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La gestion du résultat comptable autour d'un changement de dirigeant en France

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  • Yves Mard
  • Sylvain Marsat

Abstract

We analyse earnings management carried out by the outgoing and the incoming top managers from a sample of 52 French firms who encountered a change of CEO during the 2000-2005 period. The study of discretionary accruals shows that they engage in upwards earnings management during the two years preceding their departure. Then, we observe a very clear decline of accruals during the year of succession, according to the « big bath » hypothesis. During the years following the change, upward earnings management is observed in case of routine changes as soon as T+1, but only in T+2 in the case of a non routine departure. Finally, a multivariate analysis pinpoints, in the case of CEO changes, the influence of some governance mechanisms on accruals.

Suggested Citation

  • Yves Mard & Sylvain Marsat, 2009. "La gestion du résultat comptable autour d'un changement de dirigeant en France," ACCRA, Association francophone de comptabilité, vol. 15(3), pages 141-169.
    • Handle: RePEc:cai:accafc:cca_153_0141
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