Building growth and value hybrid valuation model with errors-in-variables regression
學年 106
學期 2
出版（發表）日期 2018-06-29
作品名稱 Building growth and value hybrid valuation model with errors-in-variables regression
作品名稱（其他語言）
著者 Derick Kong; Lin, Cheng Ping; Yeh, I-Cheng; Chang, Wei
單位
出版者
著錄名稱、卷期、頁數 Applied Economics Letters 26(5), p.370-386
摘要 Growth value model (GVM) considers stock intrinsic value as the synergy of book value and return on equity (ROE), which contains two parameters, value factor and growth factor. This study addresses the problem of independent variables having measurement errors by utilizing errors-in-variables regression to estimate accurate model parameters. Research findings show the following: (1) The regression curve derived by traditional regression analysis exhibits severe bias. Errors-in-variables regression is capable of correcting the bias. (2) Large-scale firms exhibit lower value factor and higher growth factor, which indicates that large-scale firms possess better profit persistence.
關鍵字 Valuation;book value;return on equity;market value;errors-in-variables JEL CLASSIFICATION: G12;G14
語言 en
ISSN 1350-4851
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者 I-Cheng Yeh
審稿制度 是
國別 USA
公開徵稿
出版型式 ,電子版,紙本
相關連結

機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/117137 )

SDGS 尊嚴就業與經濟發展,產業創新與基礎設施