文章基本信息

标题：Abnormal returns following goodwill impairment write-offs
本地全文：下载
作者：Karen Sherrill ; Robert Stretcher
期刊名称：Journal of Finance and Accountancy
电子版ISSN：1948-3015
出版年度：2020
卷号：28
出版社：Academic and Business Research Institute
摘要：The authors examine abnormal stock returns for firms that take goodwill impairmentwrite-downs post 2002 when the accounting rules changed. Existing literature finds positivecumulative abnormal returns (CARs) for both six months and one-year post event. We add to theliterature by testing if investors perceive that the relative size of the event is important and findthat the larger the relative impairment size, the greater the abnormal return post-event. Wefurther examine if this reaction is different based on the status of the market and find thatabnormal returns are much greater post-event when the market is generally negative.
关键词：Goodwill; impairment ;write-down ;earnings management