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L’impact de l’admission à la cote sur les performances économiques des entreprises : Le cas du Nouveau Marché français

Stephanie, Serve (2004): L’impact de l’admission à la cote sur les performances économiques des entreprises : Le cas du Nouveau Marché français.

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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.

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