涉农上市公司现金流量信息的市场反映检验

A Test of the Market Response to the Cash Flow Information of Public Companies in the Agricultural Sector

由于农业行业的特殊性,涉农上市公司的盈余信息质量一直以来受到投资者、监管者以及准则制定者的关注。现金流量信息是以收付实现制为基础的特殊盈余信息,投资者能否从涉农上市公司现金流量信息中,获取所需的决策信息值得研究。通过检验我国涉农上市公司的现金流量信息的市场反映后发现,投资者对不同内容的现金流量信息反映有所不同,而且农业上市公司现金流量信息的决策价值并不高,信息含量也有待提高。

Due to the particularity of the agriculture sector,the quality of accounting information from agricultural sector public companies has attracted attention of investors,supervisors and principals setters.The cash flow information is a kind of special accounting information based on the practice of collecting and paying.Whether investors can obtain the information for decision-making from the cash flow information released by public companies in the agricultural sector is an issue well worth studying.A test o...