기업지배구조가 회계이익-과세소득 차이와 이익 지속성의 관계에 미치는 영향

This study was performed based on the prediction that the increase of Book-Tax Difference(BTD) resulted in the decrease of earnings quality-earnings persistence- when the corporate governance was vulnerable. In other words, the corporate governance environment can effect the fairness of accounting information being documented and disclosured by manager. Therefore, the influence of BTD on the earnings persistence was empirically analyzed, according to the corporate governance. BTD is the difference between gross income before tax and taxable income. Taxable income can be defined as the taxes on income divided by the tax rate. I used the corporate governance score of Corporate Governance Service. Earnings before tax(EBTt) has a significant influence on EBT(t+1). While the persistence of accrual is lower than that of the cash flow according to Sloan(1996), if a good governance firm has a high BTD, the persistence of accrual is low. If a vulnerable governance firm has high BTD, the persistence of cash flow is low. Investors can use the information on the effect of earning persistence by corporate governance when they evaluate the investments.