웹교통량을 이용한 한국과 일본 e-비즈니스 기업의 가치결정 요인 연구

A Study on the Analysis of the value-relevance from the Korean e-business firms and Japanese e-business firms based on the financial information and the web-traffic

The main purpose of this study is to confirm the possibility of web-traffic that affects e-business firms in Korea and Japan as the value drivers and to analyze effectiveness of web-traffic on the value of e-business firms as time goes by. For this purpose, the web-traffic was used as a major factor to the value of e-business firms, and it was investigated for the influences on the value of firms. Also, for analyzing the time effects, the financial information and the web-traffic of e-business firms registered at KOSDAQ (Korea) and JASDAQ (Japan) for the past 4 years (2000~2003) were used to evaluate and to analyze those factors to affect the value of e-business firms annually. Using the meaning of multiple regression methodology based on the financial information and the web-traffic from 25 Korean e-business firms and 24 Japanese e-business firms, the results are as follows: Differ from the non e-business firms, the regression analysis about the value of e-business firms is more progressed with adding web-traffic as a factor than considering financial information only. Besides, 4 factor of web-traffic (number of unique visitor, number visit, page view and site duration visit) was verified as a value diver to explain intrinsic value of e-business firms. Some distinguished facts were studied particularly in the case of Japan that the value of e-business firms was more increased with the site visit duration than with number of visitors. On the other hand, the efficient result of the affection from web-traffic with time change for e-business firms was not obtained on annual regression analysis (2000-2004).