세무상 이월결손금과 이익조정

This study investigates how tax loss carryforwards is associated with Earnings Management. The corporate tax low of Korean has the allowance for tax carryforwards system which can deduct loss from taxable income within the next 5 years when the tax carryforwards is occurred. The sample consists of non-banking firms(4,589 Firm-years)with December fiscal year listed in Korean Stock Exchange over 1999-2008. The data on tax carryforwards, corporate governance variables are collected from the DART of Financial Supervisory Service and other firm-specific data is collected from Kis-Value Ⅲ database. This study used Adjusted Jones(Dechow et al. 1995)' model. The empirical results are summarized as follows. First, this paper find that tax loss carryforwards exists firms more earnings management than other firms. These findings provide that the manager uses the tex loss carryforwards to reduce tax expense. Secondly, The results on the size of money among the company having tax loss carryforward has do not show the significant results. On third, the company having tax loss carryforward has positive results when they faces the carryforward deduction period within 1 to 2 years earnings management. The overall consequence on this study shows the executive positively use it because company with tax loss carryforward reduces the tax or does not take care of tax. This research provides control authorities the political implication that there is company management profit balance inducement using taxation benefit in timing of raising the tax loss carryforward. Besides, it also contributes to financial accounts and taxation accounts on the point of systematical research to look the managing inducement for profit balance concerning with loss carryforward.