教師資料查詢 | 類別: 期刊論文 | 教師: 葉怡成 YEH, I-CHENG (瀏覽個人網頁)

標題: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
語言英文
ISSN1350-4851
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
國別美國
公開徵稿
出版型式,電子版,紙本
相關連結
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