An Investigation of Asset Write-Downs and Concurrent Abnormal Accruals
研究确认永久性资产减值的公司是否在减值当年通过异常应计项目操纵盈余，并探讨管理者是否利用裁量权向投资者传递价值相关信号。
This study investigates abnormal accruals of firms recognizing permanent asset impairments in their financial statements to assess whether firms systematically manage earnings in the year of the write-down. Anecdotal evidence in the popular press (e.g., Linden [1990], Grover [1992], and Smith and Lipin [1994]) and existing academic research (e.g., Kinney and Trezevant [1995] and Zucca and Campbell [1992]) suggest that firms use their discretion over asset write-downs to manage earnings. Unlike most prior studies, we do not equate earnings management with opportunistic behavior. Instead, we consider the possibility that managers use their discretion to provide value-relevant signals to investors. In addition, our focus is on abnormal accruals taken concurrently with asset write-downs. If the primary motive for an asset write-down is opportunistic earnings management, firms may also exercise their discretion over operating accruals. Although the authoritative accounting literature is specific regarding the appropriate treatment of declines in the value of short-term assets