The Alternative Investment Market And The Financing Of Technological Innovation

September 5, 2014 Editor 0

The Alternative Investment Market (AIM) is characterized by the presence of numerous firms operating in sectors with a high rate of technological innovation. In this research we will deal with IPOs about companies active in the sector of Information Technology and Software & Computer Services. The purpose of the research is testing the market’s ability to attract the listing of new companies in these sectors and to examine the following questions:
1) Have the IPOs about economic sectors examined a concentration in specific periods?
2) Have firms’ average size, the average capital raised on the market and the share of capital on average placed with the initial offer, at the time of listing, changed during the analysed periods?
We consider three periods. The first, from the birth of the market (1995) until the speculative bubble (2001), which follows the so-called dot.com boom. The second, from 2002 to 2007, beginning of the severe economic and financial crisis, and the third from 2008 until June 2013.

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