We develop a dynamic incomplete-markets model where an entrenched insider, facing imperfect investor protection and non-diversifiable illiquid business risk, makes interdependent consumption, portfolio choice, expropriation, corporate investment, ownership, and business exit decisions. Unlike in the first-best, the insider’s tradeoff between private benefits and under-diversification costs lead...

Yatırımcıların, yatırım tercihleri arasında doğru kararlar verebilmesi ve beklenilen finansal başarı düzeyine ulaşabilmeleri firmaların performanslarının ölçümü ile yakından ilişkilidir. Finansal performans ölçümünde yaygın olarak kullanılan Tobin Q gelecek göstergesi niteliğinde kabul edilmektedir. Borsa İstanbul bünyesinde işlem gören Kağıt Ürünleri Sanayi sektöründe yer alan yedi adet firman...

The microalgal division Haptophyta uses a range of nutritional sourcing, including mixotrophy. The genome of a member of this taxon, Chrysochromulina tobin, suggests that interactions with its bacterial cohort are critical for C. tobin physiology. Here, we report the genomes of eight bacterial species in coculture with C. tobin.

El objetivo de este trabajo es analizar la relación entre independencia junta directiva y el desempeño financiero (variables ROA, ROE Q Tobin). Se usaron dos perspectivas independencia: por un lado, Ley 964 2005, obligatoria en mercado valores colombiano; otro, una perspectiva ampliada que incluyó relaciones negocios (directorios cruzados, antigüedad), financieras (paquetes compensación, partic...

Penelitian ini dilakukan untuk menganalisis pengaruh struktur modal terhadap kinerja perusahaan. Variabel diwakili oleh ekuitas total aset (EC), rasio leverage (LR), jangka panjang (LAR). Sampel penelitian adalah Perusahaan Farmasi yang terdaftar di Bursa Efek Indonesia (BEI) periode 2018-2021. Jumlah Observasi sebanyak 40 ditentukan dengan metode purposive sampling. Kinerja perusahaan diukur b...

The objective of the researchers in this article is to explore relationship board characteristics (board size, meeting, number committees, independence) on firm performance (ROA & Tobin’s Q) Saudi Capital-Intensive Industries for data period 2017-2020. Many have tried measure earlier research papers, but not been exclusively tested so far. This paper aims at filling gap and ex...

Tobin’s Q model is one of the economic models for evaluation of companies, proposed by Tobin in 1968 and represents the ratio of the market value of the companies’ shares plus the book value of its debts to the book value of its assets. It seems that one reason for the difference in abilities of the above said companies to produce cash from operating and investing activities. Therefore this res...