Unanswered Questions in Accounting and Tax

Hello,

I'm currently working on a dissertation about the influence of voluntary disclosure on firm value of belgian listed companies. I am using Tobin's Q as my dependent variable. In prior research, Tobin's Q was defined as the market value of a company devived by its replacement costs of assets. In my research, i am using a different calcutation. I use:

(market value of equity + book value of debts) / (book value of equity + book value of debts)

I was wondering how i can correctly interpretate this formula. I know the interpretation of the normal Tobin's Q but I think it's not applicable in my case.

In my research for example, I found out that voluntary disclosure does effect tobin's q (measured in my way) positively. So when a company does disclose more information voluntarely, it's q ratio gets higher. My question is, how does voluntary disclosure effect the tobin's q ratio I used in my research and what is the reason behind it. Why does the market value suddenly change?

Thanks in advance!

Hello,

I'm currently working on a dissertation about the influence of voluntary disclosure on firm value of belgian listed companies. I am using Tobin's Q as my dependent variable. In prior research, Tobin's Q was defined as the market value of a company devived by its replacement costs of assets. In my research, i am using a different calcutation. I use:

market value of equity + book value of debts

book value of equity + book value of debts

I was wondering how i can correctly interpretate this formula. I know the interpretation of the normal Tobin's Q but I think it's not applicable in my case.

In my research for example, I found out that voluntary disclosure does effect tobin's q (measured in my way) positively. So when a company does disclose more information voluntarely, it's q ratio gets higher. My question is, how does voluntary disclosure effect the tobin's q ratio I used in my research and what is the reason behind it. Why does the market value suddenly change?

Thanks in advance!