exploration activities. The implication is that two otherwise identical companies can report substantially different earnings … to evaluate oil company financial performance since cash flows are less affected by managers’ discretion than earnings … are. In this study, we investigate the relevance to investors of earnings versus cash flow for oil and gas companies. Our …

discretionary accruals in Chinese listed companies. Moreover, we document that Chinese CSR active firms engage more in earnings … management through discretionary accruals than CSR inactive firms. These findings are consistent with the opportunistic financial …