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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
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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," Working Papers halshs-00923957, HAL.
    2. 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.

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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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