보고방식에 따른 K－IFRS와 K－GAAP 적용 차이의기업가치 관련성

The purpose of this study is to verify the following subjects for those companies listed on the securities market and the KOSDAQ market in the Korea Exchange：Effects of the difference of the accounting information with the K－IFRS adoption effects reported on the ‘Notes to Financial Statements’ section and the accounting information with the K－IFRS adoption effects reported on an annual report’s ‘Financial Overview’ section on enterprise value. An empirical verification model expanded from the Ohlson’s(1995) equity valuation model was used to verify the study subjects. For the projection of a regression model, those companies listed on, as of December 31, 2011, the securities market and the KOSDAQ market in the Korea Exchange that satisfy sampling standards of this study(as of December 31, 2010) were chosen. The results verified through this study can be summarized as follow：In the securities market, the KOSDAQ market, and integrated sample, the K－IFRS adoption effects reported on an annual report’s ‘Financial Overview’ section better explained the enterprise value correlation than the K－IFRS adoption effects reported on the ‘Notes to Financial Statements’ section. Based on the findings stated above, main implications of this study could be derived as follow ：The empirical evidence supporting the effects of the difference of the accounting information with the K－IFRS adoption effects reported on the ‘Notes to Financial Statements’ section and the accounting information with the K－IFRS adoption effects reported on an annual report’s ‘Financial Overview’ section on enterprise value implies that interests of diverse information users shall be fully accommodated when adopting new accounting standards.