CREATION DE VALEUR: L'IMPACT DES NORMES IFRS SUR LE CONTENU INFORMATIONNEL DU RESULTAT NET: LE CAS DE LA FRANCE

Tayeb Saadi
Additional contact information
Tayeb Saadi: CESAG - Centre d'études des sciences appliquées à la gestion

Post-Print from HAL

Abstract: Since the advent of the International Financial Reporting Standards (IFRS) / International Accounting Standards (IAS), European companies have reported their consolidated financial statements according to shareholder (or investor) model. This new frame of reference seems to provide more relevant information than those obtained from the stakeholder model (French GAAP). This article aims to compare the value relevance of earnings as obtained from French GAAP and from International Accounting Standards (IAS/IFRS). In particular, we check whether the adoption of IAS/IFRS standards improves the overall quality of the published earnings used by the stock exchange investors. Using data from French companies listed on the Paris stock exchange, the observed value relevance of earning is studied by comparing the pre-IFRS (2001-2003) and post-IFRS (2005-2007) periods. We test linear and nonlinear relationships between the stock-exchange returns and earnings. Our results indicate that the value relevance of information content of earnings is greater under French GAAP than with IFRS GAAP in the explanation of stock returns. They also indicate the superiority of the nonlinear shape over the simple linear shape.

Keywords: Value creation; accounting earnings; return; value relevance; investor; Création de valeur; résultat net; rendement boursier; pertinence; investisseur (search for similar items in EconPapers)
Date: 2009-05-27
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00460635
References: Add references at CitEc
Citations:

Published in La place de la dimension européenne dans la Comptabilité Contrôle Audit, May 2009, Strasbourg, France. pp.CD ROM

Downloads: (external link)
https://shs.hal.science/halshs-00460635/document (application/pdf)

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:hal:journl:halshs-00460635

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().