2012 Fiscal Year Final Research Report
The empirical study on the value relevance of tax information in Japanese stock market
| Project/Area Number |
23730426
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Accounting
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| Research Institution | Tohoku University |
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Principal Investigator |
KOMETANI Kenji 東北大学, 大学院・経済学研究科, 准教授 (90432731)
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| Project Period (FY) |
2011 – 2012
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| Keywords | 会計学 / 税効果会計 / 会計利益と課税所得の差額 |
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| Research Abstract |
This study focuses on the value relevance of tax information, and reveals following three points. First, I find that managers use the valuation allowance for deferred tax assets to meet their forecast earnings. Second, I show that the large positive (negative) book-tax differences are caused by the income smoothing behavior. Third, my research indicates that Japanese stock market reflects such tax-related information as an indicator of earnings quality.
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