Is there a Management of the Float and the Offer Price during an Initial Public Offering on Euronext Paris?

La gestion managériale du flottant ou du prix d’offre: un enjeu de réussite de l’introduction en bourse sur Euronext Paris ?

Evelyne Poincelot () and Dominique Poincelot ()
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Evelyne Poincelot: CREGO - Centre de Recherche en Gestion des Organisations (EA 7317) - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UB - Université de Bourgogne - UBFC - Université Bourgogne Franche-Comté [COMUE] - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE]
Dominique Poincelot: CREGO - Centre de Recherche en Gestion des Organisations (EA 7317) - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UB - Université de Bourgogne - UBFC - Université Bourgogne Franche-Comté [COMUE] - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE]

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Abstract: The purpose of this article is to examine to what extent the motivations to go public and the subsequent impact on performance can affect the choice of the floating rate and the price offered to the initial public offering. From a sample of 75 french companies introduced on Euronext Paris over the period April 2005-February 2014, we obtain significant results between some explanatory variables (factor of dilution, float) and underpricing. The percentage of transfer of the main shareholders also explains the rate of float.

Keywords: Initial public offering; Underpricing; Float; Offering price; Introduction en bourse; Flottant; Décote; Prix d’offre (search for similar items in EconPapers)
Date: 2017-04-19
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Published in Finance Contrôle Stratégie, 2017, 20 (1), ⟨10.4000/fcs.1893⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01543035

DOI: 10.4000/fcs.1893

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