增加物
现金流
收益
经营现金流
库存(枪支)
收益反应系数
业务
货币经济学
经济
会计
机械工程
工程类
摘要
This paper investigates whether stock prices reflect information about future earnings contained in the accrual and cash flow components of current earnings. The extent to which current earnings performance persists into the future is shown to depend on the relative magnitudes of the cash and accrual components of current earnings. However, stock prices are found to act as if investors fixate on earnings, failing to reflect fully information contained in the accrual and cash flow components of current earnings until that information impacts future earnings.
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