Matches in SemOpenAlex for { <https://semopenalex.org/work/W2028379047> ?p ?o ?g. }
Showing items 1 to 98 of
98
with 100 items per page.
- W2028379047 endingPage "68" @default.
- W2028379047 startingPage "38" @default.
- W2028379047 abstract "Purpose This study aims to examine whether managers use discretion in determining transitional goodwill impairment loss (initial impairment loss or IIL) upon the adoption of SFAS no. 142, Goodwill and Other Intangible Assets, and whether and how the market reacts to the impairment loss and to the absence of goodwill amortization. Design/methodology/approach Various empirical models are applied to a sample of 870 firms that completed the IIL test. Findings It is found that more highly leveraged firms (firms that have undergone a recent management change) report lower (greater) goodwill impairment. Stock return is not associated with a boost in earnings caused by elimination of goodwill amortization, but it is negatively associated with an unexpected IIL, with the association being stronger for highly leveraged firms. Subsequently, analysts revise earnings forecasts for upcoming quarters downward in response to the unexpected IIL. Research limitations/implications Possibility of measurement errors in proxies is a caveat. Practical implications The findings are consistent with the strategic reduction of the goodwill impairment by management to avoid the violation of debt covenants and with the notion that new managers take a big bath so they can report higher earnings in the future. The market tests imply that unexpected IIL provides value‐relevant information about a negative view of the future profit‐making potential of the firm or an adverse impact on its debt contracts. No association with elimination of goodwill amortization can be interpreted as the market's anticipation or the lack of information content in goodwill amortization. Originality/value This research helps better understand the importance of managers' incentives in determining IIL as well as the stock market effect of the announcement of the IIL and the exclusion of goodwill amortization." @default.
- W2028379047 created "2016-06-24" @default.
- W2028379047 creator A5017729183 @default.
- W2028379047 date "2008-02-22" @default.
- W2028379047 modified "2023-09-27" @default.
- W2028379047 title "Discretionary behavior with respect to the adoption of SFAS no. 142 and the behavior of security prices" @default.
- W2028379047 cites W1488602824 @default.
- W2028379047 cites W1494322119 @default.
- W2028379047 cites W1569512328 @default.
- W2028379047 cites W1968294966 @default.
- W2028379047 cites W1978711401 @default.
- W2028379047 cites W1980512588 @default.
- W2028379047 cites W1983245674 @default.
- W2028379047 cites W1984178298 @default.
- W2028379047 cites W1987704442 @default.
- W2028379047 cites W1989358592 @default.
- W2028379047 cites W2048219031 @default.
- W2028379047 cites W2065807781 @default.
- W2028379047 cites W2077951714 @default.
- W2028379047 cites W2086166099 @default.
- W2028379047 cites W2108897618 @default.
- W2028379047 cites W2125520394 @default.
- W2028379047 cites W2312640687 @default.
- W2028379047 cites W2322977851 @default.
- W2028379047 cites W2331407295 @default.
- W2028379047 cites W2334829880 @default.
- W2028379047 cites W2985724969 @default.
- W2028379047 cites W3124317644 @default.
- W2028379047 doi "https://doi.org/10.1108/14757700810853842" @default.
- W2028379047 hasPublicationYear "2008" @default.
- W2028379047 type Work @default.
- W2028379047 sameAs 2028379047 @default.
- W2028379047 citedByCount "60" @default.
- W2028379047 countsByYear W20283790472012 @default.
- W2028379047 countsByYear W20283790472013 @default.
- W2028379047 countsByYear W20283790472014 @default.
- W2028379047 countsByYear W20283790472015 @default.
- W2028379047 countsByYear W20283790472016 @default.
- W2028379047 countsByYear W20283790472017 @default.
- W2028379047 countsByYear W20283790472018 @default.
- W2028379047 countsByYear W20283790472019 @default.
- W2028379047 countsByYear W20283790472020 @default.
- W2028379047 countsByYear W20283790472021 @default.
- W2028379047 countsByYear W20283790472022 @default.
- W2028379047 countsByYear W20283790472023 @default.
- W2028379047 crossrefType "journal-article" @default.
- W2028379047 hasAuthorship W2028379047A5017729183 @default.
- W2028379047 hasBestOaLocation W20283790472 @default.
- W2028379047 hasConcept C10138342 @default.
- W2028379047 hasConcept C120527767 @default.
- W2028379047 hasConcept C121955636 @default.
- W2028379047 hasConcept C144133560 @default.
- W2028379047 hasConcept C162118730 @default.
- W2028379047 hasConcept C162324750 @default.
- W2028379047 hasConcept C169824061 @default.
- W2028379047 hasConcept C199521495 @default.
- W2028379047 hasConcept C2778860618 @default.
- W2028379047 hasConcept C2781009383 @default.
- W2028379047 hasConcept C2781027943 @default.
- W2028379047 hasConcept C2781198434 @default.
- W2028379047 hasConcept C2781426361 @default.
- W2028379047 hasConcept C556758197 @default.
- W2028379047 hasConceptScore W2028379047C10138342 @default.
- W2028379047 hasConceptScore W2028379047C120527767 @default.
- W2028379047 hasConceptScore W2028379047C121955636 @default.
- W2028379047 hasConceptScore W2028379047C144133560 @default.
- W2028379047 hasConceptScore W2028379047C162118730 @default.
- W2028379047 hasConceptScore W2028379047C162324750 @default.
- W2028379047 hasConceptScore W2028379047C169824061 @default.
- W2028379047 hasConceptScore W2028379047C199521495 @default.
- W2028379047 hasConceptScore W2028379047C2778860618 @default.
- W2028379047 hasConceptScore W2028379047C2781009383 @default.
- W2028379047 hasConceptScore W2028379047C2781027943 @default.
- W2028379047 hasConceptScore W2028379047C2781198434 @default.
- W2028379047 hasConceptScore W2028379047C2781426361 @default.
- W2028379047 hasConceptScore W2028379047C556758197 @default.
- W2028379047 hasIssue "1" @default.
- W2028379047 hasLocation W20283790471 @default.
- W2028379047 hasLocation W20283790472 @default.
- W2028379047 hasOpenAccess W2028379047 @default.
- W2028379047 hasPrimaryLocation W20283790471 @default.
- W2028379047 hasRelatedWork W1575468112 @default.
- W2028379047 hasRelatedWork W2085377258 @default.
- W2028379047 hasRelatedWork W2089863862 @default.
- W2028379047 hasRelatedWork W2101475108 @default.
- W2028379047 hasRelatedWork W2416044852 @default.
- W2028379047 hasRelatedWork W3003330435 @default.
- W2028379047 hasRelatedWork W3096308297 @default.
- W2028379047 hasRelatedWork W3123939399 @default.
- W2028379047 hasRelatedWork W3134567082 @default.
- W2028379047 hasRelatedWork W3213018456 @default.
- W2028379047 hasVolume "7" @default.
- W2028379047 isParatext "false" @default.
- W2028379047 isRetracted "false" @default.
- W2028379047 magId "2028379047" @default.
- W2028379047 workType "article" @default.