文章基本信息

标题：The Relationship between Intellectual Capital and Income Smoothing and Stock Returns
本地全文：下载
作者：Hamidreza Vakilifard ; Masoumeh Sadat Rasouli
期刊名称：Financial Assets and Investing
印刷版ISSN：1804-5081
电子版ISSN：1804-509X
出版年度：2013
卷号：4
期号：2
页码：28-42
DOI：10.5817/FAI2013-2-3
语种：English
出版社：Masaryk University
摘要：This article examines the relationship between intellectual capital,income smoothing and stock returns.We are capturing income smoothing through total accruals.Income smoothing firms have significantly higher abnormal returns around earnings announcement.In the knowledge economy,intellectual capital has become one of the primary sources of competitive advantage for a firm.Given the remarkable shift in the underlying production factors of a business within the new knowledge economy,it is important for firms to be aware of the elements of intellectual capital that would lead to value creation.So we associated relationship between intellectual capital and income smoothing and stock returns.The sample includes 108 firm-year observations from 2006 to 2011.We have used five variables.
关键词：intellectual capital;income smoothing;stock returns;structural capital;human capital