미인식된 세무상 이월결손금이 실질이익조정에 미치는 영향：이연법인세 자산 인식기준의 변화를 중심으로

[Purpose]The purpose of this study is to examine the effect of unrecognized Tax NOL(net operating loss) carryforward on real profit adjustment in accordance with changes in recognition standards for deferred tax asset. [Methodology]For the analysis, Roychowdhury (2006)’s real profit adjustment model was used. A total of 286 samples from 2007 to 2014 were analyzed. [Findings]The results are as follows：First, the size of the unrecognized tax carryforward did not have a significant effect on the real Earnings Management. However, there was a significant difference in the results of analyzing the period before and after the change of recognition standard of deferred tax assets. Second, the unrecognized tax NOL carryforward tended to have a significant positive(＋) effect on RM as the recognition criteria for deferred tax assets were eased. [Implications]Through this study, even if the tax loss carryforward is not recognized as deferred tax asset due to low feasibility, it is confirmed through the change of the recognition standards of deferred assets that companies have an opportunity to report over earnings using this. This implies that real earnings management is motivated as the recognition criteria are eased.