The AFEP-MEDEF corporate governance code amended in 2013 introduces the say on pay principle, which grants shareholders the right to vote on executive remuneration at annual general meetings. This paper aims at reviewing the studies undertaken in countries that have established this principle...

Face à la montée en puissance des actionnaires individuels et la progression du « capitalisme financier », les entreprises françaises sont amenées à adapter leurs stratégies de communication. Dans son rapport de 1999, la COB a constaté des améliorations dans la qualité de la...

The cost of equity capital is traditionally considered as an increasing function of the estimation risk – the risk of error regarding the distribution of a firm’s future cash flows (FCF). Under international GAAPs, IAS 36 “Impairment of assets” -based information disclosure conveys...

Cette étude s'est intéressée aux pratiques des groupes français en matière de reconnaissance comptable des éléments incorporels acquis lors de regroupements d'entreprises et à l'impact de celles-ci sur le marché financier. La démarche de validation empirique a porté sur un...

This paper offers a new foundation for investigating accounting policy in organizations. After recalling some characteristics illustrating the deficiency of Positive Accounting Theory (PAT) as a comprehensive, contextual and holistic analysis of accounting policy in organizations, positive...

Having been introduced in the European Union and in many other countries, the equal opportunity rule is seen as protecting investors in the event of a transfer of control. This rule should be analyzed in a context of appropriation of private benefits between the new controlling shareholders and...

The equal opportunity rule is seen as protecting investors in the event of a transfer of control. In order to better analyze the consequence of such a rule, we need to account for the information asymmetry that exists between new controlling shareholders and outside investors with private...