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Pension Funding Regulations and Actuarial Gains and Losses
Australian Accounting Review ( IF 2.680 ) Pub Date : 2020-05-25 , DOI: 10.1111/auar.12304 Kyongsun Heo 1 , Jinhan Pae 2
Australian Accounting Review ( IF 2.680 ) Pub Date : 2020-05-25 , DOI: 10.1111/auar.12304 Kyongsun Heo 1 , Jinhan Pae 2
Affiliation
With pervasive pension funding deficits, Korean firms have been under pressure to improve their funding levels. We examine whether firms have incentives to set obligation‐decreasing pension assumptions when they have large pension deficits (pension obligations in excess of plan assets) and when they make insufficient contributions to external pension funds. We find that firms report larger actuarial gains (or smaller actuarial losses) associated with the remeasurement of pension liabilities when their pension funding ratio (the ratio of the fair value of plan assets to defined benefit obligations) is lower and when contributions to plan assets relative to pension service costs are smaller. Next, upon the introduction of a minimum pension funding guideline, we find that the effect of the funding ratio and contributions to pension funds on actuarial gains and losses is more pronounced for firms whose funding ratios are slightly below the minimum funding ratio than it is for firms whose funding ratios exceed or fall short of the minimum by a large margin. Our results indicate that firms opportunistically exercise discretion regarding corporate pension accounting under International Financial Reporting Standards to comply with pension funding regulations, thereby reducing perceived pension deficits.
中文翻译:
养老金筹集条例和精算损益
由于养老金资金赤字泛滥,韩国企业承受着提高其资金水平的压力。我们研究了当企业有大量的养老金赤字(养老金义务超过计划资产)以及对外部养老金的缴款不足时,是否有动机设定减少债务的养老金假设。我们发现,当养老金供资比率(计划资产的公允价值与设定的福利义务的比率)较低且相对于计划资产的供款相对时,企业报告与养老金负债重新计量相关的较大的精算收益(或较小的精算损失)。到养老金服务的费用较小。接下来,在引入最低养老金准则之后,我们发现,对于资金比率略低于最低资金比率的公司,资金比率和养老基金缴费对精算损益的影响比对资金比率超过或低于最低比率的公司影响更大。很大的利润。我们的结果表明,公司根据国际财务报告准则对公司的养老金会计进行了机会主义的裁量,以遵守养老金的资金法规,从而减少了养老金的赤字。
更新日期:2020-05-25
中文翻译:
养老金筹集条例和精算损益
由于养老金资金赤字泛滥,韩国企业承受着提高其资金水平的压力。我们研究了当企业有大量的养老金赤字(养老金义务超过计划资产)以及对外部养老金的缴款不足时,是否有动机设定减少债务的养老金假设。我们发现,当养老金供资比率(计划资产的公允价值与设定的福利义务的比率)较低且相对于计划资产的供款相对时,企业报告与养老金负债重新计量相关的较大的精算收益(或较小的精算损失)。到养老金服务的费用较小。接下来,在引入最低养老金准则之后,我们发现,对于资金比率略低于最低资金比率的公司,资金比率和养老基金缴费对精算损益的影响比对资金比率超过或低于最低比率的公司影响更大。很大的利润。我们的结果表明,公司根据国际财务报告准则对公司的养老金会计进行了机会主义的裁量,以遵守养老金的资金法规,从而减少了养老金的赤字。