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...

L'ouvrage présente et discute les méthodes d'évaluation pertinentes dans le cadre préparatoire au reporting financier en normes IFRS.

1. What is a brand? -- 2. Brand value -- 3. Brands and accounting standards -- 4. The excess earnings method -- 5. Revenue premium method -- 6. The relief-from-royalty method -- 7. The market-based approach -- 8. The cost-based approach -- 9. Brands and valuation standards -- 10. Ad Hoc...

Information risk – the uncertainty regarding the parameters of the distribution of firms’ future cash flows – generates valuation errors and is costly to investors who require a higher return to compensate for greater information risk. We argue that, on average, through their...

This study investigates the informativeness of purchase price allocations (PPAs) that involve fair value estimation of acquired assets and liabilities after a business combination. Using a model capturing the amount of goodwill expected after the initial announcement of an acquisition, we...

This chapter examines the relation between corporate governance mechanisms and operating performance and liquidity risk within the specific environment of West African Economic and Monetary Union (WAEMU) banks. The implementation of well-known western corporate governance mechanisms in emerging...

Selon les normalisateurs, les PPA (Purchase Price Allocations) réalisés suite à un regroupement d'entreprises, renforcent l'utilité des états financiers, alors que la littérature et les praticiens sont réservés. Nous testons les conséquences sur les anticipations de marché de la...

Standards setters support that purchase price allocations (PPAs) enhance financial statement decision-usefulness whereas academics and practitioners challenge this statement. We test the consequences of the quality of PPAs, subsequent to business combinations, on change in market expectations....

Cet article s'intéresse aux déterminants de la dépréciation du goodwill reconnu à l'occasion de regroupements d'entreprises. A l'issue de l'examen des cadres réglementaires international et nord américain de suivi de valeur du goodwill, nous identifions deux types de facteurs de risque...