Droite de marché des titres et performances des sociétés holdings pures françaises

Francine Roure and Alain Butery

Revue Économique, 1982, vol. 33, issue 3, 497-540

Abstract: [fre] une deuxième partie, nous présentons des estimations des droites de marché, étape nécessaire à l'évaluation des performances. Les résultats, présentés dans la troisième partie, montrent que ces performances ne sont pas sensiblement différentes de celles des autres sociétés. [eng] Securities market line and performance . Of French cure holding companies. Frangine Roure, Alain Butery. The number of Pure Holding Campanies, as heads of french industrials and financial groups, has greatly increased in the last years. Is that development due to a greater profitability of that form of corporation, compared with other ones ? To answer that question tve have used the Jensen, Treynor and Sharpe indexes, on the basis of french Stock Exchange Weekly datas (from 1969 to 1979). A first part discuss the controversery on the validity of those indexes. In the second part we estimate the securities market lines as a necessary step for performance analysis. Results, presented in the third part show that these performances (are not very different from other forms of corporation ones.

Date: 1982
Note: DOI:10.3406/reco.1982.408667
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