• Title/Summary/Keyword: Valuation index

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The Study on Development of R&D Technology Rating Methodology in the Defense Area (국방 R&D기술 등급평가 방법론 개발 연구)

  • Jung, You-Jin;Kim, Joon-Young;Joung, Tae-Yun
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.2
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    • pp.158-167
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    • 2017
  • This paper presents the technology rating methodology that is applicable to defense R&D technology. First, a technology profitability index was developed using multiple regression analysis to forecast the revenue from technology transfer. Secondly, the technology evaluation index was derived using hierarchical analysis with expert opinion. Finally, the weighted average of the technology profitability index and technology evaluation index were calculated to derive the technology rating. This study is significant in that it is first attempt to evaluate defense R&D technology by rating. If the defense R&D technology rating methodology is applied in practice, it can contribute to efficient R&D budget allocation. In addition, it will help in the vitalization of technology transfer in the defense R&D sector.

Sustainable Earnings and Its Forecast: The Case of Vietnam

  • DO, Nhung Hong;PHAM, Nha Van Tue;TRAN, Dung Manh;LE, Thuy Thu
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.3
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    • pp.73-85
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    • 2020
  • The study aims to provide better understanding of sustainable earnings by a comprehensive analysis of earnings persistence of business firms in Vietnam as an example of developing economies in South-East Asia. Dataset of 1,278 publicly listed firms (excluding banking and financial services firms) on Vietnam Stock Exchange for the period from 2008 to 2017 was collected. By applying fixed effect regression model, the empirical results provided the basis to measure the persistence index (Pers index) and find low level of their earnings persistence. The literature of earnings quality analysis in developed countries suggests earnings persistence as a noteworthy determinant of future earnings forecast and stock valuation. However, research of sustainable earnings in developing countries is still highly underdeveloped. For Vietnamese listed firms, the average Pers index was estimated for the period from 2008 to 2010, indicating low level of earnings persistence. We also incorporated earnings persistence level into future earnings forecast by running the quintile regression model divided the data into four equal levels and conducted each section independently to see the difference in each percentile, thence assessed the factors' influence on the specific model. The findings provide important information on the expected returns of firms, especially helping investors make sound decisions.

A Study on Practical Valuation Assessment Indexing and Interpretation for Venture Company Investment (벤처기업 투자를 위한 실무 평가 지표와 해석)

  • Han, Jaewoo;Kim, Byounggwan;Kim, Wanki
    • Journal of Technology Innovation
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    • v.24 no.3
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    • pp.1-28
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    • 2016
  • This paper suggests objective practical investment index for venture capital investment evaluation, deviating from investment behavior that relies on venture capitalist's intuition and experience. To deduct universally valid practical venture investment index, We conducted a survey of venture capitalist 65 and analyzed the data using AHP method. The results show that when VCs determine whether to invest in a venture or not, market related factors are considered most important. For venture companies who hope to receive investment from VCs, market access, CEO's technical / managerial experience, and recommendation/reputation are considered as crucial factors.

Life Cycle Cost Evaluation Index Enhancing of Public Facilities (공공시설물의 LCC 평가기준 개선방안)

  • Gu, Bon-Hak;Kim, Tae-Hui;Kim, Ok-Gyu;Park, Tae-Keun;Lee, Hyun-Soo
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2007.11a
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    • pp.412-415
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    • 2007
  • Recently advanced nations utilize evaluation system about LCC, and KOREA begin to introduce the system to reduce construction expense. And Introducing "Technical proposal type bid" that is new government construction order mode made needs for valuation of price to evaluate facilities LCC. These days LCC is evaluated by BTL and turnkey project in KOREA, but it is suffering from difficulty in evaluation. because evaluation element and standard are indefinite. In addition LCC evaluation of public construction business except BTL and turnkey is not consisting. Therefore, in this research we present LCC evaluation Index for systematic and objective evaluation.

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The Analysis of Effect on Nutrition Education Program for the Elderly in Sung-nam Area (성남지역 노인 영양교육 프로그램의 효과 분석)

  • Kang Nam-E;Area Jeong-nam
    • The Korean Journal of Food And Nutrition
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    • v.18 no.4
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    • pp.357-366
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    • 2005
  • Elder people in Korea was affecting the nutritional status by following factors : low energy intakes, low food diversity, and poor quality of nutrition. Management a nutrition education program was planned to change the elder's nutrition knowledge and improve their nutritional status. There are seven kinds of indicator - knowledge for health questionnaire (before and after education) - we have investigated elderly nutrition education group in Su-Jung ku, Sung-Nam city. The items of surveyed was general characteristics and anthropometric measurement of the elder people, their mini dietary assessment index score, nutritional risk, nutrition knowledge test, and it's valuation comparisons between the before and after every education we did. According to the results of mini dietary assessment index score, the mean was 22.7 at the maximum 30 points and $94.2\%$ of respondents got more than nomal group. The nutritional risk score was the highest in 'high risk' group. Also the results of nutrition knowlede test showed that the mean increase $35.1\%$ of respondents. Therefore, significant improvement results showed by nutrition education programs in elders. These results suggests that the educating nutrition programs fur elder's encouraging eating behavior themselves and changing their knowledge in nutrition.

Data Product Value Evaluation Method for Data Exchange Platform (데이터거래 활성화를 위한 데이터상품가치 평가모델 연구)

  • Kim, Sujin;Lee, Junghyun;Park, Cheonwoong
    • The Journal of the Korea Contents Association
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    • v.21 no.12
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    • pp.34-46
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    • 2021
  • In the domestic data exchanging market, unreasonable pricing of purchase data is consistently mentioned as a major obstacle in data trading. This is a problem caused by the inability to properly evaluate the value of data products due to lack of product information and experience in using them. In order to activate trading, the data exchanges need to provide information that allows consumers to comprehensively judge the value of data products in addition to prices. The cost-based, income-based, and market-based methods, which are mainly applied to data valuation, are insufficient as data valuation methods to stimulate trading and distribution because only price information, a result of valuation from a supplier's point of view, can be shared with consumers. This study aims to develop a measurable valuation method that allows data trading stakeholders (exchanges, suppliers, and consumers) to judge and share the value of data products from a common perspective. To this end, we identified the value drivers of data products, which are considered important in overseas data exchanges and related research, and derived an evaluation method that can quantitatively measure each value driver. In addition, evaluation criteria in the form of a rating table were developed using data products for transactions, and a value evaluation index was developed through stratification analysis (AHP) to enable relative value comparison. As a result of applying the evaluation criteria to actual data products, it was found that the evaluation values were differentiated according to the characteristics of individual data products, so it could be used as a relative value comparison tool.

The Development of Life Cycle Cost Evaluation Index for Public Facilities (공공시설물의 생애주기비용 평가기준 개발)

  • Kim, Tae-Hui;Gu, Bon-Hak;Kim, Ok-Gyu;Park, Tae-Keun;Lee, Hyun-Soo
    • Korean Journal of Construction Engineering and Management
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    • v.9 no.6
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    • pp.216-224
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    • 2008
  • Recently, most developed countries use the evaluation system about Life Cycle Cost(LCC), and KOREA is beginning to introduce the system to reduce construction expenses. And the introduction of "Technical Proposal Type Bid", which is a new procurement method of Korea government, has made needs for the price-valuation way to evaluate facilities LCC. These days, LCC has been being evaluated by BTL and turnkey project in KOREA, which is suffering from difficulties in evaluating it, because evaluation elements and standards are vague. In addition, LCC evaluation in public construction business except BTL and turnkey is not carried out. Therefore, this paper is to develop a new evaluation index to evaluate LCC both systematically and objectively. The results of this paper are as followings. (1) Necessity and problem analysis of LCC evaluation index, (2) LCC evaluation index deduction from the technical report and question analysis, (3) Application and evaluation method suggestion to practice.

Estimation on the Future Traffic Volumes and Analysis on Information Value of Tidal Current Signal in Incheon (인천항의 장래 교통량 추정 및 조류신호의 정보가치 분석)

  • Kim, Jung-Hoon;Kim, Se-Won;Gug, Seung-Gi
    • Journal of Navigation and Port Research
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    • v.31 no.6
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    • pp.455-462
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    • 2007
  • This paper estimated the future traffic volume incoming and outgoing in Incheon port, and analyzed the value of information serviced by tidal current signal operation center in Incheon. The cargo traffic in 2020 will increase twice as much as in 2005 according to the national ports basis plan. The maritime traffic will increase greatly consequently. Also, MOMAF has operated tidal current signal operation center to prevent marine accidents caused by current influence on vessels navigating through Incheon. However the quantitative effect is not known because there is no analysis about its value. Therefore the value of information serviced by tidal current signal operation center in Incheon was calculated with contingent valuation method(CVM), and the information value was analyzed considering future traffic in this study. Thus, the annual information value was calculated at about $170{\sim}280$ million won, considered traffic volume using the information of tidal current directly in 2020 since 2006.

Improvement of Cooperation Charge on Conservation of Ecosystem Reflected Natural Capitals Valuation - Focused on Forest Area - (자연자산의 가치를 반영한 생태계보전협력금 제도 개선 방안 - 산림지역을 중심으로 -)

  • Park, Jin-Han;Lee, Dong-Kun;Tanaka, Riwako;Kim, Jung-Taek;Jeon, Seong-Woo;Lee, Woo-Kyun;Kim, Joon-Soon;Jung, Tae-Yong
    • Journal of the Korean Society of Environmental Restoration Technology
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    • v.17 no.1
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    • pp.203-213
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    • 2014
  • In Korea, a cooperation charge on conservation of ecosystem is imposed to prevent indiscriminate development. The total amount of this charge is determined by multiplying the size of the destroyed area by a value per unit area and the area index within 5 billion won. Since 2001, the charge per unit area has been determined to be $250won/m^2$. In this study, we estimated the unit value of ecosystem services per year using benefit transfer method, with a focus on forest resources. According to our results, forest resources have a value of about $3,500won/m^2$ per year. When the non-use value is subtracted, that figure becomes approximately $1,300won/m^2$. If this value incorporates the unit value of the cooperation charge on conservation of ecosystem, it will increase. To comply with the original intent of the cooperation charge on conservation of ecosystem, the fund must be used to improve ecosystem services, including the restoration of a destroyed area or the purchase of new land.

What explains firm valuation? Evidence from the Chinese manufacturing sector (중국 제조업 상장기업의 가치평가 설명요인에 관한 연구)

  • Sha Qiang;Yun Joo An;Moon Sub Choi
    • Korea Trade Review
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    • v.45 no.2
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    • pp.229-262
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    • 2020
  • The price-to-earnings ratio (PER) is an important indicator to measure the stock price and profitability of a firm; it is also the most used valuation indicator among investors. When using the PER to compare the investment values of different stocks, these stocks must come from the same sector. This study mainly focuses on the China's listed manufacturing firms. By learning from previous research results and analyzing the current situation, we studied the correlation between the manufacturing sector's PER and its influencing factors from both macro and micro perspectives, the combination of which eventually sheds light on such correlation. Analyzing GDP growth rate data, Manufacturing Purchasing Managers' Index, and other macroeconomic variables from 2008 to 2018, we conclude that these variables jointly have a certain impact on the average PER of the manufacturing sector. We then form panel data based on relevant (2014-2018) data gathered from 317 of China's A-listed manufacturing firms to study the impact of micro-variables on PER. By using Stata and other software to analyze the panel data, we reach the conclusion that the Debt to Asset Ratio, Return on Equity, EPS growth rate, Operating Profit Ratio, Dividend Payout Ratio, and firm size have a significant impact on PER. The Current Ratio, Treasury Stock ratio and Ownership Concentration have no distinct effect on PER. Based on our empirical findings, we design a theoretical model that affects the PER.