POMMET , Sophie

This paper analyzes the syndication strategies of French private equity firms and compares them with those of their European and North American counterparts. Syndication is a strategy that helps investors improve their performance, for instance by sharing risk or by adding value to enterprises. The paper shows that the motives for syndication...

We analyze the impact of venture capital on firm performance ; more precisely, we investigate whether venture capital adds value to innovative French companies in terms of increasing their survival time. To this end, we use a hand-collected data set based on a sample of 139 French companies that went public at the "Nouveau Marché" between 1996...

This paper analyses venture capital contribution to the financing and performance of innovative companies via its ability to provide financing for innovative projects. From a hand-collected data set based on a sample of French companies that went public at the "Nouveau Marché", we show that : i) venture capital financing does not have a...

International audience

Venture capital firms are known as specific financial intermediaries, providing not only funds but also expertise to innovative projects. This paper analyses the consequences venture capital investments syndication for an expertise motive can have on investment decisionss and on post-investment involvement of investors. In that perspective, we...

Using a sample of 212 IPOs, this paper analyzes the impact of venture capital involvement on the survival time of French IPOs. We find that the ability of venture capitalists to improve the survival of companies is related to the duration of their investment. We show that venture capitalists do not create additional value if investment duration...

No description

International audience

National audience

The duration of the VC incubation period is an important parameter for the profitability of venture capital (VC) firms. This paper uses a new database of VC-backed initial public offerings (IPOs) that are listed on French financial markets in order to highlight the importance of chief executive officer (CEO) human capital on the duration of the...

In this paper, we study how the support of heterogeneous venture capital firms (VCs), that is independent venture capital firms (IVCs), bank-affiliated venture capital firms (BVCs), and corporate venture capital firms (CVCs), shapes the delisting route of companies through business failure and merger and acquisitions (MandAs), while...

National audience

No description

International audience

International audience

International audience

National audience

We explore two recent phenomena in equitycrowdfunding platforms: the development of dedicated secondary markets and the crucial role of institutional investors (lead investors in terms of pledge). First, we propose a theoretical model in which crowd and lead investors choose to finance campaigns posted by entrepreneurial firms that are...

Public investment banks aim to promote the growth of newly established firms, especially those that are the most innovative. An important policy challenge for such banks is to determine the extent to which and by what means they should support the rapid and early internationalization of these recently founded companies. To guide practitioners'...

This paper examines the impact of a rating of equity crowdfunding platforms on funding campaign success. We hand-collect data from five renown Chinese equity crowdfunding platforms on 583 fundraising campaigns between 2016 to 2021. Our analyses reveal the valuable signaling effect of the platform ratings. A one-unit difference in the rating...

We explore two recent phenomena in equity crowdfunding platforms: the development of dedicated secondary markets and the crucial role of institutional investors (lead investors in terms of pledge). First, we propose a theoretical model in which crowd and lead investors choose to finance campaigns posted by entrepreneurial firms that are...

This paper aims to analyze the conditions under which the growth of short-term rental platforms affects standard rents, focusing on key destinations on the French Riviera. Following a literature review, we develop a simplified model capturing the characteristics of French Riviera destinations and predict a positive effect on rents in the short...