총포괄손익과 당기순이익의 상대적 기업가치 관련성－연결재무제표를 중심으로－

The purpose of this study is to verify the explanation in evaluating the value relevance of the net income and total comprehensive income stated in the statement of comprehensive income, to verify the additional explanation to other comprehensive income regarding the net income. An empirical verification model expanded from the Ohlson’s(1995) equity valuation model and the Vuong’s(1989) overlapping model were used to verify the study subjects. Also, the additional explanation to other comprehensive income regarding the net income was verified using SPSS by hierarchical regression analysis. For the projection of an actual proof analysis, those companies listed on, as of December 31 of 2011 and December 31 of 2015, the securities market and the KOSDAQ market in the Korea Exchange that satisfy sampling standards of this study were chosen. The results verified through this study can be summarized as follow： ① In case of securities market, it was found that net income in statement of comprehensive income had the additional explanatory power on the total comprehensive income. ② In case of KOSDAQ market, it was found that there was no significant difference between the net income and total comprehensive income announced in the statement of comprehensive income. ③ In securities market, it was found that other comprehensive income had no additional explanatory power on the net income. ④ In KOSDAQ market, it was found that other comprehensive income had additional explanatory power on the net income. However, in the manufacturing industry, it was found that other comprehensive income had no additional explanatory power on the net income.