경영자 특성에 따른 유형자산 재평가 기업의 가치관련성

[Purpose]This study includes the audit intent for assets that have a separate impact on the asset revaluation surplus of the asset revaluation difference result of a company that has revalued its assets based on the asset revaluation model and the value of asset valuation selection information based on the asset size and size considering the asset valuation. [Methodology]To verify this research hypothesis, we analyzed a sample of 230 companies that voluntarily disclosed asset revaluation among listed domestic companies that underwent asset revaluation between 2020 and 2024, and 2,270 companies that did not revaluate assets (company－year). After excluding companies that did not meet the requirements, we selected a final sample of 2,220 companies (company－year). [Findings]Results of this study analysis First, show that the larger the difference in assets (DIF) after asset revaluation, the greater the revaluation surplus per share (DIFF), which means that the disclosure of financial information reported at fair value by companies that have revalued their assets increases corporate value. Second, the larger the company size (CEO－SIZE), which is a characteristic of the manager’s reevaluation intention, the smaller the debt ratio (CEO－LEV), which shows that the information asymmetry of accounting information decreases, thereby increasing the reliability and relevance of accounting information, which means that the usefulness of accounting information increases. This means that the company size (CEO－SIZE) and debt ratio (CEO－LEV), which are characteristics of the manager’s reevaluation intention, are highly related to the usefulness of accounting information. [Implications]As a result of this study, Although there are limitations such as the failure to consider additional variables such as asset revaluation costs and deferred income tax responses to asset revaluation gains of companies that selected the asset revaluation model, the significance lies in presenting evidence that companies that implemented asset revaluation increased corporate value by relatively increasing revaluation surplus per share (DIFF), and at the same time, disclosure of accounting information through asset revaluation can increase the usefulness of accounting information by reducing information asymmetry (FI) and improving the reliability and relevance of accounting information users.