Based on listed firms in China A-share market from 2003 to 2015，this paper investigates how different types of income smoothing affect future crash risk． Our empirical results show that income smoothing has no impact on future crash risk． However，after decomposing income smoothing into informative income smoothing and garbling income smoothing，informative income smoothing significantly reduce crash risk while garbling income smoothing significantly increase crash risk． In additional tests，our results show that the information environment has a significant impact on the effect of income smoothing on future crash risk． When the information environment is poor，informative income smoothing ( garbling income smoothing) has more significant negative ( positive) impact on crash risk． This paper not only provides evidence on what factors affect crash risk but also helps us to better understand how income smoothing works in capital markets，which is meaningful to reduce crash risk and maintain the safety and soundness of capital markets．