The Survey of Operating Cash Flows’ Ability to Meature Firm Performance during Periods of Financial Crises with Emphasis on Disclosure Qualification

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Seidkhani Reza; Mohammadi Malgharani Ataallah; AMINI PEYMAN

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Journal: The Financial Accounting and Auditing Researches Year:2021 | Volume:13 | Issue:49 Page(s): 147-176

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Information Journal Paper

Title

The Survey of Operating Cash Flows’ Ability to Meature Firm Performance during Periods of Financial Crises with Emphasis on Disclosure Qualification

Author(s)

Seidkhani Reza | Mohammadi Malgharani Ataallah | AMINI PEYMAN | Issue Writer Certificate

Keywords

Stock ReturnQ2

EPSQ2

OCFQ3

Financial DistressQ1

Ultra-Corporation Financial CrisisQ1

Abstract

Choosing the right index to evaluate performance has always been one of the most challenging topics in the field of capital market studies. Proving the ability of accounting profits or its derivatives to evaluate corporate performance and excellence in competing with other criteria is one of the major concerns of accounting researchers and investors. While profits are a major source of cash flow and wealth generation, the results of many studies have shown that operating cash flows seem to be more important in valuations apparently. Therefore, the main purpose of this study is to investigate the capability and superiority of operating cash flow (OCF) in performance appraisal on earning per share (EPS). The statistical population of the present study includes all non-financial corporations listed in Tehran Stock Exchange. According to Zmijewski’ s bankruptcy model, the firms of the sample are divided into two groups: safety (healthy) and Financial Distressed companies and research’ s time period is divided into two parts as normal and crises period. Based on the selected sample and the use of multiple regression tests, the research findings show that before disclosure quality index, the EPS criterion outperforms the OCF criterion. However, in the absence of disclosure quality, naturally due to uncertainty, performance measurement based on operating cash flows becomes more important than the EPS.

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APA: Copy

Seidkhani, Reza, Mohammadi Malgharani, Ataallah, & AMINI, PEYMAN. (2021). The Survey of Operating Cash Flows’ Ability to Meature Firm Performance during Periods of Financial Crises with Emphasis on Disclosure Qualification. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, 13(49 ), 147-176. SID. https://sid.ir/paper/393082/en

Vancouver: Copy

Seidkhani Reza, Mohammadi Malgharani Ataallah, AMINI PEYMAN. The Survey of Operating Cash Flows’ Ability to Meature Firm Performance during Periods of Financial Crises with Emphasis on Disclosure Qualification. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES[Internet]. 2021;13(49 ):147-176. Available from: https://sid.ir/paper/393082/en

IEEE: Copy

Reza Seidkhani, Ataallah Mohammadi Malgharani, and PEYMAN AMINI, “The Survey of Operating Cash Flows’ Ability to Meature Firm Performance during Periods of Financial Crises with Emphasis on Disclosure Qualification,” THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, vol. 13, no. 49 , pp. 147–176, 2021, [Online]. Available: https://sid.ir/paper/393082/en

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