Tobin’s Q Model and Cash Flows from Operating and Investing Activities in Listed Companies in Iran

Mahdi Salehi
Additional contact information
Mahdi Salehi: Zanjan University, Zanjan, Iran

Zagreb International Review of Economics and Business, 2009, vol. 12, issue 1, 71-82

Abstract: Tobin’s Q model is one of the economic models for evaluation of companies, proposed by Tobin in 1968 and represents the ratio of the market value of the companies’ shares plus the book value of its debts to the book value of its assets. It seems that one reason for the difference in abilities of the above said companies to produce cash from operating and investing activities. Therefore this research intends to find out a relationship between Tobin’s Q and cash flows from operating and investing activities so that market participants can gain necessary knowledge about market efficiency and choosing investment basket with the aid of it. The results obtained from the research shows that there is no relationship between Tobin’s Q ratios and cash flows from operating activities in the companies listed in TSE.

Date: 2009
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.efzg.hr/default.aspx?id=13724 (text/html)
Abstract only available on-line

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zag:zirebs:v:12:y:2009:i:1:p:71-82

Ordering information: This journal article can be ordered from
Zagreb International Review of Economics and Business, Faculty of Economics and Business, Trg J. F. Kennedy 6, 10000 Zagreb, Croatia.
http://www.efzg.hr/default.aspx?id=6045

Access Statistics for this article

Zagreb International Review of Economics and Business is currently edited by Soumitra Sharma

More articles in Zagreb International Review of Economics and Business from Faculty of Economics and Business, University of Zagreb Contact information at EDIRC.
Bibliographic data for series maintained by Jurica Šimurina ( this e-mail address is bad, please contact ).