기업지배구조가 관계회사거래와 이익조정의 관계에 미치는 영향: 이사회와 감사위원회를 중심으로

This study aims to investigate the relationship between the earnings management in the transactions with the affiliated companies and the governance structure, whether the governance structure, which plays a role of monitoring function in earnings management of general transactions, carries out the same monitoring function in earnings management of the transactions with the affiliated companies. For the analysis, the total amount of sales, purchases, revenues and expenses of the affiliated companies was used for the company, and the earnings management was carried out using the absolute value of discretionary accruals. In terms of governance structure, the independence and expertise of the board and Audit Committee are used. As a result of the empirical analysis, the relationship between the related party transaction and earnings management shows a positive (＋) relationship, and the independence of the board and the audit committee statistically significantly alleviated that relationship. On the other hand, the expertise of the board and the audit committee did not find a significant effect on that relationship. The above results show that the governance structure has a policy effect that can engage in the transaction of affiliated companies.