The Relationship between Free Cash Flow Risk with different types of Practices in Earnings Management of listed companies in Tehran Stock Exchange

Among the agencies problems grappled with is free cash flow in projects with negative net present value which causes losses for investors. The creditors are also concerned about financing those projects because of the lack of information asymmetry. The goal of this study is to investigate the relationship between free cash flow risk with different types of earnings management. To do so, the financial information of ۱۰۷ companies listed in Tehran Stock Exchange from ۲۰۰۸ to ۲۰۱۴ was investigated. Multiple regression with pooled data was used to analyze the way free cash flow risk associates with different kinds of earnings management. The results show that there is a positive relationship between free cash flow risk with earnings management based on accruals and a negative one between free cash flow risk with real earnings management. There is also another positive relationship found in free cash flow risk with overall level of earnings management.

کلیدواژه ها:

Free Cash Flow Risk ، Accruals Earnings Management ، Real Earnings Management ، Overall level of Earnings Management. ، ریسک جریان نقدی آزاد ، مدیریت سود اقلام تعهدی ، مدیریت سود واقعی ، سطح کلی مدیریت سود.