{"id":"W4412557733","doi":"10.1016/j.adiac.2025.100837","title":"Earnings versus cash flows in equity valuation: Evidence from the COVID-19 crisis","year":2025,"lang":"en","type":"article","venue":"Advances in Accounting","topic":"Financial Markets and Investment Strategies","field":"Economics, Econometrics and Finance","cited_by":0,"is_retracted":false,"has_abstract":false,"ca_institutions":"Simon Fraser University","funders":"","keywords":"Equity (law); Valuation (finance); Coronavirus disease 2019 (COVID-19); Cash flow; Economics; Accounting; Earnings; Business; Financial economics; Econometrics; Actuarial science; Monetary economics; Medicine; Political science","routes":{"ca_aff":true,"ca_fund":false,"ca_venue":false,"about_ca":false,"invisible_to_affiliation_only":false},"retraction":null,"screen":null,"direct_labels":[],"prediction":{"model_version":"codex-gemma-dda1882f352a","candidate_categories":[],"consensus_categories":[],"category_scores_codex":[0.001752967,0.000133321,0.0002662486,0.0001603792,0.0001803488,0.0001631069,0.0004169189,0.00007236127,0.0001970632],"category_scores_gemma":[0.003999296,0.0001302048,0.00004834657,0.0006769751,0.00006355401,0.001465684,0.0002056105,0.0002351213,0.0000534299],"about_ca_system_candidate":false,"about_ca_system_consensus":false,"about_ca_system_score_codex":0.0003247536,"about_ca_system_score_gemma":0.00009951541,"about_ca_topic_candidate":false,"about_ca_topic_consensus":false,"about_ca_topic_score_codex":0.005867434,"about_ca_topic_score_gemma":0.005534923,"domain_scores_codex":[0.998614,0.0000404826,0.0005812625,0.0004183785,0.00006422526,0.0002817025],"domain_scores_gemma":[0.998318,0.001080863,0.0002761548,0.0002776725,0.00002357877,0.00002372399],"domain_codex":null,"domain_gemma":null,"domain_candidate":null,"domain_consensus":null,"study_design_codex":"observational","study_design_gemma":"not_applicable","study_design_scores_codex":[0.0001245198,0.0000339833,0.8314712,0.00006952966,0.00001327833,0.00000601049,0.001248268,0.006952692,0.000007155468,0.1504857,0.001922232,0.007665445],"study_design_scores_gemma":[0.001503854,0.00004151122,0.2945258,0.0002247336,0.00001000654,3.314057e-7,0.001277476,0.009408748,0.00001340825,0.3388746,0.3537359,0.0003835537],"study_design_candidate":"observational","study_design_consensus":null,"genre_codex":"empirical","genre_gemma":"empirical","genre_scores_codex":[0.8212592,0.07124285,0.005746573,0.01569225,0.003534055,0.0006142234,0.00004960446,0.00007757213,0.08178367],"genre_scores_gemma":[0.9903636,0.004459198,0.001239822,0.003658947,0.0001238129,0.00006615758,0.00000672141,0.000008661083,0.00007309222],"genre_candidate":"empirical","genre_consensus":"empirical","teacher_disagreement_score":0.5369454,"threshold_uncertainty_score":0.8869845,"prediction_status":"machine_predicted_unvalidated"},"machine_scores":{"provisional":true,"baseline":true,"maturity_gate_passed":false,"score_opus":0.09526070039625467,"score_gpt":0.3466554493149099,"score_spread":0.2513947489186552,"validation_status":"score_only:v0-immature-baseline","note":"Baseline scores from an immature model (maturity gate not passed). Scores rank; they never assert a category."}}