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Accounting Conservatism and the Temporal Trends in Current Earnings’ Ability to Predict Future Cash Flows versus Future Earnings: Evidence on the Trade-off between Relevance and Reliability


  •  Accepted by Jeffrey Callen. An earlier version of this paper was presented at the 2008 Contemporary Accounting Research Conference, generously supported by the Canadian Institute of Chartered Accountants. We thank participants at the 2008 CAAA meetings and the 2008 CAR conference, Edward Riedl, the discussant at the CAR conference, Jeffrey Callen (the associate editor), and two anonymous referees. All errors remain ours.