재무이익－세무이익 차이의 세부구성항목을 이용한 적자회피 이익조정 분석

Abstract

This study investigates whether components of book－tax differences are useful in detecting earnings management to avoid losses. Our intention is to combine previous research on earnings management to avoid reporting losses and on book－tax differences as a measure of earnings manipulation.We first examine whether book－tax differences can be a proxy for earnings management. Two measures are tested：temporary differences calculated from footnote information; and the changes in net deferred tax liabilities. We find that both measures are incrementally useful over discretionary accruals in detecting earnings management to avoid losses. Next, we test which components of temporary book－tax differences are used to manipulate earnings in the current setting. Results suggest that inventory, equity method investments, and allowance for bad debts accounts are useful in explaining the likelihood of earnings management to avoid losses.

본 연구는 적자회피 이익조정에 관한 연구와 재무이익-세무이익간의 차이 변수들이 이익조정행위를 발견하는데 유용하다는 선행연구를 토대로 하여 경영자들이 적자회피 이익조정을 실시한다면 이를 발견하는데 유용한 구체적 항목이 무엇인지 분석하고자 하였다.