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    政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 >  Item 140.119/78932


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    題名: Tobin`s q-Ratio and Market Reaction to Capital Investment Announcements
    作者: Blose, Laurence E.;Shieh, Joseph C. P.
    謝劍平
    貢獻者: 財管系
    關鍵詞: Capital;Investment;Public Utilities;Stock Market
    日期: 1997-08
    上傳時間: 2015-10-12 11:45:22 (UTC+8)
    摘要: There is a significant positive relation between Tobin`s q-ratio and the magnitude of stock market reaction to capital investment announcements. The findings have the following implications for capital investment theory: (i) the results provide evidence substantiating the link between the q-ratio and real investment for industrial firms. For public utilities however, no such link exists. (ii) The study finds that average q and marginal q are correlated but the relation is somewhat more complicated than simple quality as assumed by numerous empirical studies. (iii) The findings suggest that investors can use average Tobin`s q-ratio to identify companies with profitable real capital investment opportunities.
    關聯: Financial Review, 32(3), 449-476
    資料類型: article
    DOI 連結: http://dx.doi.org/10.1111/j.1540-6288.1997.tb00434.x
    DOI: 10.1111/j.1540-6288.1997.tb00434.x
    顯示於類別:[財務管理學系] 期刊論文

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