비부채 감세수단으로써 비조건부 보수주의가 부채정책에 미치는 영향

This study shows how unconditional conservatism in financial income impacts debt financing as a non-debt-tax-shield. First, this study investigates if there is a relation between unconditional conservatism and tax expenses. Second, this study examines the relation between unconditional conservatism and debt financing. The results are as follows. First of all, this study found the negative relations between unconditional conservatism and tax expenses. This result implies that companies’s tax expenses with unconditional conservatism lower. In addition, it is likely that unconditional conservatism appears non debt tax shield. Second, the results show the negative relation between unconditional conservatism and debt financing. It implies that companies with unconditional conservatism are likely to maintain low debt. And it is that companies acknowledge the importance of conservatism on the debt financing. This study contributes to the literature by examining the importance of unconditional conservatism on corporate debt policy. In addition, this study is suggesting that unconditional conservatism has impact on debt financing in the beside tax purpose.