Transactions avec les parties liées, caractéristiques de propriété et de gouvernance et performance des entreprises françaises

Mehdi Nekhili and Moêz Cherif

ACCRA, 2009, vol. 15, issue 3, 55-89

Abstract: The aim of this paper is to study the impact of related party transactions (RPT) on French firms? performance and to identify ownership and governance characteristics of firms that carry out such transactions. The results of regressions conducted on a sample of 85 French firms listed on the Paris Stock Exchange during the 2002-2005 period show that previous transactions renewed during the year, as well as transactions carried out with controlling shareholders, directors and/or executive officers destroy value. RPT are mainly influenced by the concentration of voting rights, the size and the composition of the board of directors, the presence of an independent audit committee and the choice of the external auditor. These results encourage reflection on the limits of the NRE law and the LSF about transactions with related parties? area.

Keywords: related party transactions; expropriation; ownership structure; governance; firm value (search for similar items in EconPapers)
Date: 2009
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=CCA_153_0055 (application/pdf)
http://www.cairn.info/revue-comptabilite-controle-audit-2009-3-page-55.htm (text/html)
free

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:accafc:cca_153_0055

Access Statistics for this article

More articles in ACCRA from Association francophone de comptabilité
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().