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| Tekijä: | Lee, D. Tompkins, J. |
| Otsikko: | A modified version of the Lewellen and Badrinath Measure of Tobin's Q |
| Lehti: | Financial Management
1999 : SPRING, VOL. 28:1, p. 20-31 |
| Asiasana: | FINANCIAL MANAGEMENT MEASUREMENT ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | Lewellen and Badrinath (1997) propose a superior method of measuring Tobin's Q. Unfortunately, their method is prone to a high percentage of missing observations and results in selecting samples of larger and more mature firms with lower Q statistics. The authors propose a slight modification that preserves the appeal of their method, yet almost doubles the sample size, avoids sampling problems, and is statistically indistinguishable from their Q measure. |
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