Bertoni, Fabio; Andrea Randone, Pier - In: The rise and fall of Europe's new stock markets, (pp. 61-79). 2004
This chapter analyses how capital is raised and employed by a sample of 28 European biotechnology companies listed on Europe’s new stock markets from 1996 to 2000. We find that biotechnology companies rely heavily on IPO proceeds in order to finance their growth. We compare the behaviour of...