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La Gestion des résultats comptables par les dirigeants de l’acquéreur en période de pré-acquisition

Author

Listed:
  • Kamel Touhami

    (CEREGE [Poitiers] - Centre de recherche en gestion [EA 1722] - IAE Poitiers - Institut d'Administration des Entreprises (IAE) - Poitiers - UP - Université de Poitiers = University of Poitiers - UP - Université de Poitiers = University of Poitiers - ULR - La Rochelle Université)

  • Karim Mhedhbi

Abstract

La Gestion des résultats comptables par les dirigeants de l'acquéreur en période de pré-acquisition Résumé Cette recherche examine la gestion des résultats comptables par les dirigeants d'entreprises françaises sujettes à des opérations de fusions-acquisitions. La recherche comptable suggère que les transactions de fusions-acquisitions offrent un cadre propice à la gestion des résultats pour les dirigeants de l'entreprise acquéreur (Easterwood, 1998 ; Erickson et Wang, 1999 ; Louis, 2004 ; Pungaliya et Anand, 2009. etc.). Notre recherche se propose d'enrichir la littérature comptable à travers l'analyse de la manipulation des résultats comptables par les firmes acquéreuses qui se distinguent par leurs modes de financement dans un contexte institutionnel différent, celui de la France. Sur un échantillon d'entreprises françaises composé par 113 acquéreuses par échange d'actions (APEA) et 73 offres publiques d'achat (OPA) entre 1997 et 2009, nos résultats documentent une gestion significative des résultats comptables en période de pré-acquisition pour les APEA. Dans ce sens, les variables comptables de régularisation discrétionnaires sont significativement positifs durant l'année précédant l'offre. Par contre, les acquéreuses liquides qui se traduisent par des offres publiques d'achat (OPA) présentent des niveaux négatifs des variables comptables de régularisation discrétionnaires avant l'évènement.

Suggested Citation

  • Kamel Touhami & Karim Mhedhbi, 2014. "La Gestion des résultats comptables par les dirigeants de l’acquéreur en période de pré-acquisition," Post-Print hal-01899494, HAL.
    • Handle: RePEc:hal:journl:hal-01899494
    Note: View the original document on HAL open archive server: https://hal.science/hal-01899494
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    References listed on IDEAS

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