비상장 중소기업의 보수적 회계처리에 관한 실증연구

[Purpose]This study examines the role of accounting conservatism in Non－listed small and medium－sized entities. [Methodology]This study examines the relation between conservatism and tax avoidance. In particular, this study expects that the strength of the relation is depending on the firm’s financing environment such as borrowing ratio. [Findings]Empirical findings are summarized as following. We do not find a significant relation between accounting conservatism and tax avoidance. However, we show that this relation between two variables is depending on the ratio of borrowing. Specifically, we find that there is a positive relation between two variables and this positive relation is weaker for firms with higher borrowing ratio as compared to lower borrowing ratio. These findings are consistent with the results for the previous studies that accounting conservatism can use for managerial private benefit. The results also indicate as borrowing ratio increases, managers are not allowed to use conservatism as a meaning of earnings management. These findings imply that financial institutions effectively monitor the financial reporting behavior of borrowing firms. [Implications]This study suggests that the firm’s financing structure is a factor that alters the conservative accounting practices. And the results documented in this paper provide an important empirical evidence for evaluating the role of conservatism accounting in Non－listed small and medium－sized entities.