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SCOPUS 학술저널

The Impact of K-IFRS Adoption on Accounting Conservatism: Focus on Distribution Companies

한국채택국제회계기준(K-IFRS)의 도입이 보수주의에 미치는 영향: 유통기업들을 중심으로(초기 일시적 적응 현상)

Purpose – This study provides evidence of the impact of the mandatory adoption of Korean equivalents to International Financial Reporting Standards (K-IFRS) on accounting quality. K-IFRS uses fair value as a basis of measurement and is char-acterized by principle-based standards. These characteristics can lead to a decrease in conservatism. Therefore, this study aims to examine whether or not there is a change in the level of conservatism before and after the enforcement of K-IFRS (2007~2014). By comparing 2007 through 2008 and 2013 through 2014 (excluding 2009 to 2012), we test“the temporary adjustment phenomenon”and document an overall decline in the degree of conservatism after the adoption of K-IFRS. Research design, data, and methodology – Our sample is comprised of data of all listed Korea Composite Stock Price Index (KOSPI) manufacturing distribution companies in Korea from 2007 to 2014, which yields the pooled sample of 4,412 (panel A) and 1,915 (panel B) firm-year observations for hypoth-eses 1 and 2. In line with recent literature, we adopt the Givoly and Hayn (2000) model, which recomputes the non-operating accruals, excluding two components that are most likely to cap-ture the effect of restructuring activities: special items and gains or losses from discontinued operations. In addition, we also use these variables: SIZE, LEV, INV_CYCLE, ROA, OWN, and FOR. Results – Our sample period spans 2007 to 2014. This offers evidence on the effect of the mandatory adoption of IFRS on conservatism. Our findings can be summarized as follows. First, in panel A, for mandatory K-IFRS adoption (2011), we do not find any significant evidence of conservatism. We can guess that the“temporary adjustment phenomenon”is the reason that Purpose – This study provides evidence of the impact of the mandatory adoption of Korean equivalents to International Financial Reporting Standards (K-IFRS) on accounting quality. K-IFRS uses fair value as a basis

1. 서론

2. 선행연구 및 가설설정

3. 연구방법

4. 실증분석 결과

5. 결론 및 시사점

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