臺大管理論叢 NTU Management Review VOL.29 NO.1

225 NTU Management Review Vol. 29 No. 1 Apr. 2019 Table 5 Results of Assets Impairment Recognized and Reversals in Earnings Informativeness R t = β 0 + β 1 X t-1 + β 2 X t + β 3 X t3 + β 4 R t3 + β 5 IM t + β 6 IM t *X t-1 + β 7 IM t *X t + β 8 IM t *X t3 + β 9 IM t *R t3 + β 10 LEV t + β 11 MB t + β 12 SIZE t + ε t R t = β 0 + β 1 X t-1 + β 2 X t + β 3 X t3 + β 4 R t3 + β 5 IM t + β 6 IM t *X t-1 + β 7 IM t *X t + β 8 IM t *X t3 + β 9 IM t *R t3 + β 10 REV t + β 11 REV t *IM t *X t-1 + β 12 REV t *IM t *X t + β 13 REV t *IM t *X t3 + β 14 REV t *IM t *R t3 + β 15 LEV t + β 16 MB t + β 17 SIZE t + ε t Model IM model REV model Variables β β ( t -value) β ( t -value) Constant β 0 -1.282 b (-2.47) -1.273 b (-2.47) X t-1 β 1 -0.844 a (-7.59) -0.841 a (-7.52) X t β 2 1.386 a (8.45) 1.382 a (8.37) X t3 β 3 0.387 a (6.21) 0.388 a (6.14) R t3 β 4 -0.119 b (-2.36) -0.118 b (-2.34) IM t β 5 -0.644 (-0.71) -0.780 (-0.86) IM t *X t-1 β 6 7.393 b (2.29) 7.357 a (2.72) IM t *X t β 7 -10.060 a (-5.07) -11.350 a (-4.79) IM t *X t3 β 8 2.041 b (2.23) 2.871 a (3.07) IM t *R t3 β 9 -0.182 (-0.18) -0.484 (-0.47) REV t ---/β 10 0.110 (1.52) REV t *IM t *X t-1 ---/β 11 -10.940 (-0.44) REV t *IM t *X t ---/β 12 35.498 c (1.67) REV t *IM t *X t3 ---/β 13 -16.300 (-1.53) REV t *IM t *R t3 ---/β 14 1.150 (0.85) LEV t β 10 /β 15 -0.499 b (-2.13) -0.496 b (-2.14)