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Gestion Du Resultat Et Introduction En Bourse : Cas Des Entreprises Tunisiennes

Author

Listed:
  • Mohamed Chabchoub

    (UREA - Unité de Recherche en Economie Appliquée - Université de Sfax - University of Sfax)

  • Mansour Mrabet

    (Unité de recherche : Gouvernance - ESC Sfax - Ecole Supérieure de Commerce Sfax)

Abstract

Ce papier étudie la gestion du résultat dans les entreprises tunisiennes non financières lors de leur introduction en bourse durant la période 1998-2003 en utilisant plus qu'un modèle d'estimation des accruals discrétionnaires. Nos résultats ne révèlent en moyenne, aucune gestion du résultat économiquement significative. Une analyse additionnelle, après l'exclusion des entreprises publiques, montre que les entreprises privées gèrent leur résultats à la hausse une année avant l'introduction et, conformément à Teoh et al (1998), ils continuent à le faire après l'introduction pour camoufler l'effet réversible d'une gestion antérieure et atteindre les objectifs optimistes assignés avant l'offre. L'étude met l'accent, aussi, sur l'effet réversible des accruals discrétionnaires et montre que les entreprises ne peuvent pas emprunter indéfiniment des gains futurs pour augmenter leurs gains actuels.

Suggested Citation

  • Mohamed Chabchoub & Mansour Mrabet, 2007. "Gestion Du Resultat Et Introduction En Bourse : Cas Des Entreprises Tunisiennes," Post-Print halshs-00544954, HAL.
    • Handle: RePEc:hal:journl:halshs-00544954
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00544954
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    References listed on IDEAS

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