L'EVALUATION DES INVESTISSEMENTS IMMATERIELS: UNE ETUDE EMPIRIQUE: CAS DES ENTREPRISES TUNISIENNES

Mondher Bellalah, Abdelfettah Bouri and Ahmed Chabchoub
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Mondher Bellalah: THEMA - Théorie économique, modélisation et applications - UCP - Université de Cergy Pontoise - Université Paris-Seine - CNRS - Centre National de la Recherche Scientifique
Abdelfettah Bouri: Faculté des sciences économiques et de gestion Sfax - FSEG Sfax - Faculté des Sciences Economiques et de Gestion de Sfax - Université de Sfax - University of Sfax
Ahmed Chabchoub: Faculté des sciences économiques et de gestion Sfax - FSEG Sfax - Faculté des Sciences Economiques et de Gestion de Sfax - Université de Sfax - University of Sfax

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Abstract: The increasing dematerialization of the politics of investment of the enterprises justifies the necessity to measure there different demonstrations. This article intends to study the value relevance of the financial information on the intangible investments for the investors on the Tunisian stock market. Our survey work, carried with 21 Tunisian firms, shows, mainly: 1) that the activation of the investments immaterial influence positively their assessment on the market, and 2) that the depreciation of intangible assets is valorised positively by the investors on the stock market. These results show that the financial information on the immaterial have an informative value for the investors on the stock market. We raise otherwise that the choices of accounting of the incorporeal expenses depend on characteristic factors of the enterprise.

Keywords: intangible investment; value relevance; financial information; Tobin's q; Tunisian firms; investissement immatériel; pertinence; information comptable; q de Tobin; entreprises tunisiennes (search for similar items in EconPapers)
Date: 2008-05
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00522447
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Published in LA COMPTABILITE, LE CONTRÔLE ET L'AUDIT ENTRE CHANGEMENT ET STABILITE, May 2008, France. pp.CD Rom

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