Detail publikace

Institutional Settings and their Impact on the IPO Activity: An Exploratory Study Based on Qualitative Modelling

MELUZÍN, T. ZINECKER, M. BALCERZAK, A. PIETRZAK, M. DOUBRAVSKÝ, K.

Originální název

Institutional Settings and their Impact on the IPO Activity: An Exploratory Study Based on Qualitative Modelling

Typ

článek v časopise ve Web of Science, Jimp

Jazyk

angličtina

Originální abstrakt

This article deals with the propagation of rumours about the introduction of institutional settings, which are intended to make the going public strategy in a country more attractive. Rumours significantly affect the level of uncertainty and can be both positive – if the market responds by increasing the initial public offering activity – or negative – if the market responds by a drop of primary issues. We document how the going public activity in a country might be promoted if both positive and negative rumours occur. The rumour spreading model called SIRaRu and qualitative trend-based modelling are applied. There are no quantifiers such as numbers or fuzzy sets needed. Altogether 17 variables are used to capture two dimensions of general institutional quality and internal state of the company. The numerical calculations result in a set S of 9 scenarios, which are complemented by a set T of 46 transitions. Hence, any past and future behaviour of the qualitative model QS can be reconstructed as a sequence of obtained scenarios. Moreover, a graphic solution was derived to study the behaviour of selected variables on the timeline.

Klíčová slova

institutional economics; rumours; IPO; qualitative trend models; scenarios

Autoři

MELUZÍN, T.; ZINECKER, M.; BALCERZAK, A.; PIETRZAK, M.; DOUBRAVSKÝ, K.

Vydáno

25. 1. 2021

Nakladatel

Óbuda University and IEEE Hungary Section

Místo

Budapest/Hungary

ISSN

1785-8860

Periodikum

ACTA POLYTECH HUNG

Ročník

18

Číslo

2

Stát

Maďarsko

Strany od

215

Strany do

234

Strany počet

21

URL

http://acta.uni-obuda.hu/Meluzin_Zinecker_Balcerzak_Pietrzak_Doubravsky_109.pdf

BibTex

@article{BUT169868,
  author="Tomáš {Meluzín} and Marek {Zinecker} and Adam Przemyslaw {Balcerzak} and Michał Bernard {Pietrzak} and Karel {Doubravský}",
  title="Institutional Settings and their Impact on the IPO Activity: An Exploratory Study Based on Qualitative Modelling",
  journal="ACTA POLYTECH HUNG",
  year="2021",
  volume="18",
  number="2",
  pages="215--234",
  doi="10.12700/APH.18.2.2021.2.12",
  issn="1785-8860",
  url="http://acta.uni-obuda.hu/Meluzin_Zinecker_Balcerzak_Pietrzak_Doubravsky_109.pdf"
}