Clatworthy, Mark A.; Pong, Christopher K.M.; Wong, Woon K. - In: Accounting and Business Research 42 (2012) 4, pp. 419-439
In this paper, we examine the relative importance of the cash flow and accruals components of earnings in explaining the variation in UK company equity returns, together with the extent to which these relationships vary by auditor quality. We use a multivariate time-series approach that can be...