Purpose: This paper empirically examines the catering theory of Baker and Wurgler (2004) in the particular context of France. Considering the characteristics of French market – known for its high concentration of capital – it attempts to highlight the role family control plays in the...

The aim of this paper is to test the relationship between average returns and beta of French stocks over the last six years (1990-1995). Numerous and contradictory studies recently published in the American literature have cast doubts as to whether beta plays a role at all when it comes to...