금융 소유 지배자본과 금융회계 보수성

In order to establish the more efficient financial industry, Korea has tried to reform the ownership type of the financial industry since the financial crisis of 1997. However the controversy on this reform didn't make a conclusion. This paper analyzes the effects of the ownership type on the tendency of the accounting conservatism of Korean financial institutions. This paper examined the change of accounting conservatism through the shape of distribution in accounting income(price to earnings sacled by last year's end price) and the relationship between the accounting income and economic income(the accumulated stock returns), and the gap between the book value and market value(BTM : Book-to-Market Ratio). For the analysis, this study considers the stock return, the net profit per stock of Korean financial institution during 1993-2005. We can infer that the characteristics of ownership type strongly affected the accounting conservatism of Korean financial institutions. More foreign ownership after the financial crisis, more accounting conservatism in Korean financial institutions showed. The financial institutions dominated by foreign capital are likely to have more conservative characteristics than the others due to the information asymmetry on the domestic market. And We infer foreign capital in financial institutions after the financial crisis contributed to the transparency and stability of financial institutions. And, We did not find the accounting conservatism in the financial institutions dominated by public capital. It means that the overstatement possibility of accounting numbers doesn't exists in the financial institutions of public capital. But It was difficult to find the accounting conservatism in the financial institutions of industrial capital.