Bao, Ben-Hsien; Bao, Da-Hsien - In: Journal of Business Finance & Accounting 31 (2004-11) 9-10, pp. 1525-1557
<heading id="h1" level="3" format="inline" implicit="no">Abstract: </heading>This study argues that lower variability of earnings does not guarantee income smoothers' higher firm values. Instead, smoothers' earnings should be more value-relevant if they are of high quality, i.e., earnings quality should be considered simultaneously. Sample firms are divided...