매출액 크기에 따른 제조기업의 계속사업손익법인세비용(부의법인세비용)과 기업가치간 관련성

The purpose of this study is to assay the effect of continuing operations Income tax expense and firm value on the upper sales group, middle sales group, lower sales group of manufacturing firms. First, I divided the upper and lower groups based on the sales size of the manufacturing companies for nine years. The results of this study are as follows. I investigate the effect of the continuing operations Income tax expense on the corporate value of the upper sales group, the effect of the continuing operations Income tax expense on the corporate value of the middle sales group, the effect of the continuing operations Income tax expense of lower sales group on the corporate value. And the effect of the continuing operations Income tax expense of the low sales group is negative(-) effects on the corporate value to the significance level of 1%. The results show that the effect of the continuing operations Income tax expense on the corporate value of middle sales group is negative at 1% significance level. And the continuing operations Income tax expense of the upper sales group does not have a significant effect on corporate value. These results indicate that the middle sales group and the lower sales group pay continuing operations Income tax expense to reduce corporate value. On the other hand, the upper sales group pays continuing operations Income tax expense so as not to have a significant effect on the corporate value. This study is meaningful in that it examines the necessity of raising the continuing operations Income tax expense on the higher sales group.