국제회계기준 도입 전후 추정액과 이익조정의 관련성 변화

The global adoption of the IFRS is under way to enhance the comparability and transparency of accounting information. Since Korea's mandatory adoption of IFRS, much academic attention among Korean researchers has focused on the effects of the IFRS adoption on accounting. However, little research has been conducted on the effects of IFRS adoption on the firms with different firm characteristics. This study analyzes the relationship between the IFRS adoption and earnings management by firm characteristic. Firm characteristics of interest in this study include, and are not limited to, changes in PPE depreciation and bad debt. The results show that the over all magnitude of earnings management has been reduced since the adoption of the IFRS, but it varies with firm characteristics. Also, this study finds that the practices of real earnings management (REM) have been more frequent under the IFRS regime. It is widely known that REM is harder to detect than discretionary accruals are. The findings indicate that under the IFRS regime, investors should pay more attention to the firms' earnings management practices, especially with respect to firm characteristics. Additionally, accounting standard setters will be able to maximize the positive effects of the IFRS adoption by considering firm characteristics when making revisions to the accounting rules and regulations in the future.