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Do Market Listing And Size Entail Behavioural Differences?


Author Info

  • Bernard BELLETANTE

    (EM Lyon)

  • Bernard PARANQUE

    (Banque de France)


It is possible to study companies according to their methods of gaining access to finance, and in particular the stock market. Two approaches are possible. The first looks at the organisation of such access through the relationships built up by the company with suppliers of capital, enabling the financial territory of the company to be defined. The second approach, which does not exclude the first, is to compare companies according the degree to which they enjoy access to financial markets, which can be defined in terms of whether a company is listed on the stock market or not. Both approaches have been tested using data for recent years. The purpose of this paper is to examine firstly the differences in access to financial markets between large and small companies, and secondly the effects and constraints generated by the fact of being listed (comparison of listed and unlisted companies).

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Bibliographic Info

Paper provided by EconWPA in its series Finance with number 0004012.

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Length: 10 pages
Date of creation: 29 Oct 2000
Date of revision: 29 Oct 2000
Handle: RePEc:wpa:wuwpfi:0004012

Note: Type of Document - pdf; prepared on PC; pages: 10
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Related research

Keywords: sme's; listed; unlisted; IPO; corporate; finance;

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  1. Stewart C. Myers, 1984. "Capital Structure Puzzle," NBER Working Papers 1393, National Bureau of Economic Research, Inc.
  2. Myers, Stewart C, 1984. " The Capital Structure Puzzle," Journal of Finance, American Finance Association, vol. 39(3), pages 575-92, July.
  3. Myers, Stewart C., 1984. "Capital structure puzzle," Working papers 1548-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
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Cited by:
  1. Richard Shearmur, 2001. "Financial Flows and Places: The Case of Monreal," Canadian Public Policy, University of Toronto Press, vol. 27(2), pages 219-233, June.


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