haku: @indexterm Accounting standards / yhteensä: 876
viite: 484 / 876
| Tekijä: | Strong, J. S. Meyer, J. R. |
| Otsikko: | Asset writedowns : Managerial incentives and security returns. |
| Lehti: | Journal of Finance
1987 : JUL, VOL. 42:3, p. 643-661 |
| Asiasana: | SECURITIES ACCOUNTING STANDARDS CAPITAL BUDGETING |
| Kieli: | eng |
| Tiivistelmä: | It is described how the substantial flexibility accorded by current accounting standards shapes managerial incentives to concentrate write-offs and establish large reserves with probability of subsequent reversal. Capital budgeting aspect of asset write-downs is discussed. The ex ante financial performance of a sample of 120 American firms which announced write-downs between 1981 and 1985 is analyzed. Multiple discriminant analysis using a paired case control sample is employed to study the determinants of write-downs. Finally, effects of 78 write down announcements on shareholder wealth are analyzed. |
SCIMA