기업지배구조의 개선이 경영자의 이익조정에 미치는 영향

>This study analyzes empirically the relationship between improvement of Corporate Governance and Earning Management. The improvement of Corporate Governance and Earning Management proxy is Corporate Governance Index and discretionary accruals. Excepting financial institutions and insurance, samples were used 2,055 year－firms from financial statements for the period of 2003－2006, firms listed in Korea Stock Exchange.The results of this study are summarized as follows；there is a negative(－) relationship between improvement of Corporate Governance and discretionary accruals, as well as our expectation. also, negative(－) relationship between improvement of Audit organization and discretionary accruals as well as our expectation.This result means that The improvement of Corporate Governance does affect the earning management.This study has relationship between The improvement of Corporate Governance and earning management. Further research studies are suggested and encouraged with more refined discretionary accruals measurement methodologies and improvements of Corporate Governance variables.