« Is the proof of the pudding in the eating? » Comparaison entre l'Alternative Investment Market et Alternext (notice n° 593620)
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| control field | 20250121150553.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Lagneau-Ymonet, Paul |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | « Is the proof of the pudding in the eating? » Comparaison entre l'Alternative Investment Market et Alternext |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2014.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 31 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | En matière d’organisation boursière dédiée aux petites et moyennes entreprises (PME), le succès de l’Alternative Investment Market (AIM) aurait établi ce segment du London Stock Exchange comme le benchmark, dont l’Alternext serait une déclinaison manquée. Cet article tend à infirmer cette proposition. D’abord, la performance d’Alternext (2005-2012) est moins mauvaise que ce qu’ont pu faire accroire les critiques formulées, notamment lorsqu’on la compare à celle de l’AIM au même stade de développement. Ensuite, les caractéristiques de l’AIM ne permettent pas de l’ériger en modèle d’organisation boursière dédiée aux entreprises moyennes ou petites : le succès semble se fonder moins sur les services que l’AIM fournit à des sociétés modestes ou innovantes que sur l’arbitrage réglementaire qu’accomplissent des capitalisations assez importantes. Ce constat pose avec acuité la question de la nature et de l’organisation d’un marché boursier adapté aux spécificités des PME.Classification JEL : G10, G23, G28, G32, L25, M10. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | “Is the Proof of the Pudding in the Eating?” – Comparison between Alternative Investment Market and AlternextAs a stock exchange dedicated to small and medium enterprises (SMEs), the success of the Alternative Investment Market (AIM) has established this segment of the London Stock Exchange as the benchmark, of which the Alternext is considered a flawed copy. This article aims to invalidate this proposition. First, the performance of Alternext (2005-2012), if compared to AIM’s performance at the same stage of development, is not as bad as critiques have been deluded the public into believing. Second, AIM characteristics are not set up as a stock exchange model dedicated to medium and small enterprises: the success seems to be based less on the services which AIM provides to small or innovative companies than on the regulatory arbitrage realized by medium and large companies. This observation acutely raises the question of the nature and organization of a stock exchange adapted to the specifications of SMEs.Classification JEL: G10, G23, G28, G32, L25, M10. |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Rezaee, Amir |
| Relator term | author |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Riva, Angelo |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue d'économie financière | 114 | 2 | 2014-07-30 | p. 189-206 | 0987-3368 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/revue-d-economie-financiere-2014-2-page-189?lang=fr&redirect-ssocas=7080">https://shs.cairn.info/revue-d-economie-financiere-2014-2-page-189?lang=fr&redirect-ssocas=7080</a> |
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