법인세부담 완화를 위한 재량적 발생액의 조정

The study aims to test whether managers control reported earnings to mitigate the tax burden. Managers sometimes should make decisions on whichever cost is taken into account more importantly, either financial reporting costs or tax costs. The study sets three hypotheses, whose main point is that DA, BTD, and DTL are smaller under higher ETR. To test the hypotheses, the models include the discretionary accruals(DA), the difference between the net income before income tax and the taxable income(BTD), and the deferred tax liabilities( DTL) as dependent variables. Also the test models contains the effective tax rates(ETR) as a main independent variable. To test if managers intend to minimize the reported earnings because of high tax burden, the study uses two types of regression model, the multiple regression model and the logistics regression model. The test sample consists of 747 firm-year data, selected from the KSE listed companies of 1999 - 2002. The study concludes the followings : First, the tax burden takes a negative effect on the discretionary accruals. This means that managers manage earnings downward to lighten the tax burden. Secondly, under the heavier tax burden, the differences between the net income before income tax and the taxable income were smaller. This result suggests that managers tend to report earnings downward in order to mitigate the tax burden. Thirdly, the less deferred tax liabilities were observed under the higher tax burden. The result coincides with the above implications.