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

237 NTU Management Review Vol. 29 No. 1 Apr. 2019 Table 9 Results of Assets Impairment Recognized in Earnings Informativeness --- Reversals Subsamples Examination 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 Non-reversals vs. Non-impairment Reversals vs. Non-impairment Reversals vs. Non-reversals Variables β β ( t -value) β ( t -value) β ( t -value) Constant β 0 -1.285 b (-2.57) -1.354 b (-1.99) -2.822 (-0.89) X t-1 β 1 /--- -0.832 a (-7.38) -0.829 a (-7.27) --- X t β 2 /--- 1.377 a (8.31) 1.433 a (7.99) --- X t3 β 3 /--- 0.385 a (6.07) 0.415 a (6.09) --- R t3 β 4 /--- -0.117 b (-2.28) -0.113 b (-2.18) --- IM t β 5 / β 1 -0.673 (-0.79) 2.590 (0.38) -0.981 (-0.61) IM t *X t-1 β 6 / β 2 7.181 a (2.64) -2.862 (-0.12) -10.573 b (-2.06) IM t *X t β 7 / β 3 -11.055 a (-4.70) 29.782 (0.96) 11.311 (1.06) IM t *X t3 β 8 / β 4 2.696 a (3.13) -12.965 (-1.30) 10.959 b (2.06) IM t *R t3 β 9 / β 5 -0.451 (-0.43) 0.424 (0.19) -1.676 b (-2.15) REV t ---/ β 6 0.232 c (1.68) REV t *IM t *X t-1 ---/ β 7 3.673 (0.08) REV t *IM t *X t ---/ β 8 26.449 (0.95) REV t *IM t *X t3 ---/ β 9 -32.948 b (-2.35) REV t *IM t *R t3 ---/ β 10 2.024 (0.51)