발생액 구성요소가 회계이익과 세무이익의 정보효과에 미치는 영향 = The Impact of Accrual Components on Information Content of Taxable and Book Income

다국어 초록 (Multilingual Abstract)

We explore the information content of taxable and book income affected by accruals management for tax planning and financial reporting purposes. Unlike previous studies, we do not assume that discretionary accruals are only used to manage book income and that taxable income excludes the discretionary components of accruals. Instead, we accept that managements accomplish their tax planning and financial reporting objectives by adjusting components of discretionary accruals; book-tax accruals and book-only accruals. Thus, the level of firms` strategies with regard to tax planning and financial reporting is assessed by estimating the change in book-tax and book-only accruals, respectively. We find that the information content of taxable income decreases when the level of downward management on book-tax accruals is high and that the information content of book income decreases when the level of upward management on book-only accruals is high. Our results support that accruals management for tax planning obscures the informativeness of taxable income and that accruals management for financial reporting purposes distort the quality of book income in Korea, where book-tax conformity is high.

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