东吴威尼斯欢乐娱人城v3676学术报告（谢宏）
发布者：系统管理员 发布时间：2017-06-05 浏览次数：132
主题：Cash Flow Management and the Cost of Equity Capital
摘要：Prior studies find that changes in noncash current assets and current liabilities from comparative balance sheets are often not equal to their corresponding changes on the statement of cash flows, a phenomenon known as non-articulation. Labeling the difference between these two changes as non-articulation amounts (NARTAs), we examine the association between absolute NARTAs and financial statement readability; analyst forecast properties, and the implied cost of equity capital, respectively. Consistent with prior findings that absolute NARTAs capture cash flow management, we find that absolute NARTAs are (1) negatively associated with financial statement readability,(2) negatively associated with analyst forecast accuracy, (3) positively associated with analyst forecast dispersion and uncertainty, and (4) positively associated with the implied cost of equity. These findings are consistent with the view that absolute NARTAs capture cash flow management and that cash flow management increases information risk and the cost of equity capital.
时间：2017年6月8日上午9:00 -10:30
地点：财经科学馆三楼学术报告厅
报告人：谢宏（Xie Hong）
报告人简介：谢宏教授先后于1983年、1986年和1998年在上海交通大学、加拿大英属哥伦比亚大学和美国爱荷华大学取得学士、硕士和博士学位，曾先后任教于美国伊利诺伊大学香槟分校、雪城大学和肯塔基大学，现任肯塔基大学会计学副教授。谢教授的多篇学术论文发表于美国顶级会计期刊，如The Accounting Review, Contemporary Accounting Research,Review of Accounting Studies等。
