D'une instrumentalisation de la prudence. La revente du parc immobilier de Manufrance (années 1970-années 1980)

Pierre Labardin and Lambert Jerman
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Pierre Labardin: DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique
Lambert Jerman: Toulouse Business School - Toulouse Business School

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Abstract: This article examines how prudence can be manipulated when it is translated into an accounting principle. The purpose of conservatism is to support the sustainable growth of industrial companies by reporting assets at the lower end of the range of reasonable values. Based on an in-depth study of Manufrance, a large French industrial company, we describe and analyze how conservatism could be manipulated and diverted from its original purpose. We particularly demonstrate how under-estimating Manufrance's real estate assets led to opportunistic short-term profits and, eventually, the collapse of the company.

Keywords: évaluation; actions immobilières; finances; capitaux (search for similar items in EconPapers)
Date: 2018
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Published in Entreprises et Histoire, 2018, 3, ⟨10.3917/eh.092.0059⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02105160

DOI: 10.3917/eh.092.0059

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