应计项目、现金流量和股票收益:来自BIST 100的证据

IF 1.1 Q3 ECONOMICS

Macroeconomics and Finance in Emerging Market Economies Pub Date : 2021-10-04 DOI:10.1080/17520843.2021.1983702

Emine Kaya

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引用次数: 0

摘要

摘要本研究的目的是确定2005年至2017年间，BIST 100指数交易公司的应计利润、现金流和股票回报之间是否存在关系。研究结果表明，收益的持久性较高，现金流的持久性高于应计项目的持久性。我们发现，应计利润是股票回报的负预测因素，现金流是股票收益的正预测因素。此外，同时，我们得出结论，贴现率和应计利润和现金流量的变化是共同作用的。

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Accruals, cash flows and stock returns: evidence from BIST 100

ABSTRACT The purpose of this study is to determine whether there is a relationship between the accruals, cash flows and stock returns for firms which trade in the BIST 100 index between 2005 and 2017 years. Findings prove that the persistence of the earning is high, and the persistence of cash flows is higher than the persistence of accruals. We find that accruals are negative predictors and cash flows are positive predictors for stock returns. In addition, simultaneously, we conclude that the discount rates and the change in the accruals and cash flows act together.

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来源期刊

Macroeconomics and Finance in Emerging Market Economies ECONOMICS-

CiteScore

2.40

自引率

7.70%

发文量