PL EN


2014 | 3(20) | 140-151
Article title

Niedoszacowanie ceny emisyjnej obligacji na rynku Catalyst

Authors
Content
Title variants
EN
Underpricing of initial bond offerings: evidence from the Catalyst market
Languages of publication
PL
Abstracts
EN
The aim of this paper is to investigate the undepricing phenomenon of newly issued corporate bonds in the Polish market and its determinants. The study is composed of three parts. The study is based on a filtered sample of 142 corporate bonds issued between March 2010 and August 2013 and listed in Poland. The paper ends with conclusions and suggestions for further research. The study makes two crucial contributions to the relatively modest literature on initial bond offering mispricing: it attempts to verify whether the IBO mispricing is present also in the emerging markets and it tries to identify which factors influence the size of the mispricing.The performed analysis allows to confirm the existence of the uderpricing effect of newly issued bonds in the Polish market. However, it is not possible to indicate any specific factors which have particularly influenced the size of the underpricing.
Contributors
author
References
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Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.desklight-268d9ea9-7d7d-4c7a-ac00-a9cd2400d529
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