Article1997

A Description and Market Analysis of Write‐off Announcements

42 citations0/0 files storedJournal of Business Finance &amp Accounting

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Auditing, Earnings Management, Governance Financial Markets and Investment Strategies Financial Analysis and Corporate Governance

Abstract

This paper examines the stock market reaction to write‐off announcements. The increasing prevalence of write‐offs over the last decade has lead the Financial Accounting Standards Board to issue new guidelines on the accounting for write‐offs, and there has been much discussion about the stock market reaction to these types of announcements. By focusing on the expected cash flow implications of the different types of write‐off announcements, this paper documents that the stock price reaction to write‐off announcements is associated with the expected cash flow implications of the events surrounding the write‐off.

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