회계보수주의와 회계이익-과세소득 차이의 상호작용이 이익지속성에 미치는 효과

This study investigates empirically how the interaction between conservatism in accounting and book-tax differences(below BTD) has an effect on the earnings persistence. First, we investigate the associations between conservatism and earnings persistence, and between BTD and earnings persistence respectively. Then, we investigate how the interaction between conservatism in accounting and LNBTD(Large Negative BTD) has an effect on the earnings persistence. Earnings persistence is generally defined as the revisions in expectation of future earnings induced by current-period earnings. Whether earning persistence measures are related to conservatism and BTD or not is material for the users of accounting information, especially for analysts and investors. The our empirical results can be summarized as follows : First, we reconfirm that conservatism in accounting and large BTD reduce earnings persistence. Second, earnings persistence improved relatively in case of non-conservative in accounting and small BTD. Finally, the interaction between conservatism in accounting and LNBTD affects the earnings persistence downward. This study extends the prior studies including Won-Sun Baek(2004) and Jong-Kwon Ko(2006) in dimension, and furthermore investigates the effect of interaction between the conservatism in accounting and BTD on the earnings persistence. This study have some limits; firstly, measures earning persistence based on Sloan(1996)'s model, not based on the time series data. In addition, this is the first study about the interaction between conservatism in accounting and BTD on the earnings persistence, therefore additional studies would be needed in near future.