IFRS 도입 이후 이익조정방법이 원가의 비대칭성에 미치는 영향

Using the firms listed in Korea Stock Exchange from 2001 to 2019, I examine whether the managers’ opportunistic decision making, after mandatory adoption of International Financial Reporting Standards (IFRS hereafter), have an effect on the asymmetric cost behavior. Asymmetric cost behavior leads to cost stickiness. Cost stickiness is a cost behavior that is incurred if costs decrease to a lesser extent when activity level declines than they increase when activity level rises by an equivalent amount. After an IFRS adoption, the behavior of sticky cost is still found by analyzing total costs including cost of goods sold, selling, general and administrative costs, and non-operating expense. Especially, the behavior of sticky cost is weaker as for selling, general and administrative costs after an IFRS adoption, which shows that the managers tend to decrease the discretionary expense to manage earnings upward. My result shows that after an IFRS adoption, as for the firms suspected earnings management by using discretionary accruals, the degrees of sticky cost become stronger, on the other hand, as for the firms suspected earnings management by using real earnings management, the degrees of sticky cost become weaker. My study shows managers’ opportunistic behavior affects on the stickiness of cost behavior after an IFRS adoption in that managers tend to use real earnings management rather than discretionary accruals after an IFRS adoption.