Robust Tobin's Q Theory

In this paper, Tobin's q theory is applied to evaluate the informativeness of the traditional accounting measures of business performance and the measures derived from the cash recovery rate (CRR). The informativeness is defined in terms of the correlation of the performance measure and the internal rate of return implied in a ratio known as Tobin's q. The paper shows that the traditional ROI does weakly reflect the underlying profitability. The internal rate of return derived from the cash recovery rate approach, however, seems to be more informative than the ROI.

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Equity Market or Bond Market—Which Matters the Most for Investment? Revisiting Tobin’s q Theory of Investment

Technology and Investment ◽

10.4236/ti.2012.34029 ◽

2012 ◽

Vol 03 (04) ◽

pp. 203-209 ◽

Cited By ~ 1

Author(s):

Willi Semmler ◽

Lebogang Mateane

Keyword(s):

Equity Market ◽

Bond Market ◽

Tobin’S Q ◽

Tobin's Q ◽

Q Theory

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Predicting Equity Returns Using Tobin's q and Price-Earnings Ratios

CFA Digest ◽

10.2469/dig.v34.n2.1422 ◽

2004 ◽

Vol 34 (2) ◽

pp. 48-49

Author(s):

Edgar J. Sullivan

Keyword(s):

Equity Returns ◽

Tobin’S Q ◽

Tobin's Q

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Pengukuran Kinerja Perusahaan Menggunakan Pendekatan Objektif dan Subjektif

10.31219/osf.io/zufgw ◽

2020 ◽

Author(s):

Raymond Lim

Keyword(s):

Firm Value ◽

Likert Scale ◽

Tobin’S Q ◽

Tobin's Q ◽

Value Growth

Mengukur kinerja perusahaan berdasarkan pendekatan objektif dan subjektif. Pengukuran secara objektif dilakukan dengan menggunakan ROA, Tobin's Q, TFP, dan firm value growth. Di sisi lain, pengukuran subjektif dilakukan dengan mengunakan likert scale.

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Pengaruh Corporate Social Responsibility Terhadap Nilai Dan Kinerja Perusahaan Manufaktur

Jurnal ULTIMA Accounting ◽

10.31937/akuntansi.v3i1.39 ◽

2011 ◽

Vol 3 (1) ◽

pp. 1-13

Author(s):

Agustin Ekadjaja ◽

Vony Vony

Keyword(s):

Corporate Social Responsibility ◽

Linear Regression ◽

Confidence Level ◽

Stock Exchange ◽

Tobin’S Q ◽

Manufacturing Companies ◽

Simple Linear Regression ◽

Tobin's Q ◽

And Performance ◽

Corporate Social

This study aims to determine the effect of CSR Index to the value and performance of manufacturing companies listed on the Indonesia Stock Exchange (BEI), and to find out how much the ability of the variable CSR Index in explaining the variable Tobin’s Q, ROA, and ROE manufacturing companies listed on Indonesia Stock Exchange (BEI). This study uses data sampled during the 75 years from 2007 to 2009. A statistical method used to test the research hypothesis is a simple linear regression model. Therefore, before performing hypothesis testing carried out tests of classical assumptions. The results of this study prove that, CSR Index has a significant effect on Tobin’s Q and ROE with 95% confidence level. However, CSR Index has no significant influence on ROA with 95% confidence level. Key words : CSR Index, Variabel Tobin’s Q, ROA, ROE

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