• Management & Information Systems Review
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• v.34 no.2
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• pp.207-227
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• 2015

This study addresses and examines differences in firm value after tax audits by the Korean Internal Revenue Service. Tax audits can potentially depreciate a firm's value due to the mass cash outflow that often results from the additional tax charges involved. However, tax audits that reveal negative aspects of a business, such as excessive entertainment expenses, fraudulent accounting, or inappropriate business practices, may have positive effects on a firm's value, as the monitoring involved can improve accounting transparency and reduce agency costs. This study shows that there is typically an increase in a firm's value in the year after a tax audit has been conducted, in comparison with the previous year. This result suggests that firm value can increase after a tax audit is conducted, despite the possible value depreciation resulting from a mass cash outflow.

• Korean Business Review
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• v.11
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• pp.295-317
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• 1998

Environmental accounting identifies and measures environmental costs and provides them to interested parties of corporation. The purposes of this study are as follows: First, it investigates the method of measurement and the timing of recognition of environmental costs. Second, it suggests the method of disclosure of environmental costs. In order to accomplish these objectives, this study reviewed relevant literature and studies in advanced countries and Korea. The main results of this study can be summarized into four points: (1) environmental costs are classified into environmental pollution cost and environmental pollution prevention cost, by considering the sources of occurrence of, the functions of and the types of environmental costs. (2) the methods of measurement of environmental costs are various but they almost all subjective and arbitrary. So an accurate measurement of environmental cost is actually difficult. (3) According to the accrual basis, environmental costs are recognized respective to prior period adjustments, expenses or losses of the current period and the assets of the next period. (4) There are 3 methods of disclosure of environmental costs: an extension model of financial statements, a compromise model, and an original model. An extension model financial statements is easy to apply in business practice because it discloses environmental costs by adding accounts into the framework of a traditional accounting system or supplementary reports. This research can contribute to the establishment of accounting standards for environmental costs in Korea.

• The Korean Journal of Financial Studies
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• v.6 no.1
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• pp.193-201
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• 2000

본 연구는 우리 나라에서 최근에 다수의 기업들이 실시하고 있는 주식분할(Stock split)이 투자자들에게 실시기업의 미래의 경영상태를 양호하게 보도록 하는 정보를 시장에 신호하는 도구가 되고 있는지 살펴보았으며, Fama-Fisher-Jensen-Roll의 연구처럼 그 정보가 주식분할기업의 향후 배당가능성을 의미하는지를 조사하였다. 만약 배당 가능성이 주식분할의 동기가 아니라면, 다른 동기가 있는지도 검증해 보았다. 연구결과는 우리 나라 시장에서 주식분할공시가 주가에 영향을 주는 것으로 나타났으며, 그 동기가 주식분할실시기업의 향후 배당가능성은 아니며, 오히려 주식분할을 통해 주가를 적정거래범위내에 거래될 수 있도록 유도하려는 의도가 그 동기가 된 것으로 볼 수 있다.

• Journal of Digital Convergence
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• v.18 no.6
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• pp.237-244
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• 2020

The purpose of this study is to empirically analyze the effect of information related to the largest shareholder's change on the likelihood of reporting a loss for firms listed on the Korea Exchange. Specifically, this study conducts a logit regression analysis to examine the firm's loss reporting with frequent changes in the largest shareholder among the largest shareholder change types. So, it controls the impact of a firm's loss reporting, such as the previous year's loss reporting and discretionary accruals. As a result of the analysis, firms whose largest shareholder have changed more than 2 times in the accounting period are found to have higher firm risk in loss reporting than other firms. The results of this analysis confirm that frequent changes in the largest shareholder, which are disclosures of investment risks on the Korea Exchange, may result in investment risk situations such as loss reporting.

• Journal of the Korea Society of Computer and Information
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• v.12 no.1 s.45
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• pp.219-229
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• 2007

The results of the research in M&A firms in the KOSDAQ market are as follows. First, the effect of the M&A disclosure at the time of disclosure was that the positive (+) cumulative abnormal return (CAR) can be interpreted as an increase in the value of the firm; however, in the long run, firms which used the KOSDAQ index and the control firm, which did not use the index were found to have conflicting results. Second, the findings show that the rise in value of general firms resulting from a M&A were higher that those of venture firms. Third, in testing the performance extrapolation hypothesis, it was shown that the performance of "value" firms (firms with a high B/M ratio but poor performance in the past) was better after a M&A than those of the "glamour" firms and that the performance extrapolation hypothesis was substantiated. Fourth, it can be construed that a size effect in a merger exists. The CAR of the small firms surpasses those of large firms. Fifth, in verifying operating performance, most variables showed a positive (+) value at the time of M&A but showed a negative (-) value after a M&A. These results show that because on the Korean KOSDAQ market, M&A are approached from a financial rather than an economic aspect, it can be inferred that it lowers the firms value.

• Journal of the Korea Convergence Society
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• v.10 no.1
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• pp.227-238
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• 2019

In this study, we investigate the effects of disclosure and high-quality audit on donations to charitable organizations in Korea. We find that the mandatory disclosure of financial information and high-quality audit is significantly and positively related to donations to charitable organizations. We also find that charitable organizations audited by Big 4 audit firms have greater likelihood to receive more donations, compared to those audited by non-Big 4 audit firms. Furthermore, we find that those positive associations are more pronounced for smaller charitable organizations. Collectively, those results imply that, as in the profit-making sector, disclosure and high-quality audit play a critical role in enhancing accountability and transparency of financial reporting and revenue for charitable organizations.

• Journal of Industrial Convergence
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• v.19 no.5
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• pp.35-45
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• 2021

The purpose of this study is to analyze the means of accounting fraud in Chinese listed agricultural companies and to suggest methods for the prevention of accounting fraud and follow-up measures. In this study, 21 Chinese agricultural enterprises were investigated and counted by means of accounting fraud. The means of accounting fraud of listed companies related to agriculture mainly consisted of profit inflation, inflating their net assets, the disclosure of accounting information violations, asset inflation for net asset inflation, and the incomplete disclosure for accounting information violations. Among these, income forgery was the most frequent among the 21 companies surveyed as a means of accounting fraud in profit inflation. Through this study, in the field of auditing academically, it is possible to find the motives of fraudulent acts in Chinese agricultural enterprises and to obtain advice to reduce fraudulent acts, and it will be of great help in theoretical research related to accounting frauds.

• Journal of the Korea Convergence Society
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• v.10 no.11
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• pp.345-352
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• 2019

This paper examines the opportunistic behavior of corporate insiders and analyzes the relationship between equity change and the possibility of delisting. The findings are summarized as follows. First, the larger the stake reduction of insider, the greater the negative excess return after announcement. In the delisting firm group, there is a significant decrease in equity and statistically significant results in the difference test between the comparative groups. The logistic regression analysis showed that the regression coefficient of equity change was negatively statistically significant, indicating a significant correlation between insider share change and the possibility of delisting. These findings are expected not only to provide useful information for investors, but also to be evidence of capital market information asymmetry.

• Venture DIGEST
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• s.96
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• pp.30-31
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• 2006

정부가 회계 투명성 확보를 위한 제도적 장치를 마련한다고 해서 회계 투명성이 저절로 확보되는 것은 아니다. 재무정보의 주체는 기업이고 그 기업에서 가장 중요한 역할을 해야 하는 사람은 바로 경영자이다. 비록 투명한 기업경영과 성실한 공시가 지금 당장 이익 창출은커녕 고통을 가져올 수도 있겠지만 경영자는 이러한 근시안적인 사고에서 탈피하여 장기적인 시각을 가져야할 것이다.

• Proceedings of the Korean Association of Geographic Inforamtion Studies Conference
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• 2004.03a
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• pp.367-372
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• 2004

비교표준지를 이용하여 개별공시지가를 산정하는 우리나라 제도 하에서 가장 중요한 문제는 개별필지 주변의 표준지 중에서 어떤 표준지를 선택ㆍ이용하여 지가를 산정해야 하는가이다. 그러나 지침상에서는 비교표준지 선정시 중요 요인으로 작용하고 있는 유사가격권에 대하여 수치적인 기준이 아닌 모호한 개념상으로 규정하고 있어 비교표준지 선정에 있어 부정확성을 초래하고 있다. 따라서, 본 연구에서는 객관적인 기준과 수치적인 기준의 부재로 많은 문제점을 발생시키고 있는 유사가격권 설정의 문제를 해결하고자 K-평균 군집화 기법을 활용하여 가격권을 설정하고 이에 대한 타당성을 제시하고자 한다.