科研之友
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摘要
We examine whether dividend paying status is associated with the quality of earnings. We find dividend paying status is associated with (1) lower absolute values of discretionary accruals; (2) lower standard deviation and absolute magnitude of the errors associated with the mapping of accruals into cash flows; and (3) more value relevant earnings. We also find evidence that the positive association between dividend paying status and earnings quality is stronger (weaker) when the size of dividend pay-outs is larger (smaller). Overall, our results suggest dividend paying status is indicative of firms' earnings quality.
- 出版日期2011-3
- 单位南阳理工学院
