profitability. We focus on debt leverage in the type II agency conflict between the controlling shareholder and outside investors …

profitability and fixed investment. The adverse effects of financing constraints are increasing in the level of product market … constraints tends to reduce the intra-industry mean-reversion of firm profitability. Again, this regularity is not priced: highly …

,848 repurchases made by 352 French firms, we show that corporate share repurchases have a significant adverse effect on liquidity as …

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 improved stock market liquidity after public offerings and standby …

We examine how ownership concentration and the separation of ownership and control affect market liquidity in France …. We find that firms with a large insider blockholder exhibit significantly lower liquidity. Different methods of … concentrating control affect liquidity in different ways. Pyramid structures negatively affect liquidity for all pyramiding firms …