摘要
现金流量所产生的会计盈余的持久性要大于会计应计量所产生的会计盈余的持久性。但是,中国股票市场并不能有效地区分这种差异,上市公司的股票价格似乎高估了会计应计量所产生的会计盈余的持久性,而低估了现金流量所产生的会计盈余的持久性。
The persistence of earnings from cash flow is greater than that of earnings from accruals. However, China's stock market can not distiguish the difference. Stock prices overstate the persistence of earnings from accruals and understate the persistence of earnings from cash flows.
出处
《中国软科学》
CSSCI
北大核心
2003年第11期40-45,共6页
China Soft Science
