The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
A Theory of Income and Dividend Smoothing Based on Incumbency Rents
Open accessAbstract
"Income smoothing" is the process of manipulating the time profile of earnings or earnings reports to make the reported income stream less variable. This paper builds a theory of income smoothing based on the managers' concern about keeping their position or avoiding interference, and on the idea that current performance receives more weight than past performance when one is assessing the future. When investment is added to the model, so that income reports and dividends can be set independently, we find that both dividends and income reports may be smoothed and that dividends may convey information not present in the income report.
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Citations
Cites
The effects of bonus schemes on accounting decisions
Healy, P. M. (2011) · DSpace@MIT (Massachusetts Institute of Technology) · Cited by 2,579
Earnings Management in an Overlapping Generations Model
Dye, R. A. (1988) · Journal of Accounting Research · doi:10.2307/2491102 · Cited by 730
Smoothing income numbers : objectives, means, and implications
Ronen, J., & Sadan, S. (1981) · Medical Entomology and Zoology · Cited by 395
Cited by
Institutional monitoring and opportunistic earnings management
Chung, R., Firth, M., & Kim, J.-B. (2002) · Journal of Corporate Finance · doi:10.1016/s0929-1199(01)00039-6 · Cited by 940
Environmental uncertainty and managers’ use of discretionary accruals
Ghosh, D., & Olsen, L. (2009) · Accounting, Organizations and Society · doi:10.1016/j.aos.2008.07.001 · Cited by 503
Firms’ earnings smoothing, corporate social responsibility, and valuation
Gao, L., & Zhang, J. H. (2015) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2015.03.004 · Cited by 254
Farre-Mensa, J., Michaely, R., & Schmalz, M. (2014) · Annual Review of Financial Economics · doi:10.1146/annurev-financial-110613-034259 · Cited by 224
Metadata
- Authors
- Fudenberg, D., & Tirole, J.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1995-02
- Volume
- 103
- Issue
- 1
- Pages
- 75-93
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2112952087
- Cited by
- 760
- References
- 3
- FWCI
- 18.38
- Type
- journal article
- Language
- en
- Open access
- green
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- Fudenberg, D., & Tirole, J. (1995). A Theory of Income and Dividend Smoothing Based on Incumbency Rents. Journal of Political Economy. https://doi.org/10.1086/261976
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
