CEO 임금 비중(CPS)과 경영투명성 ：회계이익－과세소득 차이 정보를 활용하여

The objective of this study is to examine the effect of CEO power on transparency of business administration. To do this, we used CEO Pay Slice(CPS) measurement as the proxy of CEO power. And we used Earning Management(EM) as the proxy of transparency of business administration. Book－Tax Difference(BTD) is used the proxy of Earning Management(EM) and is measured by deferred corporate taxes. The samples of this study selected from listed corporate, consist of 1,320 observations can be collected from 2013 to 2017. The verification result of this study can be summerized in the following. The CEO Pay Slice(CPS) measurement has a significant positive relevance on Book－Tax Difference(BTD) is the proxy of Earning Management(EM). This result supported by additional analysis that used another Book－Tax Difference(BTD) measurements. This means that corporate that has a higher CEO Pay Slice(CPS) has a higher the level of Earning Management(EM). So we can expect that the more CEO has a absolute power the less corporate has the transparency of business administration. This study has a limitation of CEO Pay Slice(CPS) measurement because we can just acquire the information of Registration of officers’ pay. But we hope that our study can be the steppingstone of CEO Pay Slice(CPS) research.