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L’impact de l’admission à la cote sur les performances économiques des entreprises : Le cas du Nouveau Marché français
[The operating performance of French IPO firms]

Author

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  • Stephanie, Serve

Abstract

This article investigates the change in operating performance of 115 firms that go public on the French New Market over the period 1996-2000. A significant decline in operating performance subsequent to the Initial Public Offering (IPO) is found. Companies appears to sustain sales growth but not capital expenditure after the IPO. Additionally, there is a significant negative relation between post-IPO change in operating performance and equity retention by the original ownership.

Suggested Citation

  • Stephanie, Serve, 2004. "L’impact de l’admission à la cote sur les performances économiques des entreprises : Le cas du Nouveau Marché français [The operating performance of French IPO firms]," MPRA Paper 4304, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:4304
    as

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    File URL: https://mpra.ub.uni-muenchen.de/4304/1/MPRA_paper_4304.pdf
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    References listed on IDEAS

    as
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    Cited by:

    1. Sophie Pommet, 2013. "The Impact of Venture Capital Investment Duration on the Survival of French IPOs," GREDEG Working Papers 2013-32, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    2. Sophie Pommet, 2013. "The impact of venture capital investment duration on the survival of French IPOs," Working Papers halshs-00923957, HAL.

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    More about this item

    Keywords

    French; initial public offerings; IPO; operating performance; ownership structure;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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