IDEAS home Printed from https://ideas.repec.org/p/hal/journl/halshs-00584445.html
   My bibliography  Save this paper

L'Introduction Des Societes Internet En Bourse : Opportunisme Ou Necessite Pour Les Actionnaires Et Capital-Risqueurs ?

Author

Listed:
  • Patrick Boisselier

    (CRIFP - Centre de Recherche en Ingénierie Financière et Finances Publiques - UNS - Université Nice Sophia Antipolis (1965 - 2019))

  • Dominique Dufour

    (CRIFP - Centre de Recherche en Ingénierie Financière et Finances Publiques - UNS - Université Nice Sophia Antipolis (1965 - 2019))

Abstract

La valeur des actions des sociétés de la nouvelle économie a augmenté, puis diminué très fortement au cours des derniers mois. Les managers, notamment ceux des sociétés Internet, ont-ils réellement tenté de profiter d'un effet d'aubaine au moment de l'introduction, pour réaliser une plusvalue " spéculative " ? Cette étude tente de répondre à cette question.

Suggested Citation

  • Patrick Boisselier & Dominique Dufour, 2002. "L'Introduction Des Societes Internet En Bourse : Opportunisme Ou Necessite Pour Les Actionnaires Et Capital-Risqueurs ?," Post-Print halshs-00584445, HAL.
    • Handle: RePEc:hal:journl:halshs-00584445
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00584445
    as

    Download full text from publisher

    File URL: https://shs.hal.science/halshs-00584445/document
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jain, Bharat A & Kini, Omesh, 1994. "The Post-Issue Operating Performance of IPO Firms," Journal of Finance, American Finance Association, vol. 49(5), pages 1699-1726, December.
    2. Philippe Desbrières & Géraldine Broye, 2000. "Critères d'évaluation des investisseurs en capital:le cas français," Revue Finance Contrôle Stratégie, revues.org, vol. 3(3), pages 5-43, September.
    3. Bruno Jullien & Alexandre Gaudeul, 2001. "E-commerce. Quelques éléments d'économie industrielle," Revue Économique, Programme National Persée, vol. 52(1), pages 97-117.
    4. Schultz, Paul & Zaman, Mir, 2001. "Do the individuals closest to internet firms believe they are overvalued," Journal of Financial Economics, Elsevier, vol. 59(3), pages 347-381, March.
    5. Degeorge, Francois & Zeckhauser, Richard, 1993. "The Reverse LBO Decision and Firm Performance: Theory and Evidence," Journal of Finance, American Finance Association, vol. 48(4), pages 1323-1348, September.
    6. Marco Pagano & Fabio Panetta & and Luigi Zingales, 1998. "Why Do Companies Go Public? An Empirical Analysis," Journal of Finance, American Finance Association, vol. 53(1), pages 27-64, February.
    7. Dan Lovallo & Colin Camerer, 1999. "Overconfidence and Excess Entry: An Experimental Approach," American Economic Review, American Economic Association, vol. 89(1), pages 306-318, March.
    8. Ulrich Hege, 2001. "L'évaluation et le financement des start-up Internet," Revue économique, Presses de Sciences-Po, vol. 52(7), pages 291-312.
    9. Lerner, Joshua, 1994. "Venture capitalists and the decision to go public," Journal of Financial Economics, Elsevier, vol. 35(3), pages 293-316, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Patrick Boisselier & Dominique Dufour, 2007. "Bulle financière et introduction des sociétés Internet au Nouveau marché," Revue Finance Contrôle Stratégie, revues.org, vol. 10(1), pages 67-93, March.
    2. Laura Bottazzi & Marco da Rin, 2003. "Financing Entrepreneurial Firms in Europe: Facts, Issues, and Research Agenda," CESifo Working Paper Series 958, CESifo.
    3. Xie, Xiaoying, 2010. "Are publicly held firms less efficient? Evidence from the US property-liability insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1549-1563, July.
    4. &Lubos Pástor & Lucian A. Taylor & Pietro Veronesi, 2009. "Entrepreneurial Learning, the IPO Decision, and the Post-IPO Drop in Firm Profitability," The Review of Financial Studies, Society for Financial Studies, vol. 22(8), pages 3005-3046, August.
    5. 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.
    6. Bouis, Romain, 2003. "IPOs cycle and investment in high-tech industries," CFS Working Paper Series 2003/47, Center for Financial Studies (CFS).
    7. Ying Xiao & Chris Yung, 2015. "Extrapolation Errors in IPOs," Financial Management, Financial Management Association International, vol. 44(4), pages 713-751, October.
    8. Jay R. Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing, and Allocations," Journal of Finance, American Finance Association, vol. 57(4), pages 1795-1828, August.
    9. Malcolm Baker & Richard S. Ruback & Jeffrey Wurgler, 2004. "Behavioral Corporate Finance: A Survey," NBER Working Papers 10863, National Bureau of Economic Research, Inc.
    10. Gian Luca Clementi, "undated". "Ipos and The Growth of Firms," GSIA Working Papers 2002-E8, Carnegie Mellon University, Tepper School of Business.
    11. Szyszka Adam, 2014. "Factors Influencing IPO Decisions. Do Corporate Managers Use Market and Corporate Timing? A Survey," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 42(1), pages 30-39, June.
    12. Belén Gill de Albornoz & Peter F. Pope, 2004. "The Determinants Of The Going Public Decision: Evidence From The U.K," Working Papers. Serie AD 2004-22, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    13. Thomas J. Chemmanur & Shan He & Debarshi K. Nandy, 2010. "The Going-Public Decision and the Product Market," The Review of Financial Studies, Society for Financial Studies, vol. 23(5), pages 1855-1908.
    14. Kutsuna, Kenji & Okamura, Hideo & Cowling, Marc, 2002. "Ownership structure pre- and post-IPOs and the operating performance of JASDAQ companies," Pacific-Basin Finance Journal, Elsevier, vol. 10(2), pages 163-181, April.
    15. Jean Helwege & J. Nellie Liang, 2003. "Initial public offerings in hot and cold markets," Finance and Economics Discussion Series 2003-04, Board of Governors of the Federal Reserve System (U.S.).
    16. Lerner, Josh & Shane, Hilary & Tsai, Alexander, 2003. "Do equity financing cycles matter? evidence from biotechnology alliances," Journal of Financial Economics, Elsevier, vol. 67(3), pages 411-446, March.
    17. Li, Bo & Megginson, William L. & Shen, Zhe & Sun, Qian, 2019. "Privatization effect versus listing effect: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 56(C), pages 369-394.
    18. Ber, Hedva & Yafeh, Yishay & Yosha, Oved, 2001. "Conflict of interest in universal banking: Bank lending, stock underwriting, and fund management," Journal of Monetary Economics, Elsevier, vol. 47(1), pages 189-218, February.
    19. Tobias Schmidt & Michael J. Dowling & Christian Lechner, 2006. "The Impact of Initial Public Offerings on the External Growth Strategies of Entrepreneurial Firms," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 11(2), pages 95-110, Summer.
    20. Malcolm Baker & Jeffrey Wurgler, 2000. "The Equity Share in New Issues and Aggregate Stock Returns," Journal of Finance, American Finance Association, vol. 55(5), pages 2219-2257, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00584445. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.