법인세유연화에 대한 문헌연구 = Literature Review on Tax Smoothing

다국어 초록 (Multilingual Abstract)

The Tax Smoothing Hypothesis is studied only in Korea. Proponents of the tax smoothing hypothesis argue that Korean companies file higher tax returns than their actual taxes due to tax audits by the Korean tax authorities. The purpose of this paper is to review previous tax smoothing papers in order to examine whether they are based on economic logic and methodology.
Previous tax smoothing papers in Korea have the following in common: (1)) They analyze the preparation items (called `Jun-bi-kum') in the statement of retained earnings. (2) They use the coefficient variation or other tax smoothing measures to detect tax smoothing behaviors. (3) They use tax amounts in income statements rather than actual tax amounts, which are usually different from tax amounts reported in income statements.
Tax smoothing behaviors consist of positive tax smoothing and negative tax smoothing behaviors. Positive tax smoothing indicates paying higher taxes than actual taxes, whereas negative tax smoothing means paying lower taxes than actual taxes., Between the two tax smoothing behaviors, negative tax smoothing (i.e., tax reduction) behavior makes more economic sense. Although previous tax smoothing papers find indirect evidence on tax smoothing, they do not differentiate positive tax smoothing from negative tax smoothing. I expect that future tax smoothing studies will better explain tax smoothing behaviors by developing methods that differentiate one behavior from the other. Also I hope that future studies will make a better link between income management and tax smoothing.

목차 (Table of Contents)

• Ⅰ. 서 론
• Ⅱ. 법인세유연화 선행연구
• Ⅲ. 결 론