퇴직급여채무 재측정요소의 가치관련성에 관한 역설

This research focuses on the paradox involving the remeasurement of defined benefit obligations, observed in the other comprehensive income section, and its implications for value relevance. Typically, a paradox refers to unexpected outcomes in seemingly contradictory situations, often contrary to common sense. In this study, it is noted that as comprehensive income from the remeasurement of defined benefit obligations increases, paradoxically, stock prices tend to decrease. This phenomenon is particularly noticeable when net income is low. It is hypothesized that if the reaction to low net income leads to a reduction in debt characterized as provisions, it would be difficult to expect stock prices to rise due to this debt reduction. The study further suggests that the occurrence of comprehensive income from remeasurement is likely when companies are facing deteriorating management conditions, such as low salary increases and reduced incentives for long-term employee retention. Despite the increase in asset values theoretically suggested by the Ohlson model, where value is explained by a weighted sum of earnings and asset value, this study reveals that comprehensive income from remeasurement shows an inverse value relevance. This discovery provides new perspectives for investors and regulators on interpreting and making reporting decisions about other comprehensive income.