FUTURE CASH FLOWS, ABNORMAL ACCRUALS AND BANKRUPTCY RISK

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SAGHAFI A.; MOHAMMADI A.

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Paper Information

Journal: Financial Accounting Research Year:2012 | Volume:4 | Issue:3 (13) Page(s): 1-12

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Information Journal Paper

Title

FUTURE CASH FLOWS, ABNORMAL ACCRUALS AND BANKRUPTCY RISK

Author(s)

SAGHAFI A. | MOHAMMADI A. | Issue Writer Certificate

Keywords

EARNINGS QUALITYQ2

NORMAL ACCRUALSQ2

ABNORMAL ACCRUALSQ2

BANKRUPTCY RISK AND FUTURE CASH FLOWSQ2

Abstract

In recent studies, findings show that ABNORMAL ACCRUALS have incremental information content about future cash flows. In other word, ABNORMAL ACCRUALS are not from misestimate and have news about future cash flows. Therefore, in the present study, we test information content of ABNORMAL ACCRUALS in predicting future cash flows in Tehran Stock Exchange. This paper empirically investigates whether ABNORMAL ACCRUALS for the companies listed in Tehran Stock Exchange (TSE) during 1380-1389 provide incremental insight into future cash flows. Results show a significant positive association between ABNORMAL ACCRUALS and one-year-ahead operating cash flows. This provides a rationale for the pricing of ABNORMAL ACCRUALS by the market and suggests that ABNORMAL ACCRUALS are not merely the products of noise in the accruals-estimation process. However, these results are conditional upon the probability of one-year-ahead bankruptcy risk.

Cites

THE EFFECT OF SHORT-TERM, MEDIUM, AND LONG-TERM TIME HORIZONS ON THE PREDICTION OF FUTURE CASH FLOWS: A COMPARATIVE STUDY OF THE ABILITY OF OPERATING EARNINGS AND CASH FLOWS

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APA: Copy

SAGHAFI, A., & MOHAMMADI, A.. (2012). FUTURE CASH FLOWS, ABNORMAL ACCRUALS AND BANKRUPTCY RISK. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, 4(3 (13)), 1-12. SID. https://sid.ir/paper/155190/en

Vancouver: Copy

SAGHAFI A., MOHAMMADI A.. FUTURE CASH FLOWS, ABNORMAL ACCRUALS AND BANKRUPTCY RISK. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH[Internet]. 2012;4(3 (13)):1-12. Available from: https://sid.ir/paper/155190/en

IEEE: Copy

A. SAGHAFI, and A. MOHAMMADI, “FUTURE CASH FLOWS, ABNORMAL ACCRUALS AND BANKRUPTCY RISK,” JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, vol. 4, no. 3 (13), pp. 1–12, 2012, [Online]. Available: https://sid.ir/paper/155190/en

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