Lin, Y.C.; Peasnell, Ken V. - In: Journal of Business Finance & Accounting 27 (2000-05) 3&4, pp. 359-394
UK GAAP has traditionally allowed the write-off of purchased goodwill directly to reserves, resulting in the widespread depletion of book equity. Companies have also been permitted to revalue fixed assets at management's discretion. This study examines whether upward revaluations have been...