• 정보관리연구
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• 제33권4호
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• pp.107-128
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• 2002

이 연구는 R&D 투자에 대한 신속한 의사결정을 지원하고 R&D의 경제적 성과를 극대화시키기 위하여 R&D 기획 초기부터 기술의 경제적 수익에 대한 개념을 도입하고, 개발 완료된 R&D 기술의 상용화에 이르기까지 의사결정에 필요한 정보를 제공하는 시스템에 관한 것이다. 이 연구는 R&D 의사결정의 주요 경로를 파악하고, 단계별로 소요되는 정보에 대한 분석과 지식정보의 지원을 위하여 KISTI 과학기술 데이터 베이스 및 다른 공개용 정보원과의 원활한 연계 및 기술가치평가 정보 지원으로 구성되어 있다. 특히, 경제적 성과를 추정하기 위한 기술가치평가 정보 지원은 단계별 근거가 되는 지식정보를 지원하는 KISTI 기술가치평가 모델을 접목함으로써 좀더 객관적인 추정과 의사결정을 지원하도록 하였다.

• 아태비즈니스연구
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• 제14권4호
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• pp.23-36
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• 2023

Purpose - This study investigates the impact of equity financing on the valuation of R&D investments using a sample of firms from 33 countries from 1997 to 2018. Design/methodology/approach - I use a modified version of the valuation regression widely used in the literature. Findings - I find evidence that R&D investments are more highly valued when financed through equity. In contrast, debt financing does not affect the valuation of R&D investments. I also document that the impact of equity financing on R&D investment valuation weakens during the financial crisis. Research implications or Originality - In light of the distinctive characteristics of innovative investment, previous research investigates its relationship with financing. What remains unexamined, however, is how financing choices impact the way investors value innovative investments. This study seeks to bridge this gap in the existing body of research using a sample of firms from 33 countries from 1997 to 2018, for 22 years.

• 대한산업공학회지
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• 제40권2호
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• pp.195-204
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• 2014

The transition from fossil to renewable energy is inevitable due to fossil depletion. So, Renewable energy is very important for energy security and economic growth although it's R&D is long-term and high risky project. We propose new valuation method which combined system dynamics and compound real option method for long-term and high risk projects such as renewable energy. This method can show dynamic valuation results for the complex causal interaction and be easy for Monte-Carlo simulation to estimate volatility. And it can reflect the value of flexible decision for uncertainty. We applied the empirical analysis for Korea's photovoltaic industry by using this method. As results by empirical analysis, photovoltaic's R&D has high valuation using this method compared by traditional valuation methods such as DCF.

• 기술혁신학회지
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• 제5권1호
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• pp.16-25
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• 2002

그 동안 R&D와 관련된 많은 연구는 다양한 성장모형을 이용해 경제성장과 연구개발 투자사이의 관계를 보이는데 중점을 두어왔으나, 디지털 경제에서의 지식 혁신에 의한 R&D활동의 성장패턴을 보이는 연구는 이루어지지 않고 있다. 따라서 본 연구에서는 W기업의 생산과정에서 R&D활동에 따른 비중의 변화가 생산성을 증가시키는 성장의 패턴을 다양하게 할 수 있음을 보이고자 한다.

• 한국기술혁신학회:학술대회논문집
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• 한국기술혁신학회 2002년도 춘계학술대회
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• pp.19-33
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• 2002

그 동안 R&D와 관련된 많은 연구는 다양한 성장모형을 이용해 경제성장과 연구개발 투자사이의 관계를 보이는데 중점을 두어왔으나, 디지털 경제에서의 지식 혁신에 의한 R&D활동의 성장패턴을 보이는 연구는 이루어지지 않고 있다. 따라서 본 연구에서는 IT기업의 생산과정에서 R&D활동에 따른 비중의 변화가 생산성을 증가시키는 성장의 패턴을 다양하게 할 수 있음을 보이고자 한다.

• 기술혁신연구
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• 제14권3호
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• pp.237-261
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• 2006

Under circumstances with increasing uncertainty, strategic flexibility has become an essential point on which my R&D management system should be based. Unfortunately the present R&D management system for government sponsored R&D programs cannot be said to be so flexible to adapt appropriately to various threatens such as technological failure, a severe change in competition environment, and so on. In this paper a new scheme for R&D planning and economic assessment with strategic flexibility is suggested and applied to a real R&D program. In the newly suggested R&D management system, economic valuation based on real option theory is performed for various alternative scenarios which have different strategic scheme for R&D process each and the result of the assessment is fed back to R&D planning to choose more superior strategic scheme. Introducing strategic flexibility into R&D planning and economic assessment, the value of R&D project could be remarkably enhanced.

• Journal of Information Technology Applications and Management
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• 제21권4_spc호
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• pp.345-359
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• 2014

Technological, policy and economic factors are both important variables in maximizing the results of a national R&D program and key indicators in evaluating an R&D program's eligibility for financial support. Economic analysis, in particular, is used when selecting R&D programs, setting priorities, and estimating economic effects. This paper examines a series of methodological issues related to the economic analysis of national R&D programs within the framework of the current preliminary feasibility evaluation system, and proposes alternative approaches to each of the issues discussed. The issues include the definition of R&D valuation and establishment of valuation factors; estimation of sales attributable to R&D investment; assessment of the total economic value of R&D as intellectual assets; estimation of R&D benefits and assumption of related to sales; and the application of discount rates based on the weighted average cost of capital. Finally, this study presents directions for future research on analytical procedures and methods of improving the reliability of the results of economic analysis within the national technology planning system.

• 대한산업공학회지
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• 제41권2호
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• pp.150-161
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• 2015

This paper proposes a new approach to technology valuation, the market-replacement cost approach which integrates the cost-based approach and market-based approach. The proposed approach estimates the market-replacement cost of a target technology using R&D costs of similar R&D projects previously conducted. Similar R&D projects are extracted from project database based on document similarity between project proposals and technology description of the target technology. R&D costs of similar R&D projects are adjusted by mirroring the rate of technological obsolescence and inflation. Market-replacement cost of the technology is then derived by calculating the weighted average of adjusted costs and similarity values of similar R&D projects. A case of "Prevention method and system for the diffusion of mobile malicious code" is presented to illustrate the proposed approach.

• 디지털융복합연구
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• 제12권11호
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• pp.81-87
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• 2014

본 연구는 국가연구개발사업의 확대와 더불어 국토교통연구개발사업의 K 연구단의 사례를 분석하여 기술 가치에 대한 평가를 하였다. 기술 가치에 대한 평가는 기술적 측면을 가장 잘 보여주는 K 연구단이 등록한 특허를 대상으로 SMART3를 이용하여 분석하였다. 분석결과 K 연구단의 기술 가치는 국토교통연구개발사업의 평균과 비슷한 수준을 유지하고 있는 것으로 나타났다. 본 연구의 의의는 국가연구개발사업에 대한 원론적인 기술가치 평가에 대한 접근을 보다 구체화시켜 접근했다는데 있다. 국가연구개발사업의 본연의 목적을 달성하기 위한 객관적이고 다양한 평가 방법에 대한 연구가 더욱 많이 이루어지길 기대한다.

• 기술혁신학회지
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• 제8권1호
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• pp.94-115
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• 2005

The purpose of this study is to evaluate the economic value of a biotechnology in the middle of R&D and to examine strategies to manage a variety of risks and uncertainties intrinsic in research and development of biotechnologies through economic valuation in consideration of technological and industrial characteristics of the technology. To do this, this study analyzes the probability of commercial success of the technology development in qualitative terms, evaluates the quantitative value of the technology on the basis of a determined model, and proposes the implications on R&D strategy. In concrete, this study analyzes the economic value of the technology by constructing a decision tree reflecting the characteristics of the R&D process of the technology and draw the implications on the future R&D strategies of the technology.