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

Earnings Informativeness of Long-Lived Assets Impairment Recognized and Reversals 244 Table 11 The Results of Assets Impairment Recognized and Reversals in Earnings Informativeness---Voluntarily Early Adoption and Global Financial Crisis Consideration 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 2005-2010 2005-2010 (Exclude 2008) Model IM model REV model IM model REV model Variables β β ( t -value) β ( t -value) β ( t -value) β ( t -value) Constant β 0 -1.548 c (-1.78) -1.539 c (-1.77) -1.369 (-1.29) -1.385 (-1.30) X t-1 β 1 -0.845 a (-8.91) -0.843 a (-8.72) -0.892 a (-8.34) -0.891 a (-8.30) X t β 2 1.508 a (8.95) 1.508 a (8.93) 1.621 a (12.50) 1.616 a (12.61) X t3 β 3 0.429 a (8.49) 0.429 a (8.34) 0.446 a (6.21) 0.447 a (6.11) R t3 β 4 -0.151 b (-2.23) -0.150 b (-2.21) -0.166 c (-1.93) -0.166 c (-1.92) IM t β 5 -1.012 (-1.10) -1.211 (-1.33) -1.393 (-1.63) -1.274 (-1.60) IM t *X t-1 β 6 6.767 b (2.38) 7.079 b (2.51) 7.451 a (3.08) 6.927 a (2.92) IM t *X t β 7 -12.022 a (-3.30) -14.267 a (-4.08) -13.650 b (-2.32) -14.412 a (-2.61) IM t *X t3 β 8 2.128 (1.45) 3.073 c (1.84) 3.469 c (1.71) 4.290 b (2.45) IM t *R t3 β 9 -0.171 (-0.14) -0.511 (-0.38) -0.378 (-0.19) -0.656 (-0.35) REV t ---/β 10 0.126 (2.13) 0.133 c (1.73) REV t *IM t *X t-1 ---/β 11 -11.322 (-0.44) 0.018 (0.00) REV t *IM t *X t ---/β 12 37.833 c (1.69) 51.973 a (2.71) REV t *IM t *X t3 ---/β 13 -15.536 (-1.44) -24.922 c (-1.78) REV t *IM t *R t3 ---/β 14 1.319 (0.93) 12.445 a (6.75)