Fair Value Accounting, Earnings Management, and the Case of Bargain Purchase Gain
Fair Value Accounting, Earnings Management, and the Case of Bargain Purchase Gain
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公允价值会计、盈余管理以及廉价购买收益案例
DOI：
10.2139/ssrn.3167597
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发表时间：
2018
期刊：
影响因子：
--
通讯作者：
Yan Yan
中科院分区：
文献类型：
--
作者：
Steven B. Lilien;B. Sarath;Yan Yan
目的
Purpose
The purpose of this paper is to investigate the association between bargain purchase gains (BPGs) booked by the acquirer and smoothing of acquirers’ earning performance across time.
Design/methodology/approach
The authors use a sample of 122 bargain purchase acquisitions in non-financial industries from 2009 to 2012 and a pair-match control group of 122 goodwill acquisitions.
Findings
The authors find that BPGs, and in particular, the Level-3 fair value estimates of intangible assets acquired, have consistently been used to smooth earnings but that such smoothing activities are not associated with long-term market returns.
Originality/value
This study is the first one to investigate bargain purchase acquisitions in a broad range of non-financial industries and suggests that managers are using the valuation of intangibles to avoid unfavorable earnings even though these valuations are not credible to investors.
影响因子：
4.4
作者：
Mary E. Barth;John A. Elliott;Mark W. Finn
通讯作者：
Mary E. Barth;John A. Elliott;Mark W. Finn