كاربرد نسبت هاي نقدينگي جريان نقدي و حسابداري تعهدي در پيش بيني جريان نقدي عملياتي آتي شركت هاي پذيرفته شده در بورس اوراق بهادار تهران

Application Cash Flow Ratios, Cash Flows and Accrual Accounting in Predicting Future Operating Cash Flow in Listed Companies of Tehran Stock Exchange

Cash flow prediction is involved in a number of economic decisions, particularly in Investment .The current study investigates the ability of accrual and cash flows accounting data to predict future cash flows of Tehran listed companies. Three regression models are constructed namely earnings, cash flows, accrual components and cash flows models. In addition, cash flow ratios are investigated to predict future cash flows by using a stepwise regression. The population of research includes of Tehran Stock Exchange between 1382 to 1396. Eveiws 6 software and regression are used to analysis of statistical data and hypothesis of research. Cash flow data are selected directly from the cash flow statements. The empirical results show that past earnings, cash flows, cash flow and accrual component of earnings can be used to predict future cash flows of Tehran Stock Exchange and cash flows have better predictive power than past earnings. Additionally, the cash flow model and the cash flow and accrual components of earnings model have better predictive power than the earnings model. However, the results indicate that cash flow ratios are not a good predictor of future cash flows.