بررسي مربوط بودن سود حسابداري، ارزش دفتري و گردش وجوه نقد عملياتي و سرمايه گذاري در مدل هاي ارزشيابي مبتني بر قيمت

The Value Relevance of Book Value, Earnings, Operating and Investment Cash Flows For Equity Valuation

This paper investigates the value relevance of accounting information for firmsʹ market values prediction. In the study the value relevance of Book Values, Earnings, Operating Cash Flows and Investment Cash Flows as proxies of accounting information are investigated for equity valuation of companies listed in Tehran Stock Exchange (TSE). We examine fifteen models and four independent variables, as well as the explanatory power of these variables. If accounting information can be used as relevant variables in prediction models of firmsʹ market values then, the hypothesis of value relevance of accounting information can be accepted.