Impact on Shareholder Equity and the Earnings Credit Ratings

다국어 초록 (Multilingual Abstract)

n this study, the relation between earnings and shareholder analysis of previous studies (Berle and Means 1932；Jensen and Meckling 1976；Morck et al. 1988；Young Sook Kim and Jae Choon Lee 2000；Gi Seong Park 2002；Beom Jin Park 2007 how to evaluate the impact of large shareholders and earnings between external credit rating agencies in the credit rating is poor corporate governance on the basis of such ventures). Will have to evaluate whether the corporate governance role of credit rating agencies ventures outside with this assessment. Can be divided into three results of this study are as follows： First, it was to affect earnings management of shareholder ownership of the venture. It can be seen that the degree of earnings management in order to achieve the purpose of large companies control the majority shareholder of the shareholder and the nature of the venture business owner and manager of large shareholder.
Second, it was to affect earnings management of the external credit rating agencies credit rating is. In particular, the value of the earnings are not a good credit rating, the more quantity group of upward earnings are generated, adjusted earnings were generated to reduce the profit rather good credit rating is not included in the negative group. It seems to have run the Big Bath for the next group.
Third, did not affect the relationship between earnings management and shareholder ownership credit assessment. This line can have an impact on earnings management of the credit rating agencies for credit rating ventures, but that can not be interpreted to affect the Untied The impact on earnings of the majority shareholder.
The constraints on the generalization of the results, even though the result of the analysis by use only ventures. However, it seems to be used as evidence in policy－making related to good corporate governance in the future ventures.

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