Profil du dirigeant et introduction en Bourse au Cameroun : Lectures théoriques et enjeux pratiques

Abstract

Results: In the singular case of Cameroon, the results show a close relationship between managers ‘profiles and decision of initial public offering. The results reveal that, manager’s stock market cultures the level and nature of his training, his professional and financial experiences are closely related to his financial choices to go public. Originality/Relevance: In this research, we show that it is very hard to comprehend the financial problematic irrespective of the manager’s or the management team’s characteristics. In this context, the paper aims at determining to what extent managers’ profiles can account for their attitudes about financials choices to go public. Theoretical/methodological contributions: To achieve this objective, a survey has been conducted by means of direct interviews with 97 managers. Also, we have tried to build bridges between a qualitative analysis and quantitative analysis to show how a combination of these methods enriches the analysis of the link between manager’s profile and IPO. The validation of this work takes place in two steps. We start with a principal component analysis to summarize as best as possible the information from the variables used in this analysis. Once the main factor axes have been determined, we measure the links between the different variables and the refusal to go public, using the analysis of covariance. Social/Management contributions: This study is being carried out in a context marked by the absence of more companies on the financial market in Cameroon, twenty years after its creation.