Dividend Policy Mediating on Quality of Corporate Governance and Informative Income Smoothing

Iranian Journal of Accounting, Auditing and Finance

مقاله 1، دوره 1، شماره 1، اردیبهشت 2017   

نوع مقاله: Accounting

شناسه دیجیتال (DOI): 10.22067/ijaaf.v1i1.68579

نویسندگان

Gholamreza Mansourfar^* ؛ Hamzeh Didar؛ Parisa Khayat Sadigh

Urmia University

چکیده

The present study investigates the mediating effect of the dividend policy on the relationship between corporate governance quality and informative income smoothing. Tucker and Zarowin (TZ) and Albrecht and Richardson (AR) approaches are utilized as proxies of informative income smoothing. In addition, an accumulated coding method and dividend are applied to measure the corporate governance quality and dividend policy, respectively. By applying a systematic elimination method, 109 firms remained as the final sample for the period from 2007 to 2014. Using the TZ method, we found that there is a significant and positive relationship between corporate governance quality and informative income smoothing. Finally, according to the results of Sobel’s Test, the role of dividend policy as a mediating variable was not verified in the relationship between corporate governance quality and informative corporate governance (TZ); however, if the AR method is used for measuring informative income smoothing, the dividend policy may mediate the relationship between corporate governance quality and informative income smoothing.

کلیدواژه‌ها

Dividend policy؛ Informative income smoothing؛ Quality of corporate governance