감사위원회 및 이사회 특성이 회계이익과 과세소득의 차이에 미치는 영향

This study examines the effects of audit committee and board characteristics on book-tax differences, using firm-level tax return data of the Korea stock exchange firms during 2000-2006. In particular, this study investigates the relation between book-tax earnings differences and characteristics such as independence, competence, and level of activities of a firm's audit committee and board. The fact that book-tax differences provide information about the quality of earnings has attracted the attention of policy makers as well. The empirical results of the study are summarized as follows. First, as for the board characteristics, it was found that board activity (outsider board participation) was negatively associated with book-tax difference in a significant manner. Second, as for the audit committee characteristics, it was found that audit committee's independence (defined as an audit committee comprised entirely of outside directors) was negatively associated with book-tax difference to a significant extent. The results in this study imply that audit committee and board characteristics affect book-tax differences. This paper will contribute to accounting and tax research that examines book-tax differences and to several lines of existing research on earnings management as well.