Empirical Analysis the relationship between Discretionary Earnings Smoothing and Firm’s Value Creation

چکیده مقاله

The main purpose oft his research is investigation the relationship between discretionary earnings smoothing and firm market value empiricaly. Discretionary earnings smoothing is measured based on the standard deviation of unexpected reported earnings to the standard deviation of unexpected premanaged earnings. The research sample includes 225 companies listed in Tehran Stock Exchange over the period 2011 - 2015. Also, it is analyzed the effect of size, profitability, capital expenditure, financial leverage, revenue growth and cash flow volatility on firm market value. The hypothesis analyzed by multivariate regression model using panel data. The results indicated that there is a meaningful and negative relationship between discretionary earnings smoothing index and firm market value

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