本研究是在探討複雜托賓Q值與簡單Q值間之相關性，並且以臺灣股票市場之上市公 司資料作實證研究。本研究之目的，是要提供一個托賓Q值之簡單計算公式，以取代複雜托賓 Q值。此簡單公式，僅須要公司之基本財務會計之資訊，即可計算出該公司之托賓Q值，以作 為評估企業及投資決策之參考。本研究之研究結果，是根據採用一系列之迴歸分析，來比較 簡單托賓Q值與複雜托賓Q值間之相關性，發現兩者間具有高度相關性。因此，簡單托賓Q值之 運用，可以用來取代複雜托賓Q值。
This paper studies the relationship between complex Tobin q values and simple q values through the data of Taiwan Stock Exchange (TWSE). It provides a simple formula for Tobin's q in order to replace complex Tobin's q. The formula only requires basic financial and accounting information to obtain the q value, which can be used to evaluate the performance of the company and to make the investment decision. The results of a series of regressions comparing our simple q values with those obtained via Lindenberg and Ross' equation indicate that there is very high observed correlation between the q values. Therefore, it reveals that complex q values can be replaced by simple q values in evaluating company's performance and decision- making.
