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Les normes comptables actuelles permettent-elles une comptabilisation des stock-options à leur juste valeur?

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Author Info
Philippe Desbrières () (Université de Bourgogne)

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Abstract

(VF)Ces dernières années, les stock-options ont été au cœur de scandales financiers dans plusieurs pays qui ont entraîné une forte demande de transparence, en particulier sur ce mode de rémunération destiné aux dirigeants. L’objectif de cet article est de présenter, dans une première partie, les modalités de comptabilisation des stock-options selon la norme européenne IFRS 2 et la norme américaine FAS 123. La seconde partie est consacrée aux incidences et à une analyse critique de la comptabilisation des stock-options, notamment au regard de l’exigence de comptabilisation de ce mécanisme incitatif à sa juste valeur. (VA) In many countries, executive stock options (ESOs) have been subject to financial scandals during these last years, that encountered for a deep need of transparency, particularly about this compensation device for managers. The aim of this paper is to present, in a first part, the ways of expensing ESOs in through the European IRFS 2 and the American FAS 123 standards. The second part analyses ESOs accounting and its consequences, namely regarding the requirements about measuring this incentive mechanism at its fair value.

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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 1061002.

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Length: 18 pages
Date of creation: Oct 2006
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Handle: RePEc:dij:wpfarg:1061002

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Postal: Gérard Charreaux, Fargo-Latec, Université de Bourgogne 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France

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Related research
Keywords: normes comptables; stock-options; rémunération des dirigeants.;

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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

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References listed on IDEAS
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  1. Huddart, Steven & Lang, Mark, 1996. "Employee stock option exercises an empirical analysis," Journal of Accounting and Economics, Elsevier, vol. 21(1), pages 5-43, February. [Downloadable!] (restricted)
  2. Hall, Brian J. & Murphy, Kevin J., 2002. "Stock options for undiversified executives," Journal of Accounting and Economics, Elsevier, vol. 33(1), pages 3-42, February. [Downloadable!] (restricted)
    Other versions:
  3. Brian J. Hall & Kevin J. Murphy, 2000. "Optimal Exercise Prices for Executive Stock Options," American Economic Review, American Economic Association, vol. 90(2), pages 209-214, May. [Downloadable!] (restricted)
    Other versions:
  4. Aboody, David, 1996. "Market valuation of employee stock options," Journal of Accounting and Economics, Elsevier, vol. 22(1-3), pages 357-391, October. [Downloadable!] (restricted)
  5. Cox, John C. & Ross, Stephen A. & Rubinstein, Mark, 1979. "Option pricing: A simplified approach," Journal of Financial Economics, Elsevier, vol. 7(3), pages 229-263, September. [Downloadable!] (restricted)
  6. Cuny, Charles J. & Jorion, Philippe, 1995. "Valuing executive stock options with endogenous departure," Journal of Accounting and Economics, Elsevier, vol. 20(2), pages 193-205, September. [Downloadable!] (restricted)
  7. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-54, May-June. [Downloadable!] (restricted)
  8. Jensen, Michael C & Murphy, Kevin J, 1990. "Performance Pay and Top-Management Incentives," Journal of Political Economy, University of Chicago Press, vol. 98(2), pages 225-64, April. [Downloadable!] (restricted)
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  9. Huddart, Steven, 1994. "Employee stock options," Journal of Accounting and Economics, Elsevier, vol. 18(2), pages 207-231, September. [Downloadable!] (restricted)
  10. Philippe Desbrières & Samuel Mercier, 2001. "Enjeux éthiques des formules d'actionnariat des dirigeants," Working Papers FARGO 1011101, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
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