{"id":"https://openalex.org/W2270266012","doi":"https://doi.org/10.2308/tar-902587","title":"Additional Evidence on the Incremental Information Content of Cash Flows and Accruals: The Impact of Errors in Measuring Market Expectations.","display_name":"Additional Evidence on the Incremental Information Content of Cash Flows and Accruals: The Impact of Errors in Measuring Market Expectations.","publication_year":1998,"publication_date":"1998-07-01","ids":{"openalex":"https://openalex.org/W2270266012","doi":"https://doi.org/10.2308/tar-902587","mag":"2270266012"},"language":"en","primary_location":{"id":"doi:10.2308/tar-902587","doi":"https://doi.org/10.2308/tar-902587","is_oa":false,"landing_page_url":"https://doi.org/10.2308/tar-902587","pdf_url":null,"source":{"id":"https://openalex.org/S160506855","display_name":"The Accounting Review","issn_l":"0001-4826","issn":["0001-4826","1558-7967"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310316290","host_organization_name":"American Accounting Association","host_organization_lineage":["https://openalex.org/P4310316290"],"host_organization_lineage_names":["American Accounting Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Accounting Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=143836","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5079811422","display_name":"Ray J. Pfeiffer","orcid":"https://orcid.org/0000-0003-3883-2577","observed_orcids":["https://orcid.org/0000-0003-3883-2577"]},"institutions":[{"id":"https://openalex.org/I128956969","display_name":"Texas Christian University","ror":"https://ror.org/054b0b564","country_code":"US","type":"education","lineage":["https://openalex.org/I128956969"]},{"id":"https://openalex.org/I24603500","display_name":"University of Massachusetts Amherst","ror":"https://ror.org/0072zz521","country_code":"US","type":"education","lineage":["https://openalex.org/I24603500"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Ray J. Pfeiffer","raw_affiliation_strings":["University of Massachusetts Amherst. 1","Texas Christian University , Neeley School of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Massachusetts Amherst. 1","institution_ids":["https://openalex.org/I24603500"]},{"raw_affiliation_string":"Texas Christian University , Neeley School of Business","institution_ids":["https://openalex.org/I128956969"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5045763815","display_name":"Pieter T. Elgers","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I24603500","display_name":"University of Massachusetts Amherst","ror":"https://ror.org/0072zz521","country_code":"US","type":"education","lineage":["https://openalex.org/I24603500"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Pieter T. Elgers","raw_affiliation_strings":["University of Massachusetts Amherst. 1","University of Massachusetts"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Massachusetts Amherst. 1","institution_ids":["https://openalex.org/I24603500"]},{"raw_affiliation_string":"University of Massachusetts","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5001800344","display_name":"May H. Lo","orcid":"https://orcid.org/0000-0001-7093-4587","observed_orcids":["https://orcid.org/0000-0001-7093-4587"]},"institutions":[{"id":"https://openalex.org/I19833938","display_name":"Western New England University","ror":"https://ror.org/007cnf143","country_code":"US","type":"education","lineage":["https://openalex.org/I19833938"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"May H. Lo","raw_affiliation_strings":["Western New England College. 2","Western New England College"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Western New England College. 2","institution_ids":["https://openalex.org/I19833938"]},{"raw_affiliation_string":"Western New England College","institution_ids":["https://openalex.org/I19833938"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5015579704","display_name":"Lynn L. Rees","orcid":"https://orcid.org/0000-0001-7108-238X","observed_orcids":["https://orcid.org/0000-0001-7108-238X"]},"institutions":[{"id":"https://openalex.org/I121980950","display_name":"Utah State University","ror":"https://ror.org/00h6set76","country_code":"US","type":"education","lineage":["https://openalex.org/I121980950"]},{"id":"https://openalex.org/I91045830","display_name":"Texas A&M University","ror":"https://ror.org/01f5ytq51","country_code":"US","type":"education","lineage":["https://openalex.org/I91045830"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Lynn L. Rees","raw_affiliation_strings":["Texas A&M University. 3","Utah State University - School of Accountancy"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Texas A&M University. 3","institution_ids":["https://openalex.org/I91045830"]},{"raw_affiliation_string":"Utah State University - School of Accountancy","institution_ids":["https://openalex.org/I121980950"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":5,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.9628,"has_fulltext":false,"cited_by_count":62,"citation_normalized_percentile":{"value":0.9316856,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"73","issue":"3","first_page":"373","last_page":"385"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.6693999767303467,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.6693999767303467,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.266400009393692,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.02590000070631504,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/incremental-information-content","display_name":"incremental information content","score":0.8619999885559082},{"id":"https://openalex.org/keywords/cash-flow","display_name":"cash flow","score":0.6740000247955322},{"id":"https://openalex.org/keywords/accruals","display_name":"accruals","score":0.9769999980926514},{"id":"https://openalex.org/keywords/market-expectations","display_name":"market expectations","score":0.6539999842643738},{"id":"https://openalex.org/keywords/serial-correlation","display_name":"serial correlation","score":0.5109999775886536},{"id":"https://openalex.org/keywords/random-walks","display_name":"random walks","score":0.6579999923706055},{"id":"https://openalex.org/keywords/operating-cash-flow","display_name":"operating cash flow","score":0.6909999847412109},{"id":"https://openalex.org/keywords/earnings-components","display_name":"earnings components","score":0.515999972820282},{"id":"https://openalex.org/keywords/security-returns","display_name":"security returns","score":0.7590000033378601},{"id":"https://openalex.org/keywords/measurement-error","display_name":"measurement error","score":0.3059999942779541}],"concepts":[{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.8286646604537964},{"id":"https://openalex.org/C4577558","wikidata":"https://www.wikidata.org/wiki/Q384475","display_name":"Accrual","level":3,"score":0.8004933595657349},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.7148712873458862},{"id":"https://openalex.org/C2781426361","wikidata":"https://www.wikidata.org/wiki/Q5326940","display_name":"Earnings","level":2,"score":0.6792052984237671},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.633764922618866},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5818779468536377},{"id":"https://openalex.org/C166819830","wikidata":"https://www.wikidata.org/wiki/Q2025903","display_name":"Operating cash flow","level":3,"score":0.5402313470840454},{"id":"https://openalex.org/C121194460","wikidata":"https://www.wikidata.org/wiki/Q856741","display_name":"Random walk","level":2,"score":0.4389827251434326},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4002250134944916},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.20471027493476868},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.14939838647842407},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.14656314253807068}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.2308/tar-902587","doi":"https://doi.org/10.2308/tar-902587","is_oa":false,"landing_page_url":"https://doi.org/10.2308/tar-902587","pdf_url":null,"source":{"id":"https://openalex.org/S160506855","display_name":"The Accounting Review","issn_l":"0001-4826","issn":["0001-4826","1558-7967"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310316290","host_organization_name":"American Accounting Association","host_organization_lineage":["https://openalex.org/P4310316290"],"host_organization_lineage_names":["American Accounting Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Accounting Review","raw_type":"journal-article"},{"id":"mag:2270266012","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=143836","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null}],"best_oa_location":{"id":"mag:2270266012","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=143836","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.44999998807907104,"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":11,"referenced_works":["https://openalex.org/W1598389915","https://openalex.org/W2006862483","https://openalex.org/W2052711321","https://openalex.org/W2084101712","https://openalex.org/W2141468819","https://openalex.org/W2152302353","https://openalex.org/W2170694901","https://openalex.org/W2258784370","https://openalex.org/W2286818759","https://openalex.org/W3121724908","https://openalex.org/W3124176564"],"related_works":["https://openalex.org/W7139009917","https://openalex.org/W2131219966","https://openalex.org/W2523337740","https://openalex.org/W1599089761","https://openalex.org/W1591083609","https://openalex.org/W2038302770","https://openalex.org/W7136195371","https://openalex.org/W4388779625","https://openalex.org/W4316814753","https://openalex.org/W1560347146"],"abstract_inverted_index":{"Abstract":[0],"This":[1],"study":[2],"evaluates":[3],"the":[4,21,47,64,91],"relation":[5],"between":[6],"security":[7],"returns":[8],"and":[9,31,95],"funds-based":[10],"earnings":[11],"components.":[12],"We":[13],"document":[14],"that":[15,23],"proxies":[16],"for":[17,73],"market":[18,59],"expectations":[19,60],"of":[20,28,46,52,97],"components":[22],"are":[24,33,61],"based":[25],"on":[26],"measures":[27],"historical":[29],"serial-":[30],"cross-dependencies":[32],"substantially":[34],"more":[35],"accurate":[36],"than":[37],"random-walk":[38,74],"proxies.":[39],"Moreover,":[40],"we":[41,82],"detect":[42],"significantly":[43],"higher":[44],"valuations":[45],"operating":[48],"cash":[49,88,99],"flow":[50,100],"component":[51],"earnings,":[53],"relative":[54],"to":[55,77],"current":[56],"accruals,":[57],"when":[58],"represented":[62],"using":[63],"dependency-based":[65],"predictions.":[66],"Such":[67],"differential":[68],"valuation":[69],"is":[70],"not":[71],"detectable":[72],"representations.":[75],"Contrary":[76],"results":[78],"in":[79,86],"Ali":[80],"(1994),":[81],"find":[83],"incremental":[84],"information":[85],"unexpected":[87,98],"flows":[89],"over":[90],"whole":[92],"spectrum":[93],"(moderate":[94],"extreme)":[96],"realizations.":[101]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":4},{"year":2014,"cited_by_count":5},{"year":2013,"cited_by_count":4},{"year":2012,"cited_by_count":4}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2016-06-24T00:00:00"}
