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Internal information and investment sensitivities to market value and cash flow

Heitzman, Shane; Huang, Mengjie - 2014

We ask whether the quality of internal information matters for investment decisions. We predict that investment is more sensitive to internal profit signals and less sensitive to external price signals when managers have higher quality internal information. Consistent with recent theoretical and...

Persistent link: https://www.econbiz.de/10010483655

Mandatory IFRS Adoption and the Usefulness of Accounting Information in Predicting Future Earnings and Cash Flows

Li, Siyi - 2017

We examine whether the mandatory adoption of International Financial Reporting Standards (IFRS) has changed the usefulness of accounting information in predicting future earnings and cash flows out-of-sample. Using a sample of firms from European Union countries that mandatorily adopted IFRS in...

Persistent link: https://www.econbiz.de/10012959107

Informative Content of Cash Flows in the Analysis of Risk

Terreno, Dante D. - 2018

The proposed of this paper is to determine the informative content of the cash flows related to the earnings of the process of explaining the firm's risk. The risk proxies used are Mark-to-Book, Market Beta, financial leverage and insolvency risk. The models are solved by the ordinary least...

Persistent link: https://www.econbiz.de/10012910897

The Information Content of Cash Flows Components and Accounting Earnings for Explaining Stock Market Activity : Egyptian Evidence

Magdy, Osama - 2021

bank size and stock return. There is a significant positive relationship between changes in each component of cash flows … and trading volume. There is a significant positive relationship between bank size and trading volume. There is a … positive relationship between bank size and trading value. There is a significant positive relationship between bank size and …

Persistent link: https://www.econbiz.de/10013243566

Understanding Bank Valuation : An Application of the Equity Cash Flow and the Residual Income Approach in Bank Financial Accounting Statements

Aggelopoulos, Eleftherios - 2016

The aim of this paper is to present a framework to bank valuation based on two generally acceptable valuation models … peculiarities that characterize the function of banking business and also the lack of information on critical bank financial data … by Dermine (2009) are used. The paper shows that both ECF and RI produce equivalent equity bank values. Given the recent …

Persistent link: https://www.econbiz.de/10012978034

Analysis of Cash Flow Statement – Use in Banking Industry for Appraisal of Loans & Advances

Kulkarni, Prasanna - 2016

procedure for this. The bank scrutinises financial statements and financial information of its customers before lending. The …

Persistent link: https://www.econbiz.de/10012982331

Bank Loan Covenant Measures and Mis-Measures

Sagner, James - 2010

Bank loan covenants are restrictions that require stated levels of performance by borrowers, and are often measured by …

Persistent link: https://www.econbiz.de/10013148955

Soft-talk management cash flow forecasts : bias, quality, and stock price effects

Dambra, Michael; Wasley, Charles E.; Wu, Joanna Shuang - 2011

We exploit a novel feature of management cash flow forecasts (MCFFs) to investigate how managers' discretion over forecast precision, clarity, and verifiability affects the bias, quality, and stock price effects of such forecasts. Many MCFFs are issued with an equivocal definition of the cash...

Persistent link: https://www.econbiz.de/10009571812

A new measure of equity duration : the duration-based explanation of the value premium revisited

Schröder, David; Esterer, Florian - 2012 - This version: February 29, 2012

This paper uses analysts' forecasts to estimate a share's equity duration, a measure of a company's average cash-flow maturity. We find that short duration equity is associated with high expected and realized returns, which cannot be attributed to the shares' systematic risk exposure as implied...

Persistent link: https://www.econbiz.de/10009671858

The Usefulness of Income Tax Disclosures Under IFRS versus U.S. GAAP for Predicting Changes in Future Earnings and Cash Flows

Atwood, T. J. - 2012

We examine whether income tax disclosures under International Financial Reporting Standards (IFRS) are useful for predicting changes in future earnings and cash flows, and whether such disclosures are more or less useful than disclosures made under U.S. Generally Accepted Accounting Principles...

Persistent link: https://www.econbiz.de/10013097465

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