| Titre | Quels sont les déterminants de la croissance externe des entreprises françaises ? | |
|---|---|---|
| Auteur | Anne Epaulard, Laurent Di Carlo, Jean-Noël Caubet-Hilloutou, Benoît Bretel | |
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Revue | Economie et prévision |
| Numéro | no 109, 1993/3 | |
| Page | 25-37 | |
| Résumé anglais |
What Are the Deciding Factors in the External Growth of French Companies?
by Benoît Bretel, Jean-Noël Caubet-Hilloutou, Laurent Di Carlo and Anne Epaulard.
The purpose of this article is to ascertain the main features of companies that have carried out external growth operations as well as those launching into new acquisitions. Probit models are estimated to show that there is no conflict between external growth and internal growth, as external growth is dependent on the company's actual business and clearly forms part of a medium-term logic. Funding for external growth operations is raised mainly by indebtedness, even though companies holding equities in other companies are generally characterized by a higher than average equity/balance sheet ratio. On the other hand, corporate financial investment is only marginally dependent on production activity and essentially focuses on short-term goals. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/ecop_0249-4744_1993_num_109_3_5618 |
