상장된 음식료업종의 주식수익률과 투자지표 간의관련성에 관한 연구

The purpose of the current study was to analyze the relevance between the return on stock and investment indicators such as EPS, BPS, PER, PBR, PSR, EVA and ROIC for rapid growing food and beverage industry. The financial data of 43 listed food & beverage firm on the stock market were utilized. First, Except for return on stock and PER, investment indicator of beverage firm showed better than other firms. In the adoption primary business of alcoholic drinks, beverage firm dose not affected market conditions. Second, in the multiple regression analysis of the relevance between return on stock and investment indicators, food and beverage industry did not showed that EVA is superior to other investment indicators. Such results can be explained that investors still consider firm performance rather than firm value to make a decision for their investment. In the previous studies evaluated the relevance between return on stock and EVA, investors will be cautious decisions in evaluating investment indicator using EVA.