적자회피와 특수관계자 거래의 관련성에 관한 연구

초록

In these days, a discussion on the economic liberalism is very popular and sensitive inKorea. In that, the related party transactions is core subject. Especially transferring of a largeamount of work to the related party transactions including subsidiary companies is center ofdiscussion. In this timing, this study performed by using empirical method about that whether relatedparty transactions is used to avoid loss reporting by CEO. For this purpose, earningsmanagement which is assumed to taken by CEO was classified three types in this study. That's are loss avoidance, loss adaptation and surplus reporting. For the robustness of theresults of this study, adjusted Jones model(DA), performance matched discretional accrualmodel(PMDA) and combination of two model was used to calculate three types of earningsmanagement. The results of study are as follows. First, it is confirmed that related party transactionsaffected positive(+) significant influence to loss avoidance with the firm classified as lossavoidance group and loss adaptation group. This result means that related party transactionswas used for the loss avoidance earnings management by CEO. Second, related partytransactions also has statistically positive(+) significant influence to loss avoidance with thefirm classified as loss avoidance group and surplus reporting group. Also this result impliesthat CEO would be take related party transactions for the loss avoidance earningsmanagement. As a result, related party transactions was used for the earnings management to avoid lossreporting by CEO. Therefore actual loss would be convert to income reporting by relatedparty transactions. The results of this study tells to whom interested parties of firms withrelated party transactions have more care to invest them.

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