Earnings Management Using Asset Sales: An International Study of Countries Allowing Noncurrent Asset Revaluation
研究澳大利亚/新西兰和英国允许资产重估的公司是否通过出售资产来平滑利润，发现重估公司在FRS 3实施后不再使用此手段，而非重估公司仍存在盈余管理行为。
Bartov (1993) demonstrates that US firms time asset sales to smooth income and affect debt/equity relationships. This study examines earnings management behavior through asset sales in countries that allow asset revaluation: Australia/New Zealand (ANZ) and the United Kingdom (UK). Earnings management behavior differs across these two country groups when their accounting rules differed prior to 1993, but is similar during the 1993–95 period when the UK implemented FRS 3 . The results also find that revaluer companies do not use asset sales to smooth income in ANZ nor in the UK after FRS 3 was implemented in 1993. UK revaluers (prior to FRS 3 ) and both countries’ non‐revaluers sell assets consistent with income smoothing.