본 연구는 한국 상장기업들이 이익관리를 할 때 어느 수단을 이용하는지를 실증적으로 연구하였다. 이를 위하여 1995년부터 2001년까지의 기업-년자료 2,895개를 발생액의 정도에 따라 각각 이...
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https://www.riss.kr/link?id=A95941307
2004
Korean
325.9
KCI등재,SCOPUS
학술저널
33-59(27쪽)
60
0
상세조회0
다운로드국문 초록 (Abstract)
본 연구는 한국 상장기업들이 이익관리를 할 때 어느 수단을 이용하는지를 실증적으로 연구하였다. 이를 위하여 1995년부터 2001년까지의 기업-년자료 2,895개를 발생액의 정도에 따라 각각 이...
본 연구는 한국 상장기업들이 이익관리를 할 때 어느 수단을 이용하는지를 실증적으로 연구하였다. 이를 위하여 1995년부터 2001년까지의 기업-년자료 2,895개를 발생액의 정도에 따라 각각 이익증가집단, 중간집단 및 이익감소집단으로 구분하여 이익관리수단에 어떤 체계적인 차이가 있는지를 분석하였다. 본 연구에서는 영업활동으로 인한 현금흐름과 함께 회계이익을 구성하는 발생액을 3단계에 걸쳐 체계적으로 구분하였으며, 기업들이 보고이익을 증가하거나 감소시킬 때 어느 수단을 활용하는지를 검토하였다. 실증분석결과 보고이익증가집단과 보고이익감소집단 간에는 기업들이 활용하는 이익관리수단에 상당한 차이가 있는 것으로 나타났다. 구체적으로 보면 이익증가집단은 자산처분차익을 주로 활용하는 반면, 이익감소집단은 대손상각비와 자산처분차손을 주로 활용하는 것으로 나타났다.
다국어 초록 (Multilingual Abstract)
In this study, I investigated 2,895 firm-year observations from the period of 1995 to 2001 to identify the vehicles that Korean firms use when the firms manage earnings. I partitioned the sample into three equal size sub-samples based on discretionary...
In this study, I investigated 2,895 firm-year observations from the period of 1995 to 2001 to identify the vehicles that Korean firms use when the firms manage earnings. I partitioned the sample into three equal size sub-samples based on discretionary accruals in order to distinguish income- increasing firms from income-decreasing firms. The low accrual firms are defined as income-decreasing firms while the high accrual firms are considered income-increasing firms in this study. I used a systematic decomposition approach to examine the relationships between the degree of earnings management and the primary tools firms use. Accounting earnings can be broken into cash flows from operations and total accruals. Total accruals, in turn, are broken into non-current accruals and current accruals(First-tier decomposition). Non-current accruals then are broken down into non-cash expenses and non-cash revenues. Current accruals are separated into changes in operation-related assets and operation-related liabilities(Second-tier decomposition). Finally, accruals are separated into individual elements including depreciation expenses, bad-debt expenses, retirement benefits expenses, asset disposal losses, changes in accounts receivable, changes in inventory, changes in accounts payable, other non-current accruals and other current accruals(Third-tier decomposition). Discretionary accruals are estimated by regressing total accruals on three explanatory variables. Two variables(change in cash revenues and change in cash expenses) proxy for current accruals and a sum of depreciation and retirement benefits expenses proxies for non-current accruals. I then examine if the earnings management vehicles firms use follow some particular patterns depending upon the extent of earnings management. To identify the particular patterns of earnings management vehicles, I use three tests of mean difference tests, correlation tests and regression analyses. The empirical results of the study reveal that there are clear differences between income-increasing firms and income-decreasing firms in the employment of earnings management vehicles. More specifically, income-increasing firms depend heavily on non-cash gains when the firms increase reported earnings. In contrast, income-decreasing firms depend heavily on non-cash expenses including bad debt expenses and asset disposition losses.
참고문헌 (Reference)
1 "Underperformance in long-run stock returns following seasoned equity offerings" 38 : 243-267, 1995
2 "The use of accounting performance measures in proxy contest Journal of Accounting and Economics" 3-36, 1988
3 "The effects of bonus schemes of accounting decisions" (april) : 85-107, 1985
4 "The Operating Performance of Firms Conducting Seasoned Equity Offerings" (december) : 1823-1850, 1997
5 "The Numbers Game, speech delivered at New York University Center for Law and Business" (28) : 1998
6 "The Effects of Antitrust Investigation on Discretionary Accruals A Refined Test of Political-Cost Hypothesis" 77-95, 1992
7 "Political Costs and Earnings Management of Oil Companies During the 1990 Persian Gulf Crisis" (january) : 103-117, 1998
8 "Manipulation of extreme earnings" (december) : 47-66, 1996
9 "Labor union contract negotiations and accounting choices" (october) : 692-712, 1986
10 "Evidence of Earnings Management from the Provision for Bad Debts" 1-31, 1988
1 "Underperformance in long-run stock returns following seasoned equity offerings" 38 : 243-267, 1995
2 "The use of accounting performance measures in proxy contest Journal of Accounting and Economics" 3-36, 1988
3 "The effects of bonus schemes of accounting decisions" (april) : 85-107, 1985
4 "The Operating Performance of Firms Conducting Seasoned Equity Offerings" (december) : 1823-1850, 1997
5 "The Numbers Game, speech delivered at New York University Center for Law and Business" (28) : 1998
6 "The Effects of Antitrust Investigation on Discretionary Accruals A Refined Test of Political-Cost Hypothesis" 77-95, 1992
7 "Political Costs and Earnings Management of Oil Companies During the 1990 Persian Gulf Crisis" (january) : 103-117, 1998
8 "Manipulation of extreme earnings" (december) : 47-66, 1996
9 "Labor union contract negotiations and accounting choices" (october) : 692-712, 1986
10 "Evidence of Earnings Management from the Provision for Bad Debts" 1-31, 1988
11 "Earnings management through prior period adjustments" (december) : 123-142, 1996
12 "Earnings management preceding management buyout offers" (september) : 157-179, 1994
13 "Earnings management of seasoned equity offering firms in Korea" 37 : 57-68, 2002
14 "Earnings management of seasoned equity offering firms" (december) : 1-25, 2001
15 "Earnings management of firms conducting seasoned equity offerings" (december) : 1-27, 1999
16 "Earnings management in response to corporate tax rate changes" (december) : 143-176, 1996
17 "Earnings management and the underperformance of seasoned equity offerings" 50 : 63-99, 1998
18 "Earnings management and the performance of seasoned equity offerings" 50 : 101-122, 1998
19 "Earnings management and incentive for minimizing corporate income taxes" (march) : 115-139, 1999
20 "Earnings Management during Import Relief Investigations" (autumn) : 193-228, 1991
21 "Discretionary behavior with respect to allowances for loan losses and the behavior of security prices" 22 : 73-95, 1996
22 "Detecting Earnings Management" 193-225, 1995
23 "Cash from operations and earnings management in Korea" 37 : 395-412, 2002
24 "Annual bonus schemes and the manipulation of earnings" (February) : 29-74, 1995
25 "Additional evidence on the association between income management and earnings-based bonus plans" (January) : 3-28, 1995
26 "Accounting Numbers as Market Valuation Substitutes A Study of Management Buyouts of Public Stockholders" 400-420, 1986
27 "A study on the earnings management practice that depends on cash from operation" (march) : 107-126, 1998
28 "A comparison of earnings management between KSE firms and KOSDAQ firms" 29 : 57-85, 2001
학술지 이력
연월일 | 이력구분 | 이력상세 | 등재구분 |
---|---|---|---|
2020 | 평가예정 | 계속평가 신청대상 (등재유지) | |
2015-01-01 | 평가 | 우수등재학술지 선정 (계속평가) | |
2011-01-01 | 평가 | 등재학술지 유지 (등재유지) | |
2009-01-01 | 평가 | 등재학술지 유지 (등재유지) | |
2007-01-01 | 평가 | 등재학술지 유지 (등재유지) | |
2005-01-01 | 평가 | 등재학술지 유지 (등재유지) | |
2002-01-01 | 평가 | 등재학술지 선정 (등재후보2차) | |
1999-07-01 | 평가 | 등재후보학술지 선정 (신규평가) |
학술지 인용정보
기준연도 | WOS-KCI 통합IF(2년) | KCIF(2년) | KCIF(3년) |
---|---|---|---|
2016 | 1.96 | 1.96 | 2.48 |
KCIF(4년) | KCIF(5년) | 중심성지수(3년) | 즉시성지수 |
2.65 | 2.74 | 5.829 | 0.22 |