Earnings Management and CEO Turnover in Korean Credit Unions

Sang-Choon Park(박상춘),Wan Suk Ko(고완석),Yong-Sik Hong(홍용식) 한국국제회계학회 2018 국제회계연구 Vol.0 No.79

본 연구는 신용협동조합(신협)이 대손충당금설정액의 재량적 조정에 의하여 이익조정을 행하고 있는가를 실증적으로 검증하였다. 본 연구는 신협의 특유한 측면을 살펴 검증하였다. 먼저, 신용협동조합의 설립기반인 조합원의 특별한 관계, 즉 공동유대(지역․단체․직장)와 관련하여, 본 연구는 공동유대 유형에 따라 이익조정이 달라지는지 살펴보았다. 다음, 신용협동조합의 최고경영진 및 그 임기 횟수는 매 4년마다 조합원 직접선거에 의해 결정되므로, 이러한 선거가 이익조정 유인에 어떤 영향을 미치는지 검증하였다. 본 연구의 연구방법으로 금융회사의 이익조정관련 선행연구에서 많이 쓰이는 개별발생액접근법을 이용하였는데, 경영자의 재량성이 큰 기말대손충당금설정액(대손상각비)을 종속변수로, 비재량적이익을 주요 설명변수로 두고, 대손충당금을 조정하여 이익조정하는지 여부를 검증하였다. 분석을 위한 표본은 2015년 말 정상 영업 중인 지역조합 및 단체조합을 대상으로 2006년부터 2015년까지 10년 동안 7,445개 신협-연도 자료를 이용하였다. 실증분석 결과, 신용협동조합의 경영자들은 재량성이 큰 대손상각비를 이용하여 이익조정을 행하고 있음이 발견되었는데, 이사장은 초임기간(4년) 중 다음 선거를 의식하여 연임 기간(4년)에 비해, 그리고 초임기간 중 마지막 연도는 초임 또는 연임기간의 다른 연도에 비해, 이익조정을 더 크게 하는 것으로 검증되었다. 그리고 지역조합이 단체조합보다 이익조정을 더 활발하게 행하는 것으로 나타났다. 위와 같은 신협 경영자의 이익조정의 증거를 바탕으로, 본 연구는 다음의 시사점을 제공하고 있다. 금융당국은 경영자의 이익조정 재량권을 축소하기 위해 자산건전성 분류기준 및 회수예상가액 산정기준을 보다 명확하고 객관화하여 개선하여야 한다. 아울러 조합의 규모나 공동유대 특성 등을 고려한 차등 감독도 시행할 필요가 있다. This study empirically tests whether and how CEOs of credit unions manage their reported earnings through management of allowance for bad debts (ABD) by examining distinct features of credit unions. With regard to the common ties of their members on which the unions are established, it tests whether credit unions’ earnings management differs by type of establishment ties. Then, because the CEOs of unions and their number of terms of office are determined by the direct election by their members, the study examines how earnings management is affected by the existence of the election. The study uses a specific accruals approach widely used in the literature on earnings management of financial companies. It uses bad debt expense (BDE), a major discretionary item, as the dependent variable and non-discretionary earnings as a primary explanatory variable to test the hypotheses. The sample comprises 7,445 Korean credit union firm-years spanning 2006 to 2015. The empirical results revealed that credit unions manage their reported earnings by using BDE, especially more in the first office term of their CEOs than in the consecutive term, and in the last year of the first term, and that earnings were more actively managed in regional unions than in association ones. This study provides policy implications. Financial supervisory authorities should improve the objectivity and clarity of asset soundness criteria, and provide better and objective estimation methods for expected loan recovery so as to minimize CEOs’ discretion in earnings management. They should also provide differential supervision for credit unions depending on their types of common ties and size.

Drosophila busckii의 韓國集團에서 있어서 同位酵素 多形現象

成耆昌,尙椿植,金彧,金大鎰 성균관대학교 기초과학연구소 1985 論文集 Vol.36 No.1

Genetic structure and variability were investigated in four Korean populations of Drosophila busckii. Eight allozyme loci were analysed by means of starch gel electrophoresis. The proportions of polymorphic loci and loci heterozygous per individual were estimated to be 0.25 and 0.051, respectively. The average genetic similarity between four populations was found to be S―=0.977. This value is similar to the other Drosophila populations reported. However, the gene variation of D. busckii in this study appeared to be the least variable among 28 Drosophila species reported. It is suggested that the low gene variation in D. busckii might be due to adaptation of this species to a narrow niche, but the possibility of occurrence of the random drift cannot be excluded.

一部 美容業 從事者들의 織責別 腰痛 有病率과 關聯要因

김춘일,박종,류소연,김석산,김기순,하상호,변주남 조선대학교 부설 의학연구소 1999 The Medical Journal of Chosun University Vol.24 No.1

To find the prevalence and related factors of low back pain experienced by some beauticians. a survey was made toward 252 beauticians in Kwangju City from March 1st to April 1st, 1998. The results were as follows; 1. The prevalence rate of low back pain among the respondents for the last week was 59.5%. 2. The aid group and staff group with low back Pain had significantly longer duration of work than those without low back pain. Managers who had bad posture with twisted or too much extended back showed a significantly higher prevalence of low back pain than those with good posture during work(P<05). 3. Aid group with low back pain showed significantly higher points at total stress score, depression score, general health score and vitality score than those without low back Pain. The staff group with low back pain showed significantly higher points for total stress score, sleep disorder and anxiety score, depression score, general well-being and vitality score than those without low back pain. Managers with low back Pain showed significantly higher points of stress at social performance and self confidence (P<05) than those without low back pain. The above results suggest that low back pain is related to different jobs and work environments for beauticians. So effective measures and further studies against risk factors must be made considering their jobs. To prevent or reduce low back pain, appropriate management of stress for beauticians is necessary.

企業特性要因에 따른 有效法人稅率 차이에 관한 연구

박춘래,이성호 동아대학교 경영대학 1994 經營硏究 Vol.- No.8

The purpose of this study is to analyse effectiveness of special examption system of tax in tax law, by examining whether the examption system of tax to small & medium-sized companies, export companies, and listed corporation as well as manufacturing has accomplished the purpose of tax policy, and whether regulation of differential taxation in corporation tax have actually influenced the burden of taxation of corporation available for their intention. This study was carried out by using the effecctive corporation tax rate. The sampling subject of this study was limited to Pusan and Kyungnam areas, while the number of sampling subject includes 320 companies which are composed of 160 companies in 1991 and 160 companies in 1992, respectively. The calculated result of the effective corporation tax rate is summarized as follow, based on division of sample companies into four types. Firstly when calculating the effective corporation tax rate after dividing into 5 groups on the basis of their sales, the result showed that the scale of their sales is not proporation to that of the effective corporation tax rate, while it was shown that the tax support system is not effective in 1992 when calculating their effective tax rate in both 1991 and 1991+1992 after division into small & medium sized and large companies. Secondly when calculating it after division in to manufacturing and non-manufacturing business, the result indicated that the effective corporation tax rate if non-manufacturing business is lower than does the manufacturing business, which implies that the special taxation system does not accomplished the purpose of taxation policy. Thirdly when calculating the effective corporation tax after dividing into the listed and unlisted companies, it was shown that the effective corporation tax rate of the listed corporation is lower that do the unlisted corporation, which means that the taxation support system to the listed corporation is effective. Fourthly the effective corporation tax rate calculated on the basis of exports implementation among their particular factors showed that the effective corporation tax rate of the export companies is lower than that of domestic companies, which implies that the taxation support system to export business is effective.

中國 文藝大衆化 論爭(1930-1932)의 展開過程 및 爭點에 대한 論評

林春成 韓國外國語大學校 外國學綜合硏究센터 中國硏究所 1992 中國硏究 Vol.13 No.-

전계발광소자를 위한 강유전체 박막의 제작 및 특성

배승춘,김정환,김호운,박성근,김기완 경북대학교 센서기술연구소 1997 센서技術學術大會論文集 Vol.8 No.1

PLT and PLZT feroelectric thin films were fabricated on ITO substrate by rf magnetron sputtering. Pressure was 30mTorr, rf power was 180W and substrate temperature was varied from room temperature to 500℃. In this case, PLT had the highest dielectric constant of 120 at 500 ℃, oppositly PLZT had the highest dielectric constant of 312 at room temperature. I-V characteristics of PLZT film were shown that leakage current of PLZT film deposited at room temperature was below 3μA at 100V.

전립선암의 20년간 치료 경험

이성준,김천일,김거환 啓明大學校 醫科大學 1994 계명의대학술지 Vol.13 No.4

We reviewed 111 patients with prostatic cancer during a 20 year period from October 1973 to July 1993, retrospectively. The patients age ranged from 55 to 86 years with a mean of 70.6 years. The major presenting symptom were urinary retention(45.9%), prostatism(37.9%),gross hematuria, and bone pain. On digital rectal examination, 20 patients had a hard nodule on the prostate, and 2 patients had multipe nodules. There were stage A in 23 cases, stage B in 15, stage C in 8, and stage D in 65. Among 65 cases of stage D, stage Do and stage D2 were 30 and 31, respectively. Hydronephrotic changes were found on I. V. P. in 13 patients. The site of metastasis in stage D2 patients(31 cases) were bone 29, lung in 2 cases. The combined Gleason score were 2-4(well differentiated) in 15 cases, 5-7(moderately differentiated) in 51 cases, and 8-10(poorly differentiated) in 45 cases. For the treatment of 111 patients, conservative treatment(TUR-P) was performed in 33 patients, radiation therapy in 8 patients, endocrine therapy (orchiectomy or DES) in 70 patients. Fifty nine cases were followed for mean 52.3 months. Five year survival, there was 92% for low combined Gleason(2-4), 78% for intermediated group(5-7), and 45% for high grade(8-10). Six cases with clinical stage A, B were proved to be alive for 10 years. Of the 13 cases with clinical stage D1, D2 11 cases died and their mean survival was 23 months.

삼중요관 제3형 1례

이성준,최호철,류동수,박철희,김거환 啓明大學校 醫科大學 1993 계명의대학술지 Vol.12 No.3

Ureteral triplication is an extremely rare congenital anomaly of the urinary tract, which was first described in 1870 by Wrany. A review of the literature revealed only 92 cases published to date 1992. Herein we report a case of ureteral triplication, type Ⅲ in 54 years old woman. She was admitted to the hospital because of incidentally detected left hydroureteronephrosis on transabdominal ultrasonogram which was performed due to vague epigastric discomfort for 2 years. After radiologic study, under the impression of left incomplete duplicating system with nonfunctioning obstructive megaureter, left nephroureterectomy was performed.

저수온기 돔류의 녹간증 혈청성분

최혜승,박승렬,정춘구 한국어병학회 2002 한국어병학회지 Vol.15 No.1

본 연구는 2001년 3월에서 5월까지 어류 해상가두리 양식장에서 사육하고 있던 찰돔, Pagrus major, 감성돔, Acanthopagrus schlegeli 및 돌돔, Oplegnathus fasciatuas과 육상에서 사육한 강담돔, Oplegnathus punctatus의 혈청성분을 분석하여 월동시기 이후에 돔류의 폐사원인으로 판단되는 녹간증을 나타내는 병어의 혈청생화학성분을 분석하여 생화학적특성을 조사하고자 하였다. 조사한 어류는 양식자의 그물 가장자리에서 균형을 잃고 옆으로 눕거나 뒤집어져 유영하는 개체들을 수집하여 혈액을 체취, 혈청을 분리한 후 생화학분석기(DRI-CAM 3000)으로 Albumin 의 9가지의 혈청성분을 분석한 결과, GOT, GPT값이 정상어에 비해 매우 높아 돔류의 정상적인 간기능에 장애가 생긴 것으로 판단되었다. 또한 Albumin, Ca, Glucose 값에는 뚜렷한 영향을 주지 않았으나 NH_3는 기준값에 비해 다소 높았다. TBIL, TP, UA는 정상어에 비해 매우 낮은 수치였다. 따라서 이러한 돔류에는 겨울철 저수온으로 사료를 정상적으로 먹지 못하여 어체에 영향결핍을 초래하고 있어 저수온 스트레스 등의 생태습성 부적합에 의하여 논간현상이 발생하는 것으로 판단되었다 A blood biochemical analysis was carried out for the serum of wintering sea bream (red sea bream Pagrus major, black sea bream Acanthopagrus schlegeli, rock bream Oplegenathus fasciantuas) with green liver syndrome. GOT and GPT were significantaly elavated in the diseased sea bream. The value of NH_3 was slightly higher but those of TBIL. TP and UA were lower than the control. But there were no differences in albumin. Ca and glucose between the diseased and the control. These results suggent that a green liver syndrome in the sea bream might be related with nutritional defects and the stress of low water temperature during the winter.

獨逸의 콘체른 會計制度 考察 : 商法上의 會計規制를 중심으로

鄭相根,金春玉 聖心女子大學校 産業經營硏究所 1994 産業經營硏究 Vol.- No.1