Earnings quality and cost of equity capital: evidence from Tunisia

被引：7
|
作者：
Fatma, Triki [1 ]
Abdelwahed, Omri [1 ]
机构：
[1] Inst Higher Management Tunis, Res Unit Finance & Strategy Businesses, 41 Rue Liberte, Tunis 2000, Tunisia
来源：
INTERNATIONAL JOURNAL OF MANAGERIAL AND FINANCIAL ACCOUNTING | 2010年 / 2卷 / 02期
关键词：
earnings quality; cost of equity capital; Tunisian's listed firms; Tunisia;
D O I：
10.1504/IJMFA.2010.033289
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This article identifies the relation between earnings quality and the cost of equity capital of Tunisian listed firms. Using the Fama and French's (1993) model, we find that there is a statistically significant relationship between our proxies of earnings quality and cost of equity capital. This result supports theoretical models predicting that investors are interested in information that reflects correctly the firm's financial situation. The absence of information asymmetry encourages them to diversify their portfolio, reducing by that the cost of equity capital.
引用
收藏
页码：161 / 176
页数：16
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