개별주식선물 상장이 기업의 재무보고 의사결정에 미치는 영향

This paper analyzes the financial reporting decisions of firms whose single stock futures are listed in the derivatives market of the Korea Exchange (KRX). Given that Korean derivatives market volume is growing, it is necessary to investigate how the derivatives market affects the firms' accounting information. We find that firms have higher financial reporting quality and more disclosures after single stocks are listed in future market. Our findings provide contributions to the studies on the financial reporting quality by demonstrating the effect of single stock future on firms’ financial accounting behaviors.