THE ABILITY OF EARNINGS AND OPERATING CASH FLOWS IN EXPLAINING EX-POST INTRINSIC VALUE OF EQUITY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE

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FOROUGHI DARYOUSH; MAZAHERI E.

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Journal: Financial Accounting Research Year:2010 | Volume:1 | Issue:1-2 (6-7) Page(s): 1-16

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Title

THE ABILITY OF EARNINGS AND OPERATING CASH FLOWS IN EXPLAINING EX-POST INTRINSIC VALUE OF EQUITY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE

Author(s)

FOROUGHI DARYOUSH | MAZAHERI E. | Issue Writer Certificate

Keywords

EX-POST INTRINSIC VALUEQ3

TERMINAL VALUEQ3

ACCRUALSQ2

OPERATING PROFITQ3

OPERATING CASH FLOWQ3

Abstract

In new approaches of firm valuation, it is believed that intrinsic value of company is generally an appropriate criterion for prediction of future cash flow. Since the calculation of intrinsic value is a complex and highly specialized process, all investors cannot use this technique easily to make capital-related decisions. Therefore, this study was conducted to answer this question: Among the criteria such as OPERATING PROFIT and OPERATING CASH FLOW, which one can best describe intrinsic value? Answering this question leads to finding a proxy of intrinsic value in capital decision making. The research period is 9 years (from 1377 to 1386), which is divided into three equal sub-periods of three years, in order to calculate the intrinsic value. 153 firms in the first period, 170 in the second period and 140 in the third period were selected as the statistical sample. The results showed that OPERATING PROFIT could explain the intrinsic value per share better than OPERATING CASH FLOW.

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APA: Copy

FOROUGHI, DARYOUSH, & MAZAHERI, E.. (2010). THE ABILITY OF EARNINGS AND OPERATING CASH FLOWS IN EXPLAINING EX-POST INTRINSIC VALUE OF EQUITY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, 1(1-2 (6-7)), 1-16. SID. https://sid.ir/paper/155146/en

Vancouver: Copy

FOROUGHI DARYOUSH, MAZAHERI E.. THE ABILITY OF EARNINGS AND OPERATING CASH FLOWS IN EXPLAINING EX-POST INTRINSIC VALUE OF EQUITY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH[Internet]. 2010;1(1-2 (6-7)):1-16. Available from: https://sid.ir/paper/155146/en

IEEE: Copy

DARYOUSH FOROUGHI, and E. MAZAHERI, “THE ABILITY OF EARNINGS AND OPERATING CASH FLOWS IN EXPLAINING EX-POST INTRINSIC VALUE OF EQUITY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE,” JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, vol. 1, no. 1-2 (6-7), pp. 1–16, 2010, [Online]. Available: https://sid.ir/paper/155146/en

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