The Effect of Changes in Various Assets of Balance Sheet on Firm Value

• Main Authors: Nien-Ying Yang, 楊念縈
• Other Authors: Yen-Sen Ni
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/20934978035792187126

碩士 === 淡江大學 === 管理科學學系碩士班 === 103 === By employing the firms listed in Taiwan Stock Exchange over the period 2009-2013 as our samples, this study investigates whether firm value would be affected by various assets in balance sheet. In this study, two aspects are classified for investigation. One is to explore whether the changes of diverse assets (i.e. stock change) would affect firm value, and the other is to examine whether the change of the ratios in term some asset items (i.e. ratio change), including cash over total assets, account receivable over total assets, and so on would affect firm value. The study reveals several important findings as shown below. First, as for the stock change, the study finds that inventory change would enhance firm value. Second, regarding to ratio change, the study reveals that not only would cash over asset ratio have positive impact on firm value, but also account receivable over asset ratio enhance firm value.