Entrepreneurial dimensions of the growth of small companies
The aim of this paper is to highlight the main features of entrepreneurial businesses and to shed light on the determinants of the growth of small firms undertaking an IPO. For this purpose, we centre our attention on companies going public on the Alternative Investment Market (AIM), a market dedicated to young and growing companies. In the paper we investigate the post-IPO performance of 665 listed firms that have gone public during the period from 1995 to 2006. In the work the factors influencing business performance are inferred from a broad range of variables (e.g. accounting information, CEO and board age, educational background and past experience). Our findings confirm that small companies listed on the AIM grow at a faster rate after the IPO. It seems that intangible assets are important determinants of their fast growth. The results of this work underline the relevance of secondary markets, such as the AIM, as a valuable alternative to traditional financial institutions in providing capital to small and entrepreneurial companies.
|Date of creation:||Feb 2009|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.unito.it/|
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:uto:labeco:200902. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Piero Cavaleri)or (Marina Grazioli)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.