Valorisation stratégique par contextes de valeur: le cas des introductions sur le nouveau marché

Salim Chahine and Jean-Pierre Mathieu ()
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Salim Chahine: Audencia Recherche - Audencia Business School
Jean-Pierre Mathieu: Audencia Recherche - Audencia Business School

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Abstract: Study of the chapter related to firms' activity in the preliminary prospectuses for 50 listed companies in the "Nouveau marché" shows the existence of 5 disclosure policies. Except for the P/E ratio, empirical study confirms the strategic information effect on value explanation, measured by the Market-to-Book, Firm Value-to-Sales revenue, Firm Value-to-EBIT. Finally, Cumulative Abnormal Return over ten and sixty-day periods are positively associated with the disclosure policy of strategic information.

Keywords: Initial public offerings; Valuation; Strategic information; Disclosure policy; Initial underpricing; Introduction en bourse; Valeur; Informations stratégiques; Comportement informationnel; Rentabilité anormale (search for similar items in EconPapers)
Date: 2003-06
Note: View the original document on HAL open archive server: https://hal.science/hal-00765190
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Published in Finance Contrôle Stratégie, 2003, 6 (2), pp.91-114

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