The impact of the quality of earnings on the valuation relevance of cash flow disclosures

British Accounting Review

Volumn 31, Issue 4, 1999, Pages 387-413

  Green, J Peter ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0347177240     PISSN: 08908389     EISSN: None     Source Type: Journal    
DOI: 10.1006/bare.1999.0114     Document Type: Article

References (43)

1. 'Statement of Principles'. (1995);ASB, London.
2. 'Cash Flow Statements'. (1996);ASB, London.
3. Agnes Cheng C.S., Liu C.S, Schaefer T.F. 'Earnings permanence and the incremental information content of cash flows from operations'. Journal of Accounting Research. (1996);173-181.
4. Agnes Cheng C.S., Liu C.S, Schaefer T.F. 'The value-relevance of SFAS no. 95 cash flows from operations as assessed by security market effects'. Accounting Horizons. (1997);1-15.
5. Ali A. 'The incremental information content of earnings, funds flow and cash flow'. Journal of Accounting Research. (1994);61-74.
6. Ali A., Hwang L.S. 'Accruals management and the incremental information content of earnings and cash flow from operations'. Paper presented at the Annual Conference of the American Accounting Association. (1994).
7. Ali A., Pope P.F. 'The incremental information content of earnings, funds flow and cash flow: the UK evidence'. Journal of Business Finance and Accounting. 22:(1995);19-34.
8. Ali A., Zarowin P. 'Role of earnings levels in annual earnings - return studies'. Journal of Accounting Research. 30:(1992);286-296.
9. Arnold A.J., Clubb C.D.B., Manson S., Wearing R.T. 'The relationship between earnings, fund flow and cash flow: evidence for the UK'. Accounting and Business Research. 22:(1991);13-19.
10. Bernard V.L., Stober T.L. 'The nature and amount of information in cash flows and accruals'. The Accounting Review. (1989);624-652.
11. Board J.L.G., Day J.F.S. 'The information content of cash flow figures'. Accounting and Business Research. (1989);3-11.
12. Board J.L.G, Day J.F.S., Walker M. 'The Information Content of Unexpected Accounting Income, Funds Flow and Cash Flow: Comparative Evidence for the US and UK Economies'. (1989);Institute of Chartered Accountants in England and Wales.
13. Bowen R.M., Burgstahler D., Daley L.A. 'Evidence on the relationships between earnings and various measures of cash flow'. The Accounting Review. (1986);713-725.
14. Bowen R.M., Burgstahler D., Daley L.A. 'The incremental information content of accrual versus cash flows'. The Accounting Review. (1987);723-747.
15. Brown L.D., Griffin P.A., Hagerman R.L., Zmijewski M.E. 'An evaluation of the alternative proxies for the market's assessment of unexpected earnings'. Journal of Accounting and Economics. 9:(1987);159-193.
16. Buse A. 'Goodness-of-fit in the seemingly unrelated regressions model: a generalization'. Journal of Econometrics. 10:(1979);109-114.
17. Charitou A. 'The role of cash flows and accruals in explaining security returns: evidence for the UK'. The European Accounting Review. 6:(1997);629-652.
18. Clubb C. 'An empirical study of the information content of accounting earnings, funds flows and cash flows in the UK'. Journal of Business Finance and Accounting. 22:(1995);35-52.
19. Clubb C. 'Discussion of the incremental information content of accruals: evidence based on the exponential smoothing of levels and trends in pre-tax earnings, funds flow and cash flow'. Journal of Business Finance and Accounting. 24:(1997);1169-1175.
20. Dechow P.M. 'Accounting earnings and cash flows as measures of firm performance. The role of accounting accruals'. Journal of Accounting and Economics. 18:(1994);3-42.
21. Donnelly R., Walker M. 'Earnings persistence, firm size, and the information in prices about future earnings'. Journal of Business Finance and Accounting. 22:(1995);3-18.
22. Easton P.D., Harris T.S. 'Earnings as an explanatory variable for returns'. Journal of Accounting Research. 11:(1991);19-36.
23. Froot K.A. 'Consistent covariance matrix estimation with cross-sectional dependence and heteroskedasticity in financial data'. Journal of Financial and Quantitative Analysis. 24:(1989);333-355.
24. Guilkey D.K., Schmidt P. 'Estimation of seemingly unrelated regressions with vector autoregressive error'. Journal of American Statistical Association. 68:(1973);642-647.
25. Gujarati D.N. 'Basic Econometrics'. (1988);McGraw-Hill International Editions.
26. Harmon W.K. 'Earnings vs funds flows: an empirical investigation of market reaction'. Journal of Accounting, Auditing and Finance. (1984);24-34.
27. Jennings R. 'A note on interpreting incremental information content'. The Accounting Review. 65:(1990);925-932.
28. Jensen M.C. 'Agency costs of free cash flow, corporate finance and takeovers'. American Economic Review. (1986);323-329.
29. Judge G.G., Griffiths W.E., Hill C., Lutkepohl H., Lee T.C. 'The Theory and Practice of Econometrics'. (1985);John Wiley and Sons.
30. Kmenta J. 'Elements of Econometrics'. (1986);MacMillan Publishing Co., Inc. New York. p. 618-622.
31. Kothari S.P. 'Price-earnings regressions in the presence of prices leading earnings'. Journal of Accounting and Economics. 15:(1992);173-202.
32. Lipe R.C. 'The information contained in the components of earnings'. Journal of Accounting Research. (1986);37-64.
33. Maddala G.S. 'Introduction to Econometrics'. (1992);Maxwell MacMillan International Editions.
34. McLeay S., Kassab J., Helan M. 'The incremental information content of accruals: evidence based on the exponential smoothing of levels and trends in pre-tax earnings, funds flow and cash flow'. Journal of Business Finance and Accounting. (1997).
35. Ohlson J.A. 'The theory of value and earnings, and an introduction to the ball-brown analysis'. Contemporary Accounting Research. 8:(1991);1-19.
36. Ohlson J.A., Shroff P.K. 'Changes versus levels in earnings as explanatory variables for stock returns: some theoretical considerations'. Journal of Accounting Research. 30:(1992);210-226.
37. Rayburn J. 'The association of operating cash flow and accruals with security returns'. Journal of Accounting Research. (1986);112-133.
38. Shazam. Department of Economics. (1997);University of British Columbia.
39. Schaefer T., Kennelley M. 'Alternative cash flow measures and risk-adjusted returns'. Journal of Accounting, Auditing and Finance. (1986);278-287.
40. Strong N.C., Walker M. 'The explanatory value of earnings for stock returns'. The Accounting Review. 68:(1993);385-399.
41. White H. 'A heteroskedasticity consistent covariance matrix estimator and a direct test of heteroskedasticity'. Econometrica. 48:(1980);817-838.
42. Wilson G.P. 'The relative information content of accruals and cash flows: combined evidence at the earnings announcement and annual report release date'. Journal of Accounting Research. (1986);165-200.
43. Wilson G.P. 'The incremental information content of the accrual and funds components of earnings after controlling for earnings'. The Accounting Review. (1987);293-322.