회계이익부호의 전환이 코스닥 기업 회계정보의 기업가치 관련성에 미치는 영향에 관한 연구

This study examines whether the value relevance of accounting information of KOSDAQ firms is affected by the reversal of reported earnings signs. The reversal information will be very sensitive to investors since such information may create additional increases or decreases in investors' benefits. The empirical results of this study reveal that the reversal of reported earnings signs affects the value relevance of accounting information. That is, the reversal information affects the value relevance of accounting information over the sign of earnings and the magnitude of earnings. This study provides some empirical evidences on the earnings revresal information, which may be very useful to investors in practice. It could provide a basis to understand behaviors of investors, who are very sensitive to the earnings revresal information.