Restructuring Charges, FAS 146, and the Accrual Anomaly

References

• Bens D, Johnston R (2009) Accounting discretion: Use or abuse? An analysis of restructuring charges surrounding regulator action. Contemporary Accounting Res. 26(3):673–699.Crossref, Google Scholar
• Berkshire Hathaway (1998) Annual Report 1998. Berkshire Hathaway, Omaha, NE. http://www.berkshirehathaway.com/1998ar/1998ar.pdf.Google Scholar
• Brav A, Geczy C, Gompers P (2000) Is the abnormal return following equity issuances anomalous? J. Financial Econom. 56(2):209–249.Crossref, Google Scholar
• Collins DW, Hribar P (2000) Earnings-based and accrual-based market anomalies: One effect or two? J. Accounting Econom. 29(1):101–123.Crossref, Google Scholar
• Dechow P, Ge W (2006) The persistence of earnings and cash flows and the role of special items: Implications for the accrual anomaly. Rev. Accounting Stud. 11(2):253–296.Crossref, Google Scholar
• Desai H, Rajgopal S, Venkatchalam M (2004) Value-glamour and accruals mis-pricing: One anomaly or two? Accounting Rev. 79(2):355–385.Crossref, Google Scholar
• Fairfield P, Whisenant JS, Yohn TL (2003) Accrued earnings and growth implications for future profitability and market mispricing. Accounting Rev. 78(1):353–371.Crossref, Google Scholar
• Fama EF (1998) Market efficiency, long-term returns, and behavioral finance. J. Financial Econom. 49(3):283–306.Crossref, Google Scholar
• FASB (Financial Accounting Standards Board) (1994) Emerging Issues Task Force (EITF) Issue 94-3. Liability recognition for certain employee termination benefits and other costs to exit an activity (including Certain Costs Incurred in a Restructuring). FASB, Norwalk, CT.Google Scholar
• FASB (Financial Accounting Standards Board) (2002) Statement of Financial Accounting Standards No. 146 (FAS 146): Accounting for costs associated with exit or disposal activities. FASB, Norwalk, CT.Google Scholar
• Fischer PE, Verrecchia RE (2000) Reporting bias. Accounting Rev. 75(2):229–245.Crossref, Google Scholar
• Green J, Hand JRM, Soliman MT (2011) Going, going, gone? The apparent demise of the accruals anomaly. Management Sci. 57(5):797–816.Link, Google Scholar
• Gu Z, Chen T (2004) Analysts’ treatment of nonrecurring items in street earnings. J. Accounting Econom. 38(1):129–170.Crossref, Google Scholar
• Hirshleifer D, Teoh SH (2003) Limited attention, information disclosure and financial reporting. J. Accounting Econom. 36(1–3):337–386.Crossref, Google Scholar
• Kraft A, Leone AJ, Wasley CE (2007) Regression-based tests of the market pricing of accounting numbers: The Mishkin test and ordinary least squares. J. Accounting Res. 45(5):1081–1114.Crossref, Google Scholar
• Lee YG (2014) An examination of restructuring charges surrounding the implementation of SFAS 146. Rev. Accounting Stud. 19(2):539–572.Crossref, Google Scholar
• Levitt A (1998) The numbers game. Speech delivered at the New York University Center for Law and Business, New York, September 28.Google Scholar
• Loughran T, Ritter JR (2000) Uniformly least powerful tests of market efficiency. J. Financial Econom. 55(3):361–389.Crossref, Google Scholar
• Mishkin F (1983) A Rational Expectations Approach to Macroeconometrics: Testing Policy Effectiveness and Efficient Markets Models (University of Chicago Press for the National Bureau of Economic Research, Chicago).Crossref, Google Scholar
• Moehrle SR (2002) Do firms use restructuring charge reversals to meet earnings targets? Accounting Rev. 77(2):397–413.Crossref, Google Scholar
• Mohanram PS (2014) Analysts’ cash flow forecasts and the decline of the accrual anomaly? Contemporary Accounting Res. 31(4):1143–1170.Crossref, Google Scholar
• Richardson SA, Sloan RG, Soliman MT, Tuna I (2005) Accrual reliability, earnings persistence and stock prices. J. Accounting Econom. 39(3):437–485.Crossref, Google Scholar
• Sloan RG (1996) Do stock prices fully reflect information in accruals and cash flows about future earnings? Accounting Rev. 71(3):298–315.Google Scholar
• Stickney C, Brown P (1998) Financial Reporting and Statement Analysis: A Strategic Approach, 4th ed. (South-Western College Publication, Cincinnati).Google Scholar
• Thomas J, Zhang H (2002) Inventory changes and future returns. Rev. Accounting Stud. 7:163–187.Crossref, Google Scholar
• Xie H (2001) The mispricing of abnormal accruals. Accounting Rev. 76(3):357–373.Crossref, Google Scholar