The Impact of Disclosure Quality and Quality of Information Environment on Dividend Smoothing

The desire to change the dividend payment method is due to the lack of transparency in the financial situation and the undesirable structure of financial reporting so that managers try to limit the changes in dividends to cover the risks of lack of transparency. In this paper, the goal is to examine the dividend smoothing based on the quality of disclosure and the quality of the information environment. For this purpose, the data of the companies listed in the Tehran Stock Exchange for the period 1388 to 1395 have been extracted and the combined data regression model has been used to test the hypotheses of the research. The results of the research indicate the confirmation of research hypotheses. In other words, the results of the research indicate that dividends smoothing is a function of disclosure quality criteria. Also, the quality of information environment has a significant effect on the dividends smoothing. But when the level of disclosure quality changes, the quality of information also changes and it affects the dividend smoothing so that, by changing the level of interactive effect of disclosure quality and information environment, dividends smoothing also fluctuates and changes.