Cash Distributions to Shareholders and The Relation between Agency Costs and Conditional Conservatism

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MANSOURFAR GHOLAMREZA; HEJAZI REZVAN; Nourifar Zeinab

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Journal Paper

Paper Information

Journal: Journal of Empirical Research in Accounting Year:2020 | Volume:9 | Issue:36 Page(s): 115-137

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Information Journal Paper

Title

Cash Distributions to Shareholders and The Relation between Agency Costs and Conditional Conservatism

Author(s)

MANSOURFAR GHOLAMREZA | HEJAZI REZVAN | Nourifar Zeinab | Issue Writer Certificate

Keywords

agency costsQ2

free cash flowQ1

cash distributionsQ1

conservatismQ2

Abstract

This study examines the effect of cash distributions to shareholders on the relation between agency costs and conditional conservatism. The sample consists of 104 firms listed in TSE in the period from 2006-2014. Analysis of evidence based on panel data shows that there is a significant positive relation between the agency cost and demand for conditional conservatism. The relation between cash distribution and conditional conservatism is not significant. In addition, cash distribution has a significant and positive effect on the relation between agency costs and conditional conservatism. More dividend payments creates a conflict of interest between shareholders and creditors so, demand for conservatism increases from both creditors and shareholders. In such a situation, it is expected that accounting conservatism may create incentives for efficient investment decisions, facilitate the monitor of management investment decisions and ultimately lead to reduction of agency problems. Therefore, firms with high-level excess cash have higher levels of conservatism.

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APA: Copy

MANSOURFAR, GHOLAMREZA, HEJAZI, REZVAN, & Nourifar, Zeinab. (2020). Cash Distributions to Shareholders and The Relation between Agency Costs and Conditional Conservatism. JOURNAL OF EMPIRICAL RESEARCH IN ACCOUNTING, 9(36 ), 115-137. SID. https://sid.ir/paper/387358/en

Vancouver: Copy

MANSOURFAR GHOLAMREZA, HEJAZI REZVAN, Nourifar Zeinab. Cash Distributions to Shareholders and The Relation between Agency Costs and Conditional Conservatism. JOURNAL OF EMPIRICAL RESEARCH IN ACCOUNTING[Internet]. 2020;9(36 ):115-137. Available from: https://sid.ir/paper/387358/en

IEEE: Copy

GHOLAMREZA MANSOURFAR, REZVAN HEJAZI, and Zeinab Nourifar, “Cash Distributions to Shareholders and The Relation between Agency Costs and Conditional Conservatism,” JOURNAL OF EMPIRICAL RESEARCH IN ACCOUNTING, vol. 9, no. 36 , pp. 115–137, 2020, [Online]. Available: https://sid.ir/paper/387358/en

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