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2017 | t. 18, z. 9, cz. 2 Przedsiębiorczość i zarządzanie w rozwoju ekonomicznym | 217--230
Tytuł artykułu

The Use of Earnings Forecast in the Building the Capital Strength of Polish IPOs

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EN
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EN
This paper concerns the issue of the role of the earnings forecast voluntarily published in the IPO prospectus in the process of raising funds through the sale of newly created shares. Using the sample of 180 domestic companies seeking to be listed on the Warsaw Stock Exchange between 2006-2015 we examined whether earnings forecast disclosed in the IPO prospectus facilitates raising funds through the public issuance of shares. The results allowed us to conclude that the decision on the disclosure earnings forecast in IPO prospectus does not affect the change of capital strength of new stock companies. However, companies posting over optimistic forecasts obtain more capital to strengthen their capital base. (original abstract)
Twórcy
  • University of Lodz, Poland
  • Maria Curie-Skłodowska University in Lublin
Bibliografia
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Typ dokumentu
Bibliografia
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