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題 名 | 複雜托賓Q與簡單托賓Q兩者相關性之實證研究=The Relationship between Complex Tobin Q and Simple Q: Empirical Evidence in Taiwan |
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作 者 | 林西淮; 徐中琦; | 書刊名 | 管理會計 |
卷 期 | 47 1999.01[民88.01] |
頁 次 | 頁66-76 |
分類號 | 553.977 |
關鍵詞 | 簡單托賓Q值; 複雜托賓Q值; Simple tobin's Q value; Complex tobin's Q Value; |
語 文 | 中文(Chinese) |
中文摘要 | 本研究是在探討複雜托賓Q值與簡單Q值間之相關性,並且以臺灣股票市場之上市公 司資料作實證研究。本研究之目的,是要提供一個托賓Q值之簡單計算公式,以取代複雜托賓 Q值。此簡單公式,僅須要公司之基本財務會計之資訊,即可計算出該公司之托賓Q值,以作 為評估企業及投資決策之參考。本研究之研究結果,是根據採用一系列之迴歸分析,來比較 簡單托賓Q值與複雜托賓Q值間之相關性,發現兩者間具有高度相關性。因此,簡單托賓Q值之 運用,可以用來取代複雜托賓Q值。 |
英文摘要 | This paper studies the relationship between complex Tobin q values and simple q values through the data of Taiwan Stock Exchange (TWSE). It provides a simple formula for Tobin's q in order to replace complex Tobin's q. The formula only requires basic financial and accounting information to obtain the q value, which can be used to evaluate the performance of the company and to make the investment decision. The results of a series of regressions comparing our simple q values with those obtained via Lindenberg and Ross' equation indicate that there is very high observed correlation between the q values. Therefore, it reveals that complex q values can be replaced by simple q values in evaluating company's performance and decision- making. |
本系統中英文摘要資訊取自各篇刊載內容。