• The Journal of Information Systems
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• v.15 no.2
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• pp.95-123
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• 2006

It is needed to evaluate information systems actively which has already developed to improve future performance of the organization and foster the activation of information system. The introduction or development of information system also can bring about a organizational success. To measure exactly the organizational performance of information systems, it is needed to develop a new valuation model for a specific information system from a objective pint of view, as well as to equip a standard methodology using BSC measurement. The information system valuation from a objective point of view is of importance as the basic information for the decision to obtain information system. This paper takes aim at investigating a new information system valuation model and developing a information system valuation system using case-based reasoning for predicting currency value of information system in each organization. A new information system valuation system is developed as a web-enabling base. Using this, users are able to estimate the value of specific information system on a real time efficiently.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1548-1552
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• 2009

In the construction industry, IT has been an alternative for the enhancement of productivity and technical advances through a paradigm shift. While it has been recognized that the IT system will have a substantial influence on the industry, a quantitative valuation has been very limited. This paper has chosen EVMS (Earned Value Management System), which supports the integrated management of cost and schedule by utilizing IT tools, and which is the largest trend in the construction IT industry in Korea, in order to suggest an analysis model for the valuation of IT. The CVM (Contingent Valuation Method) is used to quantitatively measure intangible value of IT application. Then, a valuation and analysis model were suggested for the quantitative valuation of the effect of IT adoption. In terms of willingness to pay for EVMS, the expected benefits from the adoption of EVMS were US$ 584.52 per man annually. This research should be helpful for construction companies evaluating their investment to Project Management Information System.

• Information Systems Review
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• v.5 no.1
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• pp.129-146
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• 2003

Increasing number of transactions and investments in technology has sparked a growing interest in technology valuation. However, it has not been easy to come up with an objective valuation of technology due to variance in technology value and specialty of technology valuation. The main objective of this paper lies in the development of a new system for technology valuation, Web-based Interactive Technology Valuation (WITV) system, which valuate the technology and analyze the technology value strategy. WITV system uses the Technology Valuation Attractiveness Model (TVAM). TVA is composed of the Intrinsic Value of Technology (IVT) and the Extrinsic Value of Technology (EVT). This paper experiment the feasibility of the TVA Model and WITV System by conducting an empirical study on small & medium sized manufacturing companies in IT industry, registered on KOSDAQ. In this study, the potential value is defined as the technology value. It is represents the expected profit appraised by the market under the competitiveness of technology and the growth of the market. TVA is measured as the index to forecast the Price-to-Book value Ratio (PBR), which is the proxy variable for the potential value of the technology. The results identify the feasibility of the TVAM through a high correlation between the TVA and the PBR.

• Journal of Korean Institute of Industrial Engineers
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• v.40 no.2
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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.

• International Journal of Advanced Culture Technology
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• v.12 no.1
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• pp.293-298
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• 2024

The purpose of an internal control system is to prevent the occurrence of errors and fraud in the process of producing accounting information, thereby providing investors with reliable information. For the effective operation of an internal control system, it is necessary to secure a sufficient number of personnel and experienced staff. This study focuses on the personnel directly involved in producing accounting information, examining whether companies that invest in their internal control staff experience a mitigation in the phenomenon of valuation errors. The analysis revealed that the size and experience months of the personnel responsible for internal control have a significant negative relationship with valuation errors. This result implies that by securing sufficient personnel for the smooth operation of the internal control system and placing experienced staff within the system, investors can effectively make judgments about the intrinsic value based on quality accounting information, thereby reducing valuation errors.

• Korean System Dynamics Review
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• v.7 no.2
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• pp.57-80
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• 2006

Nuclear technology made a great contribution to the national economy and society by localization of nuclear power plant design, and by stabilization of electricity price, etc. It is very important to conduct the retrospective analysis for the nuclear technology contribution to the national economy and society, but it is more important to conduct prospective analysis for the nuclear technology contribution. The term "technology value" is often used in the prospective analysis to value the result of technology development. There are various definitions of technology value, but generally it means the increment of future revenue or the reduction of future cost by technology development. These technology valuation methods are widely used in various fields (information technology or energy technology, etc). The main objective of this research is to develop valuation methodology that represents unique characteristics of nuclear power technology. The valuation methodology that incorporates market share changes of generation technologies was developed. The technology valuation model which consists of five modules (electricity demand forecast module, technology development module, market share module, electricity generation module, total cost module) to incorporate market share changes of generation technologies was developed. The nuclear power technology value assessed by this technology valuation model was 3 times more than the value assessed by the conventional method. So it was confirmed that it is very important to incorporates market share changes of generation technologies. The valuation results of nuclear power technology in this study can be used as policy data for ensuring the benefits of nuclear power R&D (Research and Development) investment.

• Journal of Information Management
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• v.32 no.3_4
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• pp.123-145
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• 2001

The purpose of this study is to develop technology valuation system for technology transfer, which is using and supporting knowledge information. The valuation system comprises estimation of latent business profit by supporting formatted patent and technology-products market information, analysis of contribution profit by using industrial standard and innovation step and value of technology by using a real option equation. This study suggests a successful system in order to valuate the technologies quantitatively, and to use and support knowledge information from KISTI databases or other selected internet Information.

• IE interfaces
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• v.15 no.4
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• pp.444-451
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• 2002

Recently, the interest in technology valuation is revived and increasing mainly due to the lack of suitability of the traditional valuation methods in explaining the market reaction to newly-emerging knowledge-oriented companies. Moreover, many firms are now gearing their efforts to the strategic use of technology asset such as technology licensing, transfer and commercialization. Firms are also trying to enhance their technological competitiveness by re-evaluating their technology level and thus identifying the strengths/weaknesses of their technology portfolio. To accomplish this objective, the development of an integrated evaluation system for technology assets is essential. This paper presents a technology valuation system developed for a steel manufacturing company in South Korea. The valuation framework is based on; (1) the multi-attribute evaluation of technological competitiveness using Analytic Hierarchical Process and; (2) the expected future benefit of the technology using four different methods of discounted cash flow estimation. The suggested framework will be easily applicable to various industries where technological competitiveness should be evaluated systematically.

• Asian Journal of Innovation and Policy
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• v.6 no.2
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• pp.206-224
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• 2017

This article proposes a logic model for assessing the performance of the outcome of public research as a technology valuation method. It consists of two parts and eight steps. The first part is a scoring system and the second part is a validation process of the performance index derived from scoring by valuation method. The scoring in the first part generally requires a focus group method to find out the value drivers and make an evaluation table. The reason why we call it the technology valuation method is that the first part is derived from the simple evaluation of technology value using checklists for value drive. The second part is the regular technology valuation process. The model is designed for the measurement of unquantifiable outcome. Is knowledge or scientific outcome comparable to the measured outcome? If possible, how big is the unquantifiable outcome? This model is based on financial valuation techniques with clear or acceptable market data. Therefore, it cannot work solely for unquantifiable outcomes without comparable measurable outcomes, unlike economic valuation.

• 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.