This paper examines the value relevance of goodwill impairment and the information content of impairment announcements with the introduction of Financial Reporting Standard (FRS) 11 in the UK in 1998 which allowed an annual impairment review as an alternative to capitalisation and subsequent...

The paper analyzes the earnings forecasts issued by bidders' executives in the biggest deals announced on the New York Stock Exchange in the years 1998-2001. It explores the role of the forecasts as an information source for investors at the time of the bid announcement. We investigate the...

This paper explores some consequences for economic efficiency of creative accounting practices by merging companies. It assumes semi-strong information efficiency in the markets for capital and for corporate control; and/or the use of executive contracts relating pay to accounting profit. Ahead...

Earnings management by acquirers ahead of share for share bids may affect whether a bid succeeds, and hence which management team controls the target's assets, as well as the distribution of gains between target and acquirer shareholders. This paper tests for such earnings management for the UK,...

This paper analyses a problem at the intersection of accounting, law and economics: the economically efficient operation of legal arangements for company failure is undermined because valuations of assets and liabilities become unstable once a firm is distressed. The paper draws on the three...