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Le financement d'une start-up:L'Air Liquide 1898 - 1913


  • Muriel Petit-Konczyk

    () (Université de Lille 2)


(VF)Au début du 20e siècle, L'air Liquide est une jeune entreprise française créée pour appliquer à l'échelle industrielle les découvertes de la chimie minérale : la liquéfaction de l'air. Les différentes étapes du financement de cette "start-up" ou "société en germe de développement" à l'époque, sont analysées dans le contexte d'incertitude sur la technologie et la production future avec l'implication des différentes classes d'investisseurs et le recours au marché Over The Counter:"la Coulisse". (VA) At the beginning of the 20th century, L'Air Liquide was a young French company, founding to apply on an industrial scale, the discoveries in mineral chemistry : liquefaction of air. The different stages in its financing are analyzed in the context of the uncertainty of the technology and future production with the implication of the different classes of investors and the Over The Counter market:"la Coulisse".

Suggested Citation

  • Muriel Petit-Konczyk, 2003. "Le financement d'une start-up:L'Air Liquide 1898 - 1913," Revue Finance Contrôle Stratégie,, vol. 6(4), pages 25-58, December.
  • Handle: RePEc:dij:revfcs:v:6:y:2003:i:q4:p:25-58

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    References listed on IDEAS

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    More about this item


    nouvelles technologies; finance historique; la Coulisse; sociétés françaises; start-up; business angel; financing stage; OTC market; French financial history.;

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • N80 - Economic History - - Micro-Business History - - - General, International, or Comparative


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