摘要 : Purpose - This study aims to investigate whether the cash flow forecasts (CFF) of analysts can disseminate valuable information to the information environments of companies.Design/methodology/approach - The author uses empirical a... 展开 Purpose - This study aims to investigate whether the cash flow forecasts (CFF) of analysts can disseminate valuable information to the information environments of companies.Design/methodology/approach - The author uses empirical archival methodology to conduct differences-in-difference analyses.Findings - It is found that information asymmetry decreases in the treatment group following the initiation of CFF during the postperiod, which is consistent with the hypothesis of this paper.Originality/value - To the best of the author's knowledge, this study is the first among the cash flow forecast studies to demonstrate the usefulness of CFF in the mitigation of information asymmetry, a friction that is widespread in capital markets. 收起