Cash Flow is King? Comparing Valuations Based on Cash Flow Versus Earnings Multiples
نویسندگان
چکیده
منابع مشابه
Earnings Volatility, Cash Flow Volatility, and Informed Trading
I examine whether earnings that are smoother or more volatile than cash flows provide or garble information. Consistent with theories that predict more informed trading when public information is less informative, I find that bid-ask spreads and the probability of informed trading are higher both when earnings are smoother than cash flows and also when earnings are more volatile than cash flows...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2006
ISSN: 1556-5068
DOI: 10.2139/ssrn.926428