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| Tekijä: | Garrod, N. Hadi, M. |
| Otsikko: | Investor response to cash flow information |
| Lehti: | Journal of Business Finance and Accounting
1998 : JUN/JUL, VOL. 25:5-6, p. 613-630 |
| Asiasana: | INDUSTRIES INVESTMENTS CASH FLOW STANDARDS UNITED KINGDOM |
| Kieli: | eng |
| Tiivistelmä: | In the study, the usefulness of cash flow data as required by the UK standard (FRS1) is evaluated. Also, cash flow per share is investigated as a possible specification of cash flow data that might contain information value for security markets. There are recent innovation in earnings response models used. The findings of the study indicate that the disaggregation of cash flow as required under FRS1 contains information beyond aggregate cash flow. However, the required disaggregation is not optimal from an information standpoint. There is little evidence of any incremental information value of cash flow per share over cash flow numbers. |
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