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Asset Write‐Offs—Managerial Incentives and Macroeconomic Factors

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  • Alfred Lye Chye Loh
  • Tin Hoe Tan

Abstract

The objective of this study is to explain what firm‐specific and macroeconomic factors are likely to influence the asset write‐off decision in Singapore, where upward revaluations, unlike in the U.S., are also permitted. The focus is on write‐offs relating to two main asset categories, namely, fixed assets and long‐term investments. Data on seventy‐eight firms listed on the Stock Exchange of Singapore Mainboard were collected from 1983 to 1997. Results of cross‐sectional and time‐series analyses identify relevant macroeconomic factors to be unemployment rate, GDP growth rate and occupancy rate of properties, and firm‐specific factors to be profitability and a change of board chairman.

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  • Alfred Lye Chye Loh & Tin Hoe Tan, 2002. "Asset Write‐Offs—Managerial Incentives and Macroeconomic Factors," Abacus, Accounting Foundation, University of Sydney, vol. 38(1), pages 134-151, February.
    • Handle: RePEc:bla:abacus:v:38:y:2002:i:1:p:134-151
    DOI: 10.1111/1467-6281.00101
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    Cited by:

    1. Yao, Dai Fei (Troy) & Percy, Majella & Hu, Fang, 2015. "Fair value accounting for non-current assets and audit fees: Evidence from Australian companies," Journal of Contemporary Accounting and Economics, Elsevier, vol. 11(1), pages 31-45.
    2. Hong, Philip K. & Paik, Daniel Gyung & Smith, Joyce Van Der Laan, 2018. "A study of long-lived asset impairment under U.S. GAAP and IFRS within the U.S. institutional environment," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 31(C), pages 74-89.
    3. Pimpana Peetathawatchai & Kittima Acaranupong, 2012. "Are impairment indicators and losses associated in Thailand?," Journal of Financial Reporting and Accounting, Emerald Group Publishing Limited, vol. 10(1), pages 95-114, June.
    4. Giampaolo Arachi & Valeria Bucci, 2013. "Do taxes affect firmsÕ asset write-downs? Evidence from discretionary write-downs of equity investments in Italy," Working Papers EC0002, University of Salento; Department of Management, Economics, Mathematics and Statistics, revised Dec 2013.
    5. Kabir, Humayun & Rahman, Asheq, 2016. "The role of corporate governance in accounting discretion under IFRS: Goodwill impairment in Australia," Journal of Contemporary Accounting and Economics, Elsevier, vol. 12(3), pages 290-308.

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