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Pertinence économique de la comptabilisation des dépréciations de goodwill:le cas français

Author

Listed:
  • Marc Feuilloley

    (Université du Havre)

  • Patrick Sentis

    (Université Montpellier I et Groupe Sup de Co Montpellier)

Abstract

(VF)Cet article propose de mesurer la pertinence économique de la comptabilisation des dépréciations du goodwill. Pour cela, la réaction du marché français à l’annonce de 75 dépréciations de goodwill sur la période 2000-2004 est examinée. L’annonce de ces dépréciations provoque un impact significativement négatif sur la valeur des entreprises, confirmant l’effet économique de cet enregistrement comptable. Les rentabilités à long terme sont étudiées sur une fenêtre de 500 jours avant la date d’annonce de la dépréciation jusqu’à 750 jours après. Globalement, les résultats significatifs obtenus autour de la date d’événement des dépréciations confortent la pertinence économique de la norme IFRS 3.(VA)This paper examines whether goodwill write-off accounting is consistent with market valuations. To achieve this goal, we measure the impact of 75 goodwill write-off announcements on French companies’ stock price. Goodwill write-off announcements produce a negative impact on companies’ stock prices and suggest an economic effect of this accounting policy. The negative long-term abnormal returns during the pre-announcement period (day -500) suggest that the market anticipates the depreciation of goodwill. Globally, the significant results around the date of announcement confirm the consistency of IFRS 3 with market valuations.

Suggested Citation

  • Marc Feuilloley & Patrick Sentis, 2007. "Pertinence économique de la comptabilisation des dépréciations de goodwill:le cas français," Revue Finance Contrôle Stratégie, revues.org, vol. 10(1), pages 95-124, March.
    • Handle: RePEc:dij:revfcs:v:10:y:2007:i:q1:p:95-124
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    Cited by:

    1. Gaëlle Lenormand & Lionel Touchais, 2017. "The Financial Analysts' Forecasts And The Intangible: Do The Ias/Ifrs Lead To An Improvement? [Les Previsions Des Analystes Financiers Et Les Incorporels : Les Ias/Ifrs Apportent-Elles Une Ameliora," Post-Print hal-03125440, HAL.
    2. Inès Bouden & Luc Paugam & Olivier J. Ramond, 2011. "Les déterminants de la dépréciation du goodwill : proposition d'un cadre d'analyse," Post-Print hal-00646810, HAL.
    3. Côme Segrétain, 2011. "Écarts d'acquisition, résultats résiduels consécutifs et surprix," Post-Print hal-00650581, HAL.
    4. Gaëlle Lenormand & Lionel Touchais, 2008. "The Value Relevance Of Intangible Assets With Ifrs [La Pertinence Des Actifs Incorporels Avec Les Ifrs]," Post-Print hal-03125514, HAL.
    5. Lionel Touchais, 2008. "La problématique du goodwill. Quelles évolutions et pour quels résultats ?," Post-Print hal-03125504, HAL.
    6. Côme Segrétain & Denis Cormier, 2014. "Pertinence Du Goodwill Acquis Au Regard Des Resultats Residuels Nets Et Additionnels : Relation Theorique Et Etude Empirique Sur Le Marche Francais," Post-Print hal-01899436, HAL.

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    More about this item

    Keywords

    Goodwill; dépréciation; IFRS 3; regroupement d’entreprises; étude d’événements; impairment test; business combination; event study.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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