Determinants of firm delisting on the Prague Stock Exchange

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F11%3A00371982" target="_blank" >RIV/00216208:11640/11:00371982 - isvavai.cz</a>
Result on the web
<a href="http://www.vse.cz/pep/abstrakt.php3?IDcl=404" target="_blank" >http://www.vse.cz/pep/abstrakt.php3?IDcl=404</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Determinants of firm delisting on the Prague Stock Exchange
Original language description
This research investigates the emergence of stock market in the Czech Republic. We use Czech mass privatization as an experiment that allows us to analyze under what conditions a viable stock market arises. On the Prague Stock Exchange (PSE), unlike itscounterparts in Poland or Hungary, exceptionally large amounts of shares were delisted e.g. excluded from public trading soon after trading at this market began in 1993. We estimate the determinants of shares delisting analyzing the period 1993-2004. Using firm-level data on listed and delisted companies we show that it was possible to prevent massive delisting if certain pre-privatization and privatization characteristics of the companies had been taken into account when deciding which companies to place on the stock exchange for public trading following the mass privatization.
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Project
<a href="/en/project/GA402%2F09%2F1595" target="_blank" >GA402/09/1595: Corporate performance, behavior and ownership structures in the Czech firms: Theoretical modeling and empirical assessment</a><br>
Continuities
Z - Vyzkumny zamer (s odkazem do CEZ)

Publication year
2011
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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