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La Gestion Des Resultats Lors Des Introductions En Bourse Est Elle Informative ?

Author

Listed:
  • Aida Boudabbous Gassara

    (Laboratoire de Recherche en Finance, Comptabilité et d'Intermédiation Financière - faculté des sciences économiques et de gestion de tunis)

  • Ezzeddine Abaoub

    (Laboratoire de Recherche en Finance, Comptabilité et d'Intermédiation Financière - faculté des sciences économiques et de gestion de tunis)

Abstract

Cette étude constitue l'une des premières études traitant de la gestion des résultats et la performance boursière à long terme des introductions en bourse dans un pays européen notamment la France. Nous examinons les ‘accruals' discrétionnaires avant et après l'introduction en bourse et la performance économique et boursière futures. Nous utilisons deux méthodologies d'estimation des ‘accruals' discrétionnaires, soit le modèle de Dechow et al. (2003) et une méthode plus récente développée par Kothari et al. (2005) appelée ‘performancematched discretionary accruals' et nous mesurons les rentabilités anormales avec différents benchmarks. Nos résultats montrent que quelques soit la méthodologie d'estimation de la gestion des résultats (Dechow VS Kothari), les ‘accruals' discrétionnaires atteignent leur maximum à l'année d'introduction en bourse. Cependant, la performance boursière semble dépendre avec la méthodologie d'estimation des rentabilités anormales.

Suggested Citation

  • Aida Boudabbous Gassara & Ezzeddine Abaoub, 2007. "La Gestion Des Resultats Lors Des Introductions En Bourse Est Elle Informative ?," Post-Print halshs-00543206, HAL.
    • Handle: RePEc:hal:journl:halshs-00543206
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00543206
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    References listed on IDEAS

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