資產減損與系統風險

財務會計準則公報第三十五號「資產減損之會計處理準則」（簡稱35號公報）係規範長期性資產基於非經常基礎進行之價值變動處理。資產依據可回收金額進行之價值減少與增加之認列，雖為價值攸關資訊之反映，然而，估計產生之衡量偏誤則降低資訊可靠性。當經過減損資訊攸關性與可靠性作用之後，是否對投資人具有決策有用性並降低系統風險，為本文探討問題。本文以2005年至2011年上市公司於35號公報實施後之系統風險變動進行比較，實證結果發現：（1）資產減損事件於35號公報實施後的系統風險高於未減損事件；（2）在損失事件控制下，迴轉利益事件皆較未減損事件具有較高之系統風險，迴轉利益金額亦有同樣反應；（3）在有形資產減損事件控制下，無形資產減損事件之系統風險並未有不同於未減損事件，而無形資產減損金額亦是。

關鍵字

資產減損；價值變動；系統風險

並列摘要

Taiwan's Statement of Financial Accounting Standards (TSFAS) No. 35, Accounting for Impairment of Assets, prescribes accounting for changes in value of long-lived assets on a nonrecurring basis, thus, reflecting value relevance of changes in value estimates at recoverable amounts. However, measurement bias arising from value estimates reduces information reliability. This study examines listed firms over the period from 2005 to 2011 in order to determine whether trade-offs between the relevance and reliability of value information over long-lived assets affect changes in a firm's systematic risk during the TSFAS No. 35 regime. Empirical results indicate the following: (1) There is a greater difference in systematic risk in cases with asset impairment than in cases without impairment. (2) After controlling for impairment losses, systematic risk with loss reversals exceeds that of cases without impairment. Similar results are found in the amount of loss reversals. (3) After controlling for the impairment of tangible assets, systematic risk associated with impairment in intangible assets does not differ from cases without such impairment. Similar results are found in the amount of impairment to intangible assets.