IPO Strategy - Specific Approaches in the CEE Region

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F15%3APU112801" target="_blank" >RIV/00216305:26510/15:PU112801 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

IPO Strategy - Specific Approaches in the CEE Region

Popis výsledku v původním jazyce

This monograph presents the main results of the research project IPO Strategy - Specific Approaches in the CEE Region. The first chapter deals with recent primary stock market developments in Central and Eastern Europe and aims to indicate the influence of capital market determinants on numbers of IPOs in Poland, Czech Republic, Hungary, Slovakia, Slovenia and Austria over the period of 2000 to 2012. Descriptive statistics are used to analyse capital market and IPO developments . The results of our analysis can be summarized as follows. All CEE capital markets recorded a strong dynamism over the observed period. All fundamental capital market parameters increased the attractiveness of individual capital markets, although their values are behind developed European capital countries. Our assumption that a growing and more liquid market has a positive impact on IPO activities could not be supported by empirical evidence. In the second chapter we investigate the influence of macroeconomic factors on the number of IPOs in the Polish capital market over the period of 2004 to 2012. Our sample includes 218 local enterprises that conducted an IPO on the Main Market of the Warsaw Stock Exchange. The model estimation was performed with the Ordinary Least Squares method. The main conclusion of our model is that the GDP growth and annual stock index returns have a significant impact on the number of new issues. The model could confirm that other macroeconomic factors have had no explanatory power for IPO numbers in Poland in the observed period. The third chapter examines internal determinants influencing the decision to go public or to stay private by Polish enterprises divided into two groups. The first group consists of entities that have previously executed an initial public offering; the second one includes entities that are IPO candidates. The questionnaire-collected data was treated by statistical methods reflecting its nature and quantity. Firstly, raising external capit

Název v anglickém jazyce

IPO Strategy - Specific Approaches in the CEE Region

Popis výsledku anglicky

This monograph presents the main results of the research project IPO Strategy - Specific Approaches in the CEE Region. The first chapter deals with recent primary stock market developments in Central and Eastern Europe and aims to indicate the influence of capital market determinants on numbers of IPOs in Poland, Czech Republic, Hungary, Slovakia, Slovenia and Austria over the period of 2000 to 2012. Descriptive statistics are used to analyse capital market and IPO developments . The results of our analysis can be summarized as follows. All CEE capital markets recorded a strong dynamism over the observed period. All fundamental capital market parameters increased the attractiveness of individual capital markets, although their values are behind developed European capital countries. Our assumption that a growing and more liquid market has a positive impact on IPO activities could not be supported by empirical evidence. In the second chapter we investigate the influence of macroeconomic factors on the number of IPOs in the Polish capital market over the period of 2004 to 2012. Our sample includes 218 local enterprises that conducted an IPO on the Main Market of the Warsaw Stock Exchange. The model estimation was performed with the Ordinary Least Squares method. The main conclusion of our model is that the GDP growth and annual stock index returns have a significant impact on the number of new issues. The model could confirm that other macroeconomic factors have had no explanatory power for IPO numbers in Poland in the observed period. The third chapter examines internal determinants influencing the decision to go public or to stay private by Polish enterprises divided into two groups. The first group consists of entities that have previously executed an initial public offering; the second one includes entities that are IPO candidates. The questionnaire-collected data was treated by statistical methods reflecting its nature and quantity. Firstly, raising external capit

Druh

B - Odborná kniha

CEP obor

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OECD FORD obor

50602 - Public administration

Projekt

<a href="/cs/project/GA13-38047S" target="_blank" >GA13-38047S: Strategie IPO ? specifické přístupy v regionu CEE</a><br>

Návaznosti

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

Rok uplatnění

2015

Kód důvěrnosti údajů

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

ISBN

978-80-214-5113-1

Počet stran knihy

100

Název nakladatele

VUTIUM

Místo vydání

Brno

Kód UT WoS knihy

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