Reevaluation of Revaluations: A Cross‐Country Examination of the Motives and Effects on Future Performance
基于35个允许资产重估的国家样本，检验重估动机及对未来业绩的影响，发现先前基于英澳的结论不适用于更广泛的国家，且动机与效果因国家分类而异。
Abstract: This study examines the motives for asset revaluations in a sample drawn from 35 countries that permit asset revaluations. Prior studies that examined this issue concentrated on one or two countries, the UK and Australia, and showed that revaluations are related to financing needs, the capital intensity of the firm as well as issues related to political costs. The previous literature also found that revaluations were indicators of improved future performance and that performance was related to the magnitude of the revaluations. This study shows that although the conclusions drawn from the previous studies are applicable to countries that are similar to the UK and Australia, they do not hold when applied to a much larger set of countries and that the motivations for and effects of revaluation are not uniform across various country classifications.