IDEAS home Printed from https://ideas.repec.org/a/dij/revfcs/v7y2004iq4p87-106.html
   My bibliography  Save this article

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

Author

Listed:
  • Yuan Ding

    (HEC School of Management (Paris))

  • Hervé Stolowy

    (HEC School of Management (Paris))

  • Michel Tenenhaus

    (HEC School of Management (Paris))

Abstract

(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.

Suggested Citation

  • Yuan Ding & Hervé Stolowy & Michel Tenenhaus, 2004. "Les déterminants de la stratégie de « capitalisation » des frais de recherche et développement en France," Revue Finance Contrôle Stratégie, revues.org, vol. 7(4), pages 87-106, December.
  • Handle: RePEc:dij:revfcs:v:7:y:2004:i:q4:p:87-106
    as

    Download full text from publisher

    File URL: https://repec-crego.u-bourgogne.fr/images/stories/rev/074106.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hervé Stolowy & Axel Haller & Volker Klockhaus, 2001. "La comptabilisation des marques : en France, en Allemagne et selon les règles de l'IASC," ACCRA, Association francophone de comptabilité, vol. 7(1), pages 41-60.
    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.
    3. 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.
    4. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    5. Vivek Mande & Richard G. File & Wikil Kwak, 2000. "Income Smoothing and Discretionary R&D Expenditures of Japanese Firms," Contemporary Accounting Research, John Wiley & Sons, vol. 17(2), pages 263-302, June.
    6. 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, June.
    7. 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.
    8. Aboody, D & Lev, B, 1998. "The value relevance of intangibles: The case of software capitalization," Journal of Accounting Research, Wiley Blackwell, vol. 36, pages 161-191.
    9. 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.
    10. Zimmer, Ian, 1986. "Accounting for interest by real estate developers," Journal of Accounting and Economics, Elsevier, vol. 8(1), pages 37-51, March.
    11. 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.
    12. 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.
    13. 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," ACCRA, Association francophone de comptabilité, vol. 8(3), pages 311-334.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Guillaume Dumas, 2012. "Le Comportement Myopique D'Investissement En R&D : Une Realite En France ?," Post-Print hal-00690955, HAL.
    2. Constant Djama & Guillaume Dumas & Isabelle Martinez, 2011. "L'innovation : une incitation à la gestion des résultats ?," Post-Print hal-00650418, HAL.
    3. Rihab Guidara & Younes Boujelbene, 2014. "R&D-Based Earnings Management and Accounting Performance Motivation," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(2), pages 81-93, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dechow, Patricia & Ge, Weili & Schrand, Catherine, 2010. "Understanding earnings quality: A review of the proxies, their determinants and their consequences," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 344-401, December.
    2. Rã‰Al Labelle, 1990. "Bond covenants and changes in accounting policy: Canadian evidence," Contemporary Accounting Research, John Wiley & Sons, vol. 6(2), pages 677-698, March.
    3. Rã‰Al Labelle, 1990. "Clauses restrictives et modifications comptables: une étude canadienne," Contemporary Accounting Research, John Wiley & Sons, vol. 6(2), pages 699-723, March.
    4. Guillaume Dumas & Constant Djama & Isabelle Martinez, 2011. "L'innovation : une incitation à la gestion des résultats ?," Post-Print hal-03948479, HAL.
    5. Mirza, Malik, 1999. "Disclosure of reserves in the annual reports of Australian mining and petroleum firms," Journal of Energy Finance & Development, Elsevier, vol. 4(2), pages 219-238.
    6. Anabela Santos & Michele Cincera, 2022. "Determinants of financing constraints," Small Business Economics, Springer, vol. 58(3), pages 1427-1439, March.
    7. Lorena Mitrione & George Tanewski & Jacqueline Birt, 2014. "The relevance to firm valuation of research and development expenditure in the Australian health-care industry," Australian Journal of Management, Australian School of Business, vol. 39(3), pages 425-452, August.
    8. Jia-Hua Tsai & Shiow-Ying Wen, 2013. "Intellectual Capital, Corporate Governance and Firm Performance," Information Management and Business Review, AMH International, vol. 5(10), pages 482-491.
    9. Tan, Chyi Woan & Tower, Greg & Hancock, Phil & Taplin, Ross, 2002. "Empires of the sky: determinants of global airlines' accounting-policy choices," The International Journal of Accounting, Elsevier, vol. 37(3), pages 277-299.
    10. Marie Chavent & Yuan Ding & Linghui Fu & Herve Stolowy & Huiwen Wang, 2006. "Disclosure and determinants studies: An extension using the Divisive Clustering Method (DIV)," European Accounting Review, Taylor & Francis Journals, vol. 15(2), pages 181-218.
    11. Muhammad Kaleem Khan & Ahmad Kaleem & Salman Zulfiqar & Umair Akram, 2019. "Innovation Investment: Behaviour Of Chinese Firms Towards Financing Sources," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 23(07), pages 1-29, October.
    12. Samah Rebai Azouz, 2013. "Gouvernement D'Entreprise Et Choix Du Mode De Comptabilisation Des Investissements En R&D : Cas Des Entreprises Françaises Cotées," Post-Print hal-00996788, HAL.
    13. Ahmed Sultan Bin-Sariman & Azwadi Ali & Mohd Nazli Mohd Nor, 2016. "Board of directors' quality and firms' debt financing: the moderating effect of insider ownership - evidence from Omani firms," Applied Economics, Taylor & Francis Journals, vol. 48(5), pages 402-410, January.
    14. Namryoung Lee & Jaehong Lee, 2019. "External Financing, R&D Intensity, and Firm Value in Biotechnology Companies," Sustainability, MDPI, vol. 11(15), pages 1-18, July.
    15. Connie L. Becker & Mark L. Defond & James Jiambalvo & K.R. Subramanyam, 1998. "The Effect of Audit Quality on Earnings Management," Contemporary Accounting Research, John Wiley & Sons, vol. 15(1), pages 1-24, March.
    16. Valérie Revest & Sandro Sapio, 2008. "Financing Technology-Based Small Firms in Europe: a review of the empirical evidence," LEM Papers Series 2008/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    17. Rihab Guidara & Younes Boujelbene, 2014. "R&D-Based Earnings Management and Accounting Performance Motivation," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(2), pages 81-93, April.
    18. Markarian, Garen & Pozza, Lorenzo & Prencipe, Annalisa, 2008. "Capitalization of R&D costs and earnings management: Evidence from Italian listed companies," The International Journal of Accounting, Elsevier, vol. 43(3), pages 246-267, September.
    19. Giorgio Canarella & Stephen M. Miller, 2019. "Determinants of Optimal Capital Structure and Speed of Adjustment: Evidence from the U.S. ICT Sector," Working papers 2019-06, University of Connecticut, Department of Economics.
    20. Felix J. Lopez-Iturriaga & Emilio Lopez-Millan, 2015. "Institutional Framework, Corporate Ownership Structure, and R&D Investment: An International Analysis," HSE Working papers WP BRP 36/MAN/2015, National Research University Higher School of Economics.

    More about this item

    Keywords

    France; R&D; capitalisation; immatériels; régression logistique; analyse factorielle; capitalization; intangibles; logistic regression; factor analysis;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:dij:revfcs:v:7:y:2004:i:q4:p:87-106. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Informatique Technique MSH Dijon (email available below). General contact details of provider: http://www.revues.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.