Standard setters and many investors argue that loan fair values provide more useful information about credit losses than historical cost information while bankers and others generally disagree. We examine the ability of reported loan fair values to predict credit losses relative to the ability...

This study is the first to analyze the value relevance of goodwill impairment losses (GIL) in an international context; therefore, it builds a link between institutional, cultural, and religious factors and cross-country variations in the relevance of GIL. Using a sample of 18,143 firm-year...

Due to the concerns about the annual SFAS 142 impairment test, the FASB has recently added a project to its technical agenda to evaluate potential alternatives for measurement of goodwill. Motivated by the FASB's consideration of a change in goodwill accounting, I examine the impact of SFAS 142...