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MELUZÍN, T. ZINECKER, M.
Originální název
External Determinants of Going Public in the Czech Republic and in Poland
Typ
článek ve sborníku ve WoS nebo Scopus
Jazyk
angličtina
Originální abstrakt
This study deals with Initial Public Offering (IPO) developments in the Czech Republic and Poland over the period 2000 - 2012 and aims to indicate the influence of external going public determinants, in particular the capital market size- and liquidity-indicators, on IPO numbers and values. Our sample includes enterprises that conducted an IPO on the main markets of the Prague and Warsaw Stock Exchanges. The following steps were undertaken to analyse the quantitative data. Firstly, we performed a quantitative analysis of the Czech and Polish capital market in order to draw attention to certain specific issues existing on these markets between 2000 and 2012. Next, we compared internal IPO characteristics on the particular capital markets with the empirical evidence on IPOs in the Central and Eastern Europe- and EU-wide capital markets. Our results indicate the favourable development of fundamental capital market indicators on the Warsaw Stock Exchange. This could be seen as a signal of increasing market attractiveness for both investors and potential issuers (IPO candidates) and thereby accelerate IPO activity. On the other hand, the size and liquidity of the Czech capital market still represents an investment barrier.
Klíčová slova
IPO; Going Public; Capital Market; Macroeconomics; Poland; Czech Republic; Central and Eastern Europe; CEE
Autoři
MELUZÍN, T.; ZINECKER, M.
Vydáno
22. 12. 2015
Nakladatel
Elsevier
Místo
AMSTERDAM, NETHERLANDS
ISSN
1877-0428
Periodikum
Procedia Social and Behavioral Sciences
Ročník
213
Číslo
1
Stát
Nizozemsko
Strany od
364
Strany do
369
Strany počet
6
URL
https://www.sciencedirect.com/science/article/pii/S1877042815059078
Plný text v Digitální knihovně
http://hdl.handle.net/11012/194769
BibTex
@inproceedings{BUT144322, author="Tomáš {Meluzín} and Marek {Zinecker}", title="External Determinants of Going Public in the Czech Republic and in Poland", booktitle="Procedia Social and Behavioral Sciences", year="2015", journal="Procedia Social and Behavioral Sciences", volume="213", number="1", pages="364--369", publisher="Elsevier", address="AMSTERDAM, NETHERLANDS", doi="10.1016/j.sbspro.2015.11.552", issn="1877-0428", url="https://www.sciencedirect.com/science/article/pii/S1877042815059078" }