this study examines the role of growth and value stocks in liquidity and tobin's q ratio, and also the validity of claims existing difference between tobin q ratio of the two types of stocks in companies accepted in tehran stock exchange has been examined. the study period is between the years 1381 to 1390. we use pooled panel-data regression and egls and gmm methods to estimate the model ...

To study the impact of stochastic interest rates and capital illiquidity on investment and firm value, we incorporate a widely-used arbitrage-free term structure model of interest rates into a standard q-theoretic framework. Our generalized q model informs us to use corporate credit-risk information to predict investments when empirical measurement issues of Tobin’s average q are significant (e...

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The study focuses on whether the Corporate Governance characteristics influence firm performance of Non-Financial Firms in Pakistan. In this study, three types industries like pharmaceutical, cement, and food were analyzed from Pakistan Stock Exchange for period 2010 to 2019. authors used diagnostic test data that argued model is better, fixed effect or random-effect analysis. Multiple regressi...

This paper aims to explain the long-run determinants of euro area FDI to the United States during the period 1980-2001. The theoretical model developed in this paper incorporates the traditional FDI model based on the OLI-framework into the Tobin’s Q-model of investment. The model is estimated using the fixed effects panel estimator, with the euro area proxied by a panel involving most of the e...

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...