6533b85dfe1ef96bd12be92e
RESEARCH PRODUCT
Rachats d'actions et augmentation de capital : une analyse de leur combinaison appliquée au marché français
Dominique PoincelotEvelyne Poincelotsubject
040101 forestry050208 financeequity issues05 social sciencesstructure de propriété04 agricultural and veterinary sciencesGeneral Medicinestock repurchases0502 economics and business0401 agriculture forestry and fisheries[SHS.GESTION]Humanities and Social Sciences/Business administrationaugmentation de capitalownership structure[SHS.GESTION] Humanities and Social Sciences/Business administrationrachat d'actionsdescription
Noting that over 22% of capital increases thrown at the French financial market are made when a share repurchase program is in progress, we propose an original study of the combination of the two operations. From 50 operations for the period 1999-2006, we test if the buybacks "prepare" the market before launching the capital increase or means to change the distribution of voting rights. Our results infirm these two hypotheses and confirm rather the proposition of a fortuitous concomitance.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2013-09-01 |