Detail publikace

Why firms do not go public: The evidence from Poland

MELUZÍN, T. ZINECKER, M.

Originální název

Why firms do not go public: The evidence from Poland

Typ

článek ve sborníku ve WoS nebo Scopus

Jazyk

angličtina

Originální abstrakt

This paper examines factors influencing the decision not to go public 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 decision making. The first group consisted of the entities that have previously conducted an IPO, 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, the deliberation to undertake an IPO is very sensitive to the question of time, costs and reporting duties in companies with successful IPO status. The next factor - to avoid IPO failure - is more exogenous in its nature indicating that insiders could be concerned also with industry conditions that can affect the success or failure of the IPO process. Surprisingly, the limitation of company control, ensuring corporate transparency and limitation or loss of company control play no key role in considerations about IPO disadvantages. Second, the not tried companies place a big emphasis on decision-making control. CFOs from this group of companies also possess a very strong feeling regarding the fear of IPO failure. Similar to successful companies, the respondents concern very strongly with market and industry conditions affecting the success of going public.

Klíčová slova

Corporate Finance, Going Public, Initial Public Offering, IPO, Decision Making, CEE Region, Polish Capital Market

Autoři

MELUZÍN, T.; ZINECKER, M.

Rok RIV

2013

Vydáno

9. 7. 2013

Nakladatel

Internationale Institute of Informatics and Systemics

Místo

Orlando US

ISBN

978-1-936338-88-7

Kniha

The 17th World Multi-Conference on Systemics, Cybernetics and Informatics - Proceedings, Volume II

Strany od

43

Strany do

47

Strany počet

5

BibTex

@inproceedings{BUT101598,
  author="Tomáš {Meluzín} and Marek {Zinecker}",
  title="Why firms do not go public: The evidence from Poland",
  booktitle="The 17th World Multi-Conference on Systemics, Cybernetics and Informatics - Proceedings, Volume II",
  year="2013",
  pages="43--47",
  publisher="Internationale Institute of Informatics and Systemics",
  address="Orlando US",
  isbn="978-1-936338-88-7"
}