... leverage Acquisitions and mergers Earnings management It is evident that firms tend to revalue their fixed assets (Cotter and Zimmer, 2003 ; Missonier‐Piera, 2007). The incentives for fixed asset revaluation differ from firm to firm. It is argued that opportunism may in certain cases drive...

...‐2004. This result is consistent with findings in other countries but has not been found in prior Australian research. Alex Proimos can be contacted at: aproimos@efs.mq.edu.au © Emerald Group Publishing Limited 2008 Operations management Acquisitions and mergers Cash flow Australia...