{"title":"并购后的商誉减值:收购层面的证据","authors":"James Potepa, Jacob Thomas","doi":"10.2308/jfr-2020-026","DOIUrl":null,"url":null,"abstract":"ABSTRACT To provide a fuller picture of compliance with ASC 350-20, we hand-collect data to track 893 large acquisitions across time. Our model, which links impairments to post-acquisition accounting and market performance declines as well as acquisition-year attributes, identifies 349 acquisitions as likely to impair. We provide evidence that 65 percent of these at-risk acquisitions impair in the next two years. Our study should be useful to future research as it clarifies the role of hand-collection, market to book ratios, segment-level data, and volatility. We also offer descriptive evidence on impairment patterns. Overall, we find high levels of compliance and little opportunism.","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":2.3000,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Goodwill Impairment after M&A: Acquisition-Level Evidence\",\"authors\":\"James Potepa, Jacob Thomas\",\"doi\":\"10.2308/jfr-2020-026\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"ABSTRACT To provide a fuller picture of compliance with ASC 350-20, we hand-collect data to track 893 large acquisitions across time. Our model, which links impairments to post-acquisition accounting and market performance declines as well as acquisition-year attributes, identifies 349 acquisitions as likely to impair. We provide evidence that 65 percent of these at-risk acquisitions impair in the next two years. Our study should be useful to future research as it clarifies the role of hand-collection, market to book ratios, segment-level data, and volatility. We also offer descriptive evidence on impairment patterns. Overall, we find high levels of compliance and little opportunism.\",\"PeriodicalId\":42044,\"journal\":{\"name\":\"Journal of Financial Reporting\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":2.3000,\"publicationDate\":\"2023-11-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Financial Reporting\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2308/jfr-2020-026\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Financial Reporting","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2308/jfr-2020-026","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Goodwill Impairment after M&A: Acquisition-Level Evidence
ABSTRACT To provide a fuller picture of compliance with ASC 350-20, we hand-collect data to track 893 large acquisitions across time. Our model, which links impairments to post-acquisition accounting and market performance declines as well as acquisition-year attributes, identifies 349 acquisitions as likely to impair. We provide evidence that 65 percent of these at-risk acquisitions impair in the next two years. Our study should be useful to future research as it clarifies the role of hand-collection, market to book ratios, segment-level data, and volatility. We also offer descriptive evidence on impairment patterns. Overall, we find high levels of compliance and little opportunism.