Measuring the Management of Cash Flows from Operating Activities-Evidence from Chinese Capital Markets

摘要：

Based on the structure of statement of cash flow, this paper develops a model to measure the management of cash flows from operating activities (CFO). We verify the models effectiveness for the sample consists of 6146 firm-years over 1998~2006 of Chinese listed companies. We find that those companies with the incentive of reporting positive CFO or transcending CFO in previous year have much higher magnitude of CFO management. The results indicate that there exists the phenomenon of CFO management for Chinese listed companies, and these management activities are motivated by different incentives.

关键词： CFO management incentives capital markets

作者: Junrui ZHANG Bin LIN Wei WANG

作者单位: School of Management,Xian JiaoTong University,Xian 710049,China

会议类型: 国际会议

会议名称: 2008 International Conference on Risk and Relianility Management(2008风险与可靠性管理国际会议)

会议地点: 北京

会议语种:英文

页码: 125-131

在线出版日期: 2008-11-10（万方平台首次上网日期，不代表论文的发表时间）