Séminaire – Petit déjeuner – “Marking to Market versus Taking to Market” par Guillaume Plantin, Sciences Po Paris

Date / Heure
Date(s) - 27/06/2017
9 h 00 - 10 h 30

Emplacement
Auditorium Gilles Glicenstein


“Marking to Market versus Taking to Market”

Co-écrit par Guillaume Plantin et Jean Tirole

Abstract : Building on the idea that accounting measurements matter for corporate governance. We study in particular the equilibrium interaction between the measurement rules that firms find privately optimal, firms’ governance, and the liquidity in the secondary market for their assets. This equilibrium approach reveals a socially excessive use of market-value accounting. Corporate performance measures rely excessively on the information generated by asset sales by other firms and insufficiently on the realization of a firm’s own latent capital gains. This dries up market liquidity and reduces the informativeness of price signals.

Membres IA : 12 points PPC

Retour sur la conférence de Guillaume Plantin – Les slides

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Filed under: Séminaires trimestriels