Caroline Granier, Valérie Revest and Alessandro Sapio

Author Archive | Caroline Granier, Valérie Revest and Alessandro Sapio


How do financial markets adapt? An institutional comparison between European and Japanese Junior stock markets

Since the last decade, new Junior stock markets or second-tier stock markets have emerged in various countries, often influenced by the Alternative Investment Market, created by the London Stock Echange in 1995, and considered by numerous economic and political actors as a reference. Junior Markets are characterised by simplified listing processes and customised information standards. […]

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Firm Growth and Stock Market Regulation in Different Financial Systems

This article aims at testing whether firm growth processes differ across countries characterized by different financial systems and varieties of capitalism, as well as across stock market segments with different listing requirements and information standards. We estimate Gibrat regressions of firm growth through dynamic panel methods on datasets of manufacturing firms listed on the stock […]

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The Creation Function of a Junior Listing Venue: An Empirical Test on the Alternative Investment Market

Stock markets perform a creation function if the inflow of financial capital in the birth of new privately-held firms is stimulated by the promise of stock market liquidity at a later point in time. Junior stock market segments, characterized by lighter listing procedures and costs, may be suited to perform a creation function, but their […]

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Financial Regimes, Financialization Patterns and Industrial Performances: Preliminary Remarks

The evolutionary taxonomy of financial systems, outlined by Dosi (1990), argued that market-based systems would be comparatively more engaged in the exploration of new technological paradigms, as an outcome of market selective pressure, whereas the more institutionalized finance allocation in credit-based systems would give them an advantage in cumulative learning. This article offers a preliminary […]

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