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La gestion des résultats comptables précédant les opérations de LBO françaises

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  • Anne-Laure Le Nadant

Abstract

This study examines earnings manipulations preceding 118 leveraged buyout cases during 1994-1997. We make a distinction between two types of LBOs : MBOs in which firm managers and executives are ?- or are part of ? bidders and nil the other types of LBOs in which the manager is also the owner who sells his firm. This distinction allows us to define two different objectives pursued by the managers, who are supposed to seek to maximize their own wealth in the transaction. We extend the Anglo-Saxon studies of this issue which have been interested in MBO cases only. Using the accrual methodology we find no earnings management for the sample in the period preceding the LBO.

Suggested Citation

  • Anne-Laure Le Nadant, 1999. "La gestion des résultats comptables précédant les opérations de LBO françaises," ACCRA, Association francophone de comptabilité, vol. 5(2), pages 61-82.
    • Handle: RePEc:cai:accafc:cca_052_0061
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    Cited by:

    1. Hatem Mansali, 2009. "La gestion des résultats et les performances comptables à long terme des entreprises françaises émettrices d’actions," Revue Finance Contrôle Stratégie, revues.org, vol. 12(4), pages 39-83, December.
    2. Yves Mard & Sylvain Marsat, 2012. "Earnings management and ownership structure: Evidence from France [Gestion des résultats comptables et structure de l'actionnariat : le cas français]," Post-Print hal-02156592, HAL.

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