2. 산업특성에 따른 경기변동과 이익조정_코스닥·코넥스 상장 중소기업을 대상으로

As the importance of ethical management increases, such as the increase in transparency of accounting information, it is necessary to check the earnings management behavior of small and medium enterprises of the Manufacturing Business Commission, which has a high proportion of the Korean industry. This study confirms that the impact of economic fluctuations on the earnings management behavior of SMEs and that the effects of economic fluctuations on the level of earnings management differ depending on industry characteristics, and the results of the empirical analysis are as follows. First, we found that during economic downturns, SMEs prefer to adjust profits by accruals. However, we confirmed that there was no difference in earnings management behavior during economic booms. Second, during the recession, there was no difference in earnings management between SMEs in advanced industries and SMEs in non-advanced industries. However, when the economy was booming, there was a significant negative (-) relationship between SMEs in high-tech industries and earnings management through the accrual amount. This is interpreted to mean that SMEs in cutting-edge industries during economic booms adjust profits downward through the amount of accrual in order to avoid taxes. In addition, through additional analysis, it was confirmed that economic fluctuations act as special circumstances for SMEs' earnings management. This study provides empirical evidence of how external environmental factors such as economic fluctuations affect the earnings managements of SMEs, and is expected to provide policy-making bodies with useful information in the process of formulating accounting-related policies. do. It also suggests that it is necessary to develop industry-specific auditors and monitor earnings management measures that utilize industry characteristics in response to economic fluctuations.