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Valeur comptable versus valeur boursière

Author

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  • Badreddine Hamdi

    (ERMMES - Laboratoire d'Etudes et de Recherche Méditerranéennes en Management des Entreprises - UTLN - Université de Toulon)

Abstract

Ce papier a pour objet d'apporter une explication à l'écart constaté entre la valeur comptable et la valeur boursière des sociétés. Nous avons supposé qu'il peut être expliqué par l'irrationalité et « l'auto-référentialité » du marché, ainsi que par l'incapacité du modèle comptable traditionnel à traduire la valeur de la firme. Nos résultats corroborent la majorité de nos hypothèses et montrent que la distorsion entre la valeur comptable et la valeur boursière est une conséquence directe de la comptabilité au coût historique, de la prudence comptable, de la non-activation des certains éléments immatériels, ainsi que de la mauvaise évaluation (mispricing) des titres par les investisseurs sur le marché.

Suggested Citation

  • Badreddine Hamdi, 2006. "Valeur comptable versus valeur boursière," Post-Print halshs-00558378, HAL.
    • Handle: RePEc:hal:journl:halshs-00558378
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00558378
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    References listed on IDEAS

    as
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