Advanced Search
MyIDEAS: Login to save this article or follow this journal

La calidad e importancia de las utilidades contables para las empresas cotizadas en los mercados de capitales chilenos

Contents:

Author Info

  • Jara Bertin, Mauricio

    (Universidad Católica de la Santísima Concepción)

  • López Iturriaga, Félix J.

    (Universidad de Valladolid)

Abstract

Because information conveyed by corporate financial statements is highly influential and, thus, plays a central role in capital markets, we analyze the usefulness of reported earnings to measure firm performance as well as the ability of earnings to anticipate future cash flows. Specifically, we examine the relation between spec-ific firm factors and quality of earnings for a sample of 180 listed Chilean firms between 1998 and 2003. We find that earnings are more relevant than cash flows to measure a firm’s performance, which suggests that earnings have additional informational content. The quality of earnings is positively related to the size of the firm and negative related to the operating cycle.// Dado que la información trasmitida mediante los estados financieros corporativos tiene gran peso y que, por tanto, desempeña un papel central en los mercados de capitales, analizamos hasta qué punto las utilidades declaradas sirven para medir el desempeño y como instrumento para anticipar los flujos de efectivo futuros. Específicamente, examinamos la relación entre los factores específicos de las empresas y la calidad de las utilidades en una muestra de 180 empresas chilenas que cotizaron en bolsa de valores entre 1998 y 2003. Hallamos que las utilidades son más pertinentes que los flujos de efectivo en la medición del desempeño de las empresas, lo cual sugiere que las utilidades tienen un contenido informativo adicional. La calidad de las utilidades tiene una relación positiva con el tamaño de la empresa y una relación negativa con el ciclo operativo.

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Article provided by Fondo de Cultura Económica in its journal El Trimestre Económico.

Volume (Year): LXXVIII (3) (2011)
Issue (Month): 311 (julio-septiembre)
Pages: 643-674

as in new window
Handle: RePEc:elt:journl:v:78:y:2011:i:311:p:643-674

Contact details of provider:
Web page: http://www.fondodeculturaeconomica.com/

Order Information:
Postal: Order print issues directly in our web page or with Guadalupe Galicia at Fondo de Cultura Económica, El Trimestre Económico, Carretera Picacho Ajusco 227, 6° piso,Col. Bosques del Pedregal, CP 14738, Tlalpan, Distrito Federal, México
Email:
Web: http://www.eltrimestreeconomico.com/

Related research

Keywords: ajustes por devengo o acumulación; flujos de efectivo; persistencia de las utilidades; calidad de las utilidades; mercados eficientes;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:elt:journl:v:78:y:2011:i:311:p:643-674. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rosa María González Mejía).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.