전략적 일탈과 재무제표 비교가능성

[Purpose] We investigate whether the strategic deviance of a firm affects the financial statements comparability. Firms tend to emulate the strategies of other firms within their industry to reduce uncertainty and gain legitimacy. However, when firms adopt different strategies from others in the industry, the degree of strategic deviance may lead to differences in profit attributes and financial reporting practices, thereby reducing the comparability of financial statements. Furthermore, the considerable uncertainty surrounding performance due to major strategic deviance may prompt managers to deliberately obscure objective evaluations of the firm's performance by external stakeholders, thereby reducing the comparability of financial statements. [Methodology] We analysed using firms listed in Korean Stock Exchange (KSE) from 2011 to 2022. The comparability of financial statements was measured by De France et al. (2011), while the degree of strategic deviance was a measure of according to Tang et al. (2011). [Findings] Our results show a negative relationship between strategic deviance and financial statements comparability, suggesting that higher levels of deviance exacerbate information asymmetry among users and hinder rational economic decision making about the firm. Furthermore, this negative relationship is attenuated when auditors are industry specialists. [Implications] The results of this study contribute to the existing literature in two ways. First, the comparability study was expanded by verifying that the characteristics of corporate strategies which affect the overall firm are also determinants of comparability. Second, the findings indicate a necessity for decision maker to consider management strategies as a significant factor influencing comparability, in addition to other variables such as financial data.