How do firms finance their investment?

Comment les entreprises financent-elles leur investissement ?

Mathias Lé and Frederic Vinas

Eco Notepad (in progress) from Banque de France

Abstract: We analyse how French firms financed their investment over the 1992-2016 period. We show that the funding mix varied significantly according to the size of the firms, whether or not they were listed on the stock exchange and the nature of the investments undertaken. These results suggest that the Capital Market Union could foster business investment by developing equity financing.

Nous analysons les modalités de financement de l’investissement des entreprises françaises sur la période 1992-2016. Nous montrons que celles-ci varient sensiblement selon la taille des entreprises, la cotation ou non en bourse et la nature des investissements entrepris. Ces résultats suggèrent que l’Union des Marchés de Capitaux pourrait favoriser l’investissement des entreprises en développant le financement par fonds propres.

Date: 2023-02-06
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:econot:303

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