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Les stratégies comptables entourant un changement de dirigeant en France

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Author Info

  • Yves Mard

    (Centre de Recherches Clermontois en Gestion et Management (CRCGM) - Université d'Auvergne - Clermont-Ferrand I)

  • Sylvain Marsat

    (Centre de Recherches Clermontois en Gestion et Management (CRCGM) - Université d'Auvergne - Clermont-Ferrand I)

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    Abstract

    À partir d'un échantillon de 52 changements de dirigeants au sein d'entreprises françaises cotées entre 2000 et 2005, les choix comptables effectués par les dirigeants sortants et entrants sont analysés. L'étude des accruals discrétionnaires montre d'abord que les dirigeants sortants ont tendance à gérer à la hausse les résultats durant les deux exercices qui précèdent leur départ. Ensuite, on observe une baisse très nette des accruals durant l'exercice de succession, conformément à l'hypothèse du « big bath ». Enfin, durant l'exercice qui suit le changement, la gestion du résultat à la hausse est constatée en cas de changement planifié du dirigeant, mais pas dans le cas d'un départ forcé.

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    Bibliographic Info

    Paper provided by HAL in its series Post-Print with number halshs-00525427.

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    Date of creation: May 2008
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    Publication status: Published - Presented, LA COMPTABILITE, LE CONTRÔLE ET L'AUDIT ENTRE CHANGEMENT ET STABILITE, 2008, France
    Handle: RePEc:hal:journl:halshs-00525427

    Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00525427/en/
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    Related research

    Keywords: Changements de dirigeant; gestion du résultat; départ planifié; départ forcé;

    References

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    1. Weisbach, Michael S., 1988. "Outside directors and CEO turnover," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 431-460, January.
    2. Engel, Ellen & Hayes, Rachel M. & Wang, Xue, 2003. "CEO turnover and properties of accounting information," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 197-226, December.
    3. Benjamin E. Hermalin & Michael S. Weisbach, 1996. "Endogenously Chosen Boards of Directors and Their Monitoring of the CEO," Working Papers _004, University of California at Berkeley, Haas School of Business.
    4. Dechow, Patricia M. & Sloan, Richard G., 1991. "Executive incentives and the horizon problem : An empirical investigation," Journal of Accounting and Economics, Elsevier, vol. 14(1), pages 51-89, March.
    5. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
    6. Warner, Jerold B. & Watts, Ross L. & Wruck, Karen H., 1988. "Stock prices and top management changes," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 461-492, January.
    7. Murphy, Kevin J. & Zimmerman, Jerold L., 1993. "Financial performance surrounding CEO turnover," Journal of Accounting and Economics, Elsevier, vol. 16(1-3), pages 273-315, April.
    8. Pourciau, Susan, 1993. "Earnings management and nonroutine executive changes," Journal of Accounting and Economics, Elsevier, vol. 16(1-3), pages 317-336, April.
    9. Jayne Godfrey & Paul Mather & Alan Ramsay, 2003. "Earnings and Impression Management in Financial Reports: The Case of CEO Changes," Abacus, Accounting Foundation, University of Sydney, vol. 39(1), pages 95-123.
    10. Farrell, Kathleen A. & Whidbee, David A., 2003. "Impact of firm performance expectations on CEO turnover and replacement decisions," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 165-196, December.
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