178 2 10 8 39-52 (tax planning) [Scholes and Wolfson,1992] (tax cost saving hypothesis) (accounting choice) (economic consequences) (financial reporting costs) (1) (financial reporting cost hypothesis) (earnings management) [Schipper,1989] (discretionary behavior) 1
(2) (3) 34.5% [,1994] (accounting discretion) 2
discretion) (4) [,1994] (tax rules) 1 (5) (real 3
[,1997] [Watts and Zimmerman,1986] (a) (b) (c) (d) (e) (aggressive tax planning) 4
(a) (b) (c) (d) (e) 5
(a) (b) (c) (conformity rule) 6
[Cloyd,1995] (conformity decision) [Cloyd, Pratt and Stock,1996] (a) book/tax difference ; Schedule M-1 of Form 1120 IRS challenge (red flag) [Internal Revenue Service, 1982] defending [Cloyd,1995;Cloyd, Pratt and Stock,1996] (b) [Wolfson,1993] 7
[Watts and Zimmerman,1986] (owner controlled firm) (manager controlled firm) [Watts and Zimmerman,1986] (6) (7) 8
,1994] (8) [ (a) [,1994] [Watts and Zimmerman,1986] (b) (9) [Watts and Zimmerman,1986] 9
[,1994;Sweeney,1994] [,1996 ] [Sweeney,1994] 10
(10) (charity hypothesis) (11) 11
[ ] (1) Scholes, Wilson, and Wolfson[1992] (nontax cost) nontax economic consequences [1998] (2) Holthausen[1990] [1997] (3) (refund by carry-back on net operating losses) (net operating losses carry over) (4) Seholes, Wilson, and Wolfson[1992] transaction timing Klassen[1997] (5) GNP (6) 12
[,1994] Wolfson[1993] Klassen [1997] (inside ownership concentration) (7) Penno and Simon[1986] (8) Dhaliwal, Salamon, and Smith [1982] owner-controlled: OC management-controlled: MC OC Watts and Zimmerman[1986;1990] (9) Price-Earnings Ratio : PER Wolfson[1993] (10) Wolfson[1993] [ p.321] (11) 13
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Schipper, Katharine, "Commentary on Earnings Management," Accounting Horizons, Vol.3, No.4 (December 1989), pp.91-102. Scholes, Myron S., G. Peter Wilson, and Mark. A. Wolfson, " Firms' Responses to Anticipated Reduction in Tax Rates: The Tax Reform Act of 1986, " Journal of Accounting Research, Vol.30 (Supplement 1992), pp.161-185. Scholes, Myron S., and Mark. A. Wolfson, Taxes and Business Strategy: A Planning Approach (Prentice-Hall, 1992). Sweeney, Amy Patricia, " Debt-Covenant Violation and Managers' Accounting Responses," Journal of Accounting and Economics, Vol.17, No.3 (January 1994), pp.281-308. Wolfson, Myron S., " The Effects of Ownership and Control on Tax and Financial Reporting Policy, " Economic Note, Vol.22(1993), pp.318-332. Watts, Ross L., and Jerold L. Zimmerman, Positive Accounting Theory (Prentice-Hall,1985). Watts, Ross L., and Jerold L. Zimmerman, "Positive Accounting Theory: A Ten Year Perspective," The Accounting Review, Vol. 65, No.1 (January 1990), pp.131-156. 15