Earnings Smoothing, Firms Reputation and Stock Return
碩士 === 中國文化大學 === 會計學系 === 99 === This study discussion on whether earnings smoothing and firm reputation affect to stock return. And use the listed company for data from 2008 to 2009. The first section in this study research for income smoothing of company and we classify two way to smooth firm’s e...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2011
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| Online Access: | http://ndltd.ncl.edu.tw/handle/63047982395679127390 |
| Summary: | 碩士 === 中國文化大學 === 會計學系 === 99 === This study discussion on whether earnings smoothing and firm reputation affect to stock return. And use the listed company for data from 2008 to 2009. The first section in this study research for income smoothing of company and we classify two way to smooth firm’s earning, accruals and non-operation income. I find that stock returns would be affected by the smoothing effect of non-operation. But I can’t find the evidence that the smoothing effect can affect stock return by accrual.
The second section in this study discussion about firm reputation. Prior study indicated that acknowledge error exist in investors and analyst. They always believe that a good company also had good return in its stock. And I expect the relationship between firm reputation and stock return would be negative. And my hypothesis was confirmed.
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