Asset Write‐downs: Evidence from 2001–2008

Accounting for asset write‐downs has received substantial media attention throughout the Global Financial Crisis and has been the subject of academic debate and numerous accounting regulations during the past three decades. This study provides evidence of the magnitude and frequency of quarterly asset write‐down activities for a sample of US firms between 2001 and 2008 and examines whether reported asset write‐downs mirror market and economic indicators during the sample period.