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dc.creatorArnedo Ajona, Lauraes_ES
dc.creatorLizarraga Dallo, Fermínes_ES
dc.creatorSánchez Alegría, Santiagoes_ES
dc.date.accessioned2018-11-27T11:22:20Z
dc.date.available2018-11-27T11:22:20Z
dc.date.issued2012
dc.identifier.issn1869-4187 (Print)
dc.identifier.issn1869-4195 (Electronic)
dc.identifier.urihttps://hdl.handle.net/2454/31502
dc.description.abstractThe aim of this study is to determine whether accruals have information value beyond that provided by isolated current cash flows for the prediction of future cash flows. Using a sample of 4,397 Spanish companies (mostly privately held), we estimate in-sample regressions of future cash flows on isolated current cash flows and on accrual-based earnings. We then find that the out-of-sample prediction errors provided by the accrual-based earnings model are significantly lower than those obtained with the cash flows model. We also regress the decrease in prediction errors brought about by the addition of accruals on a set of firm-specific circumstances where accounting manipulation is expected. In all cases the decrease in prediction errors is significantly affected in the hypothesized direction.en
dc.description.sponsorshipThis study has been carried out with the Financial support of the Government of Navarra (Ayudas a proyectos de investigación, convocatoria 2007) and from the Ministry of Science and Innovation (ECO2010-21627).en
dc.format.extent22 p.
dc.format.mimetypeapplication/pdfen
dc.language.isoengen
dc.publisherSpringeren
dc.relation.ispartofSERIEs, (2012) 3:499–520en
dc.rights© The Author(s) 2011. This article is distributed under the terms of the Creative Commons Attribution License which permits any use, distribution and reproduction in any medium, provided the original author(s) and source are credited.en
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectCash flowsen
dc.subjectAccrualsen
dc.subjectPredictionen
dc.titleThe role of accounting accruals for the prediction of future cash flows: evidence from Spainen
dc.typeinfo:eu-repo/semantics/articleen
dc.typeArtículo / Artikuluaes
dc.contributor.departmentUniversidad Pública de Navarra. Departamento de Gestión de Empresases_ES
dc.contributor.departmentNafarroako Unibertsitate Publikoa. Enpresen Kudeaketa Sailaeu
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessen
dc.rights.accessRightsAcceso abierto / Sarbide irekiaes
dc.identifier.doi10.1007/s13209-011-0070-7
dc.relation.publisherversionhttps://doi.org/10.1007/s13209-011-0070-7
dc.type.versioninfo:eu-repo/semantics/publishedVersionen
dc.type.versionVersión publicada / Argitaratu den bertsioaes
dc.contributor.funderGobierno de Navarra / Nafarroako Gobernuaes


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© The Author(s) 2011. This article is distributed under the terms of the Creative Commons Attribution License which permits any use, distribution and reproduction in any medium, provided the original author(s) and source are credited.
Except where otherwise noted, this item's license is described as © The Author(s) 2011. This article is distributed under the terms of the Creative Commons Attribution License which permits any use, distribution and reproduction in any medium, provided the original author(s) and source are credited.