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A research on impairment of assets in listed firms with negative earnings in China


Economic factors, such as the adverse change of the industry and performance of firms, are associated with the impairment of assets reported by these firms. Listed firms with negative earnings were more likely to write off substantial assets in consecutive years, but not in the initial years of loss. However, the relationship between the impairment of assets and economic factors is insignificant after the individual effect of the firms is taken into consideration, while earnings management factors still have a significant effect on the impairment of assets, yet the difference between loss years and profitable years is insignificant.


亏损上市公司资产减值准备的计提, 在一定程度上反映了公司所在行业和公司自身经营环境的不利变化。 亏损上市公司进行巨额资产冲销, 更可能是在连续亏损期间, 而不是在首亏年度。 在考虑不同公司的个体效应后, 经济因素对亏损公司资产减值准备的计提并不具有显著影响, 但盈余맜理因素对此仍具有显著影响, 不过这种影响在亏损年度和盈利年度并不存在显著差异。


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Correspondence to Dai Deming.

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Translated from Caijing Yanjiu 财经研究 (Journal of Finance and Economics), 2005, (7): 71–82

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Dai, D., Mao, X. & Deng, F. A research on impairment of assets in listed firms with negative earnings in China. Front. Bus. Res. China 1, 351–364 (2007).

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