SUMMARYNew results are presented here for finite volume (FV) methods that use flux vector splitting (FVS) along with higher-order reconstruction schemes. Apart from spectral accuracy of the resultant methods, the numerical stability is investigated which restricts the allowable time step or the Courant -Friedrich -Lewy (CFL) number. Also the dispersion relation preservation (DRP) property of various spatial and temporal discretization schemes is investigated. The DRP property simultaneously fixes space and time steps. This aspect of numerical schemes is important for simulation of high-Reynolds number flows, compressible flows with shock(s) and computational aero-acoustics. It is shown here that for direct numerical simulation applications, the DRP property is more restrictive than stability criteria.