نویسندگان
چکیده
کلیدواژهها
عنوان مقاله [English]
نویسندگان [English]
In this study, we examined the role of investment opportunities as a determinant of the relative importance of cash flows from operation (CFO) and accruals in firm valuation. Our analyses are based on three perspectives in the area of finance and accounting named as “the growth information hypothesis”, “the internal resource hypothesis”, “the noisy measure hypothesis”. We examined our hypothesis on a sample of 90 companies listed on Tehran Stock Exchange during the period between years 1382-1387 (2003-2008). Our findings show that in the range of investment opportunities, by increasing of investment opportunities, the value-relevance of cash flows from operation and accruals will decrease. Decreased in value-relevance of cash flows from operation and accruals would be the result of defects in accounting procedures. Research results also indicate that earnings response coefficients first decrease and then increase as investment opportunities increase
کلیدواژهها [English]
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