조세혜택이 기업분류의 변화와 실질이익조정에 미치는 영향

[Purpose]This study analyzes the effect of changes in various corporate types on real earnings management, and examines how changes in corporate types affect real earnings management according to the degree of tax benefits for corporate upward growth. [Methodology]This study conducted multiple regression analysis on KOSPI and KOSDAQ listed companies and external audited corporations from 2011 to 2019. [Findings]When a company grows upward, the company makes a real profit adjustment to return to its original corporate form, showing the so－called Peter Pan syndrome. In particular, it was confirmed that upward earnings adjustments were made until the grace period in accordance with the Restriction of Special Taxation Act for companies receiving a lot of tax benefits. In addition, additional analysis was performed from 1 year to 3 years before the upgrade, and showed very significant negative values from t－1 to t－3 before the upward classification. This is judged to be due to the influence of the Framework Act on Small and Medium Enterprises, which uses the three－year average as the upward classification criteria. [Implications]In case the corporate classification needs to be changed upwards as a medium－sized company or a large company, the company wants to maintain the current status.