경영자 종업원 간 보상비율과 이익 비교가능성과의 관계

[Purpose] This study investigates the relationship between pay disparity of managersemployees and earnings’ comparability. In particular, the relationship is investigated under various situations, such as the relative salaries of managers and whether to report of loss or non－loss (profit). [Methodology] This study empirically analyzed the relationship between pay disparity of managers－employees and earnings’ comparability (De Franco et al. 2011), using 9,692 firm －years of listed companies, from 2003 to 2017. In this process, various situations such as the relative compensation level of managers and employees and firm’s performance are considered. [Findings] As results, there are significantly positive relationships between pay disparity of managers－employees and earnings’ comparability. In addition, relatively high level managers’ compensation shows the incremental effect of lowering the comparability of earnings, while the relatively lower level of managerial compensation shows the incremental effect of increasing the comparability of earnings. This was partially maintained if the sample was classified as firm’s performance (ROA). [Implications] These results suggest at least the possibility of using earnings’ comparability appropriately according to pay disparity of managers－employees.