CAJ | 학술논문

文章研究了现金流量表中分解经营活动现金流量的直接法和间接法对未来经营活动现金流量的预测能力。研究发现，与单独提供现金流量总量相比，将总流量分解成不同的指标，能够改进对经营活动现金流量的预测。采用间接法的预测效果要好于直接法。而且，企业业务稳定性会影响两种方法的预测效果。对于业务不稳定的样本，间接法与直接法预测效果的差距更为明显。
문장연구료현금류량표중분해경영활동현금류량적직접법화간접법대미래경영활동현금류량적예측능력。연구발현，여단독제공현금류량총량상비，장총류량분해성불동적지표，능구개진대경영활동현금류량적예측。채용간접법적예측효과요호우직접법。이차，기업업무은정성회영향량충방법적예측효과。대우업무불은정적양본，간접법여직접법예측효과적차거경위명현。
This paper examines the predictive ability for future operating cash flow of direct and indirect method of the cash flows from operating activities in cash flow statement. The research finds that model incorporating components of CFO to predict future operating cash flow is superior to an aggregate cash flow model. The predictive effect of indirect method is superior to direct method. Moreover, the stability of business impacts the gap of predictive ability between the two methods. For unstable sample, the gap of predictive ability is more obvious between indirect method and direct method.