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The value relevance of corporate restructuring charges

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  • Bikki Jaggi
  • Beixin Lin
  • Suresh Govindaraj
  • Picheng Lee

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  • Bikki Jaggi & Beixin Lin & Suresh Govindaraj & Picheng Lee, 2009. "The value relevance of corporate restructuring charges," Review of Quantitative Finance and Accounting, Springer, vol. 32(2), pages 101-128, February.
    • Handle: RePEc:kap:rqfnac:v:32:y:2009:i:2:p:101-128
    DOI: 10.1007/s11156-008-0088-5
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    References listed on IDEAS

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    1. Strong, John S & Meyer, John R, 1987. "Asset Writedowns: Managerial Incentives and Security Returns," Journal of Finance, American Finance Association, vol. 42(3), pages 643-661, July.
    2. Easton, Pd & Harris, Ts, 1991. "Earnings As An Explanatory Variable For Returns," Journal of Accounting Research, Wiley Blackwell, vol. 29(1), pages 19-36.
    3. Lori Holder-Webb & Thomas Lopez & Philip Regier, 2005. "The Performance Consequences of Operational Restructurings," Review of Quantitative Finance and Accounting, Springer, vol. 25(4), pages 319-339, December.
    4. Brickley, James A. & Van Drunen, Leonard D., 1990. "Internal corporate restructuring : An empirical analysis," Journal of Accounting and Economics, Elsevier, vol. 12(1-3), pages 251-280, January.
    5. Fama, Eugene F. & French, Kenneth R., 1993. "Common risk factors in the returns on stocks and bonds," Journal of Financial Economics, Elsevier, vol. 33(1), pages 3-56, February.
    6. Berger, Philip G & Ofek, Eli, 1999. "Causes and Effects of Corporate Refocusing Programs," The Review of Financial Studies, Society for Financial Studies, vol. 12(2), pages 311-345.
    7. Roger Koenker & Kevin F. Hallock, 2001. "Quantile Regression," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 143-156, Fall.
    8. Warfield, Terry D. & Wild, John J. & Wild, Kenneth L., 1995. "Managerial ownership, accounting choices, and informativeness of earnings," Journal of Accounting and Economics, Elsevier, vol. 20(1), pages 61-91, July.
    9. Elliott, JA & Hanna, JD, 1996. "Repeated accounting write-offs and the information content of earnings," Journal of Accounting Research, Wiley Blackwell, vol. 34, pages 135-155.
    10. Poon, Percy S & Newbould, Gerald D & Durtschi, Cindy, 2001. "Market Reactions to Corporate Restructurings," Review of Quantitative Finance and Accounting, Springer, vol. 16(3), pages 269-290, May.
    11. Blackwell, David W. & Marr, M. Wayne & Spivey, Michael F., 1990. "Plant-closing decisions and the market value of the firm," Journal of Financial Economics, Elsevier, vol. 26(2), pages 277-288, August.
    12. Denis, David J. & Kruse, Timothy A., 2000. "Managerial discipline and corporate restructuring following performance declines," Journal of Financial Economics, Elsevier, vol. 55(3), pages 391-424, March.
    13. Black, Ervin L & Carnes, Thomas A & Richardson, Vernon J, 2000. "The Value Relevance of Multiple Occurrences of Nonrecurring Items," Review of Quantitative Finance and Accounting, Springer, vol. 15(4), pages 391-411, December.
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    Cited by:

    1. Mary Hill & Peter Johnson & Kelvin Liu & Thomas Lopez, 2015. "Operational restructurings: where’s the beef?," Review of Quantitative Finance and Accounting, Springer, vol. 45(4), pages 721-755, November.
    2. Yi-hsun Lai & Wen-chang Lin & Liang-wei Kuo, 2018. "Forestalling capital regulation or masking financial weakness? Evidence from loss reserve management in the property–liability insurance industry," Review of Quantitative Finance and Accounting, Springer, vol. 50(2), pages 481-518, February.
    3. Beixin Lin & Rong Yang, 2012. "Does Regulation Fair Disclosure affect analysts’ forecast performance? The case of restructuring firms," Review of Quantitative Finance and Accounting, Springer, vol. 38(4), pages 495-517, May.

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    More about this item

    Keywords

    Restructuring charges; Value relevance; Workforce reduction; Facilities closings; G1; G34; M4;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting

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