Purpose Managers, investors and security analysts all pay special attention to the bottom line of income statements and they miss significant information included in accruals about the quality of earnings. A considerable portion of the earnings-quality literature examines the possibility of...

The paper focuses on assessment of the sensitivity of investment on cash flow (ICFS) made by listed companies in Poland. Achieving this goal will also involve analysing and drawing conclusions about the balance-sheet channel of monetary transmission. An empirical part uses data from financial...