이연법인세비용이 기업가치에 미치는 영향에 관한 연구

This paper investigates the effects of introduction of deferred tax on value relevance This paper studies the effects of deferred tax components on value relevance and earnings management through deferred tax accounting. This empirical study analyzes effects on value relevance of deferred tax in Korean listed companies during the period of 2000 - 2010 by extending the Ohlson's residual income model. The major findings from the model are as follows: First, there is a significant positive relation between the introduction of deferred tax accounting and firm value and the driver of the relevance of firm value is derived from DTA(Deferred Tax Asset). But, DTL(Deferred Tax Liability) is not significant. Second, the relation between DA(Deferred Accounting) and DTA(or DTL) is significantly presented. That is, there is a significant negative relation between DA and DTA. And there is a significant positive relation between DA and DTL. Therefore, our results show that deferred tax accounting raises the value relevance through the development of the qualitative attributes of accounting information by improving the usefulness of accounting information. Also, this study shows that introduction of deferred tax accounting is necessary in the development of accounting regimes.