Publication result detail

Trends in IPOs: The Evidence from CEE Capital Markets

MELUZÍN, T.; ZINECKER, M.

Original Title

Trends in IPOs: The Evidence from CEE Capital Markets

English Title

Trends in IPOs: The Evidence from CEE Capital Markets

Type

WoS Article

Original Abstract

The purpose of this paper is to investigate IPO developments across five CEE countries between 2003 and 2012. The purpose of this paper is to investigate IPO developments across five CEE countries between 2003 and 2012. Using a wider range of methods and different data sets we intend to complement the previous research. Applying descriptive statistics, relevant local developments are analysed first before being compared with leading European markets (London Stock Exchange and Deutsche Börse). We also investigated the assumption that a growing market has an explanatory power for the accelerating IPO activity. For this purpose we performed a Spearman correlation analysis. The data were evaluated at the significance level of α = 5 %. All CEE capital markets recorded strong dynamism over the observed period. All fundamental capital market parameters increase the attractiveness of individual capital markets, although their values lag behind developed European capital countries. The unambiguous leader in the region is Poland with a flourishing IPO market. Our assumption that a growing market has a positive impact on IPO activities could not be supported by empirical evidence.

English abstract

The purpose of this paper is to investigate IPO developments across five CEE countries between 2003 and 2012. The purpose of this paper is to investigate IPO developments across five CEE countries between 2003 and 2012. Using a wider range of methods and different data sets we intend to complement the previous research. Applying descriptive statistics, relevant local developments are analysed first before being compared with leading European markets (London Stock Exchange and Deutsche Börse). We also investigated the assumption that a growing market has an explanatory power for the accelerating IPO activity. For this purpose we performed a Spearman correlation analysis. The data were evaluated at the significance level of α = 5 %. All CEE capital markets recorded strong dynamism over the observed period. All fundamental capital market parameters increase the attractiveness of individual capital markets, although their values lag behind developed European capital countries. The unambiguous leader in the region is Poland with a flourishing IPO market. Our assumption that a growing market has a positive impact on IPO activities could not be supported by empirical evidence.

Keywords

IPO, Going Public, Trends, Financial Markets, CEE

Key words in English

IPO, Going Public, Trends, Financial Markets, CEE

Authors

MELUZÍN, T.; ZINECKER, M.

RIV year

2017

Released

01.06.2016

Publisher

Economic Society Branch in Toruń

Location

Toruń

ISBN

1689-765X

Periodical

Equilibrium-Quarterly Journal of Economics and Economic Policy

Volume

11

Number

2

State

Republic of Poland

Pages from

327

Pages to

341

Pages count

15

URL

http://apcz.pl/czasopisma/index.php/EQUIL/article/view/EQUIL.2016.015

Full text in the Digital Library

http://hdl.handle.net/11012/70177

BibTex

@article{BUT127312,
  author="Tomáš {Meluzín} and Marek {Zinecker}",
  title="Trends in IPOs: The Evidence from CEE Capital Markets",
  journal="Equilibrium-Quarterly Journal of Economics and Economic Policy",
  year="2016",
  volume="11",
  number="2",
  pages="327--341",
  doi="10.12775/EQUIL.2016.015",
  issn="1689-765X",
  url="http://apcz.pl/czasopisma/index.php/EQUIL/article/view/EQUIL.2016.015"
}

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