부산대학교 도서관

The purposes of this study are to examine whether the absolute value of discretionary accruals, a proxy of earnings quality, decreased after the implementation of the corporate governance ranking system, and to test the relation between earnings quality and corporate governance ranking results. The empirical result shows that earnings quality is improved after the implementation of the corporate governance ranking system. However, we could not find a statistically significant correlation between earnings quality and corporate governance ranking results. The probable reason is that it is hard to distinguish earnings quality among firms in our sample based on only three-year ranking results, and most firms have improved their earnings quality after the implementation of this ranking system.