{"id":23077,"date":"2026-09-14T09:59:10","date_gmt":"2026-09-14T07:59:10","guid":{"rendered":"https:\/\/www.amafi.fr\/?p=23077"},"modified":"2026-09-14T09:59:10","modified_gmt":"2026-09-14T07:59:10","slug":"amafi-2026-barometer-a-sharp-decline-in-equity-investment","status":"publish","type":"post","link":"https:\/\/www.amafi.fr\/en\/amafi-2026-barometer-a-sharp-decline-in-equity-investment\/","title":{"rendered":"AMAFI 2026 Barometer: A Sharp Decline in Equity Investment"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>AMAFI has published its 2026 Barometer of Savings Taxation and Corporate Financing<\/strong>, <strong>which assesses France\u2019s attractiveness in terms of financing the economy and tracks how this has evolved over time<\/strong>. <strong>This new edition highlights a reversal of the momentum that began in 2018 to strengthen the attractiveness of equity financing in France.<\/strong><\/p>\n\n<p class=\"wp-block-paragraph\"><strong>A worrying decline in publicly traded shareholdings<\/strong><\/p>\n\n<p class=\"wp-block-paragraph\">Since 2023, households\u2019 direct holdings of listed stocks have declined significantly. In one year, they have fallen from 5% to just over 4% of their financial assets. This sharp decline contrasts with savers\u2019 stated interest in stocks.  <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>A decline in the cost competitiveness of equity financing<\/strong><\/p>\n\n<p class=\"wp-block-paragraph\">The reforms launched in 2018 had brought France closer to European standards, but several measures taken since 2025 have reversed that trend. For example, to pay out a net income of 100 to a shareholder with an intermediate income level, a French company must generate a gross profit of 228 in 2026, compared with 204 in 2024. The figure is 190 in Germany and 207 in the United Kingdom.  <\/p>\n\n<p class=\"wp-block-paragraph\">These developments are taking place at a time when there is a considerable need for capital related to innovation, transitions, industry, and defense.<\/p>\n\n<p class=\"wp-block-paragraph\">In light of these findings, AMAFI calls for sustained support for equity investment through a tax system that is transparent, predictable, and tailored to the long-term risk taken. This entails, in particular, maintaining the single flat-rate tax and better mobilizing long-term savings to finance businesses\u2014notably by revitalizing the PEA (Equity Savings Plan) and developing, as a complement to the pay-as-you-go system, a capitalization component in pension financing. <\/p>\n\n<p class=\"wp-block-paragraph\"><strong><em><u><a href=\"https:\/\/www.amafi.fr\/pdf-viewer\/?id=23118\">View the AMAFI 2026 Barometer<\/a><\/u><\/em><\/strong><\/p>\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>AMAFI has published its 2026 Barometer of Savings Taxation and Corporate Financing, which assesses France\u2019s attractiveness in terms of financing [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":23075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_searchwp_excluded":"","footnotes":""},"categories":[122],"tags":[],"class_list":["post-23077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-classifiee"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/posts\/23077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/comments?post=23077"}],"version-history":[{"count":3,"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/posts\/23077\/revisions"}],"predecessor-version":[{"id":23124,"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/posts\/23077\/revisions\/23124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/media\/23075"}],"wp:attachment":[{"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/media?parent=23077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/categories?post=23077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amafi.fr\/en\/wp-json\/wp\/v2\/tags?post=23077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}