Zjawisko underpricingu a ład korporacyjny na rynku NewConnect

• Autorzy: Dominika Fijałkowska , Michał Muszyński , Marek Pauka

Warianty tytułu

Initial Public Offerings Underpricing of NewConnect Market

• Języki publikacji: PL

Abstrakty

Zjawisko underpricingu jest dość często przedmiotem analiz dla rynków regulowanych. Celem tego artykułu była identyfikacja skali underpricingu w ujęciu krótko- i długookresowym oraz próba wskazania wielkości z zakresu ładu korporacyjnego, mających wpływ na kierunek oraz wartość uzyskiwanych stóp zwrotu z akcji przez nowych emitentów wprowadzających akcje do alternatywnego systemu obrotu (NewConnect). Badania na próbie 20% spółek pokazały, że najbardziej wpływowy na underpring okazał się free float. (abstrakt oryginalny)

EN

IPO underpricing is quite often the subject of studies but only for regulated markets. The goal of this paper is to identity the scale of underpricing in the shortand long term and to indicate factors of corporate governance that influence the direction and returns value of new issued stocks on the NewConnect (Polish AIM). Research conducted on 20% population showed that only FreeFloat is significant. (original abstract)

Słowa kluczowe

PL

Ład korporacyjny; Rynek NewConnect; Pierwsza oferta publiczna; Alternatywny System Obrotu (ASO); Niedoszacowanie cen akcji

EN

Corporate governance; NewConnect market; Initial Public Offering (IPO); Alternative Investment Market (AIM); Underpricing

• Czasopismo: Zarządzanie i Finanse
• Rocznik: 2013
• Numer: R. 11, nr 2, cz. 6
• Strony: 415--426

Twórcy

autor

Dominika Fijałkowska

• Uniwersytet Ekonomiczny we Wrocławiu

autor

Michał Muszyński

• Uniwersytet Ekonomiczny we Wrocławiu

autor

Marek Pauka

• Uniwersytet Ekonomiczny we Wrocławiu

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