A Description and Market Analysis of Write‐off Announcements

Howard Bunsis

Journal of Business Finance & Accounting, 1997, vol. 24, issue 9‐10, 1385-1400

Abstract: This paper examines the stock market reaction to write‐off announcements. The increasing prevalence of write‐offs over the last decade has lead the Financial Accounting Standards Board to issue new guidelines on the accounting for write‐offs, and there has been much discussion about the stock market reaction to these types of announcements. By focusing on the expected cash flow implications of the different types of write‐off announcements, this paper documents that the stock price reaction to write‐off announcements is associated with the expected cash flow implications of the events surrounding the write‐off.

Date: 1997
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