Publication detail

IPO Timing Determinants: Empirical Evidence on the Polish Capital Market

MELUZÍN, T. ZINECKER, M. KOVANDOVÁ, S.

Original Title

IPO Timing Determinants: Empirical Evidence on the Polish Capital Market

Type

journal article in Scopus

Language

English

Original Abstract

This paper examines the determinants influencing the IPO timing by enterprises under the conditions in force on the Polish capital market. In the study we asked CFOs Polish enterprises divided into two groups to formulate their insights in the area of IPO timing. The first group consisted of the entities that have previously executed an initial public offering, the second one included the entities that have not executed an IPO (but considered doing so in the past or were candidates for doing it in the future). The survey results can be summarised as follows. First, in choosing an opportune time for an IPO, both subsamples of companies take into considerations the current need of external equity capital for continuing their growth. Second, managers also take advantage of macroeconomic development and effort conducting IPOs when present and projected state of the national and global economy is favorable. Overall stock market conditions, conditions in the business sector and investors interest in the business sector were identified as determinants of IPOs timing with a very strong support. Finally, Polish CFOs attach less importance to the interest that other companies operating in the same type of business may have in IPOs. The interest that firms from other business sectors may have in going public does not have an appreciable effect on timing as well.

Keywords

IPO, timing, CEE, Polish capital market

Authors

MELUZÍN, T.; ZINECKER, M.; KOVANDOVÁ, S.

RIV year

2013

Released

24. 12. 2013

Publisher

Mendelova univerzita v Brně

Location

Brno

ISBN

1211-8516

Periodical

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis

Year of study

61

Number

7

State

Czech Republic

Pages from

2499

Pages to

2506

Pages count

8

URL

https://acta.mendelu.cz/61/7/2499/

Full text in the Digital Library

http://hdl.handle.net/11012/70187

BibTex

@article{BUT104030,
  author="Tomáš {Meluzín} and Marek {Zinecker} and Sylvia {Plottová}",
  title="IPO Timing Determinants: Empirical Evidence on the Polish Capital Market",
  journal="Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis",
  year="2013",
  volume="61",
  number="7",
  pages="2499--2506",
  doi="10.11118/actaun201361072499",
  issn="1211-8516",
  url="https://acta.mendelu.cz/61/7/2499/"
}