Ertugrul, Melik; Coskun, Ali - In: International journal of management and economics 57 (2021) 1, pp. 3-13
The financial health hypothesis argues that the valuation multiple of book value of equity (earnings) increases … (decreases) as financial health decreases. By considering the liquidity dimension of financial health, we analyze an accrual … OCF ratio. As the latter is consistent with the financial health hypothesis, this study reveals that the OCF ratio is a …