp.277-295
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• 2008

Insurable value agreed by the parties shall be presumed specified at the time of the accident. It is nevertheless provided that where agreed value considerably exceeds certain amount evaluated at the time of insured accident, the amount shall be insurable value. It casts doubt on what constitutes such an excess in valuation in marine insurance. Because of the relatively short periods and less volatile economies, maritime insurance, with the statutory insurance value, has deemed insurable value conclusive. In other ways, the provision of default rule substitutes the amount evaluated at the time of insured accident for statutory insurance value. However, over-valuation of agreed value determined by the comparison of statutory insurance value leads to non sequitur in valued policy. Maritime insurance, in the case of over-valuation of agreed value, construes certain amount evaluated at the time of insured accident as insurable value. Accordingly, beyond the application of statutory insurance value, the amount should be considered for over-valuation of agreed value.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2014.10a
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• pp.91-93
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• 2014

Philippine fisheries code of 1998 (Republic Act 8550), which is enacted to achieve food security by managing, conserving and protecting fishery resources, obliges local governments to designate no less than 15% of jurisdictional municipal water as fisheries resource protection zone. Accordingly, Marine Protected Areas (MPAs) are the most extensively established as fisheries management and conservation tool and over 1,500 MPAs are reported in the Philippines. But there has been debate on the pros and cons of implementing MPAs because of the positive and negative impacts on local communities and fishermen. A dichotomous-choice contingent-valuation survey was conducted in the two municipalities of Guimaras, Philippines to investigate public opinion in debates over MPAs and to estimate willingness to pay (WTP) for MPAs to protect and conserve marine habitats for fishery resources. For the benefits and costs of MPAs, 43.6% of respondents thought the costs would be larger than the benefit, but 91% respondents voted in favor of increasing MPAs for fisheries resources as a protective measure. Finally, the estimated Turnbull lower-bound mean WTP (36.75ha) was php 493.6(US$ 11.3) per household to establish the additional MPA (36.75ha) in their municipality waters.

• Journal of the Chungcheong Mathematical Society
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• v.30 no.1
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• pp.53-59
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• 2017

In this article, we generalize the concepts of several classes of domains (which are related to a Dedekind domain) to a torsion-free module and it is shown that for a faithful multiplication module over an integral domain, we characterize Dedekind modules, cyclic submodule modules, and discrete valuation modules in terms of factorable modules and a sort of Euclidean algorithm.

• Journal of the Korean Mathematical Society
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• v.45 no.5
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• pp.1405-1416
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• 2008

Let D be an integral domain, X an indeterminate over D, $N_v = \{f{\in}D[X]|(A_f)_v=D\}.$. Among other things, we introduce the concept of t-locally PVDs and prove that $D[X]N_v$ is a locally PVD if and only if D is a t-locally PVD and a UMT-domain, if and only if D[X] is a t-locally PVD, if and only if each overring of $D[X]N_v$ is a locally PVD.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.367-370
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• 2015

Building deterioration reflects the degradation of basic building performance including structural performance, energy performance, durability, and safety, and it also includes perceived deterioration, which considers a user-based perspective. More than 50% of the existing buildings in Korea are over 15 years old and public buildings compose 2.5% of all buildings domestically. Therefore, there are several different problems, such as poor energy efficiency, structural performance, and safety. To address the challenges of increasing stock in deteriorated buildings, it is necessary to make decisions about reconstruction or renovation. In this study, we propose a new method to evaluate public building value with a contingent valuation method (CVM). By estimating willing-to-pay (WTP) from users of private buildings in similar situation with the public building, it is possible to compare market prices and calculate a correction factor to adjust the WTP data. Finally, we apply the correction factor to the WTP of a public building and estimate market price, willingness to pay (WTP). Finally, we apply the correction factor to willing to pay (WTP) of public building and estimate market price.