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Asset Writedowns: Managerial Incentives and Security Returns


  • Strong, John S
  • Meyer, John R


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Suggested Citation

  • Strong, John S & Meyer, John R, 1987. " Asset Writedowns: Managerial Incentives and Security Returns," Journal of Finance, American Finance Association, vol. 42(3), pages 643-661, July.
  • Handle: RePEc:bla:jfinan:v:42:y:1987:i:3:p:643-61

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    References listed on IDEAS

    1. Flavin, Marjorie A, 1983. "Excess Volatility in the Financial Markets: A Reassessment of the Empirical Evidence," Journal of Political Economy, University of Chicago Press, vol. 91(6), pages 929-956, December.
    2. Michener, Ronald W, 1982. "Variance Bounds in a Simple Model of Asset Pricing," Journal of Political Economy, University of Chicago Press, vol. 90(1), pages 166-175, February.
    3. Singleton, Kenneth J, 1980. "Expectations Models of the Term Structure and Implied Variance Bounds," Journal of Political Economy, University of Chicago Press, vol. 88(6), pages 1159-1176, December.
    4. LeRoy, Stephen F & Porter, Richard D, 1981. "The Present-Value Relation: Tests Based on Implied Variance Bounds," Econometrica, Econometric Society, vol. 49(3), pages 555-574, May.
    5. Lawrence H. Summers, 1982. "Do We Really Know That Financial Markets Are Efficient?," NBER Working Papers 0994, National Bureau of Economic Research, Inc.
    6. Jeffrey A. Frankel & James H. Stock, 1983. "A Relationship Between Regression Tests and Volatility Tests of Market ncy," NBER Working Papers 1105, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Maul, D. & Schiereck, D., 2016. "The bond event study methodology since 1974," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 80723, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    2. repec:bof:bofrdp:urn:nbn:fi:bof-201508131351 is not listed on IDEAS
    3. Jalal, Abu M. & Prezas, Alexandros P., 2012. "Outsider CEO succession and firm performance," Journal of Economics and Business, Elsevier, vol. 64(6), pages 399-426.
    4. van Toor, Joris, 2017. "Essays on finance : Drivers of bank performance and the international cost of equity," Other publications TiSEM b607ab44-1bca-4f68-8ce9-6, Tilburg University, School of Economics and Management.
    5. Bruce Blonigen & Rossitza B. Wooster, 2003. "CEO Turnover and Foreign Market Participation," NBER Working Papers 9527, National Bureau of Economic Research, Inc.
    6. Marco Fasan & Carlo Marcon, 2014. "Accounting Tradition and other drivers of the Fair Value choice: An Opportunistic Management perspective," Working Papers 13, Department of Management, Università Ca' Foscari Venezia.
    7. Chia-Ling Chao & Shwu-Min Horng, 2013. "Asset write-offs discretion and accruals management in Taiwan: the role of corporate governance," Review of Quantitative Finance and Accounting, Springer, vol. 40(1), pages 41-74, January.
    8. Suntharee Lhaopadchan, 2010. "Fair value accounting and intangible assets: Goodwill impairment and managerial choice," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 18(2), pages 120-130, May.
    9. Markéta Boučková, 2016. "Quality of Disclosed Information with Emphasis on Goodwill Impairment," European Financial and Accounting Journal, University of Economics, Prague, vol. 2016(2), pages 37-52.
    10. Bikki Jaggi & Beixin Lin & Suresh Govindaraj & Picheng Lee, 2009. "The value relevance of corporate restructuring charges," Review of Quantitative Finance and Accounting, Springer, vol. 32(2), pages 101-128, February.
    11. Haggard, K. Stephen & Howe, John S. & Lynch, Andrew A., 2015. "Do baths muddy the waters or clear the air?," Journal of Accounting and Economics, Elsevier, vol. 59(1), pages 105-117.
    12. Francis, Bill & Hasan, Iftekhar & Li, Lingxiang, 2015. "Evidence for the existence of downward real earnings management," Research Discussion Papers 13/2015, Bank of Finland.
    13. repec:eee:labchp:v:3:y:1999:i:pb:p:2485-2563 is not listed on IDEAS
    14. Masahiro Enomoto, 2015. "A Reexamination of Changes in Accounting Policy: Evidence from Japan," Discussion Paper Series DP2015-12, Research Institute for Economics & Business Administration, Kobe University.
    15. Mary Hill & Peter Johnson & Kelvin Liu & Thomas Lopez, 2015. "Operational restructurings: where’s the beef?," Review of Quantitative Finance and Accounting, Springer, vol. 45(4), pages 721-755, November.
    16. Renneboog, Luc, 2000. "Ownership, managerial control and the governance of companies listed on the Brussels stock exchange," Journal of Banking & Finance, Elsevier, vol. 24(12), pages 1959-1995, December.
    17. Ali, Ashiq & Zhang, Weining, 2015. "CEO tenure and earnings management," Journal of Accounting and Economics, Elsevier, vol. 59(1), pages 60-79.
    18. Begoña Giner & Francisca Pardo, 2015. "How Ethical are Managers’ Goodwill Impairment Decisions in Spanish-Listed Firms?," Journal of Business Ethics, Springer, vol. 132(1), pages 21-40, November.
    19. repec:spr:manint:v:55:y:2015:i:6:d:10.1007_s11575-015-0254-7 is not listed on IDEAS
    20. Lori Holder-Webb & Thomas Lopez & Philip Regier, 2005. "The Performance Consequences of Operational Restructurings," Review of Quantitative Finance and Accounting, Springer, vol. 25(4), pages 319-339, December.
    21. Giampaolo Arachi & Valeria Bucci, 2013. "Do taxes affect firmsÕ asset write-downs? Evidence from discretionary write-downs of equity investments in Italy," Working Papers EC0002, University of Salento; Department of Management, Economics, Mathematics and Statistics, revised Dec 2013.
    22. Lawrence, Alastair & Sloan, Richard & Sun, Yuan, 2013. "Non-discretionary conservatism: Evidence and implications," Journal of Accounting and Economics, Elsevier, vol. 56(2), pages 112-133.
    23. Paul Mather & Alan Ramsay, 2006. "The Effects of Board Characteristics on Earnings Management around Australian CEO Changes," Accounting Research Journal, Emerald Group Publishing, vol. 19(2), pages 78-93, September.
    24. Wolfgang Drobetz & Thomas Erdmann & Heinz Zimmermann, 2007. "Predictability in the cross-section of European bank stock returns," Working papers 2007/21, Faculty of Business and Economics - University of Basel.

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