Causes of country-specific effect related to the value relevance of cash flows and earnings: evidence from France, Germany, Italy and Spain
Previous studies show that, in common-law countries, the explanatory power of stock returns is higher using cash flows than earnings and accruals, while the opposite is true in code-law countries. Moreover, the literature has shown the existence of a country-specific effect motivated by different ca...
Main Authors: | , , |
---|---|
Format: | Article |
Language: | English |
Published: |
Taylor & Francis Group
2022-12-01
|
Series: | Cogent Business & Management |
Subjects: | |
Online Access: | https://www.tandfonline.com/doi/10.1080/23311975.2022.2121225 |