지속가능경영 기업의 회계이익의 질

This study verified the quality of accounting income of sustainability management corporate in terms of accounting conservatism and book－tax difference(BTD). To do this, we used publication of the sustainability report and social responsibility management evaluation index and environmental management evaluation index of Korea Corporate Governance Service(KCGS) as the proxy of sustainability management. We used the measurements of accounting conservatism measured by Feltham and Ohlson (1995) and Givoly and Hayn (2000) respectively. And we used absolute value of book－tax difference(BTD) that was measured by the Park et al.(2006). The sample is 1,633 non－financial companies that were listed on the Korea Stock Exchange from December 2014 to 2017. The results of empirical analysis are as follows. First, sustainability management corporate have higher levels of accounting conservatism than those that do not. Second, the sustainability management corporate showed a smaller difference in book－tax difference(BTD) than those that do not. On the other hand, the additional analysis that verified the level of income smoothing of sustainable management corporate showed that the level of income smoothing was lower than that of non－sustainable management corporate because sustainability management corporate have lower levels of earnings management by discretionary accruals than corporate that do not. Therefore, according to the results of this study, it can be expected that sustainability management corporate have higher quality of accounting income than those that do not. This study examines the quality of accounting income of sustainability management corporate taking into account the aspects of accounting conservatism, book－tax difference(BTD), and income smoothing and is meaningful because it empirically suggests the reliability of accounting information of sustainability management corporate.