This study examines the relevance of "Financial Accounting Standards (SFAS) No. 95" operating cash flow disclosures for assessing a primary component of firm risk, namely credit risk. We find that "SFAS No. 95" operating cash flows is an important determinant of credit risk, measured by debt...

This surveys reviews research regarding the role of financial analysts in capital markets. The survey builds on the perspectives provided by Schipper (1991) and Brown (1993). We categorize papers published mainly since 1992 and selectively discuss aspects of these papers that address or suggest...

type="main" <title type="main">ABSTRACT</title> <p>This paper decomposes the cash component of earnings and analyzes persistence characteristics and pricing implications of various subcomponents, with particular attention to changes in cash. Changes in underlying fundamentals might dictate changes in cash to new optimal...</p>