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exploration activities. The implication is that two otherwise identical companies can report substantially different earnings … to evaluate oil company financial performance since cash flows are less affected by managers’ discretion than earnings … are. In this study, we investigate the relevance to investors of earnings versus cash flow for oil and gas companies. Our …
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exploration activities. The implication is that two otherwise identical companies can report substantially different earnings … to evaluate oil company financial performance since cash flows are less affected by managers' discretion than earnings … are. In this study, we investigate the relevance to investors of earnings versus cash flow for oil and gas companies. Our …
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