PL EN


2006 | 17 | 1-2 | 77-93
Article title

CAPITAL MARKET REACTIONS TO PUBLIC BIDS FOR THE SALE OF WSE - LISTED STOCK

Selected contents from this journal
Title variants
Languages of publication
PL
Abstracts
EN
The authors set out to examine the reactions of the Polish capital market to public bids for the sale of listed stock. The basic method for evaluating the results of public bids for shareholders was an analysis of the rates of return for investment in shares in relation to the date of the bid. In their research, the authors limited themselves to analyzing the reactions of the capital market to transactions involving public bids. The article discusses the results of research on a sample of 140 cases, with a specific date of the public bid and the behavior of stock quotations.The study shows that the bids substantially influenced rates of return for shares on the Polish capital market. Investments ranging from 30 days prior to the bid to 30 days after the bid usually yielded positive rates of return. Moreover, the first public bids on the Polish market, as a new trend, usually yielded higher rates of return than the next bids because the market quickly grew accustomed to them. The behavior of the Polish market - whereby relatively high rates of return continue for about two weeks after the bid - is in line with mature market standards.
Year
Volume
17
Issue
1-2
Pages
77-93
Physical description
Document type
ARTICLE
Contributors
author
  • P. Michalewski, Akademia Ekonomiczna im. K. Adamieckiego w Katowicach, ul. Sowinskiego 3/31, 40-018 Katowice, Poland
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
06PLAAAA00942193
YADDA identifier
bwmeta1.element.8f469e70-bcec-381c-9d00-a18fd66e2091
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.