감사법인특성과 회계정보가치관련성의 관계

이재은,윤재원 한국세무학회 2014 세무와 회계저널 Vol.15 No.2

Recent regulatory changes in accounting and audit practice are attending to audit qualityimprovements and investors’ perceptions thereon, which is now moving to identification of auditquality indicators and their disclosures to assist the investors’ evaluation of audit quality. Traditionalaudit researches and practice literature provide discussions on audit firm characteristics to be usedas possible audit quality indicators. Specifically, Big 4 firm, auditor’s industry expertise, (abnormal)audit hours and audit fees could be included as representative audit quality indicators covered bythe previous literature. Audit firm characteristics are comparable to client characteristics alsocovered by other audit researches (Hermanson et al. 2007;Lawrence et al. 2011, etc.). Morerecently, Hermanson et al. (2007), Kim and Cheon (2010), and Lee (2012), among others, focusedon audit firm characteristics identified by the regulator’s inspection reports or quality control reviewresults. Furthermore, the European Union (EU)(Article 40 of the EU 8th Company DirectiveDirector) has already established a registration to require audit firms auditing public companieslisted in the EU jurisdictions to file and disclose transparency reports to provide the investors withinformation about the audit firm’s quality controls, operation results and various audit qualityinformation. Similar regulations for Korean audit firms are established in 2003 from when Koreanaccounting firms should file annual reports with the Financial Supervisory Service (“FSS”). Subjects underlying all these discussions and development is related to a traditional controversyabout definition of audit quality;recent literature and academic researches are beginning to covervarious aspects of audit quality. e.g. the Advisory Committee on the Auditing Profession(ACAP)(2008), the International Organization of Securities Commission;IOSCO)(2009), Bedardet al. (2010), and Francis(2011) discuss feasibility of such audit quality indicators. They alsopresented various examples of audit quality indicators classified in terms of input vs. outputmeasures or audit firm-level vs. engagement-level indicators. Specifically, the IOSCO illustratedvarious audit quality indicators and the related groupings of categories. With regard to the auditquality indicators, Francis (2011) explained that there is insufficient research to know if this kind of aggregated information can tell us something about audit quality, and said that the IOSCOreport is just a list which are not rigorously investigated. We are to fill this gap. We identify ten audit firm characteristics for the experimental variablesbased on the previous studies (Hermanson et al. 2007;Kim and Cheon 2010;Lee 2012), andinvestigate their relationship with value relevance of earnings focusing on two aspects. First, wesee whether value relevance of audited accounting information are different according to auditfirm characteristics which the previous studies reported they are associated with good (or bad)audit quality. Second, the investors are likely to consider the auditor characteristics more seriouslyin their investment decisions after regulatory changes that the FSS began to attend to thecharacteristics during its review of audit firm’s quality control systems in 2007;we examinewhether such regulatory change has impacts on value relevance of earnings according to the auditfirm characteristics. We used Ohlson (1995) model to investigate the effects of the audit firmcharacteristics on value relevance of audited accounting information. In the model, controlvariables of size, leverage, return on assets, and year, industry and audit firm dummies areincluded in the models to mitigate potential effects of selection bias. Our results generally indicate that investors perceive positively (negatively) incremental valuerelevance of audited earnings information according to audit firm characteristics generally relatedto g... 선행연구(Hermanson et al. 2007;김문철․전영순 2010;이재은 2012)에서는 감사인의 품질관리에 관련된 인적자원관리 특성을 나타내는 감사법인특성이 감사품질과 관련이 있음을 보고하였다. 본 연구는 선행연구에서 조사한 감사법인특성과 감사품질의 관련성에 대한 투자자들의 인식차이를, 순이익 가치관련성의 체계적 차이 유무를 통해서 실증조사한다. 실증조사 결과, 투자자는선행연구에서 양호(불량)한 감사품질과 관련이 있다고 보고한 감사법인특성에 대해서 대체로 긍정적(부정적)으로 인식하는 것으로 나타났다. 또한 감사법인특성을 주목하게 한 금감원 품질관리감리제도의 시행 전․후를 비교한 결과, 감사법인특성들에 따른 순이익 가치관련성은 동 제도의 시행이후 유사한 방향으로 증가 또는 감소하였다. 다만 제도시행 전․후 변동의 유의수준과 항목별로다소 낮게 나타났다. 이는 투자자들도 선행연구에서 보고한 방향(긍정 또는 부정적)과 유사하게 감사법인특성이 감사품질과 양 또는 음의 관계가 있다고 인식함을 나타내며, 제한적이기는 하지만이러한 인식은 회계감독제도의 변화에 따라 더 강화된 측면이 있다.

감사법인특성과 감사시간,감사법인특성 결합효과의 감사품질 관련성

이재은 ( Jae Eun Lee ) 한국회계학회 2012 회계학연구 Vol.37 No.2

감사인의 품질관리감리 결과에 기초한 선행연구(Hermanson et al. 2007; 김문철·전영순 2010)에서는 감사인의 품질관리시스템 구성요소 중 인적자원관리 항목이 양호한 감사품질과 관련이 있음을 보고하였다. 본 연구는 위 선행연구에서 설명한 감사법인특성 및 감사인 소속 전문인력의 전문경력기간의 감사품질 관련성을 실증조사한다. 또한 위 감사법인특성들(감사인조직차원 감사품질지표)과 초과감사시간(개별감사업무차원 감사품질지표)의 결합효과가 갖는 감사품질 관련성도 추가조사한다. 감사품질의 대용치로는 다음 사업연도 재무제표에 전기오류수정손익을 보고했는지 여부를 사용하였다. 연구 결과, 감사법인특성들의 회계오류 관련성은 항목별로 차이가 있었다. 즉, 감사인의 전문성과 인력레버리지 관련 지표는 회계오류 감소와 유의한 관련이 있고, 비감사업무 부담 관련 지표는 회계오류 증가와 유의한 관련이 있었다. 반면에, 감사경험기간과 회계사 1인당 상장회사 수는 회계오류발생과 유의한 관련이 없었지만 초과감사시간과 상호작용효과는 회계오류 감소와 유의한 관련이 있었다. 또한 인력레버리지 비율과 파트너 1인당 비감사보수가 높을 경우에는, 초과감사시간 변수가 유의한 음의 계수 값을 가졌지만 이 변수들과 초과감사시간의 상호작용은 이러한 회계오류 개선정도를 일부 줄이는 것으로 나타났다. 이러한 조사결과는, 선행연구에서 보고한 인적자원관리 관련 감사법인특성들의 감사품질 관련성이 항목 별로 차이가 있으므로, 이들을 감사인의 감사품질지표로 사용하기 위해서는 주요 특성변수 별로 상이한 고려가 필요함 을 나타낸다. 이 결과는 감사품질지표로 단일지표보다는 다양한 지표를 활용하는 것이 필요하다는 선행연구(Bedard et al. 2010)의 주장을 뒷받침하는 것이다. 본 연구의 공헌점은 감사법인특성들이 항목별로 감사품질과 관련성이 상이함을 실증 확인한 것이다. 대표적으로, 선행연구에서 감사인의 인력레버리지 지표인 보조자-파트너 비율이 감사인의 감사품질지표로 활용 가능함과, 감사인 소속 회계사의 전문경력기간이 길더라도 그 자체로는 감사품질 개선효과가 없고 개별감사업무차원의 감사투입노력이 동시에 증가하는 경우에는 감사품질 개선효과가 있음을 확인하였다. Advisory Committee on the Auditing Profession(ACAP)(2008) and International Organization of Securities Commission(IOSCO)(2009) suggested that it is necessary to develop audit quality indicators to be included in the transparency reports of the audit firms. It also presented possible examples of the audit quality indicators classified into input and output measures. Input measures include experience (including industry experience), competency, technical resources, employee workloads, and leverage (such as associate-to-partner ratios and the percentage of senior engagement team member time spent on an audit to the total audit time for all team members). Output measures include revenue information (such as revenues by service line [e.g., audit, tax, consulting, and other], geographic region, and industry), independence violation, disciplinary proceedings and legal matters. Bedard et al.(2010) categorized the audit quality indicators in terms of firm-level versus engagement-level indicators, as well as in terms of inputs and output measures, which are consistent with the quality control standards defined by ISQC 1 (International Standard on Quality Control No. 1)(International Auditing and Assurance Standards Board[IAASB] 2004). They argued that a single audit quality indicator is not a focus, rather they are to require reporting a number of different indicators so that the combination gives a multi-dimensional picture of audit quality. Researches related to audit quality in line with the argument include Hermanson et al.(2007) and Kim and Cheon(2010) which reported that, according to quality control investigations by U. S. Public Company Accounting Oversight Board (PCAOB) and the Financial Supervisory Service (FSS), certain audit firm characteristics related to human capital management could affect the auditors` quality control system, and, accordingly, are significantly associated with their audit quality. The above studies referred to various audit firm characteristics such as the associate-to-partner ratio, the professional staff-to-total employee ratio, and average involvement of partners or professional staffs per public company client. Based on these studies, I empirically tested what audit firm characteristics are significantly associated with the audit quality. Also, I see whether the average length of audit experience by the audit firms` professionals are associated with the audit quality. This is to examine controversy in Korea whether audit quality of large- and small-sized audit firms are different or not; ones argue that large firms have better quality while the others explain that their quality differences are not significant since small firms` professionals have longer experiences in average to compensate for the less organized firm. In addition, I note that the above audit firm characteristics are firm-level indicators as categorized by International Standard on Quality Control No 1.(ISQC 1)(IAASB 2004) and Bedard et al.(2010); I examined the combined effects of the firm-level indicators and (excess) audit hours on audit quality. Audit hour is an engagement-level indicator explained by Bedard et al. (2010) representing input of audit efforts in the engagement level. Prior period adjustments reported in the subsequent year were used as audit quality proxy. Samples are 1,584 firm-years of non-financial public companies listed in the Korea Stock Exchange with fiscal years ending December 31 from 2003 to 2009, which comprise of 503 firm-year of test samples (error firms) and 1,081 firm-year of control samples. I found that various audit firm characteristics are differently associated with audit quality; i.e. their significance and directions (positive or negative relationship) are not consistent. Specifically, variables representing auditor competency (average audit fees per partner) and audit firm`s human capital leverage (the associate-to- partner ratio, the registered CPA-to-partner ratio, and the professional staff-to- total employee ratio) are significantly associated with good audit quality (i.e. lower prior period adjustments reported in the subsequent year). A variable representing auditor workloads (average non-audit fees per professionals) is significantly associated with bad audit quality. The numbers of public company clients per professional staff or partner do not have significant relationship with audit quality. In addition, the combined effects of the audit firm characteristics and excess audit hours are not consistent, either. Specifically, if the average number of listed company clients per professionals are larger, then incremental improvements in audit quality upon more excess audit hours become higher. However, if the audit firm`s human capital leverages are higher, then the combined effects of the characteristics and excess audit hours made their aggregate audit quality improvements smaller. Similarly, if the average non-audit fees per partner is larger, then the combined effects of the characteristics and excess audit hours made their aggregate audit quality improvements smaller, too. These results indicate that various audit firm characteristics, and excess audit hours combined therewith, have different associations with the auditors` audit quality in terms of significance and directions (positive or negative relationship). Meanwhile, average length of audit experience of professionals belong to the auditors didn`t show significant relationship with audit quality, but its combined effect with excess audit hours is significantly associated with good audit quality. This result also has regulatory implication because it negates the argument that small or medium-sized audit firms do not necessarily have worse audit quality because of length of audit experience are longer than those of large audit firms. This study`s contribution is to find that various audit firm characteristics have different association with audit quality in terms of significance and directions. Specifically, I found that associate-to-partner ratio, a proxy for audit firm`s human capital leverage, could be used as an audit quality indicator. Also, average length of audit experiences of the individual professionals who belong to the audit firms, is not associated with audit quality; rather its combined effects with excess audit hours representing the audit efforts in the engagement-levels only showed significant association with good audit quality.

호텔산업 유통 경로상에서 관계의 질에 미치는 영향요인에 관한 연구

정형식(Jung Hyung-Shik),김영심(Kim Young-Shim),최미순(Choi Mi Soon) 조선대학교 지식경영연구원 2004 지역개발연구 Vol.9 No.2

The objectives of this research are to investigate hotel user's service quality and the relationship building factors between travel agency and hotel business companies. Survey were conducted to collect the data with samples of travel agencies and located in Seoul, Pusan. and Gwangju areas. Trained interviewers visited the travel agency offices and asked the respondents to fill out the prepared questionnaires while visiting other offices. 200 usable questionnaires were collected and used for the analyses. LISREL analysis was performed to test the hypotheses. The empirical findings are as follows. First, the relationship characteristics and consumer service quality were found to affect the sources of power significantly. consumer service quality affect source of power than relationship characteristics. It suggest that consumer service qualities were very important to the cognition of sources of power. Second, the relationship characteristics and consumer service quality were not found to affect the relationship quality. It means relationship quality didn't increase the relationship characteristics and consumer service quality in relationship between travel agency and hotel Third, the hotel's sources of power were found to affect negatively the conflict perception and to affect positively the relationship quality the hotel's sources of power such as information and repayment in travel agency was shown to influence conflict on quality of goods, price decision on transaction, conflict on service and communication positively and increase relationship quality with hotel. Fourth, the conflict between travel agency and hotel was shown to decrease relationship quality and was found to relational performance negatively. It provides practical implications for conflict management between the hotel and travel agency. Fifth, relationship quality between travel agency and hotel was found to affect relational performance positively. It would be high on cooperative relationship between travel agency and hotel but continue to continued transaction maintenance such as joint goods development. It seem to explain positive relationship building to higher relationship performance.

Research on Quality Characteristics of Public Open Data

Go-Eun Park,Chang-Jae Kim 보안공학연구지원센터 2016 International Journal of Database Theory and Appli Vol.9 No.7

The object of opening a public data is to make them freely used by public so as to improve quality of civil life and activate new industry and job creation. Opening a public data is a policy that has been importantly emphasized around the world and active policy for public open data is creating successful cases. Public open data needs proper quality to achieve public objects. However, quality management and a lack of standardization cause error data found and a lack of availability, and a lack of guideline about quality. This research figures out quality characteristics necessary for public open data through analysis and verifies establishment of model through survey of professionals. Quality characteristics of public open data verified by survey are publicity, availability, credibility, and suitability. It has its significance for suggestion of quality characteristics necessary for improvement of quality and availability of public open data.

산업별 회계정보의 품질에 대한 실증연구

김성환 ( Sung Hwan Kim ),손성규 ( Sung Kyu Sohn ) 한국회계학회 2011 會計學硏究 Vol.36 No.3

본 연구는 기업이 사업을 영위하고 있는 환경으로서의 산업이 기업의 회계정보 품질을 설명하는 중요한 요인이 될 수 있는가에 대한 질문에 답을 하고자 하였다. 이를 위해 2000년부터 2007년까지 유가증권시장과 코스닥시장에 상장되어 있는 기업들을 대상으로 회계정보 품질 측정치를 활용해 산업별 회계정보 품질 차이를 실증하였다. 실증결과 산업 차원에서 회계정보 품질의 차이가 존재하며 산업 요소가 회계정보 품질 차이에 미치는 영향도 상대적으로 크다는 사실을 확인할 수 있었다. 이를 통해 다른 사회과학분야에서 산업별로 조직형태, 전략수립, 자본구조 등 기업의 특성이 유사해지는 현상이 회계분야에서도 나타나고 있음을 알 수 있다. 그리고 산업별 특성이 존재한다는 재무회계 분야의 통념에 대한 실증적 증거를 제시하였다. 또한 산업별로 회계정보의 질적 속성이 상이하다는 실증적 증거를 통해 산업별전문 감사인의 중요성을 재차 확인할 수 있었다. 본 연구는 경쟁 환경, 기술 환경, 사업의 영위 형태 등 산업 차원의 특성이 기업의 회계품질차이를 초래하고 있음을 실증하였다. 그 결과 경쟁 정도가 높은 산업에서 회계정보 품질이높게 나타났다. 경쟁 정도와 회계정보 품질 간의 인과 관계를 보다 명확히 하기 위해 추가분석을 하였는바, 경쟁 정도가 낮은 독과점 산업에서 규제기관의 주의를 끌지 않기 위해서 수익성이 높을 경우 이익을 하향 조정하는 현상을 확인하였다. 첨단기술 산업의 경우 회계정보 품질이 낮게 나타났다. 그 이유는 첨단기술 산업의 경우 감사인 및 투자자들이 기술과 관련되어 이해와 전망이 어렵기 때문에 경영자의 재량적 판단이 더 많이 개입되었기 때문이라고 생각된다. 사업의 영위 형태와 관련되어서는 수주형 산업에서 회계정보 품질이 낮고, 규제산업에서 회계정보 품질이 높은 것으로 나타났다. 이는 수주형 산업의 경우 진행기준 적용과정에서 경영자의 재량적 판단이 개입될 가능성이 있는 반면, 규제 산업의 경우 요금 산정에 기초가 되는 재무자료가 규제기관으로부터 지속적으로 관찰되어 이익 조정이 상대적으로 힘들기 때문인 것으로 추측된다. 이러한 분석 결과는 국가, 기업 차원에 추가하여 산업 차원에서도 기업의 회계품질에 영향을 미치는 요인을 구체적으로 찾아낸 것으로서, 개별 기업의 회계정보 품질을 추정할 때 산업의 특성까지 종합적으로 고려해야 한다는 시사점을 제시한다. 그리고 산업별 특성을 고려한 회계정보 품질의 제고 방안을 모색할 필요가 있다는 점을 제안한다. 또한 회계정보 품질이 낮은 산업에 대해서 선별적으로 감리를 더욱 강화하고, 보다 엄격한 내부통제 제도를 갖추도록하는 제도적 보완이 필요하다는 것을 의미한다. 산업별 특성을 추가적으로 고려한 감사가 이루어질 수 있도록 감사인의 산업전문성을 제고시키기 위한 제도적 노력 역시 필요하다는 것을 시사한다. The purpose of this study is to provide an answer to whether industry as the business environment is a main factor determining accounting information quality of individual corporations. The sample of this study covers firms having December fiscal year from year 2000 to 2007 listed in either the Korea Stock Exchange or KOSDAQ markets. I investigate whether there are differences in accounting information quality among industries using two metrics of accounting information quality. Empirical results show that there are differences in accounting quality among industries. From these results, I find that corporations in the same industry have similar accounting information quality as shown in the patterns of other social sciences studies. And applying the theory of other social science to financial accounting can enhance the understandings of corporate accounting information disclosure behaviors. These results also provide clear empirical evidence concerning common notions about industrial characteristics. As for the audit research, these results can confirm the importance of industry-specialized auditors. I then endeavor to demonstrate whether there are industrial characteristics that cause differences in accounting information quality of an industry. I classified industrial characteristics into competition environment, technological environment, and types of business operation and examined the effect of industrial characteristics on accounting information quality. The empirical result indicates that accounting quality improves in competitive industry. To investigate more closely the causality between the degree of competition in industry and accounting information quality, the accounting quality in the industry where competition is limited is observed. The firms in the industry which the regulatory bodies perceive as monopolistic or oligopolistic have low accounting quality. When high profitability is reported, a regulatory agency may think it is due to the problem of monopoly, leading to income-decreasing earnings management. I conclude that accounting quality improve as the competition increase, because firms in the industry which regulatory agent perceive as monopolistic manipulate earnings so as to circumvent restrictions of a regulatory agent. As for high-tech industry, accounting quality is low. From these empirical results, I can infer that when the technology researched and developed is cutting edge, manager`s discretionary estimation has more impact on the accounting procedure, and the manager can manage earnings more easily. As for the type of business operation, contracting industry has low accounting quality. Regulated industry has high accounting quality. In contracting industry, the manager`s discretionary estimation(or judgement) can influence the accounting procedure much more. Firms in a regulated industry maintain high accounting quality due to continuous monitoring of a regulatory agency. These results contribute to finding out the main causes that affect accounting information quality at the industry level. And these results provide caution for accounting information users to consider industrial characteristics together in estimating accounting quality of individual companies. This study suggests that regulatory agencies should take steps to improve the accounting information quality by considering industrial characteristics. To be more precise, differentiated plans by industry should be applied to enhance accounting quality for the industries where competition is limited, high-technology is used, and so on. In the year 2011, Korean listed companies should report financial statement in accordance with IFRS (International Financial Reporting Standards). IFRS complies with a principle-based approach, and it does not suggest an industrial accounting standard that classify by type of business. Since Korean companies are accustomed to rule-based accounting standards, they can be confused by adopting the principle-based approach that there are possibilities to imitate the accounting practices of other companies in the same industry. Therefore, this paper lays out a logical basis for establishing industry accounting standards classified by types of business (working-level guideline) that reflects the economic substance of the industry. This paper also raises the necessity of the institutional complements like selective audit review or strict internal accounting control systems for the industries showing low accounting quality. And this study proposes that systemic efforts to enhance the industry expertise of auditors should be made. For example a check list in audit quality review including an audit manual classified by industry, industry expertise training and so on.

중소창호업체의 제공특성, 대인특성, 관계특성이 고객의 만족 및 충성도에 미치는 영향

윤정록 ( Jungrok Yoon ),이희욱 ( Huiuk Yi ),박영봉 ( Yeungbong Park ) 아시아.유럽미래학회 2013 유라시아연구 Vol.10 No.1

오늘날 건축 시장에서 대기업 창호브랜드의 압도적인 마케팅 공세에도 불구하고 중소창호브랜드 업체들이 틈새시장에서 지속 가능한 경영과 성장을 꽤하기 위하여 대기업과는 차별화된 마케팅 전략 즉 관계마케팅을 통하여 시장 공략에 나서고 있다. 즉 중소창호브랜드 업체 자원 여건과 경제 수준에 맞는 마케팅 비용의 지속적인 투자와 함께 고객니즈 충족이라는 목표 달성의 성과에 의한 관계마케팅을 통하여 최소의 비용으로 최대의 마케팅 효과를 얻을 수 있는 경영기술을 창출한다. 이는 중소창호브랜드업체의 강점인 지역 밀착성과 가격 경쟁력을 기초로 하여 고객과의 관계품질을 높임으로써 가능할 것이다. 본 연구는 중소창호브랜드 기업의 고객에 대한 거래조건과 관계품질 즉 제공특성, 대인특성, 관계특성 등의 구성요인들이 소비자들의 만족과 충성도에 미치는 영향에 대하여 분석한다. 즉 중소창호브랜드업체와 고객 간의 관계품질에는 어떤 구성요인들이 존재하며 이들 구성 요인들 간에 어떠한 요인들이 고객의 만족과 충성도에 의미 있는 영향을 미치는지에 대하여 검토해 봄으로서 중소창호브랜드 기업의 고객관계품질에 대하여 검증한다. 고객과 업계의 장기적 교환관계에 기초하는 것이 오늘날 기업에서 가장 중요시 하는 관계마케팅의 핵심이라고 할 수 있다. 관계마케팅에 관한 개념에 대한 연구는 유통 경로와 산업마케팅 등의 영역에서 폭넓게 논의되어 왔으며 소비자 행동과 서비스 마케팅의 영역에서도 많이 연구되어 왔다. 관계품질에 대한연구도 활발히 진행되어, 관계품질을 구성하는 신뢰와 몰입에 대한 논의와 실증 연구 또한 다양한 관점에서 이루어지고 있다. 기업과 고객 간의 성공과 실패, 관계품질, 구전마케팅, 재구매 등에 대한 사례 확인을 위해 다양한 모델들이 제시되고, 소비재 제조기업과 구매고객 및 서비스 기업과 구매고객을 대상으로 한 다양한 방법과 폭넓은 논의와 연구에도 불구하고 오늘날 건축분야의 제품 즉 건축자재(창호제품)업계인 중소창호브랜드 업체와 구매 고객 사이에 존재하는 관계품질에 대한 구성요소에 대한 논의가 부족하다. 또한 이들 관계품질 구성요인들이 구매고객의 만족과 충성도에 어떠한 영향을 미치고 있는가에대한 실증적인 연구는 전무한 실정이다. 본 연구에서는 중소창호브랜드 업체와 구매 고객 중 일회 이상 특정 업체를 구전하거나 재구매를 한 고객들 사이에 존재하는 다양한 특성인 관계품질의 구성요인을 파악하고 이들 특성(관계품질), 즉 제공특성, 대인특성, 관계특성이 고객의 업체에 대한 만족과 충성도에 어떠한 영향을 미치고 있는가에 대하여 검토한다. 이를 검증할 데이터 수집을 위하여 주택가, 쇼핑센터 입구, 7년 이상 된 아파트 단지 입구, 다중이용시설, 관공서, 등의 현지에서 장시간에 걸쳐 설문지를 배포하였다. 중소창호브랜드 기업의 창호 제품을 1회이상 구매한 경험이 있는 소비자들을 대상으로 200부를 무작위로 현장에서 직접 작성하도록 하여 회수하였다. 이 중 미응답과 불성실 답변이라고 판단된 17부를 제외하고 183부를 분석에 사용하였다. 본 연구의 제안모델은 대체로 만족할 수 있는 자료의 적합도를 보여주었다. 중소창호브랜드 업체의 제공특성과 관계특성은 고객의 만족과 충성도에 중요한 영향을 미치는 것으로 나타났다. 결론적으로 중소창호브랜드 업체의 고객에 대한 호의적인 제공특성(가격, 품질, 디자인, 납기, 서비스)은 고객만족과 충성도 형성에 크게 기여하는 것으로 나타났다. 그러나 중소창호브랜드 업체의 대인특성은 고객의 만족이나 충성도에 영향을 미치지 못하는 것으로 나타났다. 따라서 중소창호브랜드 업체의 대인특성은 원인변수 이전의 선행변수의 개념으로 접근하여 연구해 볼 필요성이 있을 것으로 보인다. 또한 중소창호브랜드업체의 관계특성은 고객만족과 충성도에 직접적으로 중요한 영향을 미치는 것으로 나타났다. 본 연구에서는 미래 연구를 위하여 본 연구의 문제와 한계점을 다음과 같이 정리하였다. 먼저 중소창호브랜드 업체의 제공특성을 다섯 가지(가격, 품질, 납기, 디자인, 서비스)항목으로 그리고 경영자의 대인특성을 전문성으로 제한하였다. 그러나 이들 항목이 중소창호브랜드 업체의 고객에 대한 제공특성 모두를 포함하였는지를 다시 한 번 검토할 필요가 있다. 또한 대구지역에 국한된 소비자들을 대상으로 한편의적 표본추출방식의 설문조사에 의한 결과라는 한계점을 지니고 있다. Despite the big Changho-windows-and-doors-system brands conducting aggressive marketing in the construction market, Changho system are making efforts to find a new market through a differentiated marketing strategy, a relationship marketing, from the big brands. For the small-and-medium size manufactures of aluminium windows and doors brand to succeed in the differentiated marketing, management skills that can yield the maximum effect of marketing with minimum expense need to be created, through the relationship marketing by the achievement of the customer satisfaction along with the consistent investment of marketing expense the small-and-medium brands can afford. It can be achieved by enhancing the quality of relations with the customer. This study tests the customer relationship quality of Changho system by examining the factors that constitute the trading conditions and relationship quality of Changho system, that is, the factors of offering characteristics, interpersonal characteristics, and relationship characteristics; and which factors have a significant influence on the customer satisfaction and loyalty. The essence of the relationship marketing is based on the long-lasting exchange relations between the customer and the business. Studies on the concepts of the relationship marketing have been conducted in previous studies such as in distribution channel and industry marketing, customer behavior and service marketing, and relationship quality. Five hypotheses are tested in this study specifically. H1) More favorable offering characteristics of the manufacturer will result in higher customer satisfaction. H2) More favorable interpersonal characteristics of the manufacturer will result in higher customer satisfaction. H3) More favorable relationship characteristics of the manufacturer will result in higher customer satisfaction. H4) More favorable relationship characteristics of the manufacturer will result in higher customer loyalty. H5) More favorable customer satisfaction-toward-the manufacturer will result in higher customer loyalty. The data for the current study were collected from the customers of Changho system who bought at least one time. A total number of 200 customers were surveyed, and 184 responses were analyzed. This study found that the offering characteristics and relationship characteristics of Changho system have a significant influence on the customer satisfaction and loyalty. Especially, the favorable offering characteristics (price, quality, design, date, service) contributed a lot to the customer satisfaction. However, the interpersonal characteristics of Changho system do not have an influence on the customer satisfaction and loyalty, while the relationship characteristics have a direct and important influence on the customer satisfaction and loyalty. The findings of this study suggest that future studies need to confirm that the five categories (price, quality, design, date, service) of the offering characteristics and the relationship characteristics are enough to be analyzed.

코스닥시장에서 감사인 규모선택에 영향을 미치는 피감사기업의 특성 및 감사품질에 관한 연구 -성향점수 대응표본 설계에 의한 재검증

윤재원 ( Jae Won Yoon ) 한국회계학회 2016 회계저널 Vol.25 No.1

감사인의 규모와 감사품질과의 관련성은 학문적으로나 실무적으로 많은 관심을 받아왔으나 그 실증연구결과는 엇갈리고 있다. 이에 본 연구에서는 성향점수 대응표본법에 따라 피감사기업의 특성에 기인한 자기선택편의를 통제한 연구모형을 설계하여 코스닥시장에서 감사인규모와 감사품질관의 관련성을 재검증하였다. 2005년부터 2010년까지 코스닥시장에 상장된 기업을 대상으로 한 실증분석에서, 피감사기업의 총자산, ROA, 부채비율, 외국인지분율 및 신규상장여부가  선택에 유의한 영향을 미치는 것으로 나타났다. 성향점수대응표본에 대한 실증분석에서는, 재량적 발생액의절대값에 유의한 차이가 나타나지 않아 Big4와 NonBig4의 감사품질의 차이가 없는 것으로 해석된다. NonBig4를 소속공인회계사 수 50인 이상 기준으로 중형 NonBig4와 소형NonBig4로 나누어 비교한 추가분석에서도 일관되게 감사품질의 차이가 없는 것으로 나타났다. 또한 Big4를 개별 회계법인별로 나누어 비교한 결과도 동일하여, Big4내 회계법인간의 감사품질의 유의한 차이도 없는 것으로 해석된다. 본 연구의 공헌점은 선행연구의 결과가 엇갈리는 연구주제에 대하여 성향점수대응표본법에 의한 개선된 연구설계를 통해 새로운 실증증거를 제시한 점에 있으며, 자기선택편의를 명시적으로 고려하지 않은 선행연구의 결과가 피감사기업의 특성에 기인될 것일 수 있음을 보인 것이다. 실무적으로는 최소한 코스닥시장에서는 NonBig4 회계법인의 감사품질이Big4와 다르지 않음을 강건하게 입증하였다는 점에서 의의가 있다. 이는 그간 NonBig4감사품질이 객관적인 증거없이 저평가되었을 가능성을 시사하는 것으로, 피감사기업이 감사인 규모를 선택하거나 감독당국이 감독규정 등을 결정할 때에 본 연구의 결과를 유용하게 활용할 수 있을 것이다. 다만, 본 연구의 결과는 코스닥시장에 한정된 것이며, 성향점수대응표본법의 한계에 따라 분석대상에서 제외된 규모가 아주 크거나 작은 피감사기업에 대해서는 일반화할 수 없다는 점을 유의하여야 한다. Many empirical researches studies whether Big4 auditors provide higher level of audit quality. Early researches concluded that the audit quality of Big 4 auditors is generally higher than Non-Big4. Because Big 4 auditors are more independent to their client and have better knowledge and greater reputation to protect. However, recent evidences are not clearly supporting the argument that auditor size is a proxy for audit quality. Also, recent studies concern that the client characteristics of Big 4 and non-Big4 are different and empirical findings of prior researches reflect them not auditor characteristics. Practically, non-Big4 auditor argues that they can provide comparable audit quality, especially in local markets for up to medium size client. Thus this study reexamine the relation between auditor size and its quality in KOSDAQ market. I restrict analyses to KOSDAQ market because it allows relatively greater degree of dispersion in auditor choice between Big 4 and non-Big 4. For the analyses, data are selected from 2005 to 2010. There are 4,049 firm-year observations in the full sample, of which 45.6% and 54.4% reflect Big 4 and non-Big 4 clients, respectively. The descriptive statistics for the full sample indicate that Big 4 and non-Big 4 auditors are significantly different. Big 4 clients are larger, more profitable, less financed, more invested by foreign investor and shows high incidence of IPO. I match the Big 4 and non-Big 4 samples with propensity-score reflected multi-client characteristics. I use propensity-score matching models to control client characteristics between Big 4 and non-Big 4 auditor by estimating the probability of selecting a Big4 with logit model. The results show that the client’s size, ROA, debt ratio, foreign investor ownership and IPO variables are significant in logit model. I impose a caliper distance of 3 percent to match samples and obtain 2,442 firm-years for the propensity score matched sample. Mean difference test shows that Client characteristics are not different between two auditor groups. To examine whether the Big 4 effect can be attributed to specific client characteristics, I perform the regression analyses controlling for an extensive list of client and auditor variables. I measure performance-adjusted discretionary accruals as audit-quality proxy by the modified Jones model(Kothari et al, 2010). The results show that the Big4 auditors provide higher level of audit quality in full sample but superior quality of Big 4 vanishes in matched sample. The results show that the absolute value of discretionary accruals of Big 4 are not significantly different from those of Non-Big 4 in matched sample. I supports the concern that the result of prior research are influenced by client characteristics not auditor’s. The treatment effects of Big 4 auditors are insignificantly different from those of non-Big 4 auditors in our results. For the sensitivity test, I divide Non-Big 4 into middle and small Non-Big 4 groups. Middle Non-Big 4 includes the auditors that employ more that 50 CPAs and the small Non-Big 4 includes other Non-Big 4. There are no differences between Big 4 and middle Non-Big 4 and also between Big 4 and small Non Big 4. In the analysis between the individual Big 4 auditor and Non Big 4, I find consistent results. These results suggest that the findings of prior researchers which is not employing the methodologies correcting the self selection bias in their research design, are largely affected by client characteristics not auditor’s size. Practically, robust evidences that the audit quality of Non Big 4 is not different from that of Big 4, can be used usefully in selecting audit size for clients and in making regulation for the supervisory body. However I caution that these results are limited to KOSDAQ market and must be interpreted with regard to the limitation of propensity score matching model. The finding of this study should not be generalized for the clients excluded in the matching process.

회계법인의 재무적 특성이 감사품질에 미치는 영향

황문호 ( Mun Ho Hwang ),이정엽 ( Jung Youp Lee ),안성희 ( Sunghee Ahn ) 한국회계학회 2015 회계저널 Vol.24 No.4

감사품질이 외부감사인의 적격성과 독립성에 의해 결정될 수 있음을 전제하면, 회계법인의 재무적 특성은 이들 적격성과 독립성에 직 간접적인 영향을 미침으로써 결과적으로 감사품질과도 유의한 영향관계를 맺을 것으로 예상된다. 본 연구는 회계법인의 사업보고서로부터 감사품질과 관련성이 높을 것으로 예상되는 재무적 특성변수를 선별한 후, 이들 특성과 감사품질의 관계를 실증적으로 분석하였다. 구체적으로 본 연구는 회계법인의 생산성, 수익성, 재무건전성, 감사매출비중 등이 감사품질에 미치는 영향을 분석하였다. 본 연구는 국내 121개 회계법인이 2004년부터 2010년까지 수행한 7,203기업-연도의 외부감사업무를 대상으로 분석하였으며, 감사품질의 대용치는 피감사기업의 이익 속성을 나타내는 재량적 발생액과 회계오류 여부를 사용하였다. 실증분석 결과, 재무건전성이 낮은 회계법인일수록 감사품질이 낮은 것으로 나타났으며, 매출액에서 감사업무가 차지하는 비중이 높을수록 전반적인 감사품질이 높은 것으로 나타났다. 또한 등록회계사 1인당 매출액이 많을수록 회계사의 업무부담이 가중되어 피감사기업의 재무제표에 오류가 포함될 가능성이 높은 것으로 나타났다. 감사품질을 결정하는 주요 주체는 외부감사인이라는 점에서 회계법인의 특성과 감사품질의 관계를 밝히는 것은 감사연구에서 매우 중요한 분야이다. 본 연구는 회계법인의 규모나 산업전문성 등에 초점을 맞춰왔던 선행연구를 확장하여 회계법인의 재무적 특성과 감사품질의 관계를 분석하였다는 점에서 차별성이 있다. 아울러 감사품질의 제고를 위해서는 회계법인의 재무상태나 수익구조가 모니터링 될 필요성이 있음을 제기하는 본 연구결과는 회계감독기관이나 자본시장의 이해관계자들에게 유용한 시사점을 제공하는 것으로 판단된다. This paper examines the relation between auditor``s financial characteristics and audit quality. Given that audit quality is jointly determined by auditor competence and independence, auditor's financial characteristics, such as productivity, profitability, financial soundness, and relative importance of audit service, may have an impact on audit quality by directly/indirectly affecting auditor competence and independence. To test the association between auditor``s financial characteristics and audit quality, this paper uses performance matched discretionary accruals(PMDA), and accounting errors(ERROR) as proxies for audit quality. Also we consider productivity, profitability, financial soundness, and relative importance of audit service as a auditor``s financial characteristics. We predict that the higher productivity is, the lower audit quality is.(hypothesis 1) This is based on Choe(2012) reporting that immoderate works of individual CPA cause of low-audit quality. We use the revenue per a CPA as a proxy for productivity. Also, we anticipate that the worse auditor``s profitability and financial soundness are, the lower audit quality is.(hypothesis 2 and 3) Because auditors with poor profitability and financial soundness can tend to discount audit fee for accepting business, this may lead to spend less audit hours than required hours and affect negatively to audit quality. Also they may be exposed to opinion shopping more easily than auditors with good financial soundness. Lastly, we consider the relative importance of audit service. The higher the relative weight of revenue from audit service in audit firm is, the more audit firm may be concerned in audit service in order to prevent the loss of reputation from audit failures.(hypothesis 4) This paper investigates audit quality data of 7,203 firms-years from 2004 to 2010, and the results are as follows. First, the likelihood that errors are included in client firms`` financial statements decreases as auditor's productivity decrease. This means that the immoderate works of individual CPA can induce some mistakes and affect to audit quality negatively. Second, it is observed that the weaker financial soundness of audit firms are, the lower the audit quality is. This implies that auditors with poor financial soundness provide the poor auditing service, because they tend to excessively discount the audit fees and accept business with the purpose of recovering the financial status. Third, audit quality is positively related with relative importance of auditing in auditor``s total revenue. Audit firms with high revenue from audit service are specialized in auditing, so the potential loss from audit failures can be large to them. This result implies that auditors relatively specialized in audit service are more careful of audit quality. Investigating the relation between auditor characteristics and audit quality can be viewed as one of the primary subjects in audit research. Extending the prior studies which mainly focus on the size or the industry expertise as auditor``s characteristics. Our contribution is that we incorporates various financial characteristics of auditors, which are productivity, profitability, financial soundness, and relative importance of audit service. Especially, we find that auditor``s financial soundness and the importance of audit service affect to audit quality. The results that audit firms`` various characteristics should be taken into account for the improvement of audit quality have implications for the supervisory authority for audit firms and market participants.

감사파트너 경험에 따른 감사시간,감사보수 및 감사품질의 차이

배길수 ( Gil S. Bae ),최승욱 ( Seung Uk Choi ),이재은 ( Jae Eun Lee ) 한국회계학회 2014 회계저널 Vol.23 No.6

According to recommendations of the Advisory Committee on the Auditing Profession(ACAP 2008), the PCAOB(2011) released a concept statement, which would consider to require public disclosure of audit partner names. The regulator explains that partner identity disclosure would increase transparency and accountability of the audits, which would eventually improve audit quality(PCAOB 2011). In a sense of transparency, the regulator indicates that partner identity would help the investors and audit committee to evaluate the potential audit partners by enabling them to find the partner’s competence, experience, or disciplinary history. This is in line with the thoughts that individual partner characteristics would have differential effects on audit partner’s behaviors and, ultimately, audit quality. In response to such a new development, academic literature also push down its research focus from audit firm levels and office levels to the individual partner level. Conventional audit firm level studies have examined various audit firm characteristics, such as audit firm size(e.g. DeAngelo 1981; Becker et al. 1998; Krishnan and Schauer 2000), industry specialists(e.g. DeFond et al. 2000; Balsam et al. 2003), audit firm tenure or audit firm rotations(e.g. Lim 2006; Rho 2009), audit firm independence and non-audit services(e.g. Craswell et al. 2002; Myers et al. 2003). They investigate the relations between the audit firm characteristics or the audit firm client characteristics and engagement level audit attributes such as audit quality, audit hours or audit fees. More recent office level studies have examined the effect of office size and office level industry expertise on audit quality(e.g. Ferguson et al. 2003; Francis and Yu 2009; Francis et al. 2013). More nascent individual partner level studies have examined audit partner tenure or partner rotation(Carey and Simnett 2006; Manry et al. 2008; Fargher et al. 2008; Chen et al. 2008; Azizkhani et al. 2013), audit partner’s industry expertise(Chi and Chin 2011; Zerni 2012), auditor independence at the individual partner level(Chen et al. 2010; Ye et al. 2011), fixed effects of audit quality across individual audit partners(Gul et al. 2013; Sundgren and Svanstrom 2014), and effects of potential disclosure of partner identity(Carcello and Li 2013; Abodia et al. 2013; King et al. 2012) on audit quality. They generally find that individual partner characteristics are systematically related to audit quality and other audit attributes. Our study adds to the existing literature by examining the effect of various audit partner’s experiences and auditor behavior on audit results. Specifically, auditor behavior is measured by audit hours, audit fees, and audit fee premium/discounts. Audit quality is measured by restatements and the absolute value of performance-matched discretionary accruals( AbsPMDA). Audit partners’ experience is proxied by (i) the number of public company audits, (ii) the number of career years as professional certified public accountants(CPA), (iii) the number of partner tenure years with the client. In particular, we examine whether the partner experience proxies are related to audit hours, audit fees, audit fee premium/discounts, restatements and AbsPMDA. Our sample consists of 7,167 firm-years from 2006 to 2012 . The results indicate that audit partner experience is systematically related to audit hours, audit fees, and audit quality. First, the number of public company audits is negatively associated with audit hours and audit fee. Audit quality is positively associated with the number of public company clients, although the significance level is generally low. However, the number of prior three year public company audits is not systematically associated with audit hours, audit fee, and audit quality. Second, audit partner career as a CPA is negatively associated with audit hours and audit fees and AbsPMDA. However, we find no systematic relationship between audit partner career and restatements. Third, audit partner tenure has no significant association with audit hours, audit fees, restatements, and AbsPMDA. Audit partner tenure is negatively associated with AbsPMDA at the 0.1 level in the non-Big 4 audit firm subsample, but not in the Big 4 audit firm subsample. However, audit firm tenure is positively associated with audit hours and audit fees. We find that audit firm tenure is positively related to audit fee premiums, but not related to restatements and AbsPMDA. We perform several sensitivity tests. First, converting experimental variables to corresponding dummy variables does not alter the results. Dividing the observations into Big 4 and non-Big 4 subsamples reveals that auditor behavior and audit quality are not constant across these subsamples. More specifically, Big 4 audit firms appear to have a more structured quality control system to mitigate quality differences across individual partners and better utilize partner experience by more effectively transferring their knowledge to less-experienced professionals. Our work has several contributions. First, we extend the existing literature in auditing by extending the scope of the analysis to audit partners. Second, we provide evidence that audit partner experience is systematically related to auditor behavior and audit quality at the engagement level. Third, given the debate on the effect of potential partner identity disclosure in several countries including the U.S. and the EU, our work provides regulatory implications for the potential regulatory changes.

부동산중개의뢰인의 중개사무소선택속성에 관한 연구

서진형(Seo Jin Hyeong) 한국부동산학회 2008 不動産學報 Vol.33 No.-

  1. CONTENTS<BR>  (1) RESEARCH OBJECTIVES<BR>  As competition in the real estate brokerage market is expected to intensify, this study intends to look into the criteria by which a client chooses a real estate agency and to develop a new model for agency selection, in an effort to prepare solutions for an agency to gain an advantage over other competing agencies and differentiate itself from them.<BR>  (2) RESEARCH METHODS<BR>  Difference analysis and One-way ANOVA through the mean and standard deviation of variables<BR>  (3) RESEARCH RESULTS<BR>  Clients tend to choose real estate agencies according to the reliability of representatives, location, efficient handling of requests, the establishment of service warranty, and satisfaction with their service. Clients also take into account the characteristics of representatives, the environmental characteristics of agencies, the quality of service, the relationship between representatives and employees, and the characteristics of agency management as a whole.<BR>  2. RESULTS<BR>  (1) For the characteristics of representatives, clients think the most important factor is their reliability: for the environment characteristics of agencies, location was considered most critical. When it comes to the quality of service, clients value representatives" service attitudes the most. While satisfaction with the service was thought most important in the relationship between representatives and employees, clients perceive a reasonable cost as the most important element in the characteristics of agency management.<BR>  (2) For the difference between the characteristics of agencies that clients choose, the biggest gap was shown in the environmental characteristics of agencies, followed by characteristics of agency management, the quality of service, relationship between representatives and employees, and the characteristics of representatives.<BR>  (3) There was a significant discrepancy by gender in the quality of service whereas there is no distinct difference in the selection of agencies by education level.<BR>  (4) While no different was found in clients" perception of the importance among the characteristics of representatives, those of agency location, and those of agency management, there was a significant gap between the quality of service and the relationship between representatives and employees. No distinct different was seen in the selection of agencies according to transaction types. Although there was no difference in the perception of the importance of representative characteristics, service quality, relationship between representatives and employees, and agency management, when selecting by the number of transactions, a significant discrepancy appeared in the environmental characteristics.