Jara Bertin, Mauricio; López Iturriaga, Félix J. - In: El Trimestre Económico LXXVIII (3) (2011) 311, pp. 643-674
Because information conveyed by corporate financial statements is highly influential and, thus, plays a central role in capital markets, we analyze the usefulness of reported earnings to measure firm performance as well as the ability of earnings to anticipate future cash flows. Specifically, we...