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A Study on Credit Ratings and the Asset Revaluation of Unlisted Small and Medium Firms
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비상장 중소·중견기업의 신용등급과 자산재평가에 관한 연구

논문 기본 정보

Type
Academic journal
Author
Yoon Jae Sub (IBK기업은행 센터장) Junghwa Hong (가천대학교)
Journal
글로벌경영학회 글로벌경영학회지 글로벌경영학회지 제14권 제3호 KCI Accredited Journals
Published
2017.6
Pages
151 - 170 (20page)
DOI
https://doi.org/10.38115/asgba.2017.14.3.151

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A Study on Credit Ratings and the Asset Revaluation of Unlisted Small and Medium Firms
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Research history (2)

2018

A Study on Relationship among the Relevance of Tangible Asset Revaluation, Earnings Quality, and Corporate Credit Rating
윤재섭 회계세무학과 2018.01 Thesis

2017

A Study on Credit Ratings and the Asset Revaluation of Unlisted Small and Medium Firms
Yoon Jae Sub ,  Junghwa Hong 글로벌경영학회지 2017.06 Academic journal
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Abstract· Keywords

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The purpose of this study is to compare the financial characteristics of 198 unlisted small and medium firms that have revalued their assets over the seven year period from 2008 to 2014. The results of this study are expected to help the users of accounting information to understand the intention of the revaluation accounting of companies that selected the tangible asset revaluation model. The financial data of unlisted small and medium firms in this study were made through manual operation from the Financial Supervisory Service(fss) and can be used to obtain data for the previous year and the following year based on the year in which the revaluation model was selected. It is a firm that can obtain the data of the previous year and the next year based on the year in which the revaluation model was selected. Among the unlisted small and medium firms, the asset revaluation sample is similar to the asset size and the business. The empirical results of this study are summarized as follows. First, low cash ratio is the motive factor for small to medium firms to select asset revaluation. And the cash ratio is low, it can be a motive factor for raising the cash ratio by revaluing the assets. Third, high borrowing-to-equity ratio was identified as a motive factor for asset revaluation. This shows that asset revaluation can act as a motive factor for increasing total assets and reporting higher total assets. Third, high borrowing-to-equity ratio was identified as a motive factor for asset revaluation. High borrowing means borrowing more than equity capital. When the revaluation is increased by revaluing the asset, it is accumulated for as other comprehensive income, which is a capital item. This is because even if the borrowing is intact, the amount of equity capital will increase and the debt-to-equity ratio will eventually be lowered. Fourth, firms with higher total assets are identified as motivators for asset revaluation. The results show that firms with high total assets can be motivated to revaluate assets because the benefits from asset revaluation are larger than costs.
#비상장 중소·중견기업 #유형자산 재평가 #신용평가등급 #공정가치 #Unlisted Small and Medium Enterprises #Asset Revaluation #Credit Rating #Fair Value

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References (21)

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기현희 / 2013 / 기업특성에 따른 자산재평가와 기업가치 / 국제회계연구 (50):183~202 dbpia 김정애 / 2010 / 기업회계기준 제 5 호 개정에 의한 유형자산 재평가 동기 / 한국국제회계학회 춘계학술발표 논문집 :13~31 google schola 김정애 / 2010 / 기업회계기준서 제5호 개정에 의한 유형자산 재평가 동기 / 한국전산회계학회 춘계학술발표대회 논문집 :113~138 google schola 김정애 / 2014 / The PP&E Revaluations and Market Reactions / 국제회계연구 (54):39~59 google schola 박길영 / 2011 / 신용평가 제고를 위한 자산재평가 유인에 관한 연구 / 국제회계연구 (35):27~48 dbpia

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