이연법인세회계의 주가관련성에 사외이사제도 및 감사위원회의 특성이 미치는 영향 = The Effect of Board of Director and Audit Committee on Value Relevance of Deferred Tax Accounting

다국어 초록 (Multilingual Abstract)

We examine the effect of deferred tax asset and deferred tax liability on value relevance.
Specifically, we use the characteristics of board of director and audit committee to analysis the relationship between deferred tax accounting and value relevance. We measure the characteristics of board of director and audit committee as independence, speciality, and activity of members.
Additionally we test whether the existence or nonexistence influence the relationship between deferred tax accounting and value relevance.
We find that the independence and speciality of board of director are systematically related to the relationship between deferred tax asset and value relevance. But the activity of board of director do not influence on their relationship. And in case of audit committee, the independence and activity of members have positive relationship with between deferred tax asset and value relevance. Finally, the characteristics of board of director and audit committee are not systematically related to between deferred tax liability and value relevance. We can interpret the results to board of director and audit committee play a role to reduce the phenomenon of price discount.
And also, our findings suggest that the board of director and audit committee play a role to control the discretion of managers. Our findings are consistent with the argument that the board of director and audit committee probably are a means to restrict managers discretion to reduce the agency costs.

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