<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The quest for new sources of financing for the development of green economy sectors and enterprises is one of the challenges to effective management. This study verifies whether a relationship exists between the activity of selected companies who access the capital market in search for new financing sources, their development level and their competitive edge. The sample used in this study was composed of companies from the forestry and wood-based sector (a major part of the Polish economy) listed on the Warsaw Stock Exchange. The Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS) was used to assess the development level of selected enterprises. The main recommendations were formulated based on the findings from the analysis of performance ratios and from the comparative and descriptive analysis of data on stock exchange transactions in the wood-based sector. This is because the assumption was made that by becoming more active in the capital market and, as a consequence, by strengthening their competitive position, the enterprises covered by this study may contribute to adding value in the circular economy.</p></abstract>

The quest for new sources of financing for the development of green economy sectors and enterprises is one of the challenges to effective management. This study verifies whether a relationship exists between the activity of selected companies who access the capital market in search for new financing sources, their development level and their competitive edge. The sample used in this study was composed of companies from the forestry and wood-based sector (a major part of the Polish economy) listed on the Warsaw Stock Exchange. The Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS) was used to assess the development level of selected enterprises. The main recommendations were formulated based on the findings from the analysis of performance ratios and from the comparative and descriptive analysis of data on stock exchange transactions in the wood-based sector. This is because the assumption was made that by becoming more active in the capital market and, as a consequence, by strengthening their competitive position, the enterprises covered by this study may contribute to adding value in the circular economy.

Initial Public Offering (IPO) as a Potential Source of Capital for the Development of the Wood-based Industry Enterprises in Poland

Conference Quality Production Improvement – CQPI

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The quest for new sources of financing for the development of green economy sectors and enterprises is one of the challenges to effective management. This...

Initial Public Offering (IPO) as a Potential Source of Capital for the Development of the Wood-based Industry Enterprises in Poland

Published Online: Oct 08, 2019

Page range: 117 - 123

Received: May 05, 2019

Accepted: Jun 01, 2019

DOI: https://doi.org/10.2478/cqpi-2019-0016

Keywords
wood-based industry, initial public offering (IPO), capital market, TOPSIS, Poland

© 2019 Leszek Wanat et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Initial Public Offering (IPO) as a Potential Source of Capital for the Development of the Wood-based Industry Enterprises in Poland

Published Online: Oct 08, 2019

Page range: 117 - 123

Received: May 05, 2019

Accepted: Jun 01, 2019

DOI: https://doi.org/10.2478/cqpi-2019-0016

Keywordswood-based industry, initial public offering (IPO), capital market, TOPSIS, Poland

© 2019 Leszek Wanat et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
wood-based industry, initial public offering (IPO), capital market, TOPSIS, Poland