Wealth Effects of Tax-Related Court Rulings.
研究三项关于无形资产税务摊销的法院裁决对企业的财富效应，发现最高法院支持摊销的裁决提升了拥有收购无形资产企业的股价，表明税务裁决影响企业价值。
Abstract This study analyzes the wealth effects of three court rulings relating to the amortization of intangible assets for tax purposes. Our results indicate that the Supreme Court's ruling in Newark Morning Ledger, in which the court ruled that the disputed intangible asset was depreciable for tax purposes, resulted in positive share price revisions for firms with acquired intangibles. Overall, this work provides evidence that tax-related court rulings have wealth effects for firms in a similar tax situation, and that tax benefits from intangible asset amortization influence equity values.