... constructs of interest and (2) selecting a cash flow proxy that minimizes measurement error and maps well into its construct. We also examine the challenges researchers face in measuring cash flows and demonstrate how measurement choices can affect the magnitude of coefficient estimates and statistical...

... variables, including the effects of measurement error and complications associated with fixed effects. Finally, we provide practical suggestions for future accounting research. Data Availability: All data used are publicly available from sources cited in the text. JEL Classifications: M40; M41; C18...