적자회피 이익조정과 수익비용대응 : 한국기업을 대상으로 = Loss Avoiding Earnings Management and The Matching Principle : Korean evidence

다국어 초록 (Multilingual Abstract)

This study examines the relation between Loss avoiding earnings management and The matching principle between revenues and expenses. The traditional role and importance of the matching principle has diminished mainly because firms in many industries experience structural changes(ex: such as increasing overhead costs and intangible expenditures and managerial discretion).
Private interests of manager for opportunistic earnings management that is used as a means of lowering the quality of earnings, these earnings gains in terms of improving the neutrality of the matching principle of cost to improve the quality of earnings to negative (-) affect is assumed.
However, earnings management of managers to the matching principle necessarily enervate revenue costs can not affirm that. This one the Corporate managers do look at the behavior of earnings management is unknown. Net income the subject of the earnings management in the revenue is the amount after deducting the cost. Therefore, to avoid the loss of corporate earnings in the losses to increase earnings management is likely to run. In order to increase Net income and revenue and reducing costs to increase earnings management should be. However, manager's want to increase Net income, the difference between methods earnings management are likely to exist. Thus, depending on how the earnings management impact of the relevance of the matching principle can also vary.
This study, as suggested by Leading research to increase Net income loss avoidance firm are suspected sample of and otherwise firm revenue costs between the two groups the difference is the relevance of the matching principle were investigated. This the matching principle to earnings management rather than revenue costs can strengthen empirical evidence is presented.
To measure the degree of The matching principle between revenues and expenses, I rely on Dichev and Tang’s (2008) model where current-period revenue is regressed on past-period, current-period, and next-period expenses. In particular, I modify Dichev and Tang’s (2008) model by focusing on and next-period expenses. In particular, I modify Dichev and Tang’s (2008) model by focusing on the contemporaneous association (adjusted R2) between revenues and expenses.
Empirical analysis is performed for the sample consisting of 4,742 non-financial firm-years with December fiscal year that are traded over Korea Exchange for 2001-2010.
Empirical findings generally support my expectation that Loss Avoiding earnings management suspect firm for more the matching principle than otherwise. Specifically, compared to non-loss Avoiding earnings management firms, more-loss Avoiding earnings management firms show higher the matching principle between revenues and expenses.
To the extent that the objective of financial reporting is to provide information users with useful information for their economic decisions, the results in this study provide policy implication of whether such objective will be achieved effectively.

참고문헌 (Reference)

• 1 백원선, "회계환경의 변화와 수익비용대응원칙" 한국경영학회 40 (40): 29-49, 2011
• 2 송인만, "적자보고를 회피하기 위한 이익조정" 한국회계학회 13 (13): 29-52, 2004
• 3 김지홍, "적자 회피 및 이익 평준화를 위한 실제 이익조정 활동" 한국회계학회 17 (17): 31-63, 2008
• 4 고종권, "재무이익－세무이익 차이의 세부구성항목을 이용한 적자회피 이익조정 분석" 한국세무학회 23 (23): 65-102, 2006
• 5 최광현, "연구개발비 회계처리 방법의 선택에 관 한 연구" 한국산업경영학회 11 : 193-222, 1996
• 6 백원선, "수익비용대응원칙과 이익의 질" 한국회계학회 36 (36): 101-127, 2011
• 7 박한순, "부동산처분이익을 이용한 이익조절" 한국회계학회 26 (26): 87-104, 2001
• 8 김정옥, "보수주의와 발생액" 한국회계학회 18 (18): 1-31, 2009
• 9 김정옥, "기업의 특성이 회계보수성에 미치는 영향: 지배구조를 중심으로" 한국회계학회 31 (31): 69-96, 2006
• 10 Bartov, E., "The Timing of Asset Sales and Earnings Manipulation" 68 (68): 840-855, 1993
• 11 Devine, C. T., "The Rule of Conservatism Reexamined" 1 : 127-138, 1963
• 12 Holthausen, R. W, "The Relevance of the Value-Relevance Literature for Financial Accounting Standard Setting" 31 : 3-75, 2001
• 13 Bushee, B., "The Influence of Institutional Investors on Myopic R&D Investment Behavior" 73 : 305-333, 1998
• 14 Ball, R., "The Effect of International Institutional Factors on Properties of Accounting Earnings" 29 : 1-51, 2000
• 15 Basu, S., "The Conservatism Principle and the Asymmetric Timeliness of Earnings" 24 : 3-37, 1997
• 16 Levitt, A., "Text of Speech Given on September 28" 1998 at New York University Center for Law and Business 1998
• 17 Bens, D., "Real Investment Implications of Employee Stock Option Exercises" 40 : 359-393, 2002
• 18 Dichev, I., "Matching and the Changing Properties of Accounting Earnings over the Last 40 Years" 83 : 1425-1460, 2008
• 19 송인만, "K-IFRS 중급재무회계" 도서출판 신영사 2010
• 20 Dechow, P., "Executive Incentives and the Horizon Problem : An Empirical Investigation" 4 (4): 51-89, 1991
• 21 Dechow, "Earnings management: Reconciling the Views of Accounting Academics, Practitioners, and Regulators" 235-250, 2000
• 22 Burgsthahler, D., "Earnings Management to Avoid Earnings Decreases and Losses" 24 : 99-126, 1997
• 23 Roychowdhury, S., "Earnings Management through Real Activities Manipulation" 42 (42): 335-370, 2006
• 24 Schipper, K., "Commentary on Earnings Management" 3 : 91-102, 1989