Evidence on the Incremental Information Contained in the Components of Restructuring Charges
评估重组费用的组成部分是否比总费用提供更多信息，发现分解后的信息对分析师有用，其中存货减值和员工遣散被视为最负面信号。
Among the new disclosures required by EITF 94–3 is the requirement that firms disclose the nature and amounts of the material components of a restructuring charge. The objective of this paper is to assess whether these components provide information to financial statement users beyond that contained in the aggregate charge. The evidence is consistent with the decomposition of the charge providing incremental information that would be lost if only the aggregate number is reported. The results also appear to suggest that analysts interpret restructurings as bad news and that inventory writedowns and employee terminations are interpreted as the most negative restructuring components.