Restructuration volontaire et performance des sociétés (ABSTRACT)
André, P., Laurin, C., & Mathieu, R.
published: 2000 | Research publication | Refereed Journals - Accounting
André, P., Laurin, C., & Mathieu, R. (2000). "Restructuration volontaire et performance des sociétés". Revue Internationale de Gestion, 25 (3), 104-110.
ABSTRACT: Global corporations embarked on major restructuring and downsizing initiatives in the 1990s. These initiatives have had a significant impact on the financial results and performance of these corporations. Therefore, a more thorough understanding of the factors leading to voluntary restructuring initiatives - usually signalled by the reporting of discretionary expenses associated with restructuring, the deletion of assets or the termination of operations - is in order. The findings of numerous American studies as well as our own indicate that companies that engage in voluntary restructuring have lower-than-average results not only prior to the initiation of the process but also in subsequent years. Furthermore, several authors point out that, in the past at least, the level of discretion permitted by accounting standards governing the reporting of restructuring costs allowed companies to manage financial results somewhat strategically.
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revised Jan 19/05
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