‘수주산업 회계 투명성 제고방안’의 의도를 시장은 인지하고 있는가?

[Purpose]This study’s purpose is to verify a discriminatory market response to the order－taking industry’s earnings and non－order－taking industry’s earnings before implementing the plan introduced in 2015. Moreover, to identify the system’s purpose by looking at how the differentiated market responses to accounting earnings of the order－taking industry and non－order－taking industry change after implementing the plan. [Methodology]To verifying the hypothesis, it was observed that the earnings response coefficient(ERC) for the earnings of the order－taking and non－order－taking industries was differentiated. It was also observed whether there was a change in the ERC after implementing the plan. [Findings]According to the analysis, the order－taking industry’s ERC before implementing the plan was smaller than the ERC for the non－order－taking industry sector. However, it was confirmed that the ERC for the order－taking industry’s earnings was more extensive after implementing the plan than before implementing the plan. [Implications]The market is aware of the purpose of implementing the plan and indirectly confirms that this plan’s policy objective to increase the accounting information reliability of the order－taking industry has been achieved.