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Agerar Företagsledare Opportunistiskt vid Köpeskillingsallokering: Bevis från Svenska Rörelseförvärv
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies.
2014 (Swedish)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [sv]

SammandragGoodwill har de senaste åren fått en allt mer betydelsefull roll i svenska bolag och utgör idag majoriteten av köpeskillingen vid ett rörelseförvärv. Rådande redovisningsstandarder lämnar en stor del av ansvaret för köpeskillingsallokering hos bolagen själva, något som tidigare studier visat ger utrymme för opportunistiskt agerande. Vi undersöker i denna studie 213 rörelseförvärv gjorda på den svenska marknaden under åren 2011-2013. Via en multipel regressionsanalys finner vi belägg för att rörlig ersättning till företagsledare baserad på kortsiktiga resultatmål, tenderar att leda till en högre allokering till goodwill i relation till immateriella tillgångar vid rörelseförvärv. Resultatet kan tolkas som att företagsledare maximerar resultatet ur ett kortsiktigt perspektiv i syfte att också maximera sin egen lön. Detta skapar en problematik då företagsledare som agerar i egenintresse försvagar de kvalitativa karaktäristika IASB efterstävar vid standardsättande.

Abstract [en]

Abstract

Goodwill has over the last years gained a more influential role in Swedish corporations and accounts for a majority of the purchase price during an acquisition. Current accounting standards leave a substantial part of the responsibility of the purchase price allocation to the firms themselves, something that previous studies have found gives room for opportunistic behavior. We study 213 company acquisitions on the Swedish market during the years of 2011-2013. Through a multiple regression analysis we find that short-term compensations based on short-term financial results, tend to lead to a higher allocation to goodwill in relation to intangible assets. These findings could be interpreted as an indication of executives striving to maximize short-term results in order to also maximize their compensation. This creates a problematic situation since executives acting in self-interest diminishes the qualitative characteristics IASB endeavor when setting accounting standards.

Place, publisher, year, edition, pages
2014. , 37 p.
Keyword [en]
Business Combinations, Purchase Price Allocation, Goodwill, Positive Accounting Theory, Bonus
Keyword [sv]
Rörelseförvärv, Köpeskillingsallokering, Goodwill, Positive Accounting Theory, Bonus
National Category
Business Administration
Identifiers
URN: urn:nbn:se:uu:diva-227090OAI: oai:DiVA.org:uu-227090DiVA: diva2:728298
Subject / course
Business Studies
Educational program
Master Programme in Accounting, Auditing and Analysis
Supervisors
Available from: 2014-06-27 Created: 2014-06-24 Last updated: 2014-06-27Bibliographically approved

Open Access in DiVA

AGERAR FÖRETAGSLEDARE OPPORTUNISTISKT VID KÖPESKILLINGSALLOKERING? - BEVIS FRÅN SVENSKA RÖRELSEFÖRVÄRV(1282 kB)140 downloads
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CiteExportLink to record
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  • apa
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