 Analyzing the influence of the funds' support on Tobin's q using SEM and fsQCAMarcos Vizcaíno and Juan P. Chousa Journal of Business Research, 2016, vol. 69, issue 6, 2118-2124 Abstract: This research uses structural equation modeling (SEM) and a fuzzy-set qualitative comparative analysis (fsQCA) method to analyze data about votes that funds emit in corporate meetings aiming to address the influence of the funds' support over the Tobin's q ratio. Whereas SEM investigates the connection between the variables, fsQCA focuses more in investigating qualitative effects. The sample contains data regarding United States banks during the 2003–2013 period. SEM results show that the funds' support is significant for the explanation of the Tobin's q ratio, showing a direct relation. Additionally, fsQCA results evidence that the funds' support, along with the leverage ratio and the return on equity ratio, explain Tobin's q during the 2003–2008 period. However, focusing on the 2009–2013 period, the funds' support is no longer an explanatory factor, indicating that the financial crisis has infringed a significant qualitative change into the antecedents of Tobin's q. Keywords: Funds' support; Tobin's q; SEM; fsQCA (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:69:y:2016:i:6:p:2118-2124 DOI: 10.1016/j.jbusres.2015.12.018 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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