A SIMPLE APPROXIMATION OF TOBINS-Q

被引：1069

作者：

CHUNG, KH

PRUITT, SW

机构：

来源：

FINANCIAL MANAGEMENT | 1994年 / 23卷 / 03期

关键词：

D O I：

10.2307/3665623

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper develops a simple formula for approximating Tobin's q. The formula requires only basic financial and accounting information. Results of a series of regressions comparing our approximate q values with those obtained via Lindenberg and Ross' (1981) more theoretically correct model indicate that at least 96.6% of the variability of Tobin's q is explained by approximate q.

引用

页码：70 / 74

页数：5

共 12 条

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[2]

JOSE M, 1986, FINANCIAL MANAGE WIN, P33

[3]

LANG L, 1989, J FINANCIAL EC SEP, P181

[4] MANAGERIAL PERFORMANCE, TOBINS-Q, AND THE GAINS FROM SUCCESSFUL TENDER OFFERS [J].