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adverse effect on liquidity only for the smallest and least liquid firms. …
Persistent link: https://www.econbiz.de/10010861426
adverse effect on liquidity only for the smallest and least liquid firms. …
Persistent link: https://www.econbiz.de/10010708506
Persistent link: https://www.econbiz.de/10010706619
Arrivées en France avec l'émission d'Alcatel Optronics en 2000, les actions reflets (ou tracking stocks) sont utilisées aux Etats-Unis depuis 1984. Après une présentation de l'intérêt d'une telle émission, notamment par rapport à une introduction en bourse de filiale (carve-out), cet...
Persistent link: https://www.econbiz.de/10011072340
Persistent link: https://www.econbiz.de/10011073027
,848 repurchases made by 352 French firms, we show that corporate share repurchases have a significant adverse effect on liquidity as …
Persistent link: https://www.econbiz.de/10010744750
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 …
Persistent link: https://www.econbiz.de/10010744752
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 …
Persistent link: https://www.econbiz.de/10010706821
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 renouncements to subscribe to new shares and stock market liquidity are … that public offerings are cost effective and more liquidity improving than standby rights whereas an uninsured rights …
Persistent link: https://www.econbiz.de/10010706993
,848 repurchases made by 352 French firms,we show that corporate share repurchases have a significant adverse effect on liquidity as …
Persistent link: https://www.econbiz.de/10010707251