ScholarWorks@숙명여자대학교

초록

The purpose of this study is to examine the effect of the change in the largest shareholder on accounting transparency. This study confirmed the relationship between the change of the largest shareholder and accounting transparency through the possibility of error in financial statements. The effect of the changes in the largest shareholder on the likelihood of error in the financial statements may differ depending on the audit quality. We analyzed whether the size of the auditor affects this relationship. The main results of the analysis of listed companies from 2011 to 2015 are as follows. First, the results showed that the change in the largest shareholder increased the possibility of error in financial statements. In addition, the positive relationship between the change of the largest shareholder and the possibility of error in financial statements are smaller the company audited by the Big4 auditor. In addition, the following analysis was conducted to ensure the robustness of the research. This study adds to the extant literature on the effect of the change in largest shareholder on accounting transparency. The regulator considers the change in the largest shareholders as a matter of caution. This study suggests that stake holders should be careful with the companies that change the largest shareholder.

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