The objective of this study was to investigate the relationship between earning qualityand dividend yield. The basis of the study was the total accruals relationshipmeasurement. The population of this study is the listed companies in SET, butexcludes financial institutions such as the commercial bank group, broker group, andinsurance companies. The representative of each group is classified by means ofdividend yield. In addition, this paper divides the means of dividend yield into 3 groups,which are (1) the highest dividend yield firms (2) equal to industry dividend yield firms and(3) the lowest dividend yield firms, and especially, all firms must have participated forthe full length of the study, and continued to provide information during the 2003-2007 period of the study. Moreover, this paper also separates data into 2 types ofexecutives, family members and non-family members. This study employs stepwisemultiple regression to seek out the relationship between model variables. Thistechnique can eliminate the multicollinearity problem from the regression model.The result of the study points out that non-discretionary items, discretionary items,and earning quality signal items essentially influence the changing of total accruals.According to the co-efficient of correlation and co-efficient of determination, theindependent variables from prior research have produced exactly the same result aswhen they were originally constructed. Furthermore, the relationship between thedependent variable and independent variables is in the positive direction. Finally, thestudy shows that dividend yield is one of the earning quality signals, because not only total accruals but also earning quality signals can be determined by the dividend yield.