La valorisation boursière des états financiers des sociétés françaises: pertinence du référentiel IFRS

Denis Cormier, Samira Demaria and Pascale Lapointe-Antunes

ACCRA, 2012, vol. 18, issue 2, 99-124

Abstract: This paper compares the value relevance of financial statements for a sample of French firms pre and post IFRS adoption. First, results show that book values are closer to stock market values under IFRS than under French GAAP. Second, abnormal accruals appear to be more valued under IFRS. This is consistent with the view that earnings management is more likely to provide a credible signal about future cash flows under IFRS than under French GAAP. Finally, earnings under IFRS are more predictable by stock market under IFRS than under French GAAP.

Keywords: earnings management; IFRS; value relevance (search for similar items in EconPapers)
Date: 2012
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