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SMEs and the challenge to go public: evidence from a recent survey

Author

Listed:
  • Marianna Caccavaio

    (LUISS Guido Carli University)

  • Jacopo Carmassi

    (LUISS Guido Carli University)

  • Giorgio Di Giorgio

    (LUISS Guido Carli University)

  • Marco Spallone

    (Universitˆ degli studi di Chieti e Pescara and LUISS Guido Carli University of Rome)

Abstract

Italian SMEs go public much less than SMEs located in other European countries, even though their relevance for the national economy is relatively higher in terms of employment and value added. Why do Italian SMEs so scarcely rely on equity as an external source of finance, despite the option of getting listed on SME-dedicated stock market segments? In this paper we address this question by analyzing the responses to a questionnaire that we submitted to a sample of listed firms and institutional investors. We also suggest policy interventions to provide Italian SMEs with the appropriate incentives for listing.

Suggested Citation

  • Marianna Caccavaio & Jacopo Carmassi & Giorgio Di Giorgio & Marco Spallone, 2012. "SMEs and the challenge to go public: evidence from a recent survey," Working Papers CASMEF 1202, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    • Handle: RePEc:lui:casmef:1202
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    SMEs; IPO; equity financing; financial constraints.;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G3 - Financial Economics - - Corporate Finance and Governance

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