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首页> 外文期刊>Journal of accounting, auditing & finance >Usefulness of Accounting Estimates: A Tale of Two Countries (China and India)
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Usefulness of Accounting Estimates: A Tale of Two Countries (China and India)

机译：会计估计的有用性：两个国家的故事（中国和印度）

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摘要

This is an exploratory study to examine the quality or usefulness of accounting estimates of companies in China and India over time. Specifically, we examine how well the accounting estimates are able to predict future earnings and cash flows during the period 2003-2013. The results for India indicate that the out-of-sample earnings and cash flow predictions derived are more accurate and more efficient in the more recent period (2010-2013) than the earlier period (2003-2006). In contrast, the out-of-sample earnings and cash flow predictions for China are generally more biased, less accurate, and less efficient. The results indicate abnormal returns earned on hedge portfolios formed on earnings (cash flow) predictions for India in the recent period. In contrast, none of the portfolios for China earn positive returns. The results suggest that the accounting estimates in India in recent years have become better predictors of future earnings and cash flow than accounting estimates in the earlier period. However, the accounting estimates in China are not relevant for predicting earnings and cash flows over the years in the sample period.
机译：这是一项探索性研究，旨在研究中国和印度公司随时间推移的会计估计的质量或有用性。具体来说，我们研究了会计估计能够很好地预测2003-2013年期间的未来收益和现金流量。印度的结果表明，与较早时期（2003-2006年）相比，最近时期（2010-2013年）得出的样本外收入和现金流量预测更准确，更有效。相比之下，中国的样本外收入和现金流量预测通常会有更大的偏见，准确性和效率较低。结果表明，根据对印度近期收入（现金流量）的预测形成的对冲投资组合获得的异常收益。相反，中国的投资组合均未获得正收益。结果表明，与较早时期的会计估计相比，近年来印度的会计估计已成为更好的未来收益和现金流量预测指标。但是，中国的会计估计与样本期内多年来的收入和现金流量预测无关。

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