경영전문대학원

1980. 3. - 1984. 2. 서울대학교 경영대학 경영학과 입학, 졸업(경영학사)

1984. 3. - 1986. 2. 서울대학교 대학원 경영학과 입학, 졸업(경영학석사; 회계학 전공)

회계감사 및 재무회계

1992. - 1993. University of Texas at Austin, Assistant Instructor
1994. - 1995. University of Maryland at College Park, Lecturer
1995. - 1996 University of Oregon, Visiting Assistant Professor
1996 - 현재 동국대학교 교수

• 재무회계, 명경사, 2003
• 신회계원리, 경문사, 2006
• Strategic Audit Timing Plans, 2005, 회계학연구
• 전략적 감사위험모형에 관한 연구, 2006, 경영학연구
• 개인투자자의 심리회계, 2006, 경영학연구
• 감사위원회의 자발적 수요 요인에 대한 연구, 2008, 회계와 감사연구
• 감리지적기업의 경영자, 이사회 및 외부감사인 특성, 2009

BBA or BA: Seoul National University

MS or MBA: Seoul National University

세무회계,재무회계

• 2002 ~ Present: Professor, Dongguk Business School
(Teaching courses: Corporate Tax Accounting, Accounting Principle, Tax and Business strategy)
• 1999 ~ 2002: Halla University

A. [Learning & Pedagogical Research]

§ Peer Reviewed Journal (Peer reviewed journal articles):

Aggressive Tax Planning by K Securities Company and S Bank : Converting Taxable Interest Income to Tax-Free Gains from Trading Derivatives, KOREAN ACCOUNTING JOURNAL(Dec 2008) with W.O. Jung and B.W. Jun

Merger with a Firm with Net Operating Loss – The Case of HANA Bank, Korean Journal of Taxation Research(June 2008) with W.O. Jung and B.W. Jun

The Corporate Trade Case of 'A' Corporate – The Contractual Perspective of Tax Planning, Korean Journal of Taxation Research(September 2007) with W.O. Jung


B. [Discipline-Based Scholarship]

§ Peer Reviewed Journal (Peer reviewed journal articles):

"Taxation Issues on Back－Door Listing of Private Companies － The Case of a Movie Star Yong－June Bae's BOF", (June 2011)

"Effectiveness of Tax Preferences for Venture Companies in Terms of Implicit Tax Phenomena", (Dec 2010)

"Aggressive Tax Planning by Using Legal Loopholes and Its Non－Tax Costs －The Case of Samsung Everland's Convertible Bonds", (June 2010)

"A Study on the Complete－Comprehensive System of the Gift Tax", (June 2010)

"A Case of IFRS Adoption: Eagon Industrial Co., Ltd.", (May 2010)

"A Study of Enhancing the Range of Charitable Deduction on Tax Law - focusing on the plan to regard service giving as charitable contribution", (April 2010)

"Relationship between Earnings Management Practices and Liabilities Measured as the Book-Tax Income Difference", (April 2010)

"A Study on Evaluation of Unlisted Stocks under the Inheritance and Donation Tax Law Using Costs of Equity Capital", (March 2010)

"Problems with and Remedies for a Consolidated Return", Journal of Taxation Accounting(March 2009) with Juneq Lee

"A study on the VAT Issues for Gold Bullion Trades", Seoul Tax Law Review 2007 Vol 13-3 with H. Park

"The Evasions of Gold Bullion Trades and Its Improvements", Seoul Tax Law Review 2007 Vol 13-2 with B.W. Jun

"How to Reduce Tax Loopholes and Penalize Transactions without Records in the Beverage Industry", Korean Journal of Taxation Research(Dec 2006) with W.W. Choi and B.W. Jun

"Book-Tax Difference of Korean Firms Examined Using Actual Tax-Reconciliation Date", Korean Accounting Review(Dec 2006) with W.O. Jung and J.K. Ko, H.C. Roh

"Intra-industry Information Transfers Associated with the Disclosure of Legal Management Application and their Determinants", KOREAN MANAGEMENT REVIEW(June. 2006)

"An Empirical Study on Revenue Contribution of Meals & Entertainment Expenditure in Excess of Corporate Tax Deduction Limit", Korean Journal of Taxation Research(Dec. 2005) with W.W. Choi and Y.H. Lee

"A Study on The Concept of Transfer under Capital Gain Taxation", Seoul Tax Law Review(Vol 11-1, July 2005) with J.S. Jung

"A Study on the Implementation of Consolidated Tax Return Filing to the Korean Corporate Tax System", Korean Journal of Taxation Research(Dec. 2004) with Y.K. Chung and D.H. Chung

"Incremental Effect and Determinants of Equity to Shareholders in Regal Management", KOREAN MANABEMENT REVIEW(June. 2004) with H.J. Kang

"Firm Characteristic and Corporate Income Tax Smoothing Behavior Using Indirect Tax Exemptions Items", Korean Journal of Taxation Research(Aug. 2002) with T.H. Lee and Juneq Lee

"New Evidence on Realization of Implicit Taxes and Implicit Taxes Shifting through Firm Market Structure", KOREAN MANAGEMENT REVIEW(May. 2001)


§ Books (Scholarly books):

Korean Tax Accounting, Aubook Press, 2009 with S.H. Yang

Principles of Accounting, Pakyoungsa Press, 2008 with C.W. Lee and H.D. Cho

ax Strategy of Business and Tax Account Research, Younghwachosetongram Press, 2008 with Juneq Lee

Bachelor of Business Administration, Inha University, 1990-1994

Master of Business Administration, Seoul National University, 1997-1999

재무회계, 소득세

Professor, Dongguk University, 2008-Present
Korea Deposit Insurance Corporation/Researcher, 2002-2003
Softbank @platform/Researcher, 2000-2001
Halla Heavy Industrial Company, 1994-1996

1. Published Papers

“Transparency Improvement of Non-Profit Organizations and the Role of Accounting,” (with W. H. Kim, K. A. Jeon, C. M. Jung, and O. R. Song), 2013, Korean Accounting Journal 22(3), pp.159-197.

“The Effect of the Tax Subsidy on Accounting Conservatism” (with U.S. Son and K. S. Kim), 2013, Korean Journal of Taxation Research 30(2), pp.31-65.

“The Effect of Accrual-based and Real Earnings Management by Non-listed Small Firms on Auditor Choices” (with J. I. Park), 2013, Journal of Taxation and Accounting 14(3), pp. 29-72.

“Firm Location and Earnings Management: Korean evidence” (with J.H. Choi, Joseph Comprix, and H.J. Kwon). 2012, Asia-Pacific Journal of Accounting & Economics 19(3), pp.292-317. (SSCI)

“The Dividend Payout and Analysts’ Optimistic Forecasts Bias”, 2012, Journal of Taxation and Accounting 13(1), pp.189-218.

“Practice Guidelines and Education Materials of Valuation and Procedures of Intangible Assets in Business Combinations” (with S. Y. Kwon, J. I. Kim, and G. J. Kwon), 2012, Korean Accounting Journal 21(5), pp.293-330.

“Firm Location, Analyst Following, and Bias in Analysts’ Earnings Forecasts (with J.H. Choi), 2010, Journal of Taxation and Accounting 11(4), pp.275-304.

“Re-Examination of Accounting Transparency in Korea” (with I. M. Song, C. W. Lee, K J. Lee, and D. J. Jung), 2010, Accounting & Auditing Research 52, pp.327-365.

“The Effect of External Audits and the Demand for Differential Audits by Non-listed Small Firms on Credit Rating” (with J. I. Park), 2010, Accounting & Auditing Research 52, pp.363-405.

“The Effect of Listing Status and Audit Quality on Earnings Quality”, Korean Accounting Journal 19(3), pp.55-82.

"The Effect of Regulation Fair Disclosure on Conference Calls: The Case f Earnings Surprise" (with Bok Baik), 2009, Asia-Pacific Journal of Financial Studies 38(6),pp.801-829,(SSCI)

"The Association between Firm Location and the Tendency to Meet or Beat Analysts' Earnings Forecasts" (with Jong-Hag Choi), Korean Management Review, April 2009, Vol 38. 611-639.

"Conditional Conservatism, Listing Status, and Auditor Quality" (with Lee-Seok Hwang, Kyung-Ho Park, Woo-Jong Lee), Korean Accounting Review, July 2008, Vol. 33, 145-182 [in English].

"Strategic plan for the convergence to IFRS" (with In-Man Song, Chang-Woo Lee, Kab-Jae Lee), 회계와 감사연구, 2007, Vol45, 187-208.

"Strategic for Improvement of International Competitiveness on Accounting Practices" (with with In-Man Song, Chang-Woo Lee, Kab-Jae Lee, Do-Jin Jung), Accounting & Auditing Research, 2006, Vol 44, 1-26.

"An empirical analysis of the effect of a performance-based compensation plan: Evidence from an automobile distribution company in Korea" (with Tae-Sik Ahn), Korean Accounting Review, December 2005, Vol. 30, Special Issue 2, 79-107 [in English].


2. Presentations

"The effect of Foreign Ownership on the Association of Dividend Changes and Future Earnings"(with Tae-Goo Kang, Chang-Woo Lee)

August 2009 The American Accounting Association Annual Meeting, New York

"The Fundamental Value to Price Anomaly: An Abnormal Earnings Growth Valuation Model"

August 2008 The American Accounting Association Annual Meeting, Anaheim

"The fundamental value to price anomaly: An abnormal earnings growth valuation model"
December 2007 Korean Accounting Association Winter Conference, Korea

"Does sales commission affect the sales mix? Evidence from an automobile distribution company" (with Tae-Sik Ahn, Hyung-Rok Jung, and Jin-Ha Park)

January 2008 The Management Accounting Section Research and Case Conference, California

August 2007 Korean Accounting Association Summer Conference, Korea

"Urban versus rural firms and opportunistic earnings management: Korean evidence" (with Jong-Hag Choi, Joseph Comprix, and Helen Hye-jin Kwon)

January 2008 Journal of Contemporary Accounting and Economics Joint Symposium, Hong Kong

September 2007 International Association for Accounting Education and Research, Mexico

August 2007 The American Accounting Association Annual Meeting, Chicago

December 2006 Korean Accounting Association Winter Conference, Korea

"An empirical analysis of the effect of a performance-based compensation plan: Evidence from an automobile distribution company in Korea" (with Tae-Sik Ahn)

November 2005 The Asian Academic Accounting Association 6th Annual Conference, Malaysia

August 2005 Korean Accounting Association Summer Conference, Korea

Bachelor of Arts in Business Administration, Korea University, Seoul, Korea, 1987-1991

Master of accountancy, George Washington University, Washington D.C., U.S.A., 1998-2001 / Master of Business Administration, Korea University, Seoul, Korea, 1994-1998

재무회계

Dongguk University, Professor, March 2009 – Present
The Bank of Korea, Economist, January 1990 – June 1993
Passed CPA exam in Maryland, January 2001
금융감독원 회계제도실 자문교수 역임
공인회계사 시험위원 역임
입법고시 출제위원 역임
서울시 투자 출연기관 경영평가위원 역임
중부세무서 국세심사위원 역임

§ Peer Reviewed Journal :
(SSCI Listed Journal)
K Cho, Y Kim, S Yoon, “How actuarial assumptions affect the DBO under international financial reporting standards?” Australian Accounting Review, 2014.

K Kwon, K Cho, Y Han, Y Yoon, “The impact of IFRS adoption on the relation between earnings quality and information asymmetry in Korea?” Emerging Market Finance and Trade, 2015.

B Baik, K Cho, W Choi, J Kang, “The role of institutional environments in cross border mergers: a perspective form bidders’ earnings management behavior” Management International Review, 2015.

J Yi, K Cho, “Performance of Technology Sector Hedge Funds in Emerging Markets.” Emerging Market Finance and Trade, 2015.

(KCI Listed Journal)
Coau, Review of Accounting and policy Studies, “Real earnings management and CEO turnover of Korean Agricultural Cooperatives“, Nov, 2019

Coau, Korean Accounting Review, "The effects of the disclosure of key audit matters on audit efforts and audit fees: moderating effects of bargaining power, auditor tenure and auditor size", Dec, 2019

Coau, Korean Journal of Business Administration, "Effects of female executive in the firm on accounting quality", Sep, 2019

Coau, Global Business Administration Review, "The Effect of CEO Turnover on the Auditor’s audit effort", Jun, 2019

Coau, Journal of Taxation and Accounting, “The Effects of Financial Statment Comparability on Firm Visibility”, Dec, 2018

Coau, Journal of Taxation and Accounting, “The Effects of Conservative Accounting on Cost of Equity Capital-Perspectives from Prospect Theory”, April, 2018

Coau, “Effect of Proactive and Reactive Outside Directors’ behavior on Banks’ Financial Performance” Productivity Review, 2017.

Coau, Journal of Taxation and Accounting, “Correlation of Review option on the Internal Accounting Control System and Material Misstatements in Financial Statements”, Dec, 2016

Coau, Korean Accounting Journal “The Impact of Mandatory K-IFRS Adoption on Accounting Comparability in the same industry: Focusing on the Differences of the Corporate Governance Characteristics", Dec, 2015

Coau, Korean Accounting Review, "Accounting Conservatism of Financial Statements Prior to Firm De-listing", Oct, 2015

K Cho, S Lee, “The impact of the intangible assets on the firm value” Productivity Review, 2014.

K Cho, W Choi, E Lee, K Jung, “ Accounting treatment of prepaid points under K-IFRS” Korean Accounting Journal, 2013.

K Cho, H Park, “Introduction of unification tax and distortional taxation” Korean Journal of Taxation Research, 2013.

K Cho, Y Kim, J Kim, “Real option valuation of corporate R&D investment considering strategic flexibility” Journal of strategic management, 2013.

K Cho, H Kim, D Yang, “Reliability of revaluation information on tangible assets: an empirical study on the effect of amendment to accounting standards No. 5” Korean Accounting Journal, 2012.

Coau, Korean Accounting Review, "Relevance of Fair Value Accounting: Property, Plant and Equipment-revaluation model", Mar, 2012

Coau, The Journal of Business Education, "The effects of financial accounting's lecture on student evaluation and Attitudes" Feb, 2011

Coau, Korean Accounting Review, "The impact of the agency cost on accounting conservatism", Sep, 2011

Coau, Business Education "Estimating the asset price after 9.11 Terrorist Attacks: The case study of South West Airline, Feb, 2010

Coau, Accounting & Auditing Research, "A revisit to the fair valuation of tangible assets in Korea" Jun, 2010


§ Research Award:

Prize for the Best Paper, awarded at the Korean Academic Society of Business Administration Annual Meeting (2009)

동국대 학사(회계), Seoul, Korea, 2003

루이지애나공대 회계석사, USA, 2006

재무회계 (Financial Accounting)

동국대학교 다르마칼리지 교양외국어센터장(2023. 4. 1.~)
동국대학교 회계학과, 교수(2022-현재), 부교수, 2020-2022
Woodbury University, 학과장, 부교수, 2019-2020
Ajou University, Assistant/Associate Professor, 2014-2019
University of Michigan-Dearborn, Assistant Professor, 2011-2014

• The Dynamics Information Technology and Systematic Risk, M. Wimble, Y. Ro, Cheong Kyu Park, Journal of Computer Information Systems, Forthcoming
• Financial Reporting Conservatism and Voluntary CSR Disclosure, S. Cho, P. Kang, C. Lee, and Cheong Kyu Park Accounting Horizons, 2020

BBA at Thompson Rivers University

MACY at University of Texas

재무회계

USCPA passed, RA at UT

19. 김미숙, 최준혁, 양동훈. 2020.02. 감사시장 경쟁 특성과 초도감사 보수할인. 연세경영연구 57 (1):29-53.

18, Choi, J. H., S. Kim, and A. Lee. 2020.01. CEO Tenure, Corporate Social Performance, and Corporate Governance: A Korean Study. Sustainability 12 (1):99.

17. 최준혁, 조광희, 박시훈. 2019.12. 핵심감사제도 도입이 감사노력 및 감사보수에 미친 영향 : 협상력, 계속감사기간, 감사인 크기의 조절효과. 회계학연구 44 (6):191-229.

16. Choi, J. H., S. Kim, and D.-H. Yang. 2019.07. Do Managers Pay CSR for Private Motivation? A Dividend Tax Cut Case in Korea. Sustainability 11 (15):4041.

15. 유호림, 최준혁, 양동훈. 2019.06. 중국의 중소벤처기업 지원세제에 관한 연구 조세연구 19 (2):73-103.

14. 최준혁, 김새로나. 2019.03. 감사수익성이 감사노력의 효과에 미치는 영향: 직급별감사시간을 중심으로. 회계ㆍ세무와 감사 연구 61 (1):277-308.

13. 배홍기, 양동훈, 최준혁. 2018.10. 감사인의 감사노력은 수주산업의 이익조정을 억제하는가? 회계저널 27 (5):29-74.

12. Choi, J., S. Kim, and D.-H. Yang. 2018.06. Small and Medium Enterprises and the Relation between Social Performance and Financial Performance: Empirical Evidence from Korea. Sustainability 10 (6):1816.

11. 최준혁, 허익구, 배홍기. 2018.03. 분반기검토시간이 감사시차에 미치는 영향 회계ㆍ세무와 감사 연구 60 (1):127-170.

10. 배홍기, 양동훈, 최준혁. 2017.12. 산업전문감사인과 직급별감사시간 - 감사인은 시간당 감사보수 할인을 어떻게 대처하는가? 세무와 회계저널 18 (6):241-283.

9. 최준혁, 조광희, 전홍준. 2017.11. KT의 CSV: 기가아일랜드를 통한 공유가치창출. Korea Business Review 21 (4):65-98.

8. 최준혁, 양동훈, 배홍기. 2017.09. CSR은 기업의 여유자원의 결과인가? - 기업수명주기를 통한 분석. 회계정보연구 35 (3):333-364.

7. 최준혁, 양동훈, 유현수, 김령. 2017.08. 비재무성과 공시의 신뢰성 검토: 지속가능보고서를 중심으로. 경영학연구 46 (4):1157-1200.

6. 최준혁, 허익구, 유현수. 2017.04. CSR 공시가 감사시간에 미치는 영향. 국제회계연구 72:259-287.

5. 최준혁, 허익구. 2016.12. 내부회계관리제도 도입의 이익조정 억제 효과에대한 재검토 국제회계연구 70:129-168.

4. 최준혁, 조광희, 양동훈. 2016.12. 재무제표제약과 이익조정. 회계정보연구 34 (4):391-416.

3. 김령, 양동훈, 홍영도, 최준혁. 2016.10. 사회적 책임 활동과 기업가치 간의 관계에 대한 국제비교: 한국과 중국시장을 배경으로. 회계저널 25 (5):67-112.

2. 이주섭, 유현수, 최준혁, 김갑순. 2016.09. 상속세 및 증여세법상 비상장주식 유사상장법인 주가비교평가법의 개선방안. 회계정보연구 34 (3):387-414.

1. 양동훈, 최준혁, 김령. 2015.08. XBRL 도입과 회계투명성. 대한경영학회지 28 (8):2065-2090.

고려대학교 경영학과

서울대학교 회계학

관리회계, 원가회계

Published Academic Papers (International Journals)

“Social performance incentives in mission-driven firms” (with Jae Yong Shin). Management Science (forthcoming). https://doi.org/10.1287/mnsc.2021.4232

“Why do firms utilize the flexibility allowed in CEO-employee pay ratio disclosure? Evidence from Dodd-Frank Act Section 953 (b)” (with Natalie Kim, Han Seong Ryu, and Jae Yong Shin), 2021. Accounting Horizons, 35(2), 83-106.

“Participatory budgeting and government efficiency: Evidence from municipal governments in South Korea.” International Review of Administrative Sciences (forthcoming). https://doi.org/10.1177/0020852321991208

“Determinants of gender budgeting practices: Evidence from municipal governments in South Korea.” Public Performance & Management Review (forthcoming). https://doi.org/10.1080/15309576.2022.2051113

Paper Presentation at International Conferences
• Invited Talk at OECD Fiscal Network Workshop on Participatory Budgeting, Virtual, April 2022
• 2022 American Accounting Association Management Accounting Section Midyear Meeting, Virtual, January 2022
• 2021 American Accounting Association Annual Meeting, Virtual, August 2021
• 2021 American Accounting Association Management Accounting Section Midyear Meeting, Virtual, January 2021
• 2020 American Accounting Association Annual Meeting, Virtual, August 2020
• 2019 American Accounting Association Annual Meeting in San Francisco, CA, August 2019

Honors and Awards
• American Accounting Association/Deloitte Foundation/J. Michael Cook Doctoral Consortium Fellow, 2020
• 한국연구재단 글로벌박사 펠로우십, 2019-2021
• SK사회적가치연구공모전 대상, 2019