Gholamreza Kordestani; Javad Rezazadeh; Javad Rezazadeh
Abstract
Investigating the Relation Between Accruals and Operating Cash Flows and Effective Factors on this Relation can be useful for shareholders and capital market analysts. The purpose of this study is to investigate the Relation Between Accruals and Operating Cash Flows and Effective Timing and Economic ...
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Investigating the Relation Between Accruals and Operating Cash Flows and Effective Factors on this Relation can be useful for shareholders and capital market analysts. The purpose of this study is to investigate the Relation Between Accruals and Operating Cash Flows and Effective Timing and Economic Factors on this Relation. To do so, data of 107 stocks listed in Tehran Stock Exchange in a period of 11 years during 2005 to 2015 were analyzed. First of all, with utilization of times-series regression, the relationship between accruals and cash flows over time were examined. Afterwards, Effective Timing and Economic Factors that could affect this relation were considered utilizing Time-Series Regressions. The results indicate a significant negative relationship between Accruals and Operating Cash Flows showing drops from about -0/997 in 2005 to -0/347 in 2015. Furthermore, out of five potential factors, three of which including Timing-Related Cash Flow Shocks, increases in non-timing-related accrual recognition, as proxied by one-time and non-operating items and the growth of intangible-intensive industries play a role in the majority of the overall decline. In other words, the growth in the frequency and the magnitude of these items has given rise to a decrease in the negative accrual–cash flow relation and operational Cash Flow Shocks throughout the project.
Ali Rahmani; Gharibe Esmaili
Volume 11, Issue 43 , October 2014, , Pages 1-23
Abstract
Company valuation methods have been improved by the knowledge-based economy. Significant gap between corporate market value and accounting book value had led to numerous researches in "unexplained value" or "hidden reserve".Even though there are few surveys on intangible assets in Iran, Empirical studies ...
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Company valuation methods have been improved by the knowledge-based economy. Significant gap between corporate market value and accounting book value had led to numerous researches in "unexplained value" or "hidden reserve".Even though there are few surveys on intangible assets in Iran, Empirical studies in advanced marketsdemonstrate the importance of these assets. This study aims to examine the relationship betweenintangible assets and corporate market value oflisted companies in Tehran Stock Exchange (TSE). For this purpose, the sample including 1468 observations (Year- Company) of listed companies in TSE over 2006 to 2011 has been collected and hypothesizes were tested using "Landsman's balance sheet identity model". According to the findings, intangible assets are correlated with corporate market value. In addition, upward trend in recognizing the value of intangible assets has been seen. It is notable that, tangible assets have a dominant role in valuating listed companies in TSE with descending trend in explaining corporate market value.
