Investissements français aux États-Unis, stratégies de croissance externe et réactions du marché boursier

Pierre-Xavier Meschi and Emmanuel Metais ()
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Emmanuel Metais: Groupe Edhec

Revue Finance Contrôle Stratégie, 2002, vol. 5, issue 1, pages 129-165

Abstract: The aim of this article is to provide research insights on the viability of French Direct Investment in the United States. On the basis of an event study methodology, this article presents empirical observations of the French Stock Market's reaction to the announcements of French takeovers of US firms, of the formation of US-French joint ventures, and of the set- ting up of French subsidiaries. The favourable, unfavourable or indifferent stock market reactions indicate the types of investment which create or destroy value for shareholders. Moreover, this research points out the rationale of the French stock market regarding French direct Investments in the United States.

Keywords: French direct investment in the US; internationalisation strategies; shareholder value; abnormal returns. (search for similar items in EconPapers)
JEL-codes: G39 L19 (search for similar items in EconPapers)
Date: 2002

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Persistent link: http://EconPapers.repec.org/RePEc:dij:revfcs:v:5:y:2002:i:q1:p:129-165

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