文章基本信息

标题：Information Content of Earnings and Operating Cash Flows: Evidence from the Tehran Stock Exchange
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作者：Abbasali Pouraghajan ; Milad Emamgholipour ; Faramarz Niazi 等
期刊名称：International Journal of Economics and Finance
印刷版ISSN：1916-971X
电子版ISSN：1916-9728
出版年度：2012
卷号：4
期号：7
页码：41
DOI：10.5539/ijef.v4n7p41
出版社：Canadian Center of Science and Education
摘要：
The main objective of this study is to evaluate the relative and incremental information content of earnings and operating cash flows in the companies listed in Tehran Stock Exchange. Moreover, the present study investigates the loss effect on the information content of earnings and operating cash flows. For this purpose, we investigate and analyze a sample of 475 firm-years from the companies listed in Tehran Stock Exchange during the years 2006-2010.The results indicate that, the earnings have more information content than operating cash flows in explaining stock returns. In addition, earnings model is preferable in explaining stock returns than operating cash flows model. Also, results show that earnings have positive effect and loss has negative effect on earnings information content and operating cash flows.
zed eco ? e feared LDCs fragile financial systems and their potential policy mismanagement given their lack of familiarity. Incongruously, markets have taken revenge on the “rentiers” and empirical evidence has shown that technocrats running the international financial system are also prone to big mistakes with adverse economic consequences.