The Timing of Initial Public Offerings - Non-Numerical Model Based on Qualitative Trends

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F18%3APU128130" target="_blank" >RIV/00216305:26510/18:PU128130 - isvavai.cz</a>

Result on the web

<a href="http://journals.vgtu.lt/index.php/JBEM/article/view/1539" target="_blank" >http://journals.vgtu.lt/index.php/JBEM/article/view/1539</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.3846/jbem.2018.1539" target="_blank" >10.3846/jbem.2018.1539</a>

Result language

angličtina

Original language name

The Timing of Initial Public Offerings - Non-Numerical Model Based on Qualitative Trends

Original language description

The objective of this study is to develop a qualitative model supporting chief financial officers (CFOs) while considering the timing of initial public offerings (IPOs) under conditions of underdeveloped capital markets, where decision making is often made under information shortage. A lack of adequate statistical data in connection with turbulently changing environment suggests that additional research is needed to develop new IPO timing models based not only on statistical analyses. We used a qualitative research approach based on trends, which are increasing, constant or decreasing. Firstly, we identified key variables influencing IPO timing, which have sufficient support in the relevant IPO academic literature, e.g. GDP growth rates, level of compliance, stock market returns, etc. Next, a qualitative model working with 9 variables was developed. The result is represented by 19 scenarios and their qualitative solutions. The transitional graph represents all possible transitions among the 19 scenarios. The main message of the findings presented is what scenarios can occur and what actions might be implemented by CFOs in order to increase the chances of IPO success. We believe that our findings provide valuable implications for local issuers, investment bankers, stock exchanges and macroeconomic policy makers.

Czech name

—

Czech description

—

Type

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

CEP classification

—

OECD FORD branch

50202 - Applied Economics, Econometrics

Project

—

Continuities

S - Specificky vyzkum na vysokych skolach<br>I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2018

Confidentiality

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

Name of the periodical

J BUS ECON MANAG

ISSN

1611-1699

e-ISSN

2029-4433

Volume of the periodical

19

Issue of the periodical within the volume

1

Country of publishing house

LT - LITHUANIA

Number of pages

17

Pages from-to

63-79

UT code for WoS article

000440620100004

EID of the result in the Scopus database

2-s2.0-85047100196