Comptabilité internationale et évaluation boursière des bénéfices et capitaux propres Application sur le marché Européen et le marché Américain

Lionel Escaffre () and Réda Sefsaf ()
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Lionel Escaffre: GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - AGROCAMPUS OUEST - Institut National de l'Horticulture et du Paysage
Réda Sefsaf: GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - AGROCAMPUS OUEST - Institut National de l'Horticulture et du Paysage

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Abstract: This paper reviews and analyzes value relevance of earning and equity in two different institutional regimes. The first concerns the European financial market dominated by companies posting their accounts in compliance with IFRS. While the latter is akin to the American market with listed companies apply the US-GAAP. Our issue will aim to find out under what standard and financial market, the association between accounting numbers (earning and equity) and the stock price is the most important? Test results show a statistical superiority of the value relevance of the European market on the American market.

Date: 2008-09-11
Note: View the original document on HAL open archive server: https://hal.science/hal-00769386
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Published in Congrès des IAE, Sep 2008, Lille, France. pp.CD rom

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