现金流量表中信息披露质量的优点和不足之处【外文翻译】.docVIP

外文文献翻译译文 外文原文 原文： Disclosure Quality and the Mispricing of Accruals and Cash Flow In this paper, we investigate the role that disclosure quality plays in the accurate valuation of accruals and cash flow. We predict that stock prices of firms with higher-quality disclosures more accurately reflect the persistence of accruals and cash flow. We test our predictions using analyst ratings of disclosure published in the annual Association for Investment Management and Research (AIMR) Corporate Information Committee Reports for the years 1982 through 1996. The results provide strong evidence of misp