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An Economic Analysis of Fair Value: The Evolution of Accounting Principles in European Legislation

Author

Listed:
  • Vincent Bignon

    (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis, FORUM - Fondements des organisations et des régulations de l'univers marchand - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique, IUFM Créteil - Institut universitaire de formation des maîtres - Académie de Créteil - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12)

  • Yuri Biondi

    (LEFI - Laboratoire d'Economie de la Firme et des Institutions - UL2 - Université Lumière - Lyon 2)

  • Xavier Ragot

    (PJSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Richard Barker

    (Judge Business School - CAM - University of Cambridge [UK])

Abstract

En juillet 2002, le vote par le Parlement européen de nouvelles normes comptables entrant en vigueur le 1er janvier 2005 pour les sociétés cotées, a orienté la comptabilité européenne vers un nouveau principe, celui de la " juste valeur ". Jusqu'à présent, la réglementation européenne s'inspirait essentiellement de la logique du coût historique : l'évaluation des actifs au bilan se fondait ainsi sur leurs " coûts d'acquisition amortis ". L'introduction du principe de juste valeur impose la détermination de la valeur des actifs par l'estimation des flux de profits anticipés actualisés dont ces actifs pourraient être à l'origine. Il s'agirait donc d'établir la valeur de chaque actif selon sa contribution potentielle au profit de l'entreprise.

Suggested Citation

  • Vincent Bignon & Yuri Biondi & Xavier Ragot & Richard Barker, 2009. "An Economic Analysis of Fair Value: The Evolution of Accounting Principles in European Legislation," Post-Print halshs-00754673, HAL.
    • Handle: RePEc:hal:journl:halshs-00754673
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    Cited by:

    1. Müller, Julian, 2014. "An accounting revolution? The financialisation of standard setting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 25(7), pages 539-557.
    2. Ramanna Karthik, 2013. "The International Politics of IFRS Harmonization," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 3(2), pages 1-46, January.
    3. Yuan Mingzhe & Liu Huifeng, 2011. "The Economic Consequences of Fair Value Accounting," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 1(2), pages 1-44, April.
    4. Yuri Biondi & Pierpaolo Giannoccolo, 2015. "Share price formation, market exuberance and financial stability under alternative accounting regimes," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 10(2), pages 333-362, October.
    5. Y. Biondi & P. Giannoccolo & A. Reberioux, 2009. "Efficient monitoring and control in intangibles-driven economies: is full independence always required?," Working Papers 664, Dipartimento Scienze Economiche, Universita' di Bologna.
    6. Biondi Yuri, 2017. "Accounting for Europe’s Economy and Society: Considerations for Financial Stability, Economic Development and the Public Good," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 7(2), pages 65-77, July.
    7. Inesa IACOB, 2014. "Fair-Value Accounting – Between Innovation And Need," THE YEARBOOK OF THE "GH. ZANE" INSTITUTE OF ECONOMIC RESEARCHES, Gheorghe Zane Institute for Economic and Social Research ( from THE ROMANIAN ACADEMY, JASSY BRANCH), vol. 23(1), pages 91-98.
    8. Miroslav Škoda, 2012. "How Appraisers Develop Fair Value," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 12(2), pages 273-284.
    9. Iulia Jianu & Roxana Ruiu & Ionel Jianu & Mihaita Ruiu, 2013. "The Value and the Evaluation Process in Accounting," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 3(6), pages 1-15, December.

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