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The operating performance of French IPO firms

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Author Info
Stephanie, Serve

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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.

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File URL: http://mpra.ub.uni-muenchen.de/4304/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 4304.

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Date of creation: Jun 2004
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Handle: RePEc:pra:mprapa:4304

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Related research
Keywords: French initial public offerings IPO operating performance ownership structure

Find related papers by JEL classification:
G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure
G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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