THE RELATIONSHIP BETWEEN TOBIN'S Q AND PERFORMANCE MEASURES IN IRAN

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KASHANIPOOR M.; RASAEIAN A.

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Journal: FINANCIAL ACCOUNTING Year:2009 | Volume:1 | Issue:3 Page(s): 131-146

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Information Journal Paper

Title

THE RELATIONSHIP BETWEEN TOBIN'S Q AND PERFORMANCE MEASURES IN IRAN

Author(s)

KASHANIPOOR M. | RASAEIAN A. | Issue Writer Certificate

Keywords

PERFORMANCE MEASUREMENTQ3

TOBIN'S QQ3

STOCK RETURNQ3

MARKET VALUE ADDEDQ2

RETURN ON ASSETSQ2

Abstract

PERFORMANCE MEASUREMENT has important role in financial decision making. There are various methods for PERFORMANCE MEASUREMENTs. But selecting one of them is the subject that leads to many researches in financial literature. The main goal of this paper is to survey the relationship between Tobin's-Q, as a measure of performance and STOCK RETURNs, MVA and ROA as other measures of performance. Therefore, 216 firms of population that their necessary information for an eleven years period was available are selected. Then information about 3 independent variables is studied and Tobin's-Q was measured as the dependent variable. Simple regression technique was used to test the hypotheses. The significance of the models was tested according to t-test and F-test. The conclusions indicate that there isn't any significant relationship between Tobin's-Q and annual STOCK RETURNs. There are significant and positive relationships between Tobin's-Q and MVA and ROA.

Cites

THE RELATIONSHIP BETWEEN CREATED SHAREHOLDER VALUE (CSV) AND PERFORMANCE EVALUATION MEASURES IN GROWTH AND VALUE COMPANIES

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APA: Copy

KASHANIPOOR, M., & RASAEIAN, A.. (2009). THE RELATIONSHIP BETWEEN TOBIN'S Q AND PERFORMANCE MEASURES IN IRAN. FINANCIAL ACCOUNTING, 1(3), 131-146. SID. https://sid.ir/paper/168218/en

Vancouver: Copy

KASHANIPOOR M., RASAEIAN A.. THE RELATIONSHIP BETWEEN TOBIN'S Q AND PERFORMANCE MEASURES IN IRAN. FINANCIAL ACCOUNTING[Internet]. 2009;1(3):131-146. Available from: https://sid.ir/paper/168218/en

IEEE: Copy

M. KASHANIPOOR, and A. RASAEIAN, “THE RELATIONSHIP BETWEEN TOBIN'S Q AND PERFORMANCE MEASURES IN IRAN,” FINANCIAL ACCOUNTING, vol. 1, no. 3, pp. 131–146, 2009, [Online]. Available: https://sid.ir/paper/168218/en

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