the impact of income smoothing on the future earnings response coefficients coefficient with the effect of moderating different information environments

the aim of this study is to determine the effect of the income smoothing on the future earnings response coefficient taking into account the effect of the information environment. future earnings response coefficient is used as a measure for evaluation of stock price information content which represents the relationship between current stock returns and future earnings. information environment criteria include disclosure quality, firm size, number and accuracy of the management predicted earnings. to achieve the goal of the research, 115 firms listed in tehran stock exchange during the years 2003 to 2014 were selected as a sample. also, to test the hypotheses, multiple regression and panel data are used. the findings show that the income smoothing has a significantly negative effect on the future earnings response coefficient. of the information environment criteria, disclosure quality, number and accuracy of predicted earnings have a significantly positive effect on the future earnings response coefficient. the results show that the strong information environment causes the significantly increasing in the future earnings response coefficient through the income smoothing.