Financing Cash Flow, Discretionary Accruals and Stock Return of Firms Listed in Nairobi Securities Exchange, Kenya

The purpose of the study was to establish effect financing cash flow on stock return and test moderating discretionary accruals relationship between return. Panel data collected from 29 listed non-financial firms at NSE for 12 years 2007-2019. Fixed hierarchical regression analysis showed that had a positive significant while negatively moderate flows returns. concludes improves return, however, high adversely reduce Therefore, recommends should enact incisive regulations pertaining accrual practices its implication protect investor vulnerability losses in their investment due managers’ opportunistic behaviours.