Goodwill Impairment and Future Cash Flows
- 2019年第12卷 
【中文摘要】公允价值的运用是否有助于提高会计信息的决策有用性一直存在争议，本文利用商誉减值与未来现金流之间的关系从预测价值视角对该问题进行实证检验。研究发现，商誉减值金额与未来现金流呈显著负相关关系，该研究结论在进行一系列的检验后依然成立。进一步研究表明，商誉减值与未来现金流之间的关系在无形资产规模更小、非大洗澡动机和非盈余平滑动机的样本中 更为显著。本文的研究结论对于资产减值准则的进一步修订和完善有一定的参考价值。 【Abstract】It is hotly debated whether fair value accounting can improve the usefulness of accounting information in decision making. This paper provides additional evidence on the usefulness of fair value accounting by empirically testing the relation between goodwill impairment and future cash flows. We find that goodwill impairment is negatively related to future cash flows. This relation is robust to a series of additional tests. We further show that the negative relation between goodwill impairment and future cash flows is more pronounced in the sample of firms that have low intangible assets values，and in the sample of firms that do not appear to have motives to engage in big baths or earnings surplus smoothing. Our results may help to improve or further revise the rules related to asset impairment.