Going Public: Key Factors to Consider by IPO Candidates on Emerging Markets of Poland and the Czech Republic

Simple item page
dc.contributor.authorMeluzín, Tomášcs
dc.contributor.authorZinecker, Marekcs
dc.contributor.authorLace, Nataljacs
dc.coverage.issue4cs
dc.coverage.volume27cs
dc.date.issued2016-11-30cs
dc.description.abstractIncreasing globalization contributes to the growing role primary capital markets play for raising external equity capital. This phenomenon is becoming more significant in both developed and emerging countries and influences the effectiveness of national economy. We survey 45 chief financial officers (CFOs) from not public and not financial companies operating in the Czech Republic and Poland to document the internal determinants of going public. We use statistical analyses and comparison with recent academic literature and empirical evidence to interpret the survey-gained data. First, the most important IPO motivations are enhanced publicity and reputation of the company and establishment of the firm´s market value. These benefits are expressed by CFOs across all firms and in both countries. A considerably larger number of CFOs is motivated by raising external equity capital. Surveyed companies tend to conduct an IPO in the expansion stage of their life cycle. Next, the significance of other going public determinants differs between Czech and Polish respondents and across companies varying in size and age. Third, our findings indicate that theories on IPO formulated for well-developed capital markets can explain going public determinants in smaller emerging markets. We suggest that our evidence can be a source of knowledge for enterprises while formulating new financial strategies. Furthermore, we also expect that survey results will be beneficial for investment bankers, stock exchanges and macroeconomic policy makers while discussing and designing incentives to attract more enterprises onto the primary capital markets under the specific conditions of the Czech Republic and Poland.en
dc.formattextcs
dc.format.extent392-404cs
dc.format.mimetypeapplication/pdfcs
dc.identifier.citationEngineering Economics. 2016, vol. 27, issue 4, p. 392-404.en
dc.identifier.doi10.5755/j01.ee.27.4.14755cs
dc.identifier.issn1392-2785cs
dc.identifier.orcid0000-0001-5238-5166cs
dc.identifier.orcid0000-0003-1764-0904cs
dc.identifier.other130275cs
dc.identifier.researcheridAAL-5760-2021cs
dc.identifier.scopus36976830900cs
dc.identifier.urihttp://hdl.handle.net/11012/203150
dc.language.isoencs
dc.publisherKaunas University of Technologycs
dc.relation.ispartofEngineering Economicscs
dc.relation.urihttps://inzeko.ktu.lt/index.php/EE/article/view/14755cs
dc.rightsCreative Commons Attribution 4.0 Internationalcs
dc.rights.accessopenAccesscs
dc.rights.sherpahttp://www.sherpa.ac.uk/romeo/issn/1392-2785/cs
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/cs
dc.subjectIPOen
dc.subjectGoing Publicen
dc.subjectIPO Determinantsen
dc.subjectMotivationsen
dc.subjectPolanden
dc.subjectthe Czech Republicen
dc.titleGoing Public: Key Factors to Consider by IPO Candidates on Emerging Markets of Poland and the Czech Republicen
dc.type.driverarticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen
sync.item.dbidVAV-130275en
sync.item.dbtypeVAVen
sync.item.insts2025.02.03 15:43:07en
sync.item.modts2025.01.17 16:48:14en
thesis.grantorVysoké učení technické v Brně. Fakulta podnikatelská. Ústav ekonomikycs
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
14755Article Text4866711020161027.pdf
Size:
805.62 KB
Format:
Adobe Portable Document Format
Description:
14755Article Text4866711020161027.pdf
Download
Collections
Ústav ekonomiky