Investment Performance of the World Automotive Industry

The automotive industry is referred to ”the industry of industries” around the world due both to its notable share in national economies and its multi-dimensional complexity such as advanced product design and manufacturing technologies, supply chain size and net-work, involvement of government and labor relations.


The paper examines the investment performance of the world automotive industry using a sample of 21 original equipment manufacturers (OEMs) based in three major continents, North America, Europe and Asia between the years 1999 and 2004.


1 Introduction
1.1 Definition of the Problem
1.2 Purpose of the Thesis
1.3 Outline of the Thesis
2 World Automotive Industry
2.1 American Automotive Industry
2.2 European Automotive Industry
2.3 Asian Automotive Industry
3 Theoretical Framework
3.1 The Shareholder Model
3.1.1 Using Marginal q rather than Tobin’s q
3.2 Hypothesis Formulation
3.3 Free Cash Flow
3.4 Previous Researches
4 Methodology, Data and Empirical Analysis
4.1 Marginal q Methodolody
4.2 Variables and Data
4.3 The Results of the Empirical Analyses
4.3.1 Regional Investment Performances World Automotive Industry (OEMs) Asian Automotive Industry Asian and North American Automotive Industry European Automotive Industry
4.3.2 The Inter-Regional Comparison of Investment Performance Europe and Asia Asia and North America
4.3.3 Debt Financing
5 Conclusion

Author: Yildiz, Cagri

Source: Jönköping University

Download URL 2: Visit Now

Leave a Comment