금융위기와 영업권 상각행태

Title
금융위기와 영업권 상각행태
Other Titles
Goodwill Write-offs by Overvalued Companies in the Late-2000s Financial Crisis*:A Big bath Scenario
Author(s)
박종국주상혁[주상혁]홍영은[홍영은]이치근[이치근]
Keywords
빅베스; 이익조정; 금융위기; 과대평가기업; 영업권상각; big bath; earnings management; financial crisis; firm overvaluation; goodwill impairment
Issue Date
201504
Publisher
한국경영교육학회
Citation
경영교육연구, v.30, no.2, pp.119 - 136
Abstract
We investigate the differences in goodwill accounting behavior of overvalued and non-overvalued firms during the global financial crisis, and whether the overpriced firms used this period of economic turmoil as an opportunity for big bath earnings management. We determine that share overpricing is positively related to the size of goodwill write-offs, signifying larger goodwill impairment in overvalued firms. We also find evidence that overvalued companies reported significantly higher goodwill impairment charges than the rest of the market during the late-2000s financial crisis. The results suggest that the overvalued firms used the global financial crisis as an opportunity for big bath earnings management, in order to boost future net income.
URI
http://hdl.handle.net/YU.REPOSITORY/32583
ISSN
1598-8651
Appears in Collections:
경영대학 > 회계세무학과 > Articles
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