haku: @indexterm Profitability / yhteensä: 685
viite: 83 / 685
| Tekijä: | Fairfield, P. M. Whisenant, J. S. Yohn, T. L. |
| Otsikko: | Accrued Earnings and Growth: Implications for Future Profitability and Market Mispricing |
| Lehti: | Accounting Review
2003 : JAN, VOL. 78:1, p. 353-371 |
| Asiasana: | EARNINGS GROWTH PRICING PROFITABILITY |
| Kieli: | eng |
| Tiivistelmä: | Prior research reveals that the accrual component of profitability is less persistent than the cash flow component, and that investors fail to fully appreciate their differing implications for future profitability. However, accruals are a component of growth in net operating assets as well as a component of profitability. Just as the authors can disaggregate profitability into accruals and cash flows from operations, the authors can disaggregate growth in net operating assets into accruals and growth in long-term net operating assets. The authors find that, after controlling for current profitability, both components of growth in net operating assets-accruals and growth in long-term net operating assets-have equivalent negative associations with one-year-ahead return on assets. |
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