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

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

Author Info

Marc Feuilloley () (Université du Havre)
Patrick Sentis (Université Montpellier I et Groupe Sup de Co Montpellier)

Additional information is available for the following registered author(s):

Patrick Sentis

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.

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Article provided by Editions Economica in its journal Revue Finance Contrôle Stratégie.

Volume (Year): 10 (2007)
Issue (Month): 1 (March)
Pages: 95-124
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Handle: RePEc:dij:revfcs:v:10:y:2007:i:q1:p:95-124

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Find related papers by JEL classification:
M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies

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