Australian evidence on analysts' cash flow forecasts: issuance, accuracy and usefulness

Chen, X; Lu, M; Shan, Y; Zhang, Y

Australian evidence on analysts' cash flow forecasts: issuance, accuracy and usefulness

Chen, X Lu, M Shan, Y

Zhang, Y

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Publisher:: Wiley
Publication Type:: Journal Article
Citation:: Accounting and Finance, 2021, 61, (1), pp. 3-50
Issue Date:: 2021-01-01

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Field	Value	Language
dc.contributor.author	Chen, X
dc.contributor.author	Lu, M
dc.contributor.author	Shan, Y https://orcid.org/0000-0003-2156-8722
dc.contributor.author	Zhang, Y
dc.date.accessioned	2021-12-11T04:54:31Z
dc.date.available	2021-12-11T04:54:31Z
dc.date.issued	2021-01-01
dc.identifier.citation	Accounting and Finance, 2021, 61, (1), pp. 3-50
dc.identifier.issn	0810-5391
dc.identifier.issn	1467-629X
dc.identifier.uri	http://hdl.handle.net/10453/152234
dc.description.abstract	© 2019 Accounting and Finance Association of Australia and New Zealand This study examines the factors affecting the issuance, accuracy and usefulness of analysts' cash flow forecasts (CFFs) in Australia. Given the economic importance of the mining industry in Australia, we find that analysts are likely to provide CFFs for mining firms with poor financial health and high default risk. In contrast, analysts' provision of CFFs increases with the degree of financial health for non-mining firms. The determinants of the issuance and accuracy of analysts' CFFs also differ in pre- and post-IFRS adoption periods. Our results add new evidence on the effect of IFRS adoption on analysts' cash flow forecasting behaviours.
dc.language	English
dc.publisher	Wiley
dc.relation.ispartof	Accounting and Finance
dc.relation.isbasedon	10.1111/acfi.12552
dc.rights	info:eu-repo/semantics/closedAccess
dc.subject	1402 Applied Economics, 1501 Accounting, Auditing and Accountability, 1502 Banking, Finance and Investment
dc.subject.classification	Accounting
dc.title	Australian evidence on analysts' cash flow forecasts: issuance, accuracy and usefulness
dc.type	Journal Article
utslib.citation.volume	61
utslib.for	1402 Applied Economics
utslib.for	1501 Accounting, Auditing and Accountability
utslib.for	1502 Banking, Finance and Investment
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Accounting Discipline
utslib.copyright.status	closed_access	*
pubs.consider-herdc	true
dc.date.updated	2021-12-11T04:54:30Z
pubs.issue	1
pubs.publication-status	Published
pubs.volume	61
utslib.citation.issue	1

Abstract:

© 2019 Accounting and Finance Association of Australia and New Zealand This study examines the factors affecting the issuance, accuracy and usefulness of analysts' cash flow forecasts (CFFs) in Australia. Given the economic importance of the mining industry in Australia, we find that analysts are likely to provide CFFs for mining firms with poor financial health and high default risk. In contrast, analysts' provision of CFFs increases with the degree of financial health for non-mining firms. The determinants of the issuance and accuracy of analysts' CFFs also differ in pre- and post-IFRS adoption periods. Our results add new evidence on the effect of IFRS adoption on analysts' cash flow forecasting behaviours.

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http://hdl.handle.net/10453/152234