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Dynamic effect of Tobin's Q on price-to-earnings ratio

Sum, Vichet - In: Managerial Finance 40 (2014), pp. 634-643

Purpose - The purpose of this paper is to investigate the dynamic effect of Tobin's q ratio on price-to-earnings (PE) ratio. Design/methodology/approach -The objective of this study is to investigate the dynamic effect of Tobin's q on PE ratio. To achieve this objective, a vector autoregressive...

Persistent link: https://www.econbiz.de/10010778790

BE/ME and E/P work better than ME/BE or P/E in regressions

Musumeci, Jim; Peterson, Mark - In: Journal of Corporate Finance 17 (2011) 5, pp. 1272-1288

Researchers often form ratios of variables to measure firm characteristics, but which ratios create the most powerful tests? For example, if we use ratios of book value of equity (BE) and market value of equity (ME), or earnings (E) and price (P), does it matter which variable appears in the...

Persistent link: https://www.econbiz.de/10010574264

Investment, Q und Liquidity, Evidence for Germany Using Firm Level Balance Sheet Data

Behr, Andreas - In: Journal of Economics and Statistics (Jahrbuecher fuer … 225 (2005) 1, pp. 2-21

We analyse the investment behavior of German firms within the framework of the Q-theory. Because we use anonymous … influence. While this study supports the Q-theory of investment, no evidence is found to support the effectiveness of a balance …

Persistent link: https://www.econbiz.de/10005668441

Gesamtwirtschaftliche Folgen von Vermögensblasen im internationalen Vergleich

Bandholz, Harm; Hülsewig, Oliver; Illing, Gerhard; … - ifo Leibniz-Institut für Wirtschaftsforschung an der …

Die vorliegende Studie wurde im Arbeitsbereich "Konjunktur und Finanzmärkte" erstellt und im Dezember 2005 abgeschlossen. Auftraggeber war das Bundesministerium der Finanzen. Gegenstand der Studie sind die Auswirkungen von Vermögenspreisschwankungen auf die gesamtwirtschaftliche Aktivität. In...

Persistent link: https://www.econbiz.de/10008791372