standards for business combinations IFRS 3 and SFAS 141. The purchase price must be allocated to identifiable assets acquired … and liabilities assumed with the residual amount recognized as goodwill. This purchase price allocation requires the … opportunistically or efficiently uses the discretion to initially recognize goodwill. Our empirical study is based on hand-collected and …

Prior research provides evidence that managers delay the reporting of goodwill impairments. This study builds on this … evidence by investigating whether managers use their private information regarding goodwill impairments to profit from trading … preceding formal announcement of goodwill impairments. In addition, we find that managers' selling activity is positively …

This paper investigates how fair value reporting and increased managerial discretion under the new goodwill accounting … financial reporting for firms with purchased goodwill has become more conservative after the enactment of the new standard …. However, once we control for an increase in conservatism that is not attributable to new goodwill accounting, we find that …