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Les rachats d'actions des sociétés cotées sont-ils vraiment créateurs de valeur pour les actionnaires ?: La fin d'un mythe savamment entretenu

Les rachats d'actions des sociétés cotées sont-ils vraiment créateurs de valeur pour les actionnaires ?: La fin d'un mythe savamment entretenu

          
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About the Book

Si aux Etats-Unis, cela fait près de 90 ans que les sociétés cotées sont autorisées à racheter leurs propres actions, la France ne l'autorise que depuis à peine 20 ans.

Depuis plusieurs années, cette possibilité offerte aux sociétés cotées rencontre un vif succès de la part des dirigeants. Les rachats d'actions tendent même à s'imposer en termes d'importance au détriment des dividendes versés aux actionnaires.

Pour justifier de telles mesures, les dirigeants de ces entreprises cotées brandissent le plus souvent l'argument de la création de valeur pour les actionnaires.

Mais qu'en est-il vraiment en pratique ?

Alors que certaines sociétés cotées consacrent des centaines de milliards de dollars ou d'euros à des rachats d'actions et vont même parfois jusqu'à s'endetter pour le faire, il est légitime de se demander quelle valeur ces programmes de rachat d'actions génèrent vraiment pour les actionnaires.

Dans cette étude synthétique mais sans concession, l'auteur lève le voile sur les véritables motivations des dirigeants de sociétés cotées pour la mise en oeuvre de programmes de rachat d'actions.

Fort des résultats de cette analyse, l'auteur émet également des recommandations pour résoudre les effets pervers du court-termisme de la finance boursière.
About the Author: Thibault de la Baronnière est un expert des domaines financiers, immobiliers et des nouvelles technologies au niveau européen.

Il est à la fois entrepreneur, investisseur et conférencier dans ces domaines.

Diplômé de l'école des Hautes Études Commerciales (HEC Paris) d'un Master of Science in Management avec spécialisation en Finance et du Diplôme Supérieur de Comptabilité et de Gestion (DSCG), Thibault a notamment travaillé chez J.P. Morgan à Paris comme analyste financier. Il a ensuite travaillé comme Directeur des Investissements d'un groupe familial international présent dans les secteurs financiers et immobiliers. Depuis, Thibault n'a cessé d'exercer dans ces domaines.

Thibault est également officier de réserve dans la Marine Nationale française avec le grade d'enseigne de vaisseau (lieutenant).

Par le passé, Thibault est notamment intervenu régulièrement comme chroniqueur sur les sujets économiques et financiers sur la chaîne i24News.

Thibault enseigne en outre la gestion d'actifs appliquée à l'immobilier à l'École Nationale Supérieure du Management Immobilier.

Thibault parle couramment français, anglais, espagnol et parle également hébreu.


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Product Details
  • ISBN-13: 9781983672187
  • Publisher: Createspace Independent Publishing Platform
  • Publisher Imprint: Createspace Independent Publishing Platform
  • Height: 229 mm
  • No of Pages: 78
  • Spine Width: 4 mm
  • Weight: 118 gr
  • ISBN-10: 1983672181
  • Publisher Date: 09 Jan 2018
  • Binding: Paperback
  • Language: French
  • Returnable: N
  • Sub Title: La fin d'un mythe savamment entretenu
  • Width: 152 mm


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