Purpose In the field of sports industry, the intangible assets of sporting companies often show discrepancies between accounting information and corporate value because of conservative current accounting standards. Therefore, this study intends to present a valuation model of intangible assets of sports industry based on cost approach, as a part of a method of capitalizing intangible property expenditures. And we tried to verify the valuation model of intangible assets derived from the research on actual sports companies. Methods To accomplish the purpose of the study, reviewing the literature on various related precedent studies and examining related valuation methodology, legal basis, and representative valuation models were utilized. And to verify the effectiveness of the derived model, Tobin q values were derived and compared. A simple regression analysis was used to verify the explanatory power of the derived model. Results The financial evaluation was conducted based on the cost approach, which enables relatively objective evaluation through the existing financial statements, and a valuation model with the procedure of duplicating the AHP evaluation to reflect the characteristics of the individual intangible assets was presented. In addition, in order to verify the proposed valuation model, the valuation was conducted by putting the accounting information of the sports companies into the intangible asset valuation model presented in this study. As a result of the statistical analysis on the evaluation results, the intangible asset value evaluation model presented in this study is proved to be significant based on statistically high explanatory power. Conclusion Therefore, if it is possible to appropriately evaluate the enterprise value of sports companies through the intangible asset valuation model based on the cost approach presented in this study, various types of technology financing will be possible in the sports industry. And this is expected to accelerate the growth of the sports industry in the future.
The purpose of this study was to identify problems that consumer and golf expert faced with and determine types of similar golf membership in Korea through analysing status of golf semi-membership. In addition, as the law related to golf facility was examined, current issues to improve management system of golf semi-membership were diagnosed, some improvements were deducted. In order to achieve the purpose of this research, case-study, expert interview, survey, examination of typical legal-system and expert advisory meeting were conducted. The results were as follows: First, the type of golf semi-membership was classified by 7. Second, the result of survey from consumer who experienced in purchasing golf semi-membership revealed that the number of experienced respondents was more than the unexperienced. Also, awareness of golf semi-membership brings positive effect to development of golf industry. According to the result of IPA, it was required that the current situation of golf semi-membership market would be improved and managed properly. Third, the results from investigating legal system in Korea showed that provision for reducing property loss associated with illegal contracts might be needed. Eventually, in order to minimize the property loss, complementary of membership contract, mandatory of information discloser, enacting provisions against violation and introduction of cooling-off system would be required.
