This paper examines open market stock repurchases in France. We find a positive average market reaction to the repurchase announcement. However, the magnitude of the price reaction is found to depend on a number of corporate governance structure measures. The positive aspects of the announcement...

<title>Abstract</title> This article analyses the QBIC programme introduced in Quebec to help capitalize SMEs. Taxpayers that invest in holding companies that finance one or more growth corporations receive substantial tax credits. Companies financed by this programme are apparently of mediocre quality. After...

<title>Abstract</title> This exploratory study attempts to estimate the external financing costs (EFCs) for a sample of new technology-based firms (NTBFs). A large body of literature describes the constraints these companies face when trying to obtain outside equity from venture capitalists or...

In several countries including Canada, public policies related to the financing of emerging companies involve numerous programs and large amounts of money. Major problems remain in this area, and government efforts are not always successful. In April 2010, a symposium entitled “Entrepreneurial...

Cet article traite deS DIFFERENCES DANS LE NIVEAU DES "PRICE/EARNINGS RATIOS"