改进的Feltham-Ohlson模型及对我国信息技术类上市公司价值确定的实证研究  

Improving Feltham-Ohlson Model and Case Study on the Value Determination of IT Marketing Company

作　　者：吕思泓[1] 刘洪渭[2] 

机构地区：[1]天津大学管理学院,天津市250353 [2]山东大学管理学院,山东省济南市250100

出　　处：《曲阜师范大学学报（自然科学版）》2007年第3期57-61,共5页Journal of Qufu Normal University(Natural Science)

摘　　要：利用Feltham-Ohlson的实证模型对我国信息技术类上市公司的股票价格的确定能力进行了检验.进而,对模型进行简单变型,并检验了变型后的改进模型对股票价格确定的解释能力.结果表明,改进后的模型对于所研究企业的股价确定的解释能力大大提高了.在模型中加入了技术资本和技术类人力资源的两个解释变量,并就这两个变量对公司价值的影响进行了分析.In this paper, using the Feltham-Ohlson model the determination ability of stock price of IT marketing company in China is tested. Then, by simplifing the model, the explanation ability of the improving model to the stock price is tested. The result shows that the explanation ability of the improved model to the stock price of the enterprise is greatly raised. In order to strengthen the explanation ability of the model to the company＇s value, two explanation variables of technique capitals and human resources are added in view of the features of IT enterprises. The influence of the two variables on company＇s value is also analyzed.

关 键 词：FELTHAM-OHLSON模型 公司价值 信息技术 实证研究 

分 类 号：F23[经济管理—会计学]