- Author
- Grabiński Konrad (Cracow University of Economics, Poland)
- Title
- Discretionary Write-downs of Impaired Assets: Evidence from Public Listed Companies in Poland
Uznaniowe raportowanie utraty wartości aktywów w polskich spółkach giełdowych - Source
- Argumenta Oeconomica Cracoviensia, 2012, no 8, s. 31-55, tab., bibliogr. 21 poz.
- Keyword
- Sprawozdawczość finansowa, Spółki giełdowe, Wartość aktywów
Financial reporting, Stock market companies, Asset value - Abstract
- Celem artykułu jest przedstawienie praktyki raportowania utraty wartości aktywów przez polskie spółki giełdowe. Informacja ujawniana w notach sprawozdań finansowych nie jest wystarczająca do dokonania głębszych badań przeglądowych dotyczących np. stosowanych stóp dyskontowych lub też przyczyn dokonywania odpisów z tytułu utraty wartości. Wyniki badań wskazują, że w praktyce polskich spółek giełdowych rozpoznawanie utraty wartości można wiązać ze zjawiskiem aktywnego kształtowania wyniku finansowego, co jest zbieżne z wynikami badań przeprowadzonych w innych krajach. Jest to szczególnie widoczne w zakresie relacji pomiędzy ujawnieniem i skalą uznaniowego raportowania utraty wartości aktywów a zmianami w zarządzie spółek giełdowych. Jednocześnie stwierdzono, że reakcja rynku na istotne kwoty utraty wartości aktywów jest negatywna szczególnie w okresie między 10 a 12 dniem po opublikowaniu sprawozdania finansowego. (abstrakt autora)
The main aim of the article is to investigate the reporting of write-offs due to asset impairment by public listed companies in Poland. On the basis of related studies, the empirical thesis is posed as follows: H1 - the practice of reporting asset impairment is conducted with respect to true & fair principle and is utilised to signal the real economic condition of the company; H2 - the practice of asset impairment reporting is a tool of earnings management. Verification of the thesis is done using various methods, divided into three stages: an introductory analysis, a long-term horizon analysis focused on the underlying economic condition of the companies examined and a short-term horizon analysis focused on market reaction to asset impairment reporting. Empirical research provides evidence for the positive verification of the working hypothesis. The results are presented and compared with conclusions from related studies. The overall results show that the practice of asset impairment reporting in Poland is employed to manage earnings but is also utilised to signal the true underlying economic condition of the company. (author's abstract) - Accessibility
- The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics - Bibliography
-
- ACCA (2006) "Impairment of Assets: Measurement without Disclosure?". ACCA Research Report No. 92 (6 October). Boston.
- Alciatore, M., Dee, C., Easton, P. and Spear, N. (1998) "Asset Write-downs: A Decade of Research". Journal of Accounting Literature 17.
- Chen, Ch., Chen, S., Su, X. and Wang, Y. (2004) "Incentives for and Consequences of Initial Voluntary Asset Write-downs in the Emerging Chinese Market". Journal of International Accounting Research 3(1).
- Cotter, J., Stokes, D. and Wyatt, A. (1998) "An Analysis of Factors Influencing Asset Write-downs". Accounting and Finance 38.
- Elliot, J. and Hanna, J. (1996) "Repeated Accounting Write-offs and the Information Content of Earnings". Journal of Accounting Research 34.
- Elliot, J. and Shaw, W. (1998) "Write-offs as an Accounting Procedure to Manage Perceptions". Journal of Accounting Research 26.
- Francis, J., Hanna, D. and Vincent, L. (1996) "Causes and Effects of Discretionary Asset Write-offs". Journal of Accounting Research 34 (Supplement).
- Gregoriou, G. N. and Gaber, M. (eds) (2006) International Accounting - Standards, Regulations and Financial Reporting. London: Elsevier.
- Helfin, F. and Warfield, T. (1997) "Managerial Discretion in Accounting for Asset Write-offs". Working Paper. University of Wisconsin-Madison.
- Rees, L., Gill, S. and Gore, R. (1996) "An Investigation of Asset Write-downs and Concurrent Abnormal Accruals". Journal of Accounting Research 54 (Supplement).
- Rezaee, Z., Smith, J. A. and Lindbeck, R. S. (1996) "An Examination of Long-lived Asset Impairments under SFAS No. 121". International Advances in Economic Research 2(1).
- Riedl, E. J. (2004) "An Examination of Long-lived Assets Impairments". The Accounting Review 79(3).
- Zucca, L. and Campbell, D. (1992) "A Closer Look at Discretionary Write-downs of Impaired Assets". Accounting Horizons, September.
- Cited by
- ISSN
- 1642-168X
- Language
- eng
