Informacja

Drogi użytkowniku, aplikacja do prawidłowego działania wymaga obsługi JavaScript. Proszę włącz obsługę JavaScript w Twojej przeglądarce.

English (EN)·Polski (PL)·Yкраїнський (UK)
Przejdź do strony domowej biblioteki Centralna Biblioteka Wojskowa Link otwiera się w nowym oknie Logo biblioteki Prolib Integro - strona głównaCentralna Biblioteka Wojskowa

Wyszukujesz frazę "ipo" wg kryterium: Wszystkie pola

  Lista filtrów
Wyrównaj
    Wyświetlanie 1-5 z 5
    Tytuł:
    Family Firms as a potential source of growth for the Warsaw Stock Exchange
    Autorzy:
    Filipczak, Szymon
    Powiązania:
    https://bibliotekanauki.pl/articles/692529.pdf
    Data publikacji:
    2017
    Wydawca:
    Uniwersytet Ekonomiczny w Poznaniu
    Tematy:
    Family Firms
    Capital Market
    Warsaw Stock Exchange
    IPO
    Opis:
    The Warsaw Stock Exchange  has been growing rapidly since its establishment. Privatization program undergone via the public market was one of the crucial factors that contributed to this growth. Currently, very few State-owned companies that might go public have left. The main goal of this article is to discuss the possibility that family firms will step into the State’s shoes and become a more meaningful source of new issuers for the WSE. This paper identifies reasons for possible increase in family firms listings on the WSE as well as key elements for that to happen.
    Źródło:
    Research Papers in Economics and Finance; 2017, 2, 2; 21-28
    2543-6430
    Pojawia się w:
    Research Papers in Economics and Finance
    Dostawca treści:
    Biblioteka Nauki
    Artykuł
    Tytuł:
    Aktywność firm rodzinnych i zjawisko niedowartościowania ich akcji w pierwszych ofertach sprzedaży akcji (IPO) w Polsce w latach 2013–2015
    The Activity of Family Businesses and the Phenomenon of Underpricing of Their Shares in IPOs in Poland in the Years 2013–2015
    Autorzy:
    Perz, Paweł
    Powiązania:
    https://bibliotekanauki.pl/articles/1811446.pdf
    Data publikacji:
    2017-06-30
    Wydawca:
    Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
    Tematy:
    family firms
    IPO
    NewConnect
    Warsaw Stock Exchange
    firmy rodzinne
    GPW w Warszawie
    Opis:
    Brak wystarczających zasobów kapitałów bywa jedną z barier rozwoju firm rodzinnych. W sytuacji, kiedy właściciele firmy nie mają możliwości dokapitalizowania przedsiębiorstwa ani nie ma możliwości zwiększania skali wykorzystania kapitału obcego, istotnym źródłem finansowania może stać się emisja akcji skierowana do zewnętrznych podmiotów. W artykule dokonano analizy aktywności firm rodzinnych w procesie pozyskiwania kapitału poprzez emisję akcji na publicznym rynku papierów wartościowych – Giełdzie Papierów Wartościowych oraz w alternatywnym systemie obrotu – na rynku NewConnect. Analizę przeprowadzono na podstawie danych z lat 2013–2015. W badanym okresie emisje akcji w firmach rodzinnych stanowiły odpowiednio 30% wszystkich debiutów na GPW w Warszawie i 43% na rynku NewConnect. W artykule zbadano również znane w literaturze zjawisko niedowartościowania cen akcji w pierwszych ofertach sprzedaży akcji. Porównano skalę niedowartościowania w firmach rodzinnych i pozostałych przedsiębiorstwach.
    A lack of sufficient capital is sometimes one of the barriers for the development of family firms. In a situation when company owners do not have the possibility to recapitalize the company or to increase the scale of the use of borrowed capital, an issue of shares directed to external entities may become an important source of funding. The article analyzes the activity of family firms in the process of raising capital through the issue of shares on the public market of securities, namely the stock exchange, and in the alternative trading system – the NewConnect market. The analysis was conducted based on data from 2013–2015. In that period, the share issues of family firms accounted for 30% of all IPOs on the Warsaw Stock Exchange and 43% on the NewConnect market. The article also examines the phenomenon of stock underpricing in the initial public offering. The scales of underpricing in family firms and other companies are compared.
    Źródło:
    Studia i Materiały; 2017, 1/2017(23); 153-161
    1733-9758
    Pojawia się w:
    Studia i Materiały
    Dostawca treści:
    Biblioteka Nauki
    Artykuł
    Tytuł:
    EARNINGS FORECASTS ERRORS IN PROSPECTUSES: EVIDENCE FROM INITIAL PUBLIC OFFERINGS ON THE WARSAW STOCK EXCHANGE
    Autorzy:
    Wawryszuk-Misztal, Anna
    Powiązania:
    https://bibliotekanauki.pl/articles/517198.pdf
    Data publikacji:
    2017
    Wydawca:
    Instytut Badań Gospodarczych
    Tematy:
    earnings forecasts
    initial public offerings
    IPO
    Warsaw Stock Exchange
    Opis:
    Research background: Several studies investigated the issue of accuracy of earnings fore-casts disclosed in IPO prospectus because of its importance in the investor’s decisions. Disclosing earnings forecasts can reduce information asymmetry and encourage potential investors to buy offered shares. The accuracy of earnings forecasts, and especially its deter-minants, was explored by some researchers, but for Polish companies such studies have not been conducted. Purpose of the article: The first objective of this study is to examine the bias and accuracy of earnings forecasts disclosed in IPO prospectuses by Polish companies attempting to be listed on the main market of the Warsaw Stock Exchange. The second aim of this paper is to identify the relationship between the absolute fore-cast error employed as a measure of earnings accuracy and a number of company specific characteristics such as company’s size, leverage, forecast horizon, managerial ownership, number of shares offered to investors (in relation to total shares before IPO). Methods: The empirical analysis were conducted on a sample of 102 domestic companies that performed IPOs on the main market of the Warsaw Stock Exchange during 2006-2015 and disclosed earnings forecasts in IPO prospectus. The forecast error (FER) and absolute forecast error (AFER) were adopted as a measure of accuracy of earnings forecasts. The non-parametric test was employed to achieve the adopted aims. Findings & Value added: The results show that, on average, the forecasted earnings exceed the actual earnings (i.e. the earnings forecasts are optimistic) and fore-casts are inaccurate. Moreover, the optimistic forecasts are more inaccurate than pessimistic ones. The findings of multiple regression model show that three independent variables may affect the level of absolute forecast error: the company’s size, managerial ownership and forecast horizon.
    Źródło:
    Equilibrium. Quarterly Journal of Economics and Economic Policy; 2017, 12, 2; 229-243
    1689-765X
    2353-3293
    Pojawia się w:
    Equilibrium. Quarterly Journal of Economics and Economic Policy
    Dostawca treści:
    Biblioteka Nauki
    Artykuł
    Tytuł:
    The Delisting of a Company from the Warsaw Stock Exchange as a Result of the Cancellation of the Dematerialisation of Shares – Tender Offer Price vs. IPO Price
    Autorzy:
    Frydrych, Sylwia
    Powiązania:
    https://bibliotekanauki.pl/articles/609922.pdf
    Data publikacji:
    2020
    Wydawca:
    Uniwersytet Marii Curie-Skłodowskiej. Wydawnictwo Uniwersytetu Marii Curie-Skłodowskiej
    Tematy:
    Warsaw Stock Exchange
    dematerialisation of shares
    public tender offer
    Opis:
    Theoretical background: The growth in the number of companies delisted from the Warsaw Stock Exchange (WSE), as a result of the cancellation of the dematerialisation of shares, has become a reason for considerations regarding the share price in tender offers addressed to shareholders who have held company securities since the Initial Public Offering (IPO).Purpose of the article: The goal of this study was to evaluate whether the price in tender offers of the shares of companies which had fially been excluded from trading on the WSE as a result of the cancellation of the dematerialisation of shares would ensure a positive rate of return for shareholders who have held the shares since this company’s debut on the regulated market of the WSE.Research methods: Public tender offers, announced between 2012 and 2018 on the regulated market of the WSE have been analysed. The analysis covered prices of shares of new listings on the WSE and share prices in the tender offers of 213 companies, out of which 55 companies have been excluded from trading on the regulated market of the WSE as a result of the cancellation of the dematerialisation of shares.Main findings: The results of the research indicate that more than a half of the shareholders who have held the securities of companies in their portfolio since their debut, have suffered losses after companies have been excluded from trading on the WSE as a result of the cancellation of the dematerialisation of shares. Only 11% of the examined companies have generated more than double profit for investors compared with the issue price during their IPO. This research is one of the few studies on the Polish stock market to the best of the author’s knowledge.
    Theoretical background: The growth in the number of companies delisted from the Warsaw Stock Exchange (WSE), as a result of the cancellation of the dematerialisation of shares, has become a reason for considerations regarding the share price in tender offers addressed to shareholders who have held company securities since the Initial Public Offering (IPO).Purpose of the article: The goal of this study was to evaluate whether the price in tender offers of the shares of companies which had finally been excluded from trading on the WSE as a result of the cancellation of the dematerialisation of shares would ensure a positive rate of return for shareholders who have held the shares since this company’s debut on the regulated market of the WSE.Research methods: Public tender offers, announced between 2012 and 2018 on the regulated market of the WSE have been analysed. The analysis covered prices of shares of new listings on the WSE and share prices in the tender offers of 213 companies, out of which 55 companies have been excluded from trading on the regulated market of the WSE as a result of the cancellation of the dematerialisation of shares.Main findings: The results of the research indicate that more than a half of the shareholders who have held the securities of companies in their portfolio since their debut, have suffered losses after companies have been excluded from trading on the WSE as a result of the cancellation of the dematerialisation of shares. Only 11% of the examined companies have generated more than double profit for investors compared with the issue price during their IPO. This research is one of the few studies on the Polish stock market to the best of the author’s knowledge.
    Źródło:
    Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia; 2020, 54, 1
    0459-9586
    Pojawia się w:
    Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia
    Dostawca treści:
    Biblioteka Nauki
    Artykuł
    Tytuł:
    Determinants of the direct costs of initial public offerings on the Warsaw Stock Exchange
    Determinanty bezpośrednich kosztów pierwszych publicznych emisji akcji na Giełdzie Papierów Wartościowych w Warszawie
    Autorzy:
    Wawryszuk-Misztal, Anna
    Powiązania:
    https://bibliotekanauki.pl/articles/588795.pdf
    Data publikacji:
    2016
    Wydawca:
    Uniwersytet Ekonomiczny w Katowicach
    Tematy:
    Direct costs
    IPO
    Warsaw Stock Exchange
    GPW w Warszawie
    Koszty bezpośrednie
    Pierwsza oferta publiczna
    Opis:
    This study aimed to investigate the relationship between the direct cost of raising equity capital on the Warsaw Stock Exchange (WSE) and some selected variables. The independent variables used in this study are the proxies for: issue size, ownership concentration, a proportion of shares allotted to institutional/large investors, profitability, issuer risk and a stock market situation. The research sample covers 83 companies that conducted IPOs between 2006 and 2015. A multiple regression analysis was used to achieve the adopted objective. The results prove the existence of economies of scale in direct costs of IPOs on the WSE. A negative correlation between ownership concentration and direct costs as a percentage of gross received is also observed. These results are in line with existing literature.
    Celem opracowania jest zbadanie zależności między bezpośrednimi kosztami pozyskania kapitału własnego na GPW w Warszawie a wybranymi zmiennymi wyrażającymi wielkość emisji, koncentrację własności, wielkość transzy zaoferowanej inwestorom instytucjonalnym, rentowność, ryzyko emitenta oraz sytuację na rynku finansowym. Próba badawcza obejmuje 83 przedsiębiorstwa, które w okresie 2006-2015 przeprowadziły pierwsze publiczne emisje akcji. Jako metodę badawczą zastosowano analizę regresji wielokrotnej. Otrzymane wyniki wskazują na występowanie zjawiska ekonomii skali w odniesieniu do kosztów emisji akcji. Zauważono także negatywną zależność korelacyjną między koncentracją własności a kosztami bezpośrednimi w ujęciu procentowym. Otrzymane wyniki są zgodne z dotychczasowymi badaniami.
    Źródło:
    Studia Ekonomiczne; 2016, 282; 227-238
    2083-8611
    Pojawia się w:
    Studia Ekonomiczne
    Dostawca treści:
    Biblioteka Nauki
    Artykuł
      Wyświetlanie 1-5 z 5

      Ta witryna wykorzystuje pliki cookies do przechowywania informacji na Twoim komputerze. Pliki cookies stosujemy w celu świadczenia usług na najwyższym poziomie, w tym w sposób dostosowany do indywidualnych potrzeb. Korzystanie z witryny bez zmiany ustawień dotyczących cookies oznacza, że będą one zamieszczane w Twoim komputerze. W każdym momencie możesz dokonać zmiany ustawień dotyczących cookies