Le ratio market-to-book et la reconnaissance des immatériels – une étude du marché français

Anne Cazavan-Jeny

ACCRA, 2004, vol. 10, issue 2, 99-124

Abstract: We investigated the possible explanations for differences between the market value and book value of a company. We propose the hypothesis that this difference can be attributed to the fact that intangible assets are not reflected in financial statements. Our results indicate a statistical link between the « capitalised goodwill » and die market-to-book ratio, but do not indicate any association with the « expensed intangible intensity » nor the « capitalised intangible intensity ».

Keywords: intangibles; value relevance; financial information; market-to-book ratio (search for similar items in EconPapers)
Date: 2004
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