Reasons for IPO Implementation: Empirical Evidence from the Polish Capital Market

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F14%3APU110017" target="_blank" >RIV/00216305:26510/14:PU110017 - isvavai.cz</a>

Result on the web

<a href="http://dx.doi.org/10.5755/j01.ee.25.3.3529" target="_blank" >http://dx.doi.org/10.5755/j01.ee.25.3.3529</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.5755/j01.ee.25.3.3529" target="_blank" >10.5755/j01.ee.25.3.3529</a>

Result language

angličtina

Original language name

Reasons for IPO Implementation: Empirical Evidence from the Polish Capital Market

Original language description

This paper examines determinants influencing the decision to go public by enterprises under the conditions in force on the Polish capital market. The intent of this research required to collect primary data. The sample has been divided into two groups. The first group consisted of the entities that have previously executed an initial public offering (IPO), the second one included the entities that considered doing so in the past or are IPO candidates. The survey results can be summarized as follows. First, raising external capital as a reason for IPO received a strong support from the respondents of both groups of companies. Next, more than 50 % of respondents in each group believe that IPO will have a positive effect on its image and publicity. Most of the respondents also believe that IPO will improve the company valuation, strengthen the management's bargaining position in negotiations with providers of external capital, and increase the attractiveness of the company as an employer. Thirdly, the respondents do not see debt reduction as a reason to go public. Low level of support was given to other reasons, which include withdrawal from the venture capital fund, diversification of the existing shareholders' portfolios, and solution to the succession problem. The results of this survey made it possible to formulate new insights as contributions towards a better understanding of corporate financing strategies under the specific conditions of the CEE region.

Czech name

—

Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

—

OECD FORD branch

50602 - Public administration

Project

<a href="/en/project/GA13-38047S" target="_blank" >GA13-38047S: IPO Strategy - Specific Approaches in the CEE Region</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2014

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Engineering Economics

ISSN

1392-2785

e-ISSN

2029-5839

Volume of the periodical

25

Issue of the periodical within the volume

3

Country of publishing house

LT - LITHUANIA

Number of pages

8

Pages from-to

294-301

UT code for WoS article

000346121500005

EID of the result in the Scopus database

2-s2.0-84921873053