L’ouverture des économies ne s’est pas, dans tous les cas, accompagnée d’une intensification spontanée de la concurrence. Dans certains secteurs, l'ouverture commerciale a sans doute favorisé la concentration où l’apparition de nouveaux monopoles ou duopoles mondiaux. Loin...

Cet article évalue les performances des firmes multinationales dans l’industrie manu- facturière française, et les compare à celles des entreprises uniquement exportatrices et domestiques. Les primes à l’implantation s’avèrent très significatives et dépassent lar- gement les primes...

This paper examines the impact of market liquidity on seasoned equity offerings (SEO) characteristics in France. We find that, besides blockholders’ takeup, liquidity is an important determinant of SEO flotation method choice. We document higher direct equity offering flotation costs, but also...

This paper contributes to the resolution of the rights offer paradox, using a database of French SEOs. We first document higher direct flotation costs, but also improved stock market liquidity after public offerings and standby rights relative to uninsured rights. We find that blockholder...

This paper contributes to the resolution of the rights offer paradox, using a database of French SEOs. We first document higher direct flotation costs, but also improved stock market liquidity after public offerings and standby rights relative to uninsured rights. We find that blockholder...

This paper contributes to the resolution of the rights offer paradox, using a database of French SEOs. We first document higher direct flotation costs, but also improved stock market liquidity after public offerings and standby rights relative to uninsured rights. We find that blockholder...