| Summary: | 碩士 === 國立交通大學 === 管理學院財務金融學程 === 100 === This paper examines the reciprocal relationships between the ratio of Tobin’s Q and firm attributes using the top thirty companies of the annual earnings per share as the sample. The yearly data are drawn from the database of TEJ from 2001 to 2010 for a total sample size of 148 companies. Firm attributes we used include industry category, capital size, IPO years, debt ratio, earning stability, revenue growth, corporate governance, etc. Dependent on selected frequency, the sample are distinguished into two categories：stable, unstable；technology industry and non-technology industry. We analysis if there are any different effective for Tobin's Q in different categories.
The results are as follows：1. Category of technology industry and stable have significantly better performance on Tobin's Q. 2. IPO years and debt ratio have negative effect on Tobin's Q. Earning stability and revenue growth have positive effect on Tobin's Q. 3. Board ownership have negative effect on Tobin's Q；manager ownership have positive effect on Tobin's Q.
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