Contents
An exploratory study on the valuation approaches in the international game licenses / 남영호 1
〈Abstract〉 1
〈국문초록〉 2
I. Introduction 3
1.1. Background and Purposes 3
1.2. Previous Research 3
II. Analysis of Online Game Publication 5
2.1. Features of MMORPG 5
2.2. Description of the International Publication Process 6
III. Valuation Approaches for Game Software 7
3.1. Three Approaches 7
3.2. Preferred Approaches 7
IV. Hypotheses of Valuation Approaches 8
4.1. Theoretical Argument for Game Software 8
4.2. Information Asymmetries 9
4.3. Intermediary Factors 11
V. Empirical Analysis of License Contracts 12
5.1. Selection of Sample Games 12
5.2. Sample Description 13
5.3. Results 15
VI. Conclusions 21
〈References〉 23
〈Appendix〉 25