Studies the relations between operation cash flows, bankruptcy risk and future operation cash flows

Subject Areas : Management Accounting

قدرت اله طالبنیا ¹ ( ندارد )
مجید بالایی ² ( ندارد )

Received: 2011-02-09 Accepted : 2011-05-05 Published : 2011-09-23

Keywords: Operation cash flows, Bankruptcy Risk, future Operation cash flow,

Abstract :

The present paper studies the relations among operation cash flows, bankruptcyrisk and future operation cash flows. Accordingly, we have considered the relationsbetween “future operation cash flows” with “current operation cash flows” and“bankruptcy risk”. We have also studied the relations that future operation cash flowscan bear with new variable which are formed from the combination of “bankruptcyrisk” with “current operation cash flows”. For studying the relation the variables with“future operation cash flows”, we have applied Pearson’s correlation coefficient andmultiple regression analysis (multi- variable).In data- analysis stage, we have used thedata from 93 firms certified by Tehran’s Stock Exchange from 1382 to 1387.Results from our study prove that there exists a noticeable direct and meaningfulrelationship between future operation cash flows with current operation cash flows.The same results also, indicate a relation between bankruptcy risk and currentoperation cash flows with future operation cash flows, so that in most operationyears, bankruptcy risk and current operation cash flows have been effective inpredicting future operation cash flows.