회계이익과 경제적부가가치의 상대적 정보효과

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회계이익 경제적부가가치 상대적 정보효과
Unfortunately traditional accounting information system has revealed many problems in accounting income measurement, so accounting entity has failed to provide useful accounting information necessary for their economic decision related to business enterprise. The problems are discordance between accounting concept and the concepts of economic theory, inconsistency with the accounting concepts in its application, unappropriated matching of revenue and expense and overstates the real profitability of an accounting entity, etc.
As a result, the above problems have caused the failure of rational income determination, understandability of financial accounting reports, check the maintenance of capital and mislead users' economic decision making. This resulted in rejecting the cost of capital in financial reporting, mainly the recognition of equity capital cost. The cost of equity capital have never been reflected in financial accounting processes. To avoid this problems, financial accounting information system should accept the cost of equity capital accounting. So we need the Economic Value Added(EVA) in Accounting and management
This paper has examined the comparative information effects of Economic Value Added(EVA) as an alternative performance measure of business enterprise. For verification, this paper comparatively analyzed the relative information contents of Cash Flows of Operating(CFO), accounting Net Income(NI) Total Accruals(TA) and Economic Value Added(EVA) in explaining Cumulative Abnormal Returns(CAR). To verify the models, we use the simple regression and multiple regression analyses.
The empirical results indicated that net income(NI) as the traditional performance measure has the highest explanation power in explaining the abnormal returns in the capital market. and the next empirical results reveal that cash flows of operating(CFO) has similar information effects. And also economic value added(EVA) has the lowest explanation power in the capital market. It is considered that accounting income is more frequently used than economic value added for their decision making by investors in the capital markets. But the three measures were not significantly different in the explanation of business value.
Alternative Title
An Empirical Study on the Comparative Information Effects of Accounting Income and Economic Value Added
Alternative Author(s)
kang, min ju
조선대학교 교육대학원
교육대학원 상업정보교육
Awarded Date
2008. 8
Table Of Contents
제1장 서론 = 1
제1절 연구 목적 및 방법 = 1
제2절 연구방법 및 범위 = 3
제2장 경제적부가가치의 유용성 및 측정 = 4
제1절 경제적부가가치의 유용성 = 4
1. 경영관리적 정보의 변화과정 = 4
2. 의사결정 정보로서의 경제적부가가치 = 6
3. 경제적부가가치의 측정 = 8
제4절 경제적부가가치의 측정요소의 한계점 = 20
1. 영업용 투자자본의 자의적 결정 = 20
2. 자본비용의 자의성 = 21
3. 세후 순영업이익의 합리성 결여 = 21
제3장 EVA의 선행연구 = 23
제1절 국내연구 = 23
제2절 국외연구 = 25
제4장 실증분석 = 28
제1절 연구의 설계 = 28
1. 가설의 설정 = 28
2. 가설 검증모형의 설계 = 28
제2절 표본선정 = 30
제3절 실증분석 결과 = 32
1. 변수의 정의 = 32
2. 기술통계량 = 33
3. 상관분석 및 평균차이분석 = 33
4. 회귀분석 = 35
제5장 요약 및 결론 = 41
참고문헌 = 43
조선대학교 교육대학원
강민주. (2008). 회계이익과 경제적부가가치의 상대적 정보효과
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Education > Theses(Master)(교육대학원)
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