COVID-19 기간 중 IFRS 9 적용 효과에 관한 연구

This study investigates the impact of IFRS 9 adoption on the procyclicality of loan loss provisions in Korean banks, particularly during the COVID-19 pandemic. Using panel data from 14 banks across 51 quarters between 2011 and 2023, the analysis employs fixed-effects regression models to examine changes in key financial and macroeconomic variables before and after IFRS 9 implementation. The findings indicate that IFRS 9 has partially mitigated the procyclicality of loan loss provisions. During the early stages of the COVID-19 pandemic in 2020, loan loss provisions were set more counter-cyclically, driven by the Expected Credit Loss (ECL) model of IFRS 9, which encourages more cautious provisioning in uncertain economic environments. Additionally, the analysis shows that the relationship between GDP growth and loan loss provisions became less procyclical during the pandemic, suggesting that banks adopted more cautious and counter-cyclical provisioning practices under IFRS 9. The study concludes that IFRS 9 effectively strengthens the financial resilience of banks in the face of external shocks like the pandemic. However, it also emphasizes the need for continued evaluation of IFRS 9's long-term effects under various economic conditions. Comparisons with other accounting standards, such as those in the U.S., could identify areas for improvement. The results underscore the crucial role of policymakers and regulators in ensuring bank stability during crises. Overall, while IFRS 9 has contributed to reducing procyclicality, further research is needed to refine accounting standards to better address economic uncertainties and to explore the global applicability of these findings.