SMEs and the challenge to go public: evidence from a recent survey

Marianna Caccavaio (), Jacopo Carmassi (), Giorgio Di Giorgio and Marco Spallone ()
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Marianna Caccavaio: LUISS Guido Carli University
Jacopo Carmassi: LUISS Guido Carli University

No 1202, Working Papers CASMEF from Dipartimento di Economia e Finanza, LUISS Guido Carli

Abstract: Italian SMEs go public much less than SMEs located in other European countries, even though their relevance for the national economy is relatively higher in terms of employment and value added. Why do Italian SMEs so scarcely rely on equity as an external source of finance, despite the option of getting listed on SME-dedicated stock market segments? In this paper we address this question by analyzing the responses to a questionnaire that we submitted to a sample of listed firms and institutional investors. We also suggest policy interventions to provide Italian SMEs with the appropriate incentives for listing.

Keywords: SMEs; IPO; equity financing; financial constraints. (search for similar items in EconPapers)
JEL-codes: G1 G3 (search for similar items in EconPapers)
Date: 2012
New Economics Papers: this item is included in nep-cfn, nep-ent, nep-eur and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:lui:casmef:1202

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