Information sur les franchissements de seuils. Des conséquences positives sur la valorisation des entreprises
Marie-Cecile Fagart and
Saïd Souam ()
Revue économique, 2009, vol. 60, issue 3, 679-691
In this article, we analyze the characteristics of legal thresholds crossings in France during the years 2001 through 2003. Our data set created using the publications of the financial authorities and economic and financial data from Bloomberg comprises a total of 2.396 operations and displays a high number of 5% and 10% thresholds crossings initiated by companies from the financial sector and funds. An event study of crossings leading to an increase in the holdings shows that they have positive wealth effects for target companies, in particular in the case of the 10% threshold crossings resulting from an active acquiring policy from a fund. These findings do not confirm the hypothesis of operations conducted by self interested operators to the detriment of minority shareholders. Classification JEL : G32, G34.
JEL-codes: G32 G34 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cai:recosp:reco_603_0679
Access Statistics for this article
More articles in Revue économique from Presses de Sciences-Po
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().