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Unusual operating cash flows and stock returns
16 references·5 citing·37 second hop
Unusual operating cash flows and stock returns (2008)Unusual operating cash flows and stock re…The Persistence and Pricing of the Cash Component of Earnings (2008)The Persistence and Pricing o…Do core and non-core cash flows from operations persist differentially in predicting future cash flows? (2007)Do core and non-core cash flo…Analysts’ treatment of nonrecurring items in street earnings (2004)Analysts’ treatment of nonrec…An Examination of Long‐Term Abnormal Stock Returns and Operating Performance Following R&D Increases (2004)An Examination of Long‐Term A…The financial numbers game: detecting creative accounting practices (2002)The financial numbers game: d…Errors in Estimating Accruals: Implications for Empirical Research (2002)Errors in Estimating Accruals…Accounting Conservatism, the Quality of Earnings, and Stock Returns (2002)Accounting Conservatism, the …The Stock Market Valuation of Research and Development Expenditures (2001)The Stock Market Valuation of…Accruals and the Prediction of Future Cash Flows (2001)Accruals and the Prediction o…On Transitory Earnings (1999)On Transitory EarningsDo Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings? (1997)Do Stock Prices Fully Reflect…Multifactor Explanations of Asset Pricing Anomalies (1996)Multifactor Explanations of A…Do Stock Prices Fully Reflect Information in Accruals and Cash Flows About Future Earnings? (1996)Do Stock Prices Fully Reflect…Fundamentals and Stock Returns in Japan (1991)Fundamentals and Stock Return…Fundamentals and Stock Returns in Japan (1991)Fundamentals and Stock Return…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The effect of earning information, cash flow components, and financing decision on stock returns: empirical evidence on Indonesia stock exchange (2019)The effect of earning informa…Does financial reporting above or below operating income matter to firms and investors? The case of investment income in China (2018)Does financial reporting abov…Determinants and economic consequences of cash flow restatements (2018)Determinants and economic con…Effects of cash flow statement reclassifications pursuant to the SEC’s one-time allowance (2011)Effects of cash flow statemen…Investor reactions to disclosures of material internal control weaknesses (2010)Investor reactions to disclos…Common risk factors in the returns on stocks and bonds (1993)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)On Persistence in Mutual Fund Performance (1997)The Disposition Effect and Underreaction to News (2006)Stock market liquidity and firm value☆ (2009)Taming the Factor Zoo: A Test of New Factors (2020)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The relationship between return and market value of common stocks (1981)Efficient Capital Markets: II (1991)Momentum Strategies (1996)Accounting valuation, market expectation, and cross-sectional stock returns (1998)Characteristics, Covariances, and Average Returns: 1929 to 1997 (2000)An Empirical Evaluation of Accounting Income Numbers (1968)Accounting earnings and cash flows as measures of firm performance (1994)Capital markets research in accounting (2001)Accrued Earnings and Growth: Implications for Future Profitability and Market Mispricing (2003)Customer Satisfaction, Cash Flow, and Shareholder Value (2005)The Cross-Section of Expected Stock Returns (1992)Market Reactions to Tangible and Intangible Information (2006)Innovative efficiency and stock returns (2012)Replicating Anomalies (2018)Earnings Management During Import Relief Investigations (1991)Earnings quality: Evidence from the field (2013)The pricing of discretionary accruals (1996)The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors (2002)Performance matched discretionary accrual measures (2005)Detecting Earnings Management (2012)The economic implications of corporate financial reporting (2005)The market pricing of accruals quality (2005)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Industry costs of equity (1997)Investor Psychology and Security Market Under‐ and Overreactions (1998)Editor's Choice Digesting Anomalies: An Investment ApproachInvestor Psychology and Asset Pricing (2001)… and the Cross-Section of Expected Returns (2015)
this work references cited by second hop

References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1996Multifactor Explanations of Asset Pricing Anomalies6,710 cited
  • 1996Do Stock Prices Fully Reflect Information in Accruals and Cash Flows About Future Earnings?2,636 cited
  • 1997Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?2,181 cited
  • 2001The Stock Market Valuation of Research and Development Expenditures1,734 cited
  • 2002Errors in Estimating Accruals: Implications for Empirical Research1,683 cited
  • 1991Fundamentals and Stock Returns in Japan1,380 cited
  • 2002Accounting Conservatism, the Quality of Earnings, and Stock Returns1,163 cited
  • 2001Accruals and the Prediction of Future Cash Flows925 cited
  • 2004An Examination of Long‐Term Abnormal Stock Returns and Operating Performance Following R&D Increases916 cited
  • 2002The financial numbers game: detecting creative accounting practices424 cited
  • 1991Fundamentals and Stock Returns in Japan353 cited
  • 2004Analysts’ treatment of nonrecurring items in street earnings305 cited
  • 2008The Persistence and Pricing of the Cash Component of Earnings289 cited
  • 1999On Transitory Earnings

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266 cited
  • 2007Do core and non-core cash flows from operations persist differentially in predicting future cash flows?92 cited
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    • 2018Does financial reporting above or below operating income matter to firms and investors? The case of investment income in China32 cited
    • 2010Investor reactions to disclosures of material internal control weaknesses32 cited
    • 2018Determinants and economic consequences of cash flow restatements21 cited
    • 2019The effect of earning information, cash flow components, and financing decision on stock returns: empirical evidence on Indonesia stock exchange20 cited
    • 2011Effects of cash flow statement reclassifications pursuant to the SEC’s one-time allowance19 cited