IPO costs on the Polish capital market

Simple item page
dc.citation.epage46
dc.citation.issue2
dc.citation.spage41
dc.contributor.affiliationWarsaw School of Economics
dc.contributor.authorGemra, K.
dc.coverage.placenameЛьвів
dc.coverage.placenameLviv
dc.date.accessioned2020-02-26T13:30:39Z
dc.date.available2020-02-26T13:30:39Z
dc.date.created2019-02-28
dc.date.issued2019-02-28
dc.description.abstractThe effectiveness of IPO processes is a frequent research subject for finance scholars. This article examines the cost of such processes on the Warsaw Stock Exchange in 2008–2017 based on a sample of 136 companies. Research results indicate that IPO costs for transactions worth up to PLN 50m are significantly higher than for the remaining transactions and decline as the value of the IPOincreases. At the same time, poor state of theWSE related to the absence of new capital and the loss of trust among investors due to events related to failure to comply with corporate governance mean that it may be difficult to see the return of a larger number of IPOs and the amount of equity raised in the upcoming years.
dc.format.extent41-46
dc.format.pages6
dc.identifier.citationGemra K. IPO costs on the Polish capital market / K. Gemra // Economics, Entrepreneurship, Management. — Lviv : Lviv Politechnic Publishing House, 2019. — Vol 6. — No 2. — P. 41–46.
dc.identifier.citationenGemra K. IPO costs on the Polish capital market / K. Gemra // Economics, Entrepreneurship, Management. — Lviv : Lviv Politechnic Publishing House, 2019. — Vol 6. — No 2. — P. 41–46.
dc.identifier.urihttps://ena.lpnu.ua/handle/ntb/46120
dc.language.isoen
dc.publisherВидавництво Львівської політехніки
dc.publisherLviv Politechnic Publishing House
dc.relation.ispartofEconomics, Entrepreneurship, Management, 2 (6), 2019
dc.relation.references1. Signori, A., (2018). Zero-revenue IPOs. International Review of Financial Analysis, 57, 106–121.
dc.relation.references2. Bessler, W., Schneck, C. &Zimmermann, J., (2017). Growth Strategies of Initial Public Offerings in Europe.
dc.relation.references3. Helbing, P., Lucey, B. & Vigne, S., (2019). The determinants of IPO withdrawal – Evidence from Europe. Journal of Corporate Finance, 56, 415–436.
dc.relation.references4. Puławski, M. (2013). Koszt pierwszej oferty publicznej na rynku akcji w Polsce w latach 2008–2012. Zeszyty Naukowe Uniwersytetu Szczecińskiego, 63, 418.
dc.relation.references5. Pagano, M., Panetta, F. & Zingales, L. (1998). Why do companies go public? An empirical analysis. The Journal of Finance, 53, 1, 27–64.
dc.relation.references6. Szyszka, A. ( 2014). Factors influencing IPO decision. Do corporate managers use market and corporate timing? A survey, International Journal of Management and Economics, 42, 1, 30–39.
dc.relation.references7. Ritter, J.R. (1987). The costs of going public, Journal of Financial Economics, 19, 2, 269–281.
dc.relation.references8. Wawryszuk-Misztal, A. (2015). Expected and Actual Proceeds from Share Issue on the Warsaw Stock Exchange, Managing Intellectual Capital and Innovation for Sustainable and Inclusive Society. Proceedings of the MakeLearn and TIIM Proceedings of the MakeLearn and TIIM Joint International Conference, 27–29 May 2015, Bari, Italy, To Know Press, International Academic Publisher, Bangkok-Celje-Lublin, 1429–1436.
dc.relation.references9. Henry, S. & Gregoriou, G. (2014). IPO firm characteristics pre- and post-financial crisis. Academy of Accounting and Financial Studies Journal. 18, 2, 67–76.
dc.relation.references10. Rogowski, W. & Gemra, K. (2018). Wpływ przypadku firmy GetBack na różne obszary polskiego rynku finansowego. Kwartalnik Nauk o Przedsiębiorstwie, 4, 89–103.
dc.relation.referencesen1. Signori, A., (2018). Zero-revenue IPOs. International Review of Financial Analysis, 57, 106–121.
dc.relation.referencesen2. Bessler, W., Schneck, C. &Zimmermann, J., (2017). Growth Strategies of Initial Public Offerings in Europe.
dc.relation.referencesen3. Helbing, P., Lucey, B. & Vigne, S., (2019). The determinants of IPO withdrawal – Evidence from Europe. Journal of Corporate Finance, 56, 415–436.
dc.relation.referencesen4. Puławski, M. (2013). Koszt pierwszej oferty publicznej na rynku akcji w Polsce w latach 2008–2012. Zeszyty Naukowe Uniwersytetu Szczecińskiego, 63, 418.
dc.relation.referencesen5. Pagano, M., Panetta, F. & Zingales, L. (1998). Why do companies go public? An empirical analysis. The Journal of Finance, 53, 1, 27–64.
dc.relation.referencesen6. Szyszka, A. ( 2014). Factors influencing IPO decision. Do corporate managers use market and corporate timing? A survey, International Journal of Management and Economics, 42, 1, 30–39.
dc.relation.referencesen7. Ritter, J.R. (1987). The costs of going public, Journal of Financial Economics, 19, 2, 269–281.
dc.relation.referencesen8. Wawryszuk-Misztal, A. (2015). Expected and Actual Proceeds from Share Issue on the Warsaw Stock Exchange, Managing Intellectual Capital and Innovation for Sustainable and Inclusive Society. Proceedings of the MakeLearn and TIIM Proceedings of the MakeLearn and TIIM Joint International Conference, 27–29 May 2015, Bari, Italy, To Know Press, International Academic Publisher, Bangkok-Celje-Lublin, 1429–1436.
dc.relation.referencesen9. Henry, S. & Gregoriou, G. (2014). IPO firm characteristics pre- and post-financial crisis. Academy of Accounting and Financial Studies Journal. 18, 2, 67–76.
dc.relation.referencesen10. Rogowski, W. & Gemra, K. (2018). Wpływ przypadku firmy GetBack na różne obszary polskiego rynku finansowego. Kwartalnik Nauk o Przedsiębiorstwie, 4, 89–103.
dc.rights.holder© Національний університет „Львівська політехніка“, 2019
dc.subjectIPO
dc.subjectcost of IPO
dc.subjectstock exchange
dc.subject.udc336.76
dc.titleIPO costs on the Polish capital market
dc.typeArticle

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Economics, Entrepreneurship, Management. – 2019. – Vol. 6, No. 2