Value Relevance of Tobin’s Q and Corporate Governance for the Taiwanese Tourism Industry
For knowledge- and invention-based industries, scholars have introduced the firm value, which is composed of traditional financial capital and intangible intellectual capital, and Tobin’s Q, which is the commonly used approach for intellectual capital valuation. Scholars have thus evaluated firm val...
| Auteur principal: | |
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| Type de support: | Électronique Article |
| Langue: | Anglais |
| Vérifier la disponibilité: | HBZ Gateway |
| Journals Online & Print: | En cours de chargement...
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| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Publié: |
2015
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| Dans: |
Journal of business ethics
Année: 2015, Volume: 130, Numéro: 1, Pages: 223-230 |
| Sujets non-standardisés: | B
Firm valuation
B Tourism Industry B G32 B G34 B Tobin’s Q B intellectual capital B Gouvernement d'entreprise |
| Accès en ligne: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Résumé: | For knowledge- and invention-based industries, scholars have introduced the firm value, which is composed of traditional financial capital and intangible intellectual capital, and Tobin’s Q, which is the commonly used approach for intellectual capital valuation. Scholars have thus evaluated firm valuation appropriately by considering corporate governance. This study applies the multi-regression model to present a discussion on the value relevance of intellectual capital and corporate governance concerning the tourism industry in Taiwan. The results show that intellectual capital is positively related to firm valuation, and that corporate governance influences the positive relationship between intellectual capital and firm valuation. The tourism industry must focus on intellectual capital and corporate governance. |
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| ISSN: | 1573-0697 |
| Contient: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-014-2339-9 |