La fin des années 90 et le début des années 2000 ont été marqués par de fortes progression des goodwill des entreprises non financières débouchant sur un brutal retournement. Nombreux sont ceux qui ont alors mis en cause les marchés financiers, en particulier les grandes firmes et leurs stratégie, en s’interrogeant sur la soutenabilité de ce type de croissance. Qu’en est il alors en terme de solvabilité à un moment où le renforcement des règles prudentielles vient accentuer les exigences de création de valeur pour les actionnaires ? During the last years, the goodwill of the non financial companies has increased before to move back. The efficiency of financial market has been contested because of the gap between the increase of the goodwill and the lack of value for shareholders. At the same time, the international insolvency rules produces many questions about the sustainability of growth and the ability of companies to create value.
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Paper provided by EconWPA in its series Finance with number
0407007.
Find related papers by JEL classification: D2 - Microeconomics - - Production and Organizations G3 - Financial Economics - - Corporate Finance and Governance
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