경영자능력과 미래이익반응계수

Investors make investment decisions using the firm’s accounting earnings information and use the accounting earnings information reported by managers to predict future earnings. According to previous studies, accounting information that investors should use and interpret varies depending on the superiority of managerial ability. Therefore, We examine how much information about future earnings reported differently according to the superiority of managerial ability is reflected in the change in current stock price. We would like to consider whether this relationship will change depending on the earnings management as a result of management opportunistic behavior, according to the auditor size who are said to control management opportunistic behavior, and finally with the K-IFRS adoption. First, We find that there was no statistical difference in future earnings response coefficient between companies with superior manager ability and those without them. Second, we find that superior manager on FERC of the company with high eanings management is statistically significantly lower than otherwise. Third, superior manager on FERC of the company with BIG4 auditor is statistically higher than otherwise. Finally, superior manager on FERC of the company with K-IFRS adoption is statistically lower than otherwise.