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Factors Influencing IPO Underpricing in Poland

dc.contributor.authorPomykalski, Przemysław
dc.contributor.authorFilipiak, Piotr
dc.date.accessioned2021-03-05T12:44:30Z
dc.date.available2021-03-05T12:44:30Z
dc.date.issued2020-09-11
dc.identifier.issn0208-6018
dc.identifier.urihttp://hdl.handle.net/11089/34108
dc.description.abstractWe review the theory and evidence on IPO activity and underpricing focusing on the Warsaw Stock Exchange. Although the topic has been under investigation in the past, we believe that the recent decade of low interest rates deserves inquiry. We research the extent of underpricing during this period and further conclude that three factors had a statistically significant influence on initial public offering underpricing during this period: the year of IPO, risk-free rate and WIG close value.en
dc.description.abstractW artykule analizujemy teorię oraz dowody występowania zjawiska niedoszacowania cen emisyjnych pierwszych ofert publicznych akcji na Giełdzie Papierów Wartościowych w Warszawie. Mimo że temat był już w przeszłości badany, uważamy, że ostatnia dekada niskich stóp procentowych zasługuje na szczególną uwagę. Zbadaliśmy zjawisko niedoszacowania cen emisyjnych w tym okresie, a także wykazaliśmy, że trzy czynniki miały istotnie statystyczny wpływ na wielkość zjawiska: rok emisji, stopa procentowa wolna od ryzyka oraz poziom zamknięcia indeksu szerokiego rynku w dniu emisji.pl
dc.language.isoen
dc.publisherWydawnictwo Uniwersytetu Łódzkiegopl
dc.relation.ispartofseriesActa Universitatis Lodziensis. Folia Oeconomica;349en
dc.rights.urihttps://creativecommons.org/licenses/by/4.0
dc.subjectIPOen
dc.subjectunderpricingen
dc.subjectPolanden
dc.subjectbehavioural financeen
dc.subjectIPOpl
dc.subjectniedoszacowanie cen emisyjnychpl
dc.subjectPolskapl
dc.subjectfinanse behawioralnepl
dc.titleFactors Influencing IPO Underpricing in Polanden
dc.title.alternativeCzynniki wpływające na niedoszacowanie cen emisyjnych pierwszych ofert publicznych akcji w Polscepl
dc.typeArticle
dc.page.number7-21
dc.contributor.authorAffiliationPomykalski, Przemysław - Łódź University of Technology, Faculty of Management and Production Engineering, Department of Management Systems and Innovationen
dc.contributor.authorAffiliationFilipiak, Piotr - Koźmiński Universityen
dc.identifier.eissn2353-7663
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dc.contributor.authorEmailPomykalski, Przemysław - przemyslaw.pomykalski@p.lodz.pl
dc.contributor.authorEmailFilipiak, Piotr - piotr.filipiak@me.com
dc.identifier.doi10.18778/0208-6018.349.01
dc.relation.volume4


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