Earticle

초록

영어

We introduce a theoretical valuation model of the venture company’s firm value. The most important characteristic of this model is its capacity to estimate the value of intellectual assets. as well as the enterprise. uSing publicly disclosed financial data. The valuation model consists of six groups of publicly available information ; namely. current financial assets. current and the prior period’s tangible asset, current and the prior period ’s net working capitals. current operating income, current expenses of knowledge management, and current investment assets. Because this makes the model very practical to apply in anal yses, it is possible to apply this model of firm value valuation to suit individual venture companies. The results of the positive study are as f이 lows . First, the size of intellectual assets. which is estimated from the expenses of knowledge management and networking investment turns out to be sizable. The estimated size of intellectual assets is reported to be 0.7 to 1.0 times of total assets in the balance sheet Second. the venture company valuation model can be used to estimate the proportion of the traditional value (including tangible asset value, working capital value and earnings’ value) , and the intellectual asset value (including technology. marketing, management, and networking asset values). The weight of each asset value is reported to be 40% : 60% in case of venture companies and 33% : 67% for internet companies.

목차

요약
 I. 서론
  1. 선행연구 개관
  2. 벤처기업의 특성과 사업가치 평가모형의 적합성 요건
 II. 벤처기업의 사업가치 평가모형
  1. 사업가치 평가모형: 현금흐름할인모형의 Entity Approach
  2. 사업가치 평가모형 개발에 활용한 제 가정
  3. 사업가치 평가모형과 AEtΖ 관계
  4. 지식자산가치 평가모형의 추정식
 III. 벤처기업의 사업가치 평가모형 실증연구
  1. 분석대상 및 기초 통계량
  2. 벤처기업의 지식자산 전환배수
  3. 벤처기업의 지식자산별 기업가치에 대한 기여도 분석결과
  4. 업종별 지식자산의 기업가치에 대한 기여도 분석결과
  5. 인터넷기업의 지식자산의 기여도 분석결과
 IV. 요약 및 결론
 부록
 참고문헌
 Abstract

키워드

저자

• 이원흠 [ Won Heum Lee | LG투자신탁운용 ] 제1저자
• 최수미 [ Su Mi Choi | LG경제연구원 ] 제2저자

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  재무연구 [Asian Review of Financial Research]

• 간기

  계간

• pISSN

  1229-0351

• eISSN

  2713-6531

• 수록기간

  1988~2026

• 등재여부

  KCI 등재,SCOPUS

• 십진분류

  KDC 325 DDC 330