We examine whether analysts' cash flow forecasts improve firm value. First, we analyze whether the joint issuance of … financial analysts' earnings and cash flow forecasts improve firm value. Second, we analyze whether the quality of analysts …' cash flow forecasts improve firm value. The empirical results of our study are as follows. First, the joint issuance of …

We examine whether analysts' cash flow forecasts improve firm value. First, we analyze whether the joint issuance of … financial analysts' earnings and cash flow forecasts improve firm value. Second, we analyze whether the quality of analysts …' cash flow forecasts improve firm value. The empirical results of our study are as follows. First, the joint issuance of …

, especially more diversified ones, are more likely to issue cash-flow forecasts and use discounted cash-flow valuation models in …