Does the Alternative Investment Market nurture firm growth ? A comparison between listed and private companies

Valérie Revest () and Sandro Sapio ()
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Valérie Revest: TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique

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Abstract: The creation of stock market segments with low admission requirements was welcomed in the 1990s as an essential move to release small- and medium-sized enterprises from their dependency on banks for external funding, thereby removing the financial barriers that hinder their growth and competitiveness. But does easier access to public equity really translate into superior real performance? We explore this issue by focusing on the Alternative Investment Market (AIM), a "junior" segment of the London Stock Exchange that has experienced long-lasting growth in capitalization. (...)

Keywords: Alternative Investment Market; AIM (search for similar items in EconPapers)
Date: 2013-07-05
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Citations: View citations in EconPapers (5)

Published in Industrial and Corporate Change, 2013, 22 (4), pp.953-979. ⟨10.1093/icc/dtt021⟩

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Journal Article: Does the alternative investment market nurture firm growth? A comparison between listed and private companies (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00843011

DOI: 10.1093/icc/dtt021

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