유통기업 매출액의 기업가치 관련성

• 영문명: The Impact of Sales Revenue on Value Relevance in the Distribution Corporate
• 발행기관: 한국유통과학회
• 저자명: 김진회(Jin-Hoe Kim)
• 간행물 정보: 『유통과학연구(JDS)』제16권 제2호, 1~6쪽, 전체 6쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2018.02.28

영문 초록

Purpose - For distribution corporate, the method of recognizing sales revenue may be different depending on the type of distribution transaction. Until the change in accounting standards for revenue recognition was made in 2002, the distribution corporate recognized the full amount of sales of goods regardless of the type of transaction. However, in accordance with accounting standards for revenue recognition, which began to be applied in 2003, distribution corporate differ in sales revenue recognition by transaction type. The Purpose of this study is to analyze the impact of sales revenue on the corporate value after the change of the revenue recognition accounting standards. Research design, data, and methodology – We selected a comprehensive wholesale and retail corporate listed on Korea Exchange. The research model extends the Ohlson(1995) model and regresses whether sales revenue affecting the corporate value is discriminatory value relevance between the corporate affected by changes in accounting standards for revenue recognition and those not. Results - The results of the analysis are as follows. First, The average value of stock price, net asset per share, and earnings per share are all higher than those before the change of accounting standards for revenue recognition. However, the average value of sales per share is lower than that before the change of accounting standards for revenue recognition. Second, the relationship between corporate value and net asset per share, earnings per share and sales per share, the coefficient of net asset per share, earnings per share and sales per share are all statistically significant positive value. Therefore, in explaining corporate value, besides net asset per share and earnings per share, sales per share provides additional information. And the coefficient of interaction variable between accounting standard change and sales per share is a statistically significant positive value. This result indicating that

목차

1. 서론

2. 선행연구 및 연구가설

3. 연구방법

4. 연구결과

5. 연구결과 토론 및 시사점

키워드

Sales Revenue Direct Purchases Specific Purchases