세무보고와 재무보고의 상충관계 - 패널자료 분석법에 의한 분석

We studied the effects of managerial reporting incentives on the net deferred tax expenses(NDTE) conditional both on nontax costs and tax costs. The effective tax rates proxy for tax costs(tax reporting incentives). The discretionary accruals estimated by the Jones(1991)'s model are used as proxies for nontax costs(financial reporting incentives). Relationship between the net deferred tax expenses with discretionary accruals and effective tax rates is studied using the panel data analysis in following manner. First, the evidence of individual and time effects is found out by performing Lagrangian multiplier test. Second, the issue of whether or not the firm effects are uncorrelated with the regressors is examined by Hausman specification test. Finally, the influence of discretionary accruals and effective tax rates on the net deferred tax expenses is analyzed with the help of a fixed effect model of the panel data analysis. The results of empirical analysis are as follows. Firstly, We find that high discretionary accruals firms are related with higher net deferred tax expenses. Secondly, managers of firms that bear high marginal tax rates report bigger net deferred tax expenses. Finally, we find the evidence that there is a positive relation between the net deferred tax epenses(NDTE) and interaction term(DACC*ET). These findings conform to the notion that managers consider both tax costs and nontax costs with respect to reporting decisions.