Operating cash flow asymmetric timeliness in Australia

被引：18

作者：

Lu, Meiting ^{[1
]}

Shan, Yaowen ^{[2
]}

Wright, Sue ^{[3
]}

Yu, Yimeng ^{[1
]}

机构：

[1] Macquarie Univ, Sydney, NSW, Australia

[2] Univ Technol, Sydney, NSW, Australia

[3] Univ Newcastle, Newcastle Business Sch, Newcastle, NSW, Australia

来源：

ACCOUNTING AND FINANCE | 2020年 / 60卷

关键词：

Operating cash flow; Asymmetric timeliness; Firm life cycle; Cost stickiness; EARNINGS CONSERVATISM; ACCRUALS;

D O I：

10.1111/acfi.12349

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Operating cash flow (CFO) asymmetric timeliness occurs when CFO reflects bad news more quickly than good news. We examine the presence and determinants of CFO asymmetric timeliness in Australia, where substantial differences in reporting requirements of cash flow components, in characteristics of listed companies and in the degree of conservative financial reporting produce contrasting findings to those in the United States. We find supportive evidence for the novel 'sticky cost behaviour' explanation and also the product-pricing strategy, but not the life cycle hypothesis. These findings are useful for investors and analysts concerned with forecasting the future values of companies.

引用

页码：587 / 627

页数：41

共 50 条

[1] Asymmetric cash flow sensitivity of cash holdings
Bao, Dichu
Chan, Kam C.
Zhang, Weining
[J]. JOURNAL OF CORPORATE FINANCE, 2012, 18 (04) : 690 - 700
[2] Is the cash flow sensitivity of cash asymmetric? African evidence
Machokoto, Michael
Areneke, Geofry
[J]. FINANCE RESEARCH LETTERS, 2021, 38
[3] The relative information content of operating and financing cash flow in the proposed cash flow statement
Francis, Rick N.
[J]. ACCOUNTING AND FINANCE, 2010, 50 (04): : 829 - 851
[4] The Effect of Operating Cash Flow on the Profit Growth
Widarsono, Agus
Rahmawati, Mega
[J]. PROCEEDINGS OF THE 2016 GLOBAL CONFERENCE ON BUSINESS, MANAGEMENT AND ENTREPRENEURSHIP, 2016, 15 : 167 - 170
[5] EFFECTS OF OPERATING DECISIONS ON WATERFLOOD CASH FLOW
WAYHAN, DA
[J]. JOURNAL OF PETROLEUM TECHNOLOGY, 1972, 24 (NMAR): : 298 - &
[6] Prediction of Operating Cash Flows: Further Evidence from Australia
Habib, Ahsan
[J]. AUSTRALIAN ACCOUNTING REVIEW, 2010, 20 (02) : 134 - 143
[7] To improve timeliness of flow of elective patients in operating theatres and recovery
Hafeez, R.
Njuguna, J.
Khan, A.
Khawaja, H.
Smedley, F.
[J]. BRITISH JOURNAL OF SURGERY, 2016, 103 : 175 - 175
[8] Cash flows: The Gap Between Reported and Estimated Operating Cash Flow Elements
Hughes, Mark
Hoy, Simon
Andrew, Brian
[J]. AUSTRALASIAN ACCOUNTING BUSINESS AND FINANCE JOURNAL, 2010, 4 (01) : 96 - 114
[9] AN EMPIRICAL-INVESTIGATION OF THE PREDICTIVE POWER OF ACCRUAL AND CASH FLOW DATA IN FORECASTING OPERATING CASH FLOW
MURDOCH, B
KRAUSE, P
[J]. AKRON BUSINESS AND ECONOMIC REVIEW, 1989, 20 (03): : 100 - 113
[10] EFFECT OF OPERATING DECISIONS ON PERIPHERAL WATERFLOOD CASH FLOW
WAYHAN, DA
[J]. JOURNAL OF PETROLEUM TECHNOLOGY, 1972, 24 (NOV): : 1320 - &

← 1 2 3 4 5 →