摘要
本文运用1992:1—2002:4panel季度数据研究了我国上市公司Tobin’sQ与名义货币预期收益、实际利率和产出缺口的相关性。研究表明我国上市公司Tobin’sQ既包含与产品需求和实际利率相关的顺周期内容,也包含与货币供给、通货膨胀和债务融资相关的逆周期内容。
This article studies the correlation between the Tobin＇s Q Of China listed companies and nominal money expected return, and output, and real interest rate through panel quarter data from 1992：1 to 2002：4.The conclusion is that the Tobin＇s Q Of China listed companies contains both the pro-cyclical content related to product demand and real interest rate and the counter-cyclical content related to money supply, inflation and debt financing.
出处
《科技视界》
2011年第27期3-8,共6页
Science & Technology Vision
