한계세율과 과세소득과 관련된 회계선택과의 관계 = The Association Between Marginal Tax Rate and Accounting Choices Considering Book Tax Conformity

다국어 초록 (Multilingual Abstract)

This study investigates the association between marginal tax rate and accounting choices considering taxable income, which are classified as book tax conformity accruals and book only accruals. This research may be important because it provide better understanding of the choices firms make in order to minimize explicit tax cost and implicit non tax cost simultaneously.
To test this issue, we measured book tax conforming accruals that affect current taxable income in the same directions and book only accruals that do not affect current taxable income through statement of tax adjustments. Compared to book tax conformity accruals which may serve to give the tax saving benefits by reducing book and taxable income at a same time, book only accruals are expected to be used in order to save non tax costs such as importance of financial income numbers in financial market.
Main findings supported our expectations. First, we find the negative relation between marginal tax rate and book tax conformity accruals. This result indicates that a firm with higher tax rate prefers to tax savings by using accounting choices lowering taxable income. Second, we find the positive relation between marginal tax rate and book only accruals. This result also indicates that a firm with higher tax rate prefers to accounting choices that facilitate the financial numbers without changes in taxable income.
Our study contributes to the literature by empirically examining the accounting choices that reduce the tax and non tax costs in korean firms using on book system providing financial and tax reporting. From the view point of tax strategy, findings of the present study may also respond to Healy and Wahlen's(1999) call for a better understanding of steps that firms take to manage their earings.

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