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Titres hybrides et référentiels comptables : une comparaison internationale

Author

Listed:
  • Hebattallah Aboulmaaty

    (ESSCA - Ecole Supérieure des Sciences Commerciales d'Angers)

  • Pascal Barneto

    (CEREGE [Poitiers] - Centre de recherche en gestion [EA 1722] - IAE Poitiers - Institut d'Administration des Entreprises (IAE) - Poitiers - UP - Université de Poitiers = University of Poitiers - UP - Université de Poitiers = University of Poitiers - ULR - La Rochelle Université)

  • Joël Keiser

    (Kedge Business School [Talence])

  • Stéphane Ouvrard

    (Kedge Business School [Talence])

  • Yves Rannou

    (CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA [2017-2020] - Université Clermont Auvergne [2017-2020])

Abstract

research contract supported by ANC related to the distinction between equity and debt. In line with the IASB project on Financial Instruments with Characteristics of equity (FICE), we undertake a comprehensive study of the legal, fiscal and accounting framework applied to hybrid securities among five representative countries: Australia, Canada, USA, France, United Kingdom. Having explained their domestic legal and tax qualifications, we compare the methods of their accounting classification and their valuation used. We conclude that the US GAAP offers the more detailed scheme for accounting hybrid securities. We thus recommend to the IASB for its FICE project the implementation of a mezzanine category in order to classify compound hybrid securities.

Suggested Citation

  • Hebattallah Aboulmaaty & Pascal Barneto & Joël Keiser & Stéphane Ouvrard & Yves Rannou, 2018. "Titres hybrides et référentiels comptables : une comparaison internationale," Post-Print hal-01907960, HAL.
    • Handle: RePEc:hal:journl:hal-01907960
    Note: View the original document on HAL open archive server: https://hal.science/hal-01907960
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    References listed on IDEAS

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    1. Dutordoir, Marie & Lewis, Craig & Seward, James & Veld, Chris, 2014. "What we do and do not know about convertible bond financing," Journal of Corporate Finance, Elsevier, vol. 24(C), pages 3-20.
    2. Lewis, Craig M. & Veld, Chris, 2014. "Convertible bond financing," Journal of Corporate Finance, Elsevier, vol. 24(C), pages 1-2.
    3. Fenech Jean-Pierre & Fang Victor & Brown Rob, 2016. "How Accurately Can Convertibles be Classified as Debt or Equity for Tax Purposes? Evidence from Australia," Review of Law & Economics, De Gruyter, vol. 12(1), pages 153-164, March.
    4. Stein, Jeremy C., 1992. "Convertible bonds as backdoor equity financing," Journal of Financial Economics, Elsevier, vol. 32(1), pages 3-21, August.
    5. Kenneth Aberbach, 2009. "Treatment of hybrid securities," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Proceedings of the IFC Workshop on "Challenges to improve global comparison of securities statistics", Washington DC, March 2008, volume 29, pages 114-117, Bank for International Settlements.
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    1. Pascal Barneto & Stéphane Ouvrard & Yves Rannou, 2019. "Les titres hybrides : de leur émission à leur classement comptable. Un enjeu de contrôle ?," Post-Print hal-02311469, HAL.

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    More about this item

    Keywords

    Accounting standards; IFRS; Debt; Equity; Mezzanine; Normes comptables; Dettes; Fonds propres;
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