Research on "Major Shareholder Tax Burden and Corporate Dividends"
Excellence Prizes Awarded to Professors Kim Beomjun, Cho Eunhye, Lee Junghwa, and Tom Scott
Professors Jung Taejin and Na Hyunjong of Hanyang University have been selected as the recipients of the Grand Prize at the 3rd Seohyun Academic Award.
On the 16th, awardees and judges are taking a commemorative photo at the '3rd Seohyun Academic Award' ceremony. From the front row, left to right: Professor Eunhye Cho, Professor Junghwa Lee, Professor Hyunjong Na, Professor Taejin Jung, Professor Beomjun Kim. From the back row, left to right: Judge Kyungbong Ahn, Chairman Mansik Ahn, Chief Judge Taehwa Yoon, Judge Jonghak Choi. Seohyun Academic Foundation
The Seohyun Academic Foundation announced on December 16 that it held the 3rd Seohyun Academic Award ceremony. The Seohyun Academic Award was established in 2022 to recognize outstanding research in the fields of taxation and accounting, and to support the academic activities of next-generation researchers.
This year’s Grand Prize was awarded to Professors Jung Taejin and Na Hyunjong for their joint research on “The Effect of Inheritance and Gift Tax Burden on Major Shareholders on Corporate Dividend Policy.” The study was recognized as an international research project that empirically identified the pathways through which the tax burden on major shareholders in Korea’s unique inheritance and gift tax environment is transferred to corporate financial policy, investment, employment, and market value. The research was highly rated for its empirical analysis of how inheritance and gift tax burdens on major shareholders affect corporate dividend and investment decisions, as well as for its originality and policy implications.
Two Excellence Prizes were awarded, one in the field of taxation and one in accounting. In taxation, Professor Kim Beomjun of Seoul National University School of Law was recognized for his paper, “Limitations and Challenges of the Substantial Profit Distribution Doctrine: Suggestions for Improving Consistency among Commercial Law, Accounting Standards, and Tax Law.” The study pointed out that the Supreme Court’s doctrine on substantial profit distribution does not align with commercial law and accounting standards, causing confusion in practice, and proposed improvements to tax law based on case law and international examples. The academic contribution and logical completeness of the analysis of conflicts among these norms were highly praised.
In accounting, the Excellence Prize went to a joint research paper by Professors Cho Eunhye and Lee Junghwa of George Mason University Korea and Professor Tom Scott of the University of Auckland, titled “Is Communication between Auditors and Audit Committees Associated with Crash Risk?” The study empirically examined the unique forms and content of communication between auditors and audit committees in Korea, demonstrating their actual effects. It also found that written reports have a greater impact, providing important evidence for future improvements in audit standards and regulations, and was recognized for its academic significance.
Mansik Ahn, Chairman of the Seohyun Academic Foundation, stated, “The Seohyun Academic Award supports emerging researchers who will lead the future of taxation and accounting, fulfilling our social responsibility in the knowledge service sector. We will continue to support academic research to contribute to the development of the taxation and accounting industries, the formation of a healthy capital market, and the sustainable growth of the corporate ecosystem.”
The Seohyun Academic Foundation is the first academic foundation in the field of taxation and accounting established through voluntary contributions from executives and employees in 2022. The foundation plans to continue supporting academic advancement and research and development activities in taxation and accounting through the Seohyun Academic Award.
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