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La gestion stratégique des résultats. Le cas des firmes publiant des prévisions lors d'un premier appel public à l'épargne

Author

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  • Denis Cormier
  • Michel Magnan

Abstract

In this paper, we investigate the motivation for managers to engage in strategic earnings management following the issue of forecasts for purposes of initials public offerings (IPO?s). Firms issuing forecasts in their prospectuses are expected to differ from non-forecasters in their level of earnings management during the year following the public offering. Results from a sample of Quebec IPO firms indicate that earnings management is driven by contractual obligations and that the decision to include a forecast influences a firm?s subsequent accruals behaviour. The study provides further evidence as to the validity of contracting hypotheses when attempting to explain managers? motivation underlying accounting decisions. This research gives some support for positive accounting theory in a new and unique context in which forecasts are identified as a form of implicit contract between a firm and its contracting parties.

Suggested Citation

  • Denis Cormier & Michel Magnan, 1995. "La gestion stratégique des résultats. Le cas des firmes publiant des prévisions lors d'un premier appel public à l'épargne," ACCRA, Association francophone de comptabilité, vol. 1(1), pages 45-61.
    • Handle: RePEc:cai:accafc:cca_011_0045
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    Citations

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    Cited by:

    1. Dhouha Bouaziz, 2024. "Does the CEO’s Entrenchment Affect the Financial Communication Quality? Empirical Evidence from France," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 23(1), pages 107-133, January.
    2. Guillaume Dumas & Constant Djama & Isabelle Martinez, 2011. "L'innovation : une incitation à la gestion des résultats ?," Post-Print hal-03948479, HAL.

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