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

  • 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 revues.org 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. 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.
  2. 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.
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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. Zimmer, Ian, 1986. "Accounting for interest by real estate developers," Journal of Accounting and Economics, Elsevier, vol. 8(1), pages 37-51, March.
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  7. 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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