One of the objectives of accounting reporting system is to provide the analysts a true picture of the firm's financial position. Recognising this importance, the International Accounting Standards Board has prescribed IAS 7 (cash flow statement). Many studies have been carried out to assess the...

The concept and legality of income smoothing is a much debated topic in the field of accounting. It is carried out to suit the requirements of a firm when it is to declare its financial results. There are many tools used by firms to smooth the income, and loss provision is one of them. Since it...

Stock markets and their functioning are affected by many factors, both financial as well as behavioral. This paper studies the behavioral aspect of firms and its impact on corporate stock returns. The Capital Asset Pricing Model (CAPM) establishes a relationship between a stock return and the...