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Author: Paul Pacter
Publisher: Financial Accounting Standards Boar Foundation
ISBN:
Category : Business & Economics
Languages : en
Pages : 452
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Book Description
Author: Paul Pacter
Publisher: Financial Accounting Standards Boar Foundation
ISBN:
Category : Business & Economics
Languages : en
Pages : 452
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 47
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Book Description
Author:
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 47
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Book Description
Author: Financial Accounting Standards Board
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 43
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Book Description
Author: Financial Accounting Standards Board
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 47
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Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 43
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Book Description
Author: Financial Accounting Standards Board
Publisher:
ISBN:
Category :
Languages : en
Pages : 43
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Book Description
Author: Kingsley O. Olibe
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
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Book Description
Statement of Financial Accounting Standard No. 131 issued in 1997, regulates the reporting of geographic segment information by U.S. firms SFAS. 131: Reporting Disaggregated Information about a Business Enterprise and Related Information supersedes previous segment-reporting rules of SFAS No.14 (FASB 1976). SFAS No. 131 requires firms to disclose segment data in their annual reports for each material category of foreign involvement. Through these provisions SFAS 131 increased the scope for geographic segment information. We examine the value relevance of SFAS 131 by testing investors' responses to asset components disclosed under SFAS 131 and the explanatory power of foreign and U.S. assets. First, we find, as predicted that both foreign and domestic assets of U.S. multinationals are significantly positively correlated with changes in market value of common equity, even after we control for other identified determinants of share price. Second, we find that foreign assets, equity book value and U.S. assets explanatory power vary predictably across different specifications. The observed changes in share price sensitivity are consistent with SFAS No. 131 disclosures providing useful information to investors. Overall, our results suggest investors' greater recognition and processing of asset components after the change in geographic segment reporting.
Author: Philip G. Berger
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Recent studies provide evidence that the new segment reporting rule, SFAS 131, induced companies to provide more disaggregated segment information. We use adoption of the new standard to identify firms that aggregated segment information under the old standard, SFAS 14, and examine two motives for managers to aggregate segment information. First, withholding proprietary information and, second, avoiding external scrutiny from the market for corporate control. We find firms that increased their segment disclosure on adoption of SFAS 131 (i.e., firms that aggregated segment data under SFAS 14) had higher abnormal profitability and operations with more divergent performance. We do not, however, find a significant decline in abnormal profits for these firms after SFAS 131, suggesting their concerns that more disaggregated reporting would result in competitive harm were unwarranted. We also document a negative association between aggregating segment information and the probability of takeover activities in the pre-SFAS 131 period. Firms that are forced to provide more disaggregated information under the new standard face a higher takeover likelihood in the post-SFAS 131 period. These results suggest that the more disaggregated disclosure generated by the new standard facilitates the market for corporate control.
Author:
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 68
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Book Description
