The Matching Principle, Earnings Persistence and Information Asymmetry

수익비용대응, 이익지속성 및 정보비대칭

  • Received : 2019.04.01
  • Accepted : 2019.05.02
  • Published : 2019.05.28


This study first examines whether the matching principle reduces information asymmetry and verifies the effect on earnings sustainability and information asymmetry. In the presence of information asymmetry between managers and information users, managers can reduce information asymmetry by increasing the quality of earnings. Information asymmetry is measured by the financial analysts' earnings forecast variance. When we look at the results of previous studies, verify whether information asymmetry decreases as the response to the revenue cost increases and whether negative relationship between profit persistence and information asymmetry appears when the response to the revenue cost is high. As a result, firms with high revenue cost response showed a decrease in information asymmetry. The persistence of the earningss from the high earnings-cost response shows that the analysts' earnings forecast dispersion decreases. This means that the better the response to the revenue cost, the better the quality of the earnings and the less the information risk about the uncertainty of the enterprise. This study is different from the previous studies in that it analyzed whether the persistence of the earnings that responded to the high revenue cost reduces the information asymmetry. The results of this study suggest that managers can reduce the information asymmetry by carrying out appropriate revenue - cost responses, which provides important implications for stakeholders who use accounting earnings information.


Matching Principle;Earnings Persistence;Information Asymmetry

표 1. 주요 변수에 대한 기술통계량

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표 2. 변수들의 상관관계 분석표

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표 3. 가설 1에 대한 회귀분석결과

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표 4. 가설 2에 대한 회귀분석결과

CCTHCV_2019_v19n5_280_t0004.png 이미지


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