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Alternext : un marché au bilan contrasté

Abstract : Alternext: A Market with Mixed ResultsAlternext was set up in 2005 and was intended to help small and medium enterprises (SMEs) finance their development. Using a sample of SMEs that went public on Alternext during the period 2005-2009, the aim of this article is threefold: firstly, it sheds a light on the operational and financial performances of these firms before and after the initial public offering; secondly, it gives evidence of a short term undervaluation and a long term underperformance over a 3-year period after the IPO. Finally, it assesses the activity on the primary market of Alternext from the date of the IPO until the 3rd anniversary.
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Submitted on : Friday, March 30, 2018 - 10:34:20 AM
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Emmanuel Boutron, Béatrice de Séverac, Philippe Dessertine. Alternext : un marché au bilan contrasté. Revue d'économie financière, Association d'économie financière 2014, 114 (2), ⟨10.3917/ecofi.114.0149⟩. ⟨hal-01754800⟩



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