사분면별 이익조정과 조세회피의 관계

This study empirically analyzes the relationship between earnings management and tax avoidance by quadrant. Earnings management is measured by both total accruals(TA) and the residuals(DA) of the modified Jones model suggested by Dechow et al.(1995) in which credit sale is added to Jones(1991) model as an explanatory variable of TA. Tax avoidance is measured by both the differences between accounting income and taxable income(BTD) and the residuals(TM) of Han-Soon Park(2014) model in which the tax currently payable is added to Desai and Dharmapala(2006) model containing only TA as an explanatory variable of BTD. The final samples are 7,961 company/year data for the December settlement listed companies and the analysis period is 2011-2018. The empirical results are as follows. For the regression by quadrant, the first and third quadrant sample analyses show positive relationships, and the second and the fourth quadrant sample analyses show negative relationships between both TA and BTD and both DA and TM. As an additional analysis, the regression result by quadrant using the residuals of the Desai and Dharmapala(2006) model is similar to the result using the residuals of the Han-Soon Park(2014) model. This study is valuable in that it gives implications for different relationships between earnings management and tax avoidance by quadrant.