@article{Phetruen_2020, title={Independent directors, family firms and income smoothing}, volume={11}, url={https://so02.tci-thaijo.org/index.php/mbs/article/view/216474}, abstractNote={<p>The objective of this study is to investigate the relationship between independent directors and income smoothing and the effect of family firms on the effectiveness of independent directors of Thai listed companies.  A sample consists of non-financial 497 firms listed on The Stock Exchange of Thailand and the Market for Alternative Investment (MAI). Financial data of the sample between 2008 and 2017 were collected and analysed by multiple regression analysis. Overall, the results show independent directors on the board have no significant relationship with income smoothing. However, the findings from the analysis of the sample consists of only non-family firms and family firms separately show that independent directors on the board have a negatively significant relationship with income smoothing for non-family firms but show no evidence of such relationship for the family firms. In addition, inclusion of the interaction term between independent directors and family firms into the analysis reveals that the family firm has a negative effect on the supervisory effectiveness regarding financial reporting of independent directors.</p>}, number={4}, journal={Journal of Accountancy and Management}, author={Phetruen, Warawit}, year={2020}, month={Jan.}, pages={133–145} }