회계이익과 과세소득 간의 차이를 이용한 이익조정 분석

This study will identify the predominant approaches used by most top managers according to their motivations of earnings management to avoid earning decline. We collected data from the financial statements and accountant's reports of listed enterprises between 2004 and 2006. Financial statements were available in the KIS－VALUE database of Korea Information Service Inc., while the data associated with tax adjustment were acquired from the details of deferred income taxes stated in the comments of accountant's reports. The results of the study are as follows： First, on whether the temporary book－tax differences and the changes in net deferred tax liabilities can be additionally useful to discretionary accruals, we found that the temporary book－tax differences were additionally useful to discretionary accruals as a measure for the earnings management to avoid earning decline. Second, to find out which factors are applied to the earnings management, correlation analysis, one－way ANOVA analysis, etc. have been used for 6 different components of temporary differences. We found that equity method investments have generally been used for the earnings management to avoid earning decline. However, in the logistic regression analysis, equity method investments are used also for the earnings management to avoid earning decline. In conclusion, through simultaneous analysis on the earnings management for avoiding earning decline, we found that the method to use the temporary book－tax differences and the changes in net deferred tax liabilities could be different in the usefulness depending on the motivation of earnings management and on the components to use for earnings management. It is also meaningful that we can extend the scope of existing studies by learning that each method depends on the motivation for the earnings management to pursue.