The Effect of Tax Avoidance by Analysts Forecast Accuracy on Cost of Debts

• 발행기관: 위기관리 이론과 실천
• 저자명: Jang Hee Lee Seoung Hoi Kim
• 간행물 정보: 『위기관리 이론과 실천 세미나발표논문집』2018년 위기관리 이론과 실천 세미나발표논문집, 456~468쪽, 전체 13쪽
• 주제분류: 사회과학 > 행정학
• 파일형태: PDF
• 발행일자: 2017.12.30

국문 초록

This research analyzes that bond investors of the company recognize tax avoidance correctly according to profit forecast accuracy by financial analysts to solve information asymmetry by providing useful information between companies and investors. In particular, regarding tax avoidance by profit forecast accuracy by financial analysts who solve information asymmetry by providing useful information between companies and investors due to the differentiation between this study and precedent study, whether creditors recognize it correctly and it is reflected well in load decision making was analyzed. As profit forecast accuracy by financial analysts gets higher and reliability for the accounting information of relevant companies gets increased, rate of return for investors gets lower and lower to cause low cost of borrowing capital. As profit forecast accuracy by financial analysts gets lower, reliability gets lower on accounting information of relevant companies to increase rate of return for investors and cause high cost of capital. Correct accounting information for financial analysts is being applied and used as a critical factor for investment decision making, which is resulted.

목차

Ⅰ. Introduction

Ⅱ. Previous Research

Ⅲ. Research Hypothesis and Model

Ⅳ. Sample and Empirical Results

Ⅴ. Conclusion

키워드

Tax avoidance Analysts Forecast Accuracy Cost of debt