Contenu du sommaire
| Revue |
Comptabilité - Contrôle - Audit  |
|---|---|
| Numéro | Tome 27, no 2, mai 2021 |
| Texte intégral en ligne | Accès réservé |
- Évolution des trajectoires professionnelles des directeurs financiers au regard du processus de financiarisation des organisations - Marie Redon p. 7-39
Cet article s'intéresse à l'évolution des profils des directeurs financiers dans le but de mieux comprendre les relations entre ces acteurs et le processus de financiarisation. Au moyen d'une analyse comparative des formations et des carrières de deux générations de directeurs financiers et d'entretiens consubstantiels auprès de cette population, nous montrons que l'évolution des profils des directeurs financiers est concomitante au processus de financiarisation. Nous contribuons à la littérature sur la financiarisation en mettant en lumière l'émergence d'un nouveau profil de directeur financier spécialiste de la finance de « haut de bilan », et la substitution progressive des auditeurs externes aux contrôleurs de gestion et aux comptables au poste de directeur financier de « bas de bilan ».This paper looks at the evolution of the French CFOs' backgrounds to better understand the relationships between these actors and the financialization process. Using a comparative analysis of the educational backgrounds and careers of two generations of CFOs and interviews, we show that the evolution of CFOs' backgrounds goes hand in hand with the financialization process. We contribute to the literature focused on financialization by showing the rise in a new CFO profile specialized in equity, and the progressive substitution of the external auditors to the management controllers and accountants at the CFO's position. - Does Analyst Coverage Impede Long-Term Investments? Evidence from Health and Safety Programs - Alexandre Garel, Christophe Moussu, Steve Ohana, Arthur Petit-Romec p. 41-73 This paper studies the linkage between analyst coverage and Health and Safety (H&S) programs, which have started to emerge in U.S. firms to improve employee health and control healthcare expenditures. Given their homogeneity across firms, their well-documented profitability and long-term payoffs, H&S programs provide an interesting setting to revisit the effect of analyst coverage on long-term investments. We find a strong and negative association between analyst coverage and H&S programs. An instrumental variable approach suggests that the effect of analyst coverage is causal. Cross-sectional analysis indicates that the effect of analyst coverage is more pronounced for firms with a high cost of H&S programs relative to earnings, low blockholder ownership or low long-term investor ownership, and with a low distance of realized earnings to analysts' earnings forecasts. Overall, these results lend empirical support to the view that analyst coverage deters long-term investments in H&S programs by exerting pressure on managers to meet short-term earnings forecasts.JEL Classification: G24, G32, G34, M14
- Auditors' client commitment: a reason to stay when organizational and professional commitment are low - Patrick Valéau, Pascal Paillé, Christel Dubrulle p. 75-110 In the context of auditing, client commitment has been defined as a form of dedication contributing to value-added service without compromising objectivity. While the importance of organizational and professional commitment for auditors' retention has already been established, very few studies have examined the effect of client commitment on intention to stay. The present study seeks to extend prior research on client commitment by applying affective, continuance and normative components to this target, in order to examine their additional and interaction effects on intention to stay. Our sample consists of 281 auditors working for CPA firms. We find that normative and continuance client commitment have a positive effect on the intention to stay in the organization, in addition to the effects of affective and continuance organizational commitment. Normative professional commitment has a positive effect, only when organizational commitment is high. Altogether, our results suggest that when organizational and professional commitment falter, client commitment remains the only force pushing auditors to stay, its effect then becoming even stronger. The managerial utility of promoting client commitment to selectively retain service-oriented auditors is discussed.
- Procedural fairness of objective and subjective performance evaluations: Exploring the combined effects of uncertainty and trust - Pascal Langevin, Carla Mendoza p. 111-154 Les recherches empiriques sur les coûts et avantages des évaluations de performance subjectives comparées à objectives ont produit des résultats qui restent mitigés. Pour éclairer ce débat, nous examinons les effets de ces deux types d'évaluation sur la perception de justice procédurale des managers dans différents contextes combinant incertitude et confiance. L'objectif est, d'une part, d'identifier si un type d'évaluation de performance est perçue comme plus juste que l'autre dans certains contextes et, d'autre part, d'explorer comment ces perceptions de justice se forment.Pour traiter ces deux questions, nous analysons les données quantitatives et qualitatives recueillis auprès de 418 managers à l'aide d'un questionnaire basé sur des scénarios. Nos résultats montrent que les évaluations subjectives sont perçues comme plus justes que les évaluations objectives par les managers confrontés à des situations de forte incertitude et qui ont confiance dans leur supérieur. A l'inverse, les évaluations objectives sont perçues comme plus justes dans les situations où incertitude et confiance sont tous les deux faibles. Nos résultats montrent également que les managers forment leur jugement de justice en considérant deux dimensions : ils perçoivent que les évaluations subjectives leur offrent la possibilité d'exprimer leur point de vue, alors que les évaluations purement objectives sont vues comme plus précises et moins biaisées.Globalement, ces résultats suggèrent que les organisations peuvent améliorer leurs systèmes d'évaluation des performances, soit en utilisant les mesures appropriées au contexte, soit en agissant sur l'incertitude et/ou la confiance.Empirical research on the costs and benefits of subjective compared to objective performance evaluations has produced results that remain mixed. To shed light on this debate, we examine the effects of these two types of evaluation on managers' perceived procedural fairness in different contexts combining uncertainty and trust. The purpose is, on the one hand, to identify whether one type of evaluation is perceived as fairer than the other in certain contexts and, on the other hand, to explore how these fairness judgments are formed.To address these two questions, we analyze quantitative and qualitative data collected from 418 managers with a scenario-based questionnaire. Our results show that subjective evaluations are perceived as fairer than objective ones by managers who are faced with situations of high uncertainty and who trust their superior. Conversely, objective evaluations are perceived as fairer in situations where both trust and uncertainty are low. Our results also show that managers form their fairness judgments by considering two dimensions: they perceive that subjective evaluations give them the opportunity to express their point of view, and that objective evaluations are more accurate and less biased.Overall, these results suggest that organizations can improve their performance evaluation systems, either by using criteria appropriate to the context or by acting on uncertainty and/or trust.
