تأثیر هموارسازی سود بر ضریب واکنش سودهای آتی با اثر تعدیل‌گر محیط‌های مختلف اطلاعاتی

نوع مقاله: مقاله علمی پژوهشی

نویسندگان

1 استادیار گروه حسابداری و مدیریت، دانشکدۀ علوم انسانی، دانشگاه زنجان، زنجان، ایران

2 دانشجوی کارشناسی ارشد حسابداری، دانشکدۀ اقتصاد و مدیریت، دانشگاه ارومیه، ارومیه، ایران

چکیده

هدف پژوهش حاضر تعیین تأثیر هموارسازی سود بر ضریب واکنش سودهای آتی با در نظرگرفتن اثر محیط اطلاعاتی است. از ضریب واکنش سودهای آتی، به‎عنوان معیاری برای سنجش محتوای اطلاعاتی قیمت سهام استفاده‎شده که بیان‎کنندۀ رابطۀ بین بازده جاری سهام و سودهای آتی است. معیارهای محیط اطلاعاتی، دربردارندۀ متغیرهای کیفیت افشا، اندازۀ شرکت، تعداد و دقت سود پیش­بینی­شدۀ مدیریت است. برای دستیابی به هدف پژوهش، 115 شرکت از بین شرکت‌های پذیرفته‌شده در بازار اوراق بهادار تهران طی سال­های 1382 تا 1393 برای نمونۀ آماری انتخاب شدند؛ همچنین، برای آزمون فرضیه‌ها از رگرسیون چندمتغیره و داده­های ترکیبی استفاده ‌شده است. یافته‌ها حاکی از آن است که هموارسازی سود بر ضریب واکنش سودهای آتی تأثیر منفی و معنا­داری دارد. از معیارهای محیط اطلاعاتی نیز کیفیت افشا، تعداد و دقت سود پیش­بینی­شده بر ضریب واکنش سودهای آتی اثر مثبت و معنا­داری می‎گذارد. از یافته‎های دیگر اینکه محیط اطلاعاتی قوی موجب می­شود هموارسازی سود، ضریب واکنش سودهای آتی را به‌طور معناداری افزایش دهد.
 

کلیدواژه‌ها


عنوان مقاله [English]

The Impact of Income Smoothing on the Future Earnings Response Coefficients Coefficient with the Effect of Moderating Different Information Environments

نویسندگان [English]

  • Mohammad Imani Barandagh 1
  • Sohrab Abdi 2
1 Accounting Assistant - University of Zanjan
چکیده [English]

The aim of this study is to determine the effect of the income smoothing on the future earnings response coefficient taking into account the effect of the information environment. Future earnings response coefficient is used as a measure for evaluation of stock price information content which represents the relationship between current stock returns and future earnings. Information environment criteria include disclosure quality, firm size, number and accuracy of the management predicted earnings. To achieve the goal of the research, 115 firms listed in Tehran Stock Exchange during the years 2003 to 2014 were selected as a sample. Also, to test the hypotheses, multiple regression and panel data are used. The findings show that the income smoothing has a significantly negative effect on the future earnings response coefficient. Of the Information environment criteria, disclosure quality, number and accuracy of predicted earnings have a significantly positive effect on the future earnings response coefficient. The results show that the strong information environment causes the significantly increasing in the future earnings response coefficient through the income smoothing.

کلیدواژه‌ها [English]

  • future earnings response coefficient
  • Income Smoothing
  • Information Environments
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