Value Of Technology Research Articles

Valuation of energy harvesting technologies — Insights for technology managers

With the growing number of energy harvesting technologies, there is a need to identify the ones that hold the strongest future potential. This information is important to both investors and policy makers who are looking to adequately resource their development. However, choosing the right technology also requires the right assessment metric. This remains a challenge because of the number of metrics to choose from and lack of guidelines on how to choose the right metric. We attempt to fill this gap through this research. The objective of this article is to examine the future potential of various energy harvesting technologies using well known patent value indicators from literature. Based on a data set consisting of 152 base inventions from four energy harvesting sectors, leading to a study of over 4000 patents, our results show that metrics Technological Activity Degree (TAD) and Knowledge Accumulation (KA) outperform other metrics. The results show that inductive vibration energy harvesting technologies hold a stronger value compared to other technologies in this study, and that not all metrics have the same predictive capability. The study provides guidelines for technology managers and investors for selecting patent evaluation metrics that are appropriate for energy harvesting technologies.

Technology Opportunity Discovery using Deep Learning-based Text Mining and a Knowledge Graph

To capture emerging technologies in the fast-changing technology market, use of information concerning new technology-based firms (NTBFs) is strongly encouraged, in addition to the information about the technology itself. Especially, NTBFs rapidly respond to technological change, and their investment information is a significant criterion of technology valuation. Therefore, this study proposes a new technology opportunity discovery (TOD) framework that exploits text mining by deep learning and a knowledge graph (KG) by using three data sources: technology, NTBF, and investor data. First, a technology-classification model was developed using technical text data acquired using Doc2vec and logistic regression, and then this model assigned highly-relevant technology fields to NTBFs using NTBFs’ investor relation text data. Next, a KG that considers technology, NTBF, and NTBF’s investor was constructed to represent their relations for TOD by using the results of previous steps. Lastly, considering inter-connectivities of such factors, a TOD index that measures the potential of technologies was proposed. The accuracy and validity of the methods were demonstrated empirically, and an evaluation of emerging technologies identified by the analysis was provided. Our framework will be of great significance as a useful alternative to provide new insights for emerging technologies in the industry and market.

Income approach to technology valuation for innovations

Until now, technology valuation has been dominated by the income approach, a forward-looking methodology that discounts future cash flow. To account for risk in technology valuation of innovations, a typical net present value (NPV) method is complemented with real option valuation method. Even though real option techniques account for risk changes in practice, such models are subject to criticism for reasons of mathematical complexity. We propose a modified income approach we refer to as 'Innotech' that incorporates innovation characteristics and industry characteristics into the valuation model. Our modified approach for the valuation of innovative technology reduces challenges related to mathematical modelling and dependency on factors such as risk premium, expected cash flows and contributory charge.

New product development in micro, small, and medium-sized enterprise-based agriculture products: a valuation technology approach

The innovation from university can assist Micro, Small, and Medium-sized Enterprises (MSMEs) in growing their business. However, because the technology has not been tested, MSMEs are still hesitant to adopt it. As a result, the objective of the research is value the innovation produced by the researcher at university that can add value to MSME products and business development. We employ a technology valuation application as a decision-making tool for valuing and predicting license prices for innovative technology to be commercialized. The use of mangosteen rind powder as a natural preservative on the physicochemical characteristics of coconut sugar had a risk factor of 0.4277, with a technology class of moderate risk, and was located in the technological life cycle's growth area and the product life cycle's diffusion area. The technology license price was IDR 302,042,177 and the diffusion of new technical consumer features was a growing field of innovation. As a result, to attract late adopters, it was necessary to project a positive image of technology beneficial to their health. The study's relevance is based on the patient-oriented technology valuation system, which can anticipate the price of new technology that has the potential to be commercialized.

Indonesian Spectrum Valuation of 5G Mobile Technology at 2600 MHz, 3500 MHz, and 26 GHz and 28 GHz

Spectrum valuation is necessary to help regulators set up new technology regulations to overcome specific conditions, such as area-particular treatment in industrial estates, to support vertical industries with wider spectrum bands and various frequencies. This paper delivers the results of a study on spectrum band valuation at various frequencies to speed up Indonesia's Industry 4.0. This work utilised a case study of industrial estates in Jakarta, Indonesia's capital, and research on the impact of frequency bands at 2600 MHz, 3500 MHz, 26 GHz and 28 GHz on three factors of an economic engineering model: Factor 1, the engineering side to maximise fifth generation (5G) cellular coverage; Factor 2, the economic side for a financial aspect in terms of capital expenditures (CAPEX) and operating expenditures (OPEX) per square kilometre and Factor 3, the economic side for spectrum value per MHz per population. This paper will be helpful for both mobile network operators (MNOs) and regulators. For MNOs, this study provides perceptions about spectrum valuation methods and provides data on the value of various frequencies in 5G. For regulators, it provides perceptions of the economic value of various frequencies in 5G, which aids in the assignment of costs for spectrum licenses and the establishment of reserve prices and intended budgets for future spectrum auctions. This work found that using 26 GHz/28 GHz (mmWave) for 5G services necessitates a greater investment in infrastructure than using 2600 MHz and 3500 MHz (midband). In the midband and mmWave bands, the population density has a major impact on the spectrum valuation for 5G.

When Blockchain Creates Shareholder Value: Empirical Evidence from International Firm Announcements

Blockchain is a prominently discussed technology in operations and supply chain management and firms increasingly engage in blockchain initiatives. Yet, an understanding of the technology's financial value remains elusive. Based on 175 firm announcements between 2015 and 2019, we conduct an international event study to estimate the impact of blockchain initiatives on the market value of the firm. We empirically demonstrate that blockchain announcements are associated with a significant average abnormal return of 0.30% on the announcement day, and that there are indications of positive long‐term effects on shareholder value. We further demonstrate how blockchain use case, project, and firm characteristics affect the stock market reaction. Specifically, we find that the stock market reaction to blockchain announcements is less positive when blockchain is used to trace physical objects or to share sensitive data, providing empirical evidence for the risk associated with current challenges in the design of blockchain use cases. Our results also suggest that the involvement of an external information technology service provider in a blockchain project attenuates the positive stock market reaction. Interestingly, more innovative firms do not experience a stronger stock market reaction to blockchain announcements. Leveraging the international scope of our sample, we further shed light on how the firm's competitive (i.e., industry factors) and macro environment (i.e., country factors) affect the stock market reaction. Our findings indicate that the industry's R&D intensity and the country's data restriction level play a crucial role in driving the value attributed to blockchain initiatives.

Income approach to technology valuation for innovations

Income approach to technology valuation for innovations

Valuation of University-Originated Technologies: A Predictive Analytics Approach

Experts have difficulty assessing the economic value of university-originated technologies due to the high level of uncertainty associated with the commercialization of early stage and basic technologies. This article proposes a random forest approach to the valuation of university-originated technologies that integrates monetary value and patent value models for technology valuation. First, a technological characteristics-value matrix was constructed after defining a total of 23 indicators from the U.S. Patent and Trademark and Scopus databases and extracting the value of university-originated technologies from technology transaction databases. Second, a random forest model, an ensemble machine learning model based on a multitude of decision trees, was employed to assess the economic value of university-originated technologies. Finally, the performance of our approach was assessed using quantitative metrics. A case study of the technologies registered in the Office of Technology Licensing of Stanford University confirms, with statistically significant outcomes, that our method is valuable as a complementary tool for the valuation of university-originated technologies.

Advancements in diagnostic techniques for oral cancer detection.

Oral malignancy is among the highest prevalent malignancies all over the world. In comparison to systemic malignancies such as lung cancer and colon cancer, they are frequently overlooked by the general public. Nevertheless, they can be exceedingly lethal if left ignored, regardless at the early stage of the condition. Dentists are the finest qualified healthcare specialists in this sector and are responsible for detecting benign and potentially malignant oral conditions such as oral cancers. Oral carcinoma's high prevalence and delayed appearance are serious international medical concerns. Early detection and management of oral carcinoma are the key goals of the World Health Organization (WHO). The identification of key clinical manifestations during the preliminary oral examination can enhance the patient's likelihood of living. Unfortunately, the conventional technology's practical value is limited by a number of drawbacks. Current advancements in optical scanning techniques, such as tissue-fluorescence imaging and optical coherence tomography, have proven to be quite effective. In particular, nanoparticle-based immunosensors, genomics, and salivary biomarkers, epigenetics and microarray have all received a lot of attention. Raising awareness about frequent dental examinations and using noninvasive, effective, and cost-effective screening tools would improve initial stage detection of oral carcinoma and improve patients' longevity.

A Study on Intelligent Technology Valuation System: Introduction of KIBO Patent Appraisal System II

Technology finance, which has attracted worldwide attention for the successful business development of small-and-medium enterprises (SMEs) or start-ups, has advanced an innovation or stagnation way-out resolution strategy for companies in line with the low-growth economic trends. Although the development of new technologies and the establishment of active R&D and commercialization strategies are essential factors in a company’s management sustainability, the activation of the technology market in practice is still in progress for its golden age. In this study, to promote a technology transfer-based company’s growth and to run technology-based various financial support activities, we develop and propose a new intelligent, deep learning-based technology valuation system that enables technology holders to estimate the economic values of their innovative technologies and further to establish a firm’s commercialization strategy. For the last years, the KIBO Patent Appraisal System (KPAS-II) herein proposed has been advanced by KIBO as a web-based, artificial intelligence (AI) and evaluation data applications valuation system that automatically calculates and estimates a technology’s feasible economic value by utilizing both the intrinsic and extrinsic index information of a patent and the commercialization entity’s business capabilities, and by applying to the discounted cash flow (DCF) method in valuation theory, and finally integrating with deep learning results based on the in-advance previously established patent DB and the financial DB. The KPAS-II proposed in this study can be said to have dramatically overcome the long-term preparation period and high levels of R&D and commercialization costs in terms of the limitations that the existing technology valuation method possesses by enhancing the reliability of approximate economic values from the deep learning results based on financial data and completed valuation data. In addition, it is expected that technology marketing coordinators, researchers, and non-specialty business agents, not limited to valuation experts, can easily estimate the economic values of their patents or technologies, and they can be actively utilized in a technology-based company’s decision-making and technologically dependent financial activities.

The impact of the timing of patent allowance on technology licensing performance: evidence from university invention commercialization

This paper investigates the impact of the timing of patent rights on licensing performance in the context of university technology licensing. We provide an argument that the timing of patent allowance, i.e., a legal event that clarifies patent rights, in the technology licensing phase can alter licensing performance by shifting technology valuation, as well as behavioral dynamics, in the process of commercialization. By analyzing inventions disclosed from Stanford University, we find that preallowance licensing (i.e., entering a licensing arrangement prior to patent allowance), compared to postallowance licensing, is negatively associated with licensing performance by increasing the chances of licensing underperformance. However, licensing underperformance associated with preallowance licensing is only significant when the inventor and licensee do not have prior collaboration experience. This study emphasizes the importance of understanding the temporal condition of appropriability in the route for technology commercialization by revealing the patent‐licensing timing sequence as a source of variation in university technology licensing.

Digitalization and rural entrepreneurial attitude in Indonesia: a capability approach

PurposeThis paper aims to identify how digitalization affects entrepreneurial attitudes in rural areas in Indonesia, a country in the Global South. The development of digital technology can help entrepreneurs, in that faster and easier information acquisition helps rural communities to identify new opportunities and innovate. Yet, digital development generates higher disparity, and thus, not all people can benefit from digitalization. Although digital technology can facilitate the development of entrepreneurship, its benefits depend on individual preferences. In this regard, the capability approach is used so as to reflect how different valuations of digital technology in rural entrepreneurs influence their attitude with regard to recognizing business opportunities and taking risks.Design/methodology/approachA double case study approach is used in which this study examines two cases of rural entrepreneurs in Indonesia that represent different uses of digital technologies and socio-economic rural contexts: coffee entrepreneurs in Kintamani and craft producers in Kamasan village. In so doing, semi-structured interviews were conducted with local entrepreneurs and communities according to purposive and snowball sampling techniques. The qualitative data were then analysed using a constant comparative technique which allows us to develop a conceptual argument by observing patterns within and between the cases.FindingsThe findings show that digitalization shapes the attitude of rural entrepreneurs differently, although the same opportunity from using digital technology is present in the village. Social and environmental factors facilitate the rural entrepreneurs to consider using digital technology to develop their businesses. However, as each individual entrepreneur has a different valuation of digital technology, the benefits it offers – such as broader market opportunities and new business ideas – vary. Entrepreneurs who consider digital technology to be a valuable resource for developing their businesses are more curious to explore its benefits.Originality/valueThe capability approach provides a new perspective in understanding rural entrepreneurship. First, the authors demonstrate that the success of rural entrepreneurship is influenced not only by concrete things (e.g. resources) but also the individual perspective on these resources which may vary across entrepreneurs. Second, the authors show not only the potential differences in socio-cultural contexts in which the capability approach is applied but also how socio-cultural values and collectivism influence the individual valuation of resources that could benefit entrepreneurs.

The importance of temporal resolution in modeling deep decarbonization of the electric power sector

Power sector decarbonization is a central pillar of economy-wide emissions reductions. However, model complexity, especially temporal resolution, can materially impact power sector decarbonization pathways. Using a detailed electric sector capacity planning and dispatch model, this analysis explores impacts of temporal resolution on electric sector investments and costs and how these outcomes vary under different policy and technology assumptions. Results show that approaches to simplify temporal variability used in many integrated assessment and energy system models may not replicate fundamental relationships for power sector decarbonization or may exhibit large quantitative deviations from more detailed modeling, including abatement costs rising nonlinearly at higher decarbonization levels; variable renewables and batteries being accompanied by additional low-/zero-/negative-emissions resources, especially approaching 100% decarbonization; and carbon removal technologies altering electric sector costs and investments. Representative day approaches can preserve many of these properties with large reductions in computational complexity. Simplified temporal aggregation approaches tend to understate the value of broader technological portfolios, firm low-emitting technologies, wind generation, and energy storage resources and can overstate the value of solar generation. Approximation accuracy also depends on assumptions about technological cost and availability: differences across approaches are smaller when carbon removal is available and when renewables costs are lower. The analysis indicates that higher temporal resolution is increasingly important for policy analysis, electric sector planning, and technology valuation in scenarios with deeper decarbonization and higher variable renewables.

A tale of two frames: Exploring the role of framing in the use discontinuance of volitionally adopted technology

AbstractThe discontinuance of volitional IS (i.e., information systems adopted, used and discontinued at will) has recently attracted remarkable attention from academics and practitioners alike. However, most research to date has been ahistorical. Ignoring the temporal progression can be problematic when the phenomenon under investigation is dynamic and evolving. To balance this, we adopt a stage modelling approach to understand the process ending with the technology use being discontinued by users of a popular crowdsourcing platform. Two questions guided our investigation: (1) Why do users discontinue using an IS they have volitionally adopted and used? (2) How does IS discontinuance occur over time in such context? We develop a stage model demonstrating that five stages are critical in understanding IS discontinuance: IS framing, goal pursuit, frame disruption, dormancy and quitting, after which possible switching denotes a new cycle. Furthermore, we identify two frames that help us understand why different users interpret and evaluate the technology differently – namely, the gain frame and the hedonic frame. On one hand, a gain frame is linked to the goal of improving one's resources and thus directs the user's attention to the technology's instrumental value. On the other hand, a hedonic frame is linked to the goal of having fun and thus directs the user's attention to the technology's enjoyment value. But, most importantly, we show that the technology's use lifecycle as a whole from initial use to discontinuance is shaped and guided by the user's dominant frame. Our insights elicit a number of important theoretical and practical implications.

Technology valuation of cellulosic ethanol production by Kluyveromyces marxianus CCT 7735 from sweet sorghum bagasse at elevated temperatures

Technology valuation of cellulosic ethanol production by Kluyveromyces marxianus CCT 7735 based on the concepts of circular economy was investigated. After an acid-base pretreatment followed by saccharification at 50 °C for 72 h, the sweet sorghum hydrolysate was used to produce ethanol at three temperatures: 37, 42, and 45 °C. About 17.83 g/L of cellulosic ethanol was reached at 42 °C in 24 h, with a yield of 2769.8 L/hasorghum, almost double that obtained for corn straw. This was the best cellulosic ethanol production from sweet sorghum bagasse achieved by K. marxianus strain and, therefore, it was used in the technology valuation. This analysis was carried out through the application of the profit equation, in which the revenue corresponded to ethanol sales in the global market in 2020, and the costs were defined by the activity-based costing method. An integration between 1G and 2G ethanol production, without mixing material streams, was considered to improve the technology valuation analysis. As a result, the equivalent to 17.2% of the profit obtained with the sugarcane juice ethanol was achieved for the sweet sorghum bagasse. Therefore, the technology valuation indicated the potential of sweet sorghum bagasse in the biorefinery ethanol production.

Patents valuation in core innovation: case study of a Brazilian public university

Purpose The purpose of this paper is to assess how technology transfer offices (TTOs) of a public university of the state of São Paulo use patent valuation methods in the process of using developed technology value and transferring technology to industry. Design/methodology/approach This study is an exploratory qualitative investigation based on a case study conducted in a public university in the state of São Paulo. The university has a TTO and an internal structure for technology transfer. In-depth interviews were conducted with the TTO manager about patent valuation and the answers given were analysed. Findings The results on how TTOs use patent valuation methods in the process of assigning value to technology indicate which factors facilitate and which factors hinder the valuation of patents in technologies developed at universities. Research limitations/implications The possible lack of data disclosure due to confidentiality regarding royalties and trading fees makes further comparisons between Brazilian public universities difficult. Therefore, this study recommends that further studies on patent valuation and technology transfer process at private universities, research institutes and public and private companies should be performed. Practical implications In the practice, this study contributes to companies and TTOs by increasing their synergies in licensing negotiations, as well as by reducing the gap of information, between the business parties for assignment and transfer of technologies. With regard to theoretical contribution, this study can cite advances in the methods to measure the financial benefits arising from the valuation of technologies embedded in the patents. Originality/value Owing to the lack of research on the methods of valuation used by TTOs of Brazilian universities, the present study can be useful in serving as a theoretical source for future research and in supporting future TTO negotiations in the process of transferring technologies to productive industry.

Modelling of Technology Valuation in the Processof its Commercialization

Modelling of Technology Valuation in the Processof its Commercialization

Demand for environmental quality: averting behaviors impacts and valuation in Southern Ghana

Abstract Using a cluster randomized evaluation in Southern Ghana, this paper estimates the impacts of water quality testing and information on averting behaviors, demand and expenditures on water, sanitation and hygiene (WASH). Households are randomly assigned into either child treatment or adult treatment or comparison group. The study also elicits households' valuation of water quality testing and information using a stated preference approach. The study finds that averting behaviors and expenses on WASH increased more in the treatment households than the comparison households. The results also show that the experiment does not lead to demand for WASH information and infrastructure, except for water treatment in the adult treatment group. Contingent valuation estimates of households' willingness to pay (WTP) for water quality testing and information are lower than the cost, and are consistent with previous studies which show low valuation of water quality technology in Ghana. The WTP in the treatment groups are lower than the comparison group. The study also finds differential impacts on some of the outcome measures based on the random assignment into the treatment groups. The results have research and policy implications on the demand for preventive health goods and environmental quality in developing countries.

A Framework to Assess the Valuation Techniques for New Technology-based Firms: A case in an Emerging Market

Valuation of new technology-based Firms and Startups is one of the main concerns of these Firms. The need to expand financial resources and evaluate the potential income of these firms increases the importance of the valuation of these firms for entrepreneurs and investors. In this paper, we represent a comprehensive framework to assess the strengths and the weaknesses of the valuation methods in NTBFs with a focus on the factors in the emerging markets. For this purpose, different valuation methods and their related criteria for NTBFs are extracted and evaluated by experts in terms of applicability and Sufficiency. We categorized the existing valuation methods to 4 different groups: “asset valuation methods”, “intellectual property valuation methods”, “technology valuation methods”, and “startups valuation methods”. Then, the importance of each criterion is determined using the analytical hierarchical process method. Finally, we used fuzzy TOPSIS to prioritize each category of valuation methods and identify their strengths and weaknesses. The results indicate which sets of valuation methods are the more appropriate method to evaluate different kinds of NTBFs. Besides, the results of the model on different criteria proposed different suggestions to improve the existing valuation methods.

Improving the methodology for assessing the level of localization of production of agricultural mobile energy devices

An improving methodology for assessing the level of localization of the production of agricultural mobile energy is presented. The basic methodology has been substantially adjusted with the transition from an arbitrary list of obsolete technological operations to the valuation of modern technologies, the quantitative accounting of the scarcity of manufactured equipment, the volume of after-sales services, the development of research and development, operational provision of spare parts, etc. The localization level sufficient to recognize a particular model as being produced in Russia is calculated as the sum of the shares of the tractor cost, taking into account a number of decreasing coefficients that take into account the progressive effect of localized production: deficiency coefficient of the produced model; service network ratio; R&D financing ratio; coefficient of availability of spare parts warehouse. The implementation of this methodology contributes to solving the problems of developing the Russian economy.