摘要
本文研究发现,我国上市公司自1998年编报现金流量表以来,总体上呈现现金流与净利润背道而驰的发展趋势,这一方面是由于会计稳健程度的提高,也就是通常所说的“挤干业绩水分”现象,另一方面也归功于经营现金流与净利润的差异——应计项目包含了较多非持续性因素。
An in-depth cash flow observation of Chinese listed companies since 1998 reveals a negative correlation of their operational cash flow and net income. The reason behind it is partly the improvement of financial solidity or what is called 'deflation of earnings bubble'. On the other hand, the inclusion of lots of incidental factors in accrued item is also part of the reason. It is concluded that operational cash flow of Chinese listed companies holds an unreasonable high ratio and this situation is unlikely to occur in 2003 financial statements.
出处
《证券市场导报》
北大核心
2003年第12期55-60,共6页
Securities Market Herald
