the purpose of this study is to investigate the relationship between free cash flows and stock return considering managers' myopia. two hypotheses have been designed and tested, selecting 96 firms from accepted companies in the tehran stock exchange for six-year period from 2005 to 2010 and using stock return for three years ahead (to 2012). the results show that free cash flows are negati...

in this paper disposition effect, selling winners and holding losers, in tehran stock exchange (tse) investment companies and its effect on these companies’ cash flows and performance using odean model has been reviewed and investigated. research findings show that the realized profit ratio is %19 higher than the realized loss ratio in all of investment companies in tse. this mean there is a be...

1.0 INTRODUCTION In the past few decades, U.S. businesses have made large investments in information technology (IT), without decisive evidence about the value of such investments [1]. A natural question that arises in this context is whether managers have wasted organizational resources through large investments in IT. In his well-known free cash flow hypothesis, Michael Jensen argues that man...

journal of accounting advances (j.a.a) vol. 5, no. 1, 2013, ser. 64/3     extended abstract   a study of characteristics of interim cash flow series and their proxies and the ability to predict them            dr. m. a. aghaei              v. ahmadian             f. daviran tarbiat modares university   introduction the predicting of annual and interim cash flows from operations is one of the mo...

We construct empirical proxies for cash-flow timing and matching problems and provide evidence on the ability of this accrual generating factor to explain accruals. Researchers lament our meager understanding of the process that spawns accruals (Owens et al., 2013, Ball, 2013, McNichols, 2000). Our aim is to map the explanatory power boundaries demarcated by our current knowledge of the role of...

Reliability and efficacy of accruals and cash flows which are among the most important factors affecting dividend deviation have always been in question and subject to anomalies. The presence of these anomalies in accruals and cash flows and its effect on future returns and the consequences that they can have in country’s investments are the main motives to choose this issue for the current stu...