(VF)Dans cet article, nous avançons que les dirigeants, soucieux de maximiser la richesse des actionnaires, manipulent l'information comptable afin de transférer de la richesse de certaines parties prenantes vers les actionnaires. En particulier, la divulgation d'une image de situation financière différente de l'image fidèle permet aux dirigeants d'optimiser les bénéfices futurs, grâce à une réduction des coûts fiscaux, sociaux, et financiers et à une maximisation des revenus futurs.(VA) In this article, we argue that managers, following an objective of maximizing shareholders' wealth, manipulate accounting information to transfer wealth from other stakeholders to the benefit of shareholders. In particular, not presenting a true and fair view of the financial situation of the firm allows the managers to optimizing the future benefits through a reduction of fiscal, social and financing costs and a maximization of the future incomes.
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Paper provided by Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance) in its series Working Papers FARGO with number
1030104.
Length: 14 pages Date of creation: Jan 2003 Date of revision: Publication status: Published in La revue du financier, 2003, février. Handle: RePEc:dij:wpfarg:1030104
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Find related papers by JEL classification: G30 - Financial Economics - - Corporate Finance and Governance - - - General M40 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - General