THE STUDY OF INCREMENTAL INFORMATION CONTENTS OF ACCRUALS ANOMALY IN COMPARISON TO OPERATING CASH FLOW

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HAGHIGHAT HAMID; BAKHTIARY MASOUD

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Paper Information

Journal: JOURNAL OF ACCOUNTING AND AUDITING RESEARCHES (ACCOUNTING RESEARCH) Year:2011 | Volume:3 | Issue:9 Page(s): 88-103

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Title

THE STUDY OF INCREMENTAL INFORMATION CONTENTS OF ACCRUALS ANOMALY IN COMPARISON TO OPERATING CASH FLOW

Author(s)

HAGHIGHAT HAMID | BAKHTIARY MASOUD | Issue Writer Certificate

Keywords

TOTAL ACCRUALSQ3

WORKING CAPITAL ACCRUALSQ2

ACCRUALS ANOMALYQ3

OPERATING CASH FLOWSQ3

Abstract

In this research we examined the incremental information contents of abnormal ACCRUALS ANOMALY and OPERATING CASH FLOWS in Tehran stock exchange (TSE) by considering the relations between future return and component of earnings by using rank models to control for any nonlinearity in the estimation of abnormal accruals and test hypothesizes by cross-sectional data during 1379 to 1386. Hence, abnormal accruals have been estimated with modified Jones model and two different approaches: a) TOTAL ACCRUALS and b) WORKING CAPITAL ACCRUALS. The results indicate that there is accrual anomaly only in the approach (a) and OPERATING CASH FLOWS doesn't subsume abnormal accruals in explaining future return in the approach (a). On the other hand, the results indicate that there is an incremental information content resulting from interaction between OPERATING CASH FLOWS and abnormal accruals in the approach (a), while there is no evidence of the incremental information content resulting from interaction between OPERATING CASH FLOWS and abnormal accruals in the approach (b). Also the result of paper indicate that in a multiple regression of future return on abnormal accruals and control variables including OPERATING CASH FLOWS, book-to-market ratio and sale growth, the coefficient on abnormal accruals is significant.

Cites

INCREMENTAL INFORMATION CONTENT OF EARNINGS AND CASH FLOWS FROM OPERATION AND THEIR EXTREMITY: EVIDENCE FROM TEHRAN STOCK EXCHANGE

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APA: Copy

HAGHIGHAT, HAMID, & BAKHTIARY, MASOUD. (2011). THE STUDY OF INCREMENTAL INFORMATION CONTENTS OF ACCRUALS ANOMALY IN COMPARISON TO OPERATING CASH FLOW. JOURNAL OF ACCOUNTING AND AUDITING RESEARCHES (ACCOUNTING RESEARCH), 3(9), 88-103. SID. https://sid.ir/paper/157362/en

Vancouver: Copy

HAGHIGHAT HAMID, BAKHTIARY MASOUD. THE STUDY OF INCREMENTAL INFORMATION CONTENTS OF ACCRUALS ANOMALY IN COMPARISON TO OPERATING CASH FLOW. JOURNAL OF ACCOUNTING AND AUDITING RESEARCHES (ACCOUNTING RESEARCH)[Internet]. 2011;3(9):88-103. Available from: https://sid.ir/paper/157362/en

IEEE: Copy

HAMID HAGHIGHAT, and MASOUD BAKHTIARY, “THE STUDY OF INCREMENTAL INFORMATION CONTENTS OF ACCRUALS ANOMALY IN COMPARISON TO OPERATING CASH FLOW,” JOURNAL OF ACCOUNTING AND AUDITING RESEARCHES (ACCOUNTING RESEARCH), vol. 3, no. 9, pp. 88–103, 2011, [Online]. Available: https://sid.ir/paper/157362/en

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