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The short-term timing of initial public offerings

Bouis, Romain - Université Paris-Dauphine (Paris IX) - 2009

This paper examines the effect of stock market conditions on the waiting time of initial public offering (IPO) candidates, from the date firms file a registration statement with the Securities and Exchange Commission (SEC) to the effective IPO date. I find that issuers are going public faster...

Persistent link: https://www.econbiz.de/10010735777

Les procédures d'introduction en Bourse en Europe : évolution des pratiques et perspectives

Labégorre, Florence; Gajewski, Jean-François; … - Université Paris-Dauphine (Paris IX) - 2006

Because IPO mechanisms determine both the initial trading price and the allocation of newly-listed firms' shares, they have financial and strategic consequences for shareholders. For that reason, it is of interest to analyse the relative advantages and disadvantages of the different procedures...

Persistent link: https://www.econbiz.de/10010861383

Why do Companies Include Warrants in Seasoned Equity Offerings: The case of French Unit Offerings

Lasfer, Meziane; Ginglinger, Edith; Gajewski, Jean-François - Université Paris-Dauphine (Paris IX) - 2005

We analyse the reasons why companies issue units when they raise additional capital. In contrast to previous evidence, our results show that units are not offered to mitigate the agency conflicts or to signal security mispricing as they are predominantly issued during cold periods, in public...

Persistent link: https://www.econbiz.de/10010861624

Corporate Venturing, allocation of talent, and competition for star managers

De Bettignies, Jean-Etienne; Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2008

We provide new rationales for corporate venturing (CV), based on competition for talented managers. As returns to … managerial compensation, to which firms respond by increasing the power of incentives. Managers increase effort, prompting firms … become large, CV emerges as a way to recruit/retain managers who would otherwise choose alternative employment. We derive …

Persistent link: https://www.econbiz.de/10010905343

L'impact de la crise de 2008 sur le rationnement du crédit des PME françaises

Alexandre, Hervé; Buisson, Hélène - Université Paris-Dauphine (Paris IX) - 2014

Credit rationing is a classical phenomenon studied for a long period but the last financial crisis put it in the news. SMEs are particularly affected by this phenomenon and may be the main victims of the financial crisis and economic situation. This paper tries to estimate the scale of credit...

Persistent link: https://www.econbiz.de/10010960576

Les opérations de metallgesellschaft sur les marchés à terme de produits pétroliers : spéculation ou couverture ?

Lautier, Delphine - Université Paris-Dauphine (Paris IX) - 1998

An analysis focusing on the financial aspects is proposed for the strategy initiated by Metallgesellschaft (MG) in 1993-94 on American petroleum markets. According to a specific definition of hedging, and on the basis of a detailed survey of the facts, this strategy is described as speculative....

Persistent link: https://www.econbiz.de/10011072448

Investor Affiliation, Experience and Venture Capital Financial Contracts

Joly, Vanessa - Université Paris-Dauphine (Paris IX) - 2010

This paper explores the relationship between venture capitalists (VCs)’ financial contracts and the characteristics of these VCs. Analyzing VCs' responses to our questionnaire, we find that VCs’ contractual behaviors differ according to affiliation and experience. VCs working for independent...

Persistent link: https://www.econbiz.de/10011073471

Corporate Venture Capital: The Upside of Failure and Competition for Talent

De bettignies, Jean-Etienne; Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2003

We consider the motives for a firm to engage in corporate venturing. We argue that in case of failure of a new venture, corporate venture capitalists (CVC) have a strategic advantage relative to traditional venture capitalists (VC) in creating rents after rehiring or refinancing the...

Persistent link: https://www.econbiz.de/10010706391

Funds-flow statements and cash-flow accounting in France

Boussard, Daniel; Colasse, Bernard - Université Paris-Dauphine (Paris IX) - 1992

It can be stated that, in France, a conventionality and a form of complacency probably stemmed from the standardization process. As a consequence, independent research has tended so far to concentrate more on fields that do not reside within the confines of the works of the standard-setting...

Persistent link: https://www.econbiz.de/10010706545

Why do companies include warrants in seasoned equity offerings?

Lasfer, Meziane; Gajewski, Jean-François; Ginglinger, Edith - Université Paris-Dauphine (Paris IX) - 2007

We analyze the reasons why companies issue units when they raise additional capital. We find that, in contrast to previous evidence, units are not offered to mitigate the agency conflicts or to signal security mispricing as they are predominantly issued during cold periods, in public rather than...

Persistent link: https://www.econbiz.de/10010707472