العوامل المؤثرة في الأداء المالي للشركات غير المالية المدرجة في بورصة فلسطين باستخدام نموذج Tobin's Q

الملخص EN

Aim of the paper : the study aims to identify factors that affect financial performance of non-financial firms listed in Palestine Exchange using Tobin’s Q model.

Study Design : the study adopted the standard analytical approach and random effect model to examine, investigate and analyze the data using the statistical software E-VIEWS8.

Sample and Data : the sample consists of non-financial firms listed in Palestine Exchange for the years 2010-2016, wich consist of (16) firms according to Palestine Exchange documents.

Results : the results indicated that there is a positive statistical significance effect of independent variables (productivity, cash dividend ratio, cash flow ratio) on financial performance.

By contrast, there is a negative impact of the independent variables (size and profitability) on financial performance.

Conclusion : the study recommended non-financial firms should increase their capacity in order to upgrade their productions, distribute cash dividends to shareholders at the end of each year, and to manage their cahs flows efficiently.

Also, the study recommended using the Tobin’s Q model to measure the market value of firms.