- Tytuł:
- Motives and Effects of the Initial Public Offerings on the Warsaw Stock Exchange
- Autorzy:
- Sosnowski, Tomasz
- Powiązania:
- https://bibliotekanauki.pl/articles/517283.pdf
- Data publikacji:
- 2015
- Wydawca:
- Instytut Badań Gospodarczych
- Tematy:
-
initial public offering
primary shares
secondary shares
motives for going public - Opis:
- This paper empirically investigates the links between the motives for going public and changes in the market value and efficiency of new stock companies. Using a sample of 200 firms from Warsaw Stock Exchange between 2005 and 2012 I find that the principal purpose of initial public offering is raising additional capital by the company but divestment grounds of initial shareholders are also important. I find evidence that the sale of secondary shares in the initial public offering may be seen as a negative signal at aftermarket performance of the firm. The data reveal that the most adverse long-term changes in the market value and business efficiency are observed for those companies, where in the initial public offering both primary and secondary shares were sold
- Źródło:
-
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2015, 10, 2; 207-222
1689-765X
2353-3293 - Pojawia się w:
- Equilibrium. Quarterly Journal of Economics and Economic Policy
- Dostawca treści:
- Biblioteka Nauki
Artykuł