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- Title
Fixed Asset Revaluations and Managerial Incentives.
- Authors
Brown, Philip; Izan, H. Y.; Loh, Alfred L.
- Abstract
The study attempts to explain why Australian companies revalue their fixed assets, when a revaluation, <em>by itself</em>, has no discernible direct effect on cash flows and is costly to carry out. A revaluation is hypothesised to affect contracting and political costs. It may also help resolve problems associated with information asymmetries, or be used to signal information to investors. The results support the proposition that economic forces help explain the decision to revalue assets.
- Subjects
AUSTRALIA; CAPITAL; CASH flow; LABOR incentives; INVESTORS
- Publication
Abacus, 1992, Vol 28, Issue 1, p36
- ISSN
0001-3072
- Publication type
Article
- DOI
10.1111/j.1467-6281.1992.tb00268.x