• 유통과학연구
• /
• 제13권9호
• /
• pp.95-101
• /
• 2015

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 characterized 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 hypotheses 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 capture 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 we do not find significant evidence of conservatism. Second, we investigate panel B from 2009 to 2012. We document an overall decline in the degree of conservatism after the adoption of K-IFRS. We can assume that these results are due to "the temporary adjustment phenomenon." Conclusions - This study finds that conservatism significantly decreased after IFRS adoption. In particular, this study makes the initial effort to elucidate "the temporary adjustment phenomenon" to analyze the effect of K-IFRS on conservative accounting. We argue that K-IFRS are conceptually conservative but that inappropriate application of the conservatism principles is likely to prevent financial reporting from reaching the level of conservatism targeted by the IASB. Overall, this paper contributes to the literature on IFRS and can be useful to capital market supervisors who are monitoring the trends of the firms implementing K-IFRS. Additionally, our results inform stakeholders of the potentially negative effect of the greater flexibility permitted by IFRS and/or lack of appropriate enforcement on key dimensions of accounting quality. This has important implications for Korean regulators and standard setters as they review the cost and benefits of IFRS. Our study also sheds light on the importance of the institutional environment in achieving the targeted objectives for improving financial reporting quality.

• 한국인구학
• /
• 제28권2호
• /
• pp.63-95
• /
• 2005

본 연구는 우리사회에서 불고 있는 조기유학 열풍에 대한 것으로 1990년대 중반 이후 조기 유학의 현황과 추이를 살펴보고, 이에 대한 선행연구들을 검토한 후 호주 한인 학생의 적응을 교민과 홀로 있는 조기유학생, 기러기가족의 경우 부모가 유학 또는 직장 파견으로 함께 가 있는 경우 등 네 집단의 한인 학생들의 학교생활 및 사회심리적 적응을 분석한 것이다. 본 연구는 2002년 6월과 7월 사이에 시드니 주정부 토요학교에 재학 중인 한국인 학생들과 시드니 성당 중고등부 학생에 대한 설문조사 자료를 분석하였다. 이 밖에도 토요학교 등에서 한국어를 가르치는 한국인 교사 31명에 대한 면담자료와 호주 시드니 지역의 이러한 학생들과 학부모를 관찰 및 면담한 자료도 배경자료로 활용하였다. 본 연구의 주요 발견은 학업, 학교활동 및 학업에 대한 열정, 외국인 친구 사귀기, 호주생활 전반적인 만족도 등에 있어서 유학생이 교민자녀 보다 적응정도가 낮은 편이며, 특히 홀로 있는 유학생의 적응도가 가장 낮다는 점이다. 이들을 가르치고 있는 한국인 선생님들도 어머니와 함께 또는 양부모와 함께 와 있는 경우보다 홀로와 있는 유학생의 경우에 실패율이 높다고 지적하고 있다.