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On the Determinants of Tobin’s Q for Taiwanese Firms: Industry Concentration, Innovation Activities and Life-Cycle Stage

Po-Hsiung Huang et al.

Review of Pacific Basin Financial Markets and Policies2026https://doi.org/10.1142/s0219091526500165article
ABDC B
Weight
0.50

What the paper says

Our study tests the role that industry concentration (IC), corporate innovation activities (as measured by a firm’s research and development expense (RD)), and life-cycle stage play in determining the Tobin’s Q ratios of Taiwanese firms. We find that all three variables play a key role. To further investigate the relation between IC and RD, we conducted a generalized method of momentum (GMM) and a Granger noncausality test. Both tests indicate a unidirectional effect from RD to IC. We conclude that a firm’s industry structure, innovation activities, and life cycle stage are important factors when developing corporate strategy, making investment decisions, or setting government policy.

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Cite this paper

https://doi.org/https://doi.org/10.1142/s0219091526500165

Or copy a formatted citation

@article{po-hsiung2026,
  title        = {{On the Determinants of Tobin’s Q for Taiwanese Firms: Industry Concentration, Innovation Activities and Life-Cycle Stage}},
  author       = {Po-Hsiung Huang et al.},
  journal      = {Review of Pacific Basin Financial Markets and Policies},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1142/s0219091526500165},
}

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.