Qui a le plus profité de l’adoption des IFRS en France?

Abstract

This study shows that French firms did not benefit identically from IFRS. Adoption of the new accounting standards resulted in lower information asymmetry for firms with high analyst following, high voluntary disclosures, and highly specific assets and activities. In contrast, it resulted in higher information asymmetry for firms with low analyst following and low voluntary disclosures. Surprisingly, IFRS adoption worsened information asymmetry for firms that suffered from the highest information asymmetry prior to the adoption of IFRS. Conversely, and paradoxically, firms that had the least to expect from IFRS, because of weak asymmetry prior to the adoption, benefitted the most from the adoption.