Articlebronze2006

Is older goodwill value relevant?

75 citations0/0 files storedAccounting and Finance

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Auditing, Earnings Management, Governance Accounting Theory and Financial Reporting Financial Reporting and Valuation Research

Abstract

Abstract Although previous research has generally found that goodwill reported in firms’ financial reports is relevant to equity valuation, no known studies have directly examined whether the value‐relevance of purchased goodwill holds as it ages. We examine this issue in the Australian context to determine whether the market attaches different values to the components of Australian firms’ goodwill when it is disaggregated into different ‘ages’. Our results suggest that recently acquired goodwill has information content whereas ‘older’ goodwill does not. Our findings have implications for goodwill accounting practice and recent changes to goodwill accounting standards.

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References

1995Earnings, Book Values, and Dividends in Equity Valuation*2001The relevance of the value relevance literature for financial accounting standard setting: another view 2001The relevance of the value-relevance literature for financial accounting standard setting 1992The Post-Merger Performance of Acquiring Firms: A Re-Examination of an Anomaly 1993A Comparison of the Value-Relevance of U.S. Versus Non-U.S. GAAP Accounting Measures Using Form 20-F Reconciliations 2002Perspectives on Recent Capital Market Research 1996International Accounting Differences and Their Relation to Share Prices: Evidence from U.K., Australian, and Canadian Firms*1997An Examination of the Long Run Performance of UK Acquiring Firms

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2010How Do Firms Implement Impairment Tests of Goodwill?2014Goodwill under IFRS: Relevance and disclosures in an unfavorable environment 2021Empirical Goodwill Research: Insights, Issues, and Implications for Standard Setting and Future Research 2023Value Relevance Research in Accounting and Reporting Domains: A Bibliometric Analysis 2014

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