هزينه حقوق صاحبان سهام و ويژگي هاي سود

Cost Of Equity and Earnings Attributes

This Paper exmines The ralation between Cost Of equity and four accounting-based earnings attributers including accrual quality,persistence, Prwdictability and smoothness in fims listed on Tehran Stock Exchange (TSE) for the period of 2000 to 2005. This study is motivated by the recent reseasrches about relattion between cost of equity and various dimensions Of earnings quality [21] and Investigtorsʹ attention to earnings quality. Investigating relation between Cost of equity and each earnings atributes, Considered individually, finds negative relation between cost of equity and earnings persistence only. The research also finds that among earnings attributes, earnings persistence has the latgest efeects on cost of equity. Results from examining relation between cost of equity and four earnings attributes, considered together,indicate that cost of eqity has negative relation with persistence and smoothness, and no relation with accrual quality and predictability.