在评估管理层的管理工作时,资产减值是否应包括在收益中?

IF 2.1 Q2 BUSINESS, FINANCE
Andrew Dymock, Peter Wells, Brett Govendir
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引用次数: 0

摘要

本文旨在考虑资产减值在评估管理层管理时的相关性。设计/方法/方法本文考虑了收益(包括和不包括资产减值)与同期股票回报的关联,后者被用作衡量管理绩效和管理能力的指标。研究结果表明,与不含资产减值的收益相比,包含资产减值的收益(当期公司业绩的会计计量)对同期股票收益(当期公司业绩的客观评价)具有更高的解释力。与此相一致的是,已确认的资产减值与同期股票收益显著相关。这些结果通常发生在公司年度,以及显示减值指标的公司年度和确认资产减值的公司年度。研究局限/启示本文补充了提供未及时确认资产减值证据的文献。此外,在评估所谓的成长型公司的会计信息的相关性方面确定了挑战。这些发现支持如果管理被接受为财务报告的目标,则在损益表中继续确认资产减值。报告还提出了有关确认资产减值的问题,这些问题可以通过加强披露来解决。原创性/价值这篇论文的独特之处在于它考虑了评估管理的会计信息的相关性,而不是决策。它还考虑了所有公司的替代业绩衡量标准(包括和不包括资产减值的收益),而不仅仅是那些披露替代衡量标准(即公平竞争)的公司。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Should asset impairments be included in earnings when evaluating stewardship by management?
Purpose This paper aims to consider the relevance of asset impairments when evaluating stewardship by management. Design/methodology/approach This paper considers association of earnings (including and excluding asset impairments) with contemporaneous stock returns which are used as a measure of management performance and demonstration of stewardship. Findings Evidence is provided of earnings including asset impairments (an accounting measure of current measure firm performance) having a higher explanatory power for contemporaneous stock returns (an objective evaluation of current period firm performance) than earnings exclusive of asset impairments. Consistent with this, recognized asset impairments are significantly associated with contemporaneous stock returns. These results occur across firm years generally, as well as for firm years exhibiting indicators of impairment and firm years recognizing asset impairments. Research limitations/implications This paper adds to the literature providing evidence of asset impairments not being recognised on a timely basis. Additionally, challenges are identified in evaluating the relevance of accounting information for so-called growth firms. Practical implications These findings support continued recognition of asset impairments in the Statement of Profit or Loss if stewardship is accepted as an objective for financial reporting. It also suggests issues with the recognition of asset impairments that might be addressed by enhanced disclosure. Originality/value This paper is distinctive in that it considers the relevance of accounting information for evaluating stewardship, as distinct from decision-making. It also considers alternate measure of performance (earnings including and excluding asset impairments) for all firms rather than only those disclosing an alternate measure (i.e. a fair horse race)
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来源期刊
Pacific Accounting Review
Pacific Accounting Review BUSINESS, FINANCE-
CiteScore
3.80
自引率
9.50%
发文量
36
期刊介绍: Pacific Accounting Review is a quarterly journal publishing original research papers and book reviews. The journal is supported by all New Zealand Universities and has the backing of academics from many universities in the Pacific region. The journal publishes papers from both empirical and theoretical forms of research into current developments in accounting and finance and provides insight into how present practice is shaped and formed. Specific areas include but are not limited to: - Emerging Markets and Economies - Political/Social contexts - Financial Reporting - Auditing and Governance - Management Accounting.
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