Qualité de l’information financière et comportement d’investissement: Cas des entreprises tunisiennes cotées

The aim of this paper is to study the impact of financial reporting quality on firms’ investment behavior. We apprehend the characteristics of the Tunisian context through an empirical study of 25 listed companies over the period 1997 to 2009. The findings confirm that some characteristics of financial information, namely, reliability, appear to increase the investment inefficiency, while others, i.e., conservatism, prove to have no significant effect. We attribute such results mainly to the contextual specificities of Tunisian environment, such as, the institutional setting, the cultural realities and the characteristics of corporate governance systems.