Ferraz, Duarte PittaLopes, Ilídio TomásHerold, Marius2018-01-162018-06-302017-06-30http://hdl.handle.net/10362/28305During numerous acquisitions, the GW positions of German DAX 30 companies have enormously risen. However, this increase cannot solely be attributed to the pure number of company takeovers but also to the introduction of IAS 36 – Impairment of Assets. On adopting IAS 36 in 2004, GW is no longer amortised but subject to an annual impairment-test. Since then, companies consider their GW positions more and more as recoverable. Although IAS 36 contains detailed regulations, many appreciation margins as well as external influences affect the GW impairment-test. Accordingly, external factors such as the low-interest policy of the ECB can be associated with GW positions and GW write-offs. This paper uses a quantitative research design and investigates the effects of the low-interest policy of the ECB on GW positions and its influence on the GW impairment-test in accordance with IAS 36 of the German DAX 30 companies. Using a sample of 24 DAX 30-listed companies over a period of 12 years, this paper shows that there is a relation between the low-interest policy of the ECB on GW positions and on GW write-offs. The negative downtrend of the KIR set by the ECB is hindering GW impairments and therefore encourages the increase in GW positions of the German DAX 30 companiesengGoodwillGoodwill impairmentAccountingIAS36ECB-policymaster thesis201752727