숙박업 기업의 이익조정에 관한 연구

This paper aims to study earnings management in lodging companies for those subject to external audit. Because of the nature of lodging companies, it is not easy to manage earnings using depreciation or sales. Also, there are not many other means of earnings management for lodging companies since they have fewer accounts receivable or inventories than manufacturing companies do. Thus, it is expected that lodging companies will make less earnings management than manufacturing companies. As the incentive for earnings management is likely to be different depending on the financial condition and business performance among lodging companies, it is also expected that lodging companies with high debt ratio and the net loss do more earnings management. The contributions of this paper are as follows: First, it analyzed earnings management behavior of lodging companies which have not been researched at all. Second, this paper drew the meaningful result from the analysis based on that incentive of earnings management varies in different financial condition and business performance among lodging companies. Third, earnings management behavior can vary depending on economic situation of lodging companies, therefore, it can be useful information for decision making by stakeholders such as supervisory authorities, external auditors, financial institutions, and suppliers.