이익관리와 법인세평준화 동인의 세금관리가 회계이익과 과세소득 차이에 미치는 영향

This study investigates the influence of corporate income tax smoothing and earnings and tax management on Korean firm's Book-Tax Income Differences in the context suggested by the effective tax planning hypothesis. This study uses three measures of taxable income (the income of each business year, tax base income and estimated taxable income) calculating dependant variables (firm's Book-Tax Income Differences) to confirm what the results are depending on three taxable income proxies. The expected income tax variance (TAXVAR) is used as a proxy for tax cost to reflect corporate tax smoothing hypothesis, and discretionary accruals (DA) is used as a proxy for nontax cost (or at least nontax and tax cost reflected no tax smoothing hypothesis). This study conducts using firm-level tax return data of 1,011 firms listed on the Korea Stock Exchange during 2000-2002. The empirical results of this study are summarized as follows. First, the results indicate that there exists a significant positive relationship between BTD and TAXVAR, between BTD and DA. However, there is no significant positive relationship between TAXVAR and BTD1 measured by the income of each business year. Second, Adj R² of model that used dependant variable (BTD3) measured by estimated taxable income is much higher than those of models that used dependant variables measured by the income of each business year and tax base income. In summary, this study shows that managers of listed firms consider nontax costs as well as tax costs in the decision making related to earnings and tax management. These results also imply manager's earnings and tax managements have been observed easily in using a taxable income proxy reflects much informations.