ambiguities of Tobin's Q for performance evaluation

Tobin's Q is a main measure of performance evaluation. it was widely used by researcher in decade of 1970 and also two last decades. despite extensive use for performance evaluation , it has a series of problems hypogene . this paper expresses ambiguities Tobin's Q for performance evaluation.For this purpose, first theoretically expressed the endogenous problems of Qubin and then for experimental testing, the relationship between Qubin with ratios, cash, activity, profitability and investment in a sample of 48 companies listed on the Tehran Stock Exchange Between 1392 and 1395, it was studied in combination. The results of the analysis of research data showed that there is a positive and significant relationship between Q-Tobin and cash and profitability ratios. It was also shown that there is no significant relationship between Q-Tobin and activity and investment ratios.