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Les déterminants de la stratégie de « capitalisation » des frais de recherche et développement en France

Listed author(s):
  • Yuan Ding

    (HEC School of Management (Paris))

  • Hervé Stolowy


    (HEC School of Management (Paris))

  • Michel Tenenhaus

    (HEC School of Management (Paris))

(VF)Selon les règles comptables françaises, les sociétés ont la possibilité de « capitaliser » leurs frais de R&D sous certaines conditions. En analysant les rapports annuels 2000 des sociétés non financières appartenant à l’indice SBF 250, nous avons tenté de comprendre pourquoi certaines sociétés françaises utilisent cette possibilité. Nos résultats montrent que les sociétés qui « capitalisent » la R&D sont celles qui sont les plus « risquées », c’est-à-dire qui appartiennent au secteur de la haute technologie ou ont un coefficient bêta plus élevé.(VA) According to French accounting standards, companies have the possibility to capitalize their R&D expenses under certain conditions. By analyzing the annual reports of non-financial companies listed on the Paris stock exchange and included in the SBF250 index (annual reports 2000), we try to identify which firm characteristics can help predict this accounting choice. Our results provide evidence that companies capitalizing R&D are those belonging to hi-tech industries or having a high beta.

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Article provided by in its journal Revue Finance Contrôle Stratégie.

Volume (Year): 7 (2004)
Issue (Month): 4 (December)
Pages: 87-106

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Handle: RePEc:dij:revfcs:v:7:y:2004:i:q4:p:87-106
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  1. Fields, Thomas D. & Lys, Thomas Z. & Vincent, Linda, 2001. "Empirical research on accounting choice," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 255-307, September.
  2. Muller III, Karl A., 1999. "An examination of the voluntary recognition of acquired brand names in the United Kingdom1," Journal of Accounting and Economics, Elsevier, vol. 26(1-3), pages 179-191, January.
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  4. Rahim Bah & Pascal Dumontier, 2001. "R&D Intensity and Corporate Financial Policy: Some International Evidence," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 28(5-6), pages 671-692.
  5. Pascal Dumontier & Bernard Raffournier, 2002. "Accounting and capital markets: a survey of the European evidence," European Accounting Review, Taylor & Francis Journals, vol. 11(1), pages 119-151.
  6. Hagerman, Robert L. & Zmijewski, Mark E., 1979. "Some economic determinants of accounting policy choice," Journal of Accounting and Economics, Elsevier, vol. 1(2), pages 141-161, August.
  7. Paul André & Denis Cormier, 2002. "Incidence sur les états financiers des méthodes de comptabilisation des dépenses de recherche et développement et des coûts de production : le cas de l'industrie aérospatiale internationale," Comptabilité - Contrôle - Audit, Association francophone de comptabilité, vol. 8(3), pages 311-334.
  8. Daley, Lane A. & Vigeland, Robert L., 1983. "The effects of debt covenants and political costs on the choice of accounting methods : The case of accounting for R&D costs," Journal of Accounting and Economics, Elsevier, vol. 5(1), pages 195-211, April.
  9. repec:bla:joares:v:36:y:1998:i::p:161-191 is not listed on IDEAS
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