Equity Valuation Model of LED Industry

• Main Authors: Lu-Si Huang, 黃露嬉
• Other Authors: Chung-Jen Fu
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/22149146360971692083

碩士 === 國立雲林科技大學 === 會計系碩士班 === 100 === This paper discusses other information as part of Ohlson (1995) evaluation model to be the effective operation of the light emitting diode (Light Emitting Diode, LED) industry companies the object of empirical analysis. When Ohlson equity valuation model proposed, there is many study based on this model; except for the additional information part of how to do research is very rare, most people do not know how to operationalize. In this study, relatively high proportion of the value of other information, and the recent booming LED industry analysis, try to give other information of value to effect the efficient operation of the method. Attempt to distinguish the other information four dimensions, the company, the industrial, overall, regulations and the policy side, respectively. Companies proxy variables include capacity utilization, technological development, the management team, financial leverage; the industrial proxy variables including industry, the supply; the overall proxy variables include gross domestic product, international oil prices, consumers price index, exchange rates, interest rates. The results show that the company face of capacity utilization was significantly positively correlated with the value of the company, the industrial and industry conditions and the supply was also a significant positive correlation, interest rate of the overall surface variables and the variables of the regulations and policies was positively correlated with the value of the company believe that through the analysis in this paper can provide the practical and academic circles to how it should be for other information part of the operating reference.