Firm Value, Efficiency Level, and Efficiency Change: A Global Perspective
碩士 === 國立中正大學 === 國際財務金融管理碩士學位學程 === 107 === This paper use data envelopment analysis (DEA) to estimate firm efficiency as the factors to conduct whether firm efficiency has an impact on firm value creation during 2003-2017. The linkage between firm efficiency and Market-to-Book is a positive relati...
| Main Authors: | , |
|---|---|
| Other Authors: | |
| Format: | Others |
| Language: | en_US |
| Published: |
2019
|
| Online Access: | http://ndltd.ncl.edu.tw/handle/af5ux5 |
| Summary: | 碩士 === 國立中正大學 === 國際財務金融管理碩士學位學程 === 107 === This paper use data envelopment analysis (DEA) to estimate firm efficiency as the factors to conduct whether firm efficiency has an impact on firm value creation during 2003-2017. The linkage between firm efficiency and Market-to-Book is a positive relationship. Next, I divide Market-to-Book into 5 groups from the lowest to highest ratio. The lowest and highest Market-to-Book ratio represent value and growth stock. Moreover, the relationship between firm efficiency and competition on firm value. I find that in high competitive market the greater firm efficiency, the higher value of the firm.
|
|---|