An Analysis of Financial Ratios Derived from Statement of Cash Flows and their Relationship to the Stock Returns: An accounting Perspective. An Empirical Study on Listed Companies in the Egyptian Stock Exchange

The purpose of this research Study and analysis of financial ratios derived from Statement of cash flows and their relationship to the stock returns from accounting perspective.
 
   To achieve this goal has been done theoretical study, and Empirical Study on listed companies on the Egyptian Stock Exchange
the theoretical study Concluded a several financial ratios derived from Statement of cash flows, that can be used to explain stock returns, namely the adequacy of operating cash flow ratio, the proportion of operating cash flow to the total change in cash flow, the rate of cash return on assets, the rate of cash return on owners' equity, The index of operating cash flow.
   To test the ability of these ratios to interpret stock returns in Egyptian companies, have been doing  An  Empirical
 
study on 32 listed companies on sectors index in Egyptian Stock Exchange, for the period from 2010 to 2015.
   The results revealed that the relationship between financial ratios derived from cash flows statement and stock returns positive and statistically signifycant. And the ratios that have a positive relationship and statistically significant are the rate of cash return on assets, and the rate of cash return on owners' equity.
   When dividing the sample in sectors, results indicated that the positive relationship to the level of all sectors, but statistically significant in the construction and building materials sectors, health care and pharmacology sector, and telecommunicationssector.