期刊論文
| 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 ) |