nep-cfn 2012-02-08 papers

on Corporate Finance

Issue of 2012‒02‒08
one paper chosen by
Zelia Serrasqueiro
University of the Beira Interior

SMEs and the challenge to go public: evidence from a recent survey By Marianna Caccavaio; Jacopo Carmassi; Giorgio Di Giorgio; Marco Spallone

SMEs and the challenge to go public: evidence from a recent survey

By:	Marianna Caccavaio (LUISS Guido Carli University); Jacopo Carmassi (LUISS Guido Carli University); Giorgio Di Giorgio (LUISS Guido Carli University); Marco Spallone (Universitˆ degli studi di Chieti e Pescara and LUISS Guido Carli University of Rome)
Abstract:	Italian SMEs go public much less than SMEs located in other European countries, even though their relevance for the national economy is relatively higher in terms of employment and value added. Why do Italian SMEs so scarcely rely on equity as an external source of finance, despite the option of getting listed on SME-dedicated stock market segments? In this paper we address this question by analyzing the responses to a questionnaire that we submitted to a sample of listed firms and institutional investors. We also suggest policy interventions to provide Italian SMEs with the appropriate incentives for listing.
Keywords:	SMEs, IPO, equity financing, financial constraints.
JEL:	G1 G3
Date:	2012
URL:	http://d.repec.org/n?u=RePEc:lui:casmef:1202&r=cfn

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