일시적 차이 세부구성항목의 정보효과와 미래 법인세 납부

초록

The first purpose of this paper is to investigate the information contents of BTDs and their components associated with earnings persistence and earnings growth, and second purpose is to investigate whether BTDs provide additional information about future tax payments and explores whether the relation is affected by whether and when BTDs reverse. The findings on information contents of BTDs and their components are as follows. First, we cannot find expected information contents of BTDs and their components associated with earnings persistence. Second, we find expected information contents of BTDs and their components associated with earnings growth, which is different from Raedy et al.(2011)`s result. Overall, these results indicate that BTDs have information contents associated with earnings quality in Korean market. The findings on information contents of BTDs and additional information about future tax payments are as follows. First, BTDs that are included GAAP income prior to taxable income(GAAPFIRST) are associated with future tax payments. In contrast, BTDs that are included GAAP income after taxable income(TAXFIRST) are not associated with future tax payments. Second, when we classify GAAPFIRST items into persist and non-persist items, non-persist items have more positive association with future tax payments than persist items. Third, in case we use individual items, almost the same inferences are found that non-persist items have more positive association with future tax payments than persist items. These results suggest that the time of BTDs` reversal affects tax payments.

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