The Testing for the Moderating Effect of CFO Turnover to Income Smoothing and Earnings Informativeness
| Autor: | Jen-Hao Kuo, 郭人豪 |
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| Rok vydání: | 2011 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 99 Prior literatures suggest that the income smoothing deteriorates the earnings informativeness. In this study, we examine whether the However, this can improve earnings informativeness. Further, we investigate whether the CFO turnover adjusts the income smoothing and earnings informativeness. We examine a sample of 5726 cases, from 1996 to 2007. We evaluate the extent of income smoothing by prior study method (Leuz et al., 2003; Myers et al., 2006; Tucker and Zarowin, 2006). Further, we solve the multicollinearity problems using the cross-product residual-centering approach (Lance, 1988). The result shows that earning response coefficient and future earning response coefficient are significantly positive, it explain current earnings and stock return contain the information of future earnings. Firm engage in income smoothing, it can improve the earnings informativeness, and then provides a positive signal to investors. However, the information is reflected in stock prices. The CFO turnover can improve the relationship between and earnings informativeness. The frequency of CFO turnover can improve the quality of financial statement and the earnings informativeness. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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