Courting the European growth firms: A survey of attitudes towards listing alternatives

• Published in: Venture capital (London) Vol. 2; no. 1; pp. 41 - 59
• Main Authors: Leleux, Benoit F., Muzyka, Daniel F.
• Format: Journal Article
• Language: English
• Published: London Taylor & Francis Group 01.01.2000; Taylor & Francis Ltd
• Subjects: Attitudes; Business growth; Entrepreneurial finance; Equity; Europe; European New Markets; Finance; Growth Equity; High tech industries; Initial public offerings; Ipo; Listing Venue; Motivation; Polls & surveys; Securities markets; Stock exchange; Stock exchanges; Studies; Venture capital; Europe
• ISSN: 1369-1066; 1464-5343
• DOI: 10.1080/136910600295800

The paper analyses the results of a survey of European issuers on the NASDAQ market to obtain a better understanding of their motivations in selecting a first public listing market and to outline the conditions necessary and sufficient to entice such firms, or similar firms, to list their shares in Europe. The motivations of these technology leaders provide valuable insights in designing more effective risk-equity markets in Europe and the policies needed to support them. The survey responses indicate a high degree of incredulity as far as the ability of the new European equity markets to deliver large amounts of capital, repeatedly and at good valuations. On the positive side, it is also clear that most firms are taking a wait-and see attitude, giving these exchanges the chance to demonstrate their strengths. Most firms recognized the utility of a European listing, if only for its public relation impact