보험수리적 가정의 재량적 결정

이영란 ( Yeong Ran Yi ),한종수 ( Jong Soo Han ),김상미 ( Sangmi Kim ) 한국회계학회 2016 회계저널 Vol.25 No.4

2011년 한국채택국제회계기준(K-IFRS)의 도입에 따라 퇴직급여에 관한 기준이 변경되었다. 종전의 기업회계기준에 따르면 퇴직급여는 회계기간 말 전직원이 일시에 퇴직한다는 가정 하에 지급해야 할 퇴직금을 퇴직급여부채로 인식하였지만, K-IFRS 하에서의 퇴직급여는 보험수리적 가정을 이용하여 공정가치로 측정하고 인식한다. 그러나 현실적으로 보험수리적 가정의 산출과 적용, 퇴직급여 회계처리의 복잡함 때문에 퇴직급여채무 및 비용이 적정하게 추정되었는지 외부에서 판단하기 어렵다(강선민 2010; Coronado and Sharpe 2003). 특히 퇴직급여의 공정가치 평가에 적용되는 보험수리적 가정 중 기대임금상승률은 경영자의 재량과 판단에 따라 결정되기 때문에 기업의 부채나 이익에 영향을 미치기 위한 목적으로 기회주의적으로 선택되고 이익조정의 수단이 될 가능성에 대한 우려가 제기되고 있다(Rollins 1993; Hsu et al. 2013; Salah and Smaoui 2014; Bergstresser et al. 2006). 그러나 현재까지 K-IFRS에 따라 도입된 확정급여제도에 관한 국내 연구, 특히 보험수리적 가정에 대한 연구는 사례분석 혹은 시뮬레이션 분석(강선민 2010; 김정연과 안일준 2010)이 대부분이다. 실제 공시자료를 이용한 실증연구는 아직까지 이루어지지 않고 있다. 본 연구는 K-IFRS 도입 이후 유가증권시장에 상장된 기업 중 확정급여제도를 운영하는기업의 공시데이터를 이용하여 보험수리적 가정 중 경영자의 재량 및 판단이 포함되는 정도가 높은 기대임금상승률이 기업의 부채비율과 적자회피 여부와 관련을 가지는지 연구하였다. 연구결과, 기대임금상승률은 부채비율 및 적자회피 여부와 유의한 음(-)의 관계를 보였다. 이는 부채비율이 높을수록 부채를 감소시키거나 부채의 증가를 피하기 위해, 그리고 적자회피기업일수록 당기근무원가를 감소시켜 순이익을 증가시키기 위해 재량적으로 기대임금상승률을 감소시키는 것으로 해석된다. 또한, 기대임금상승률의 변동에 따른 확정급여 채무의 민감도가 클수록 부채비율과 기대임금상승률과의 음(-)의 관계를 강화되는 것으로 나타났다. 이 결과는 부채비율을 감소시키기 위해 그리고 순손실 보고를 피하기 위해 경영자가 재량적으로 보험수리적 가정을 결정할 가능성을 보여준다. 본 연구는 K-IFRS 도입 이후 확정급여채무의 보험수리적 가정을 기업 공시 자료를 이용하여 분석함으로써, 기업이 확정급여채무의 공정가치를 산출함에 있어 중요한 가정인 보험수리적 가정을 기회주의적으로 선택하고 있다는 실증적 증거를 발견하였다. 보험수리적 가정을 적용하여 측정된 확정급여채무의 공정가치에 대한 신뢰성 확보를 위하여 보험수리적가정에 대한 구체적인 지침 및 제도적 보완이 필요하다는 측면에서 본 연구의 결과는 관계기관 및 외부감사인에게 시사하는 바가 클 것으로 기대된다. The adoption of Korean International Financial Reporting Standards (K-IFRS) changed the accounting standard on post-employment benefits in 2011. Under K-GAAP, post-employment benefits were calculated based on an assumption that all employees retire at a reporting date. K-IFRS, however, requires to measure post-employment benefits by using the fair value of defined benefit obligations based on actuarial assumptions. K-IFRS defines fair value as “the amount for which an asset could be exchanged, or a liability settled between knowledgeable and willing parties, in an arm’s length transaction.” Prices in active markets should be used as fair value when they are available. In the absence of active markets, however, K-IFRS allows to calculate fair value by using internally generally estimates (i.e., mark-to-model). Such flexibility in K-IFRS could result in misleading information for investors. That is because subjective judgements and estimation errors, which are inherent components of fair value estimation, are difficult for investors to verify and thus, fair value could be vulnerable to managerial manipulation. Corporate management must necessarily make several discretionary actuarial assumptions in calculating the fair value of defined benefit obligations. The problem is that it is difficult for investors or auditors to judge the soundness of the actuarial assumptions because of the complexity of its computation, application and accounting procedures (Kang 2010; Coronado and Sharpe 2003). Therefore, it is possible that management could manipulate the actuarial assumptions to manage debt ratio and/or net income (Rollins 1993; Hsu et al. 2013; Salah and Smaoui 2014; Bergstresser et al. 2006). Furthermore, the Financial Supervisory Service (FSS) found several significant deficiencies in their process of inspecting pension accounting practices in Korea. The FSS reported that among the determinants of actuarial estimates is the discount rate which seems reasonable. However, the FSS found many inadequacies related to the expected salary growth rate (SGR). The discount rate is difficult to be manipulated because there is a specific guidance on it such that the discount rate should be based on the market return of high quality corporate bonds or treasury bonds. However, for SGR, there is no defined guidance and thus, management can choose the SGR under their discretion. The management discretion allowed by the pension accounting under K-IFRS could provide management with latitude for earnings management. Although there have been concerns on the issue that the pension accounting could be used for earnings management, only a few studies have been conducted on defined benefit obligations in Korea, especially on actuarial assumptions. This study examines the relationship between the distress risk of firms and management discretion on actuarial assumptions in pension accounting. This study uses actuarial data, i.e., the SGR, disclosed in the footnote required by K-IFRS 1019. We expect that firms with high distress risk would be more likely to manipulate the actuarial assumption on the SGR. The firms with high distress risk are defined as those that have high liabilities (leverage) and that have earnings near to critical earnings thresholds (avoidance of net loss). Specifically, we expect that the firms with high distress risk would be inclined to lower the SGR to decrease liabilities and to avoid net losses. We also expect that the tendency to lower the SGR would be prominent when the effect of the change in the SGR on pension liability (pension sensitivity) is high. The sample used in this study includes Korean listed firms (excluding firms in the banking and financing industries) over the period from 2011 to 2014. Management discretion on actuarial assumptions is measured by the difference between a firm’s reported SGR and the median value of SGRs in the industry. Our empirical results are summarized as follows. First, consistent with the findings in most of the recent studies, the SGR has a significant negative relationship with leverage and avoidance of net loss. Second, the negative relationship with leverage becomes stronger as the pension sensitivity increases. These evidences show that management manipulates the expected salary growth rate to reduce liabilities and to avoid reporting net losses. Our work contributes to the extant literatures by providing evidence that discretionary management decision has been made on actuarial assumptions of defined benefit obligations. We demonstrate that fair value accounting on post-employment benefits provides managers with latitude for earnings management, which could negatively affects the reliability of accounting information. Our results suggest that regulators and external auditors should develop adequate guidance and devise a system that helps maintain reliability of pension accounting on defined benefit obligations.

친권을 넘어 후견으로

이영란(Yi Yeong Ran) 도서출판여이연 2008 여성이론 Vol.- No.19

공동주택 외부 공간의 유형(類型)에 따른 특성화에 관한 연구

이영란(Yi, Young-Ran),주범(Chu, Beom) 한국실내디자인학회 2013 한국실내디자인학회논문집 Vol.22 No.4

As the modern-day Apartment Complex has varied community facilities such as health care center and self-improvement institutions affecting the residents’ quality of life, this paper is for the in-depth understanding on how such Exterior Space vary and development plan should go. To be specific, this paper is to, based upon the theoretical contemplation on the concept and role of the Exterior Space to Apartment Complex, as well as drawing a conclusion on the development plan for subject areas as assessed. Subject areas of this paper are a total of twelve Apartment Complexes built since Year 2005 in nine different regions in Seoul. As such specialties and features as leisure of the senior citizen and female residents, the subject Apartment Complexes have provided opportunities, active and inactive, to the residents for leisure by qualitative improvement of facilities, as well as establishing the discrete brand value for the Exterior Space with featured design and spatial properties. Also notable is the eco-friendliness of the Exterior Space with cutting-edge technology, eventually appreciating the value of Apartment Complex.

색채 환경을 고려한 서울시 아파트 외관 색채 계획에 관한 연구

이영란(Yi, Young-Ran),주범(Chu, Beom) 한국실내디자인학회 2016 한국실내디자인학회논문집 Vol.25 No.2

Color plan that contains corporate color of Seoul apartment has a great influence on city environment, considering high-rise vertical dispersion and extent. Therefore, it is necessary to view color plan from an integrative viewpoint. Here, this research aimed at deriving guideline factors of esthetic color plan based on city identity, by recognizing the importance of apartment color and color plan characteristic of recently built brand apartments. Exterior color plan characteristic of Seoul brand apartments seen in this research, first, most of dominance colors were in same color similar tone with warm color in bright and warm image, as the psychological function, accessory colors appeared in similar tone of similar color harmonious with the dominance color. Also, accent color was highlighted with its identity through cooperative color. Second, emotional effect diminished size and weight of high-rise apartment. The upper levels showed clear and clean image, middle to lower level showed stability and comfortable image, on the whole, refined and urbane image that aim for natural and modern image. Therefore, apartment color plan requires, first, in respect of dominance color, unity is required proper for urban image by preparing color permission limitation standard. Second, dominance color and accessory color require historicity and differentiation in sociality that urban identity gets. Third, high-rise upper level cooperative color accent color requires compatibility with urban landscape. Lastly, guideline along with rate is required for color, tone, and pattern, etc. by extent contrast. Here, apartment color plan requires consistent research as urban environment color, also, base study should be accelerated as a part of competitive city branding.

국내 임상 의사의 유전성 유방암에 대한 지식도

최경숙(Choi, Kyung Sook),전명희(Jun, Myung-Hee),태영숙(Tae, Young Sook),소양숙(So, Hyang Sook),이우숙(Lee, Woo Sook),허명행(Hur, Myung-Haeng),강미영(Kang, Mi Young),손성이(Son, Song Yi),이미희(Lee, Mi Hi),이영란(Lee, Young Lan),최인 한국간호교육학회 2007 한국간호교육학회지 Vol.13 No.1