Managers’ incentives for issuing cash flow forecasts

Q4 Economics, Econometrics and Finance

International Journal of Accounting, Auditing and Performance Evaluation Pub Date : 2014-04-01 DOI:10.1504/IJAAPE.2014.060202

Suzan Abed, C. Roberts, K. Hussainey

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引用次数: 11

Abstract

This study examines a recent change in voluntary disclosure by investigating the issuance of management cash flow forecasts for a sample of 690 UK non-financial firm-year observations which are drawn from the top 500 UK listed firms by total market capitalisation as listed by Financial Times on 30 March 2007. Automated content analysis is used to search for cash flow forecasts in annual reports narratives using QSR NVivo 8. The results of regression analysis provide support for institutional theory that companies try to imitate the disclosure practices of other companies in the same industry. Also, the results document that operating cash flow, industry behaviour, cross-listing, and company size are positively and significantly related to disclosure of cash flow forecasts, whereas performance and competition rate are negatively and significantly related to disclosure of cash flow forecasts. However, the results fail to find any significant relationship between normative or coercive isomorphism proxies and disclosure of cash flow forecasts.

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管理者发布现金流预测的动机

本研究通过对690家英国非金融公司年度观察样本的管理层现金流预测发布情况进行调查，考察了自愿披露方面的最新变化。这些样本来自英国《金融时报》2007年3月30日列出的总市值前500家上市公司。自动内容分析用于使用QSR NVivo 8在年度报告叙述中搜索现金流量预测。回归分析的结果为公司试图模仿同行业其他公司的披露行为的制度理论提供了支持。此外，研究结果表明，经营性现金流量、行业行为、交叉上市和公司规模与现金流量预测披露呈正相关，而业绩和竞争率与现金流量预测披露呈显著负相关。然而，结果没有发现规范性或强制性同构代理与现金流量预测披露之间的任何显著关系。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Accounting, Auditing and Performance Evaluation Economics, Econometrics and Finance-Finance

CiteScore

0.70

自引率

0.00%

发文量

期刊介绍： IJAAPE publishes original scholarly papers across the whole spectrum of: financial accounting, managerial accounting, accounting education, auditing, taxation, public sector accounting, capital market and accounting, accounting information systems, performance evaluation, corporate governance, ethics, and financial management. All methodologies, such as analytical, empirical, behavioural, surveys, and case studies are welcome. IJAAPE encourages contributions especially from emerging markets and economies in transition and studies whose results are applicable across nation states or capable of being adapted to the different accounting and business environments.