Rynek pierwszych ofert sprzedaży akcji na NewConnect – wybrane zagadnienia

• Authors: Agata Gemzik-Salwach , Paweł Perz
• Languages of publication: PL

Abstracts

PL

Artykuł nie zawiera abstraktu w języku polskim

EN

The paper discusses IPO activity on alternative investment market in Poland (NewConnect) between 2007 and 2012. In particular, attention was drawn to the phenomenon known in the literature as IPO underpricing. The phenomenon can be observed for many years on most stock markets in the world. The study reveals significant average first day positive initial return of 42.5% for 439 IPOs on polish alternative investment market (NewConnect) included in the study. It has been observed that the rate of return on this strategy were significantly higher than for IPOs on Warsaw Stock Exchange, where for a  group of 173 companies average rate of return was 9.0%.

Keywords

PL

IPO; NewConnect

EN

IPO; alternative investment markets; IPO underpricing

• Publisher: Wydawnictwo Uniwersytetu Marii Curie-Skłodowskiej
• Journal: Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia
• Year: 2013
• Volume: 47
• Issue: 3

Dates

published

2013

online

2015-07-23

Contributors

author

Agata Gemzik-Salwach

author

Paweł Perz

References

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Identifiers

DOI

10.17951/h.2013.47.3.177