<abstract xmlns="http://www.w3.org/1999/xhtml"><p>This paper explores the motives for Initial Public Offerings (IPOs); that is, whether market mispricing or the behavioral inclinations of investors and analysts impact corporate decisions about rising equity, with a particular focus on market and corporate timing practices of managers going public. To do so, an anonymous survey was conducted of 166 managers of firms that recently went public at the Warsaw Stock Exchange in Poland (being the second most active IPO market in Europe, after London). The resulting data reveals that managers attempt to time bullish markets and good historical corporate financial results.</p></abstract>

This paper explores the motives for Initial Public Offerings (IPOs); that is, whether market mispricing or the behavioral inclinations of investors and analysts impact corporate decisions about rising equity, with a particular focus on market and corporate timing practices of managers going public. To do so, an anonymous survey was conducted of 166 managers of firms that recently went public at the Warsaw Stock Exchange in Poland (being the second most active IPO market in Europe, after London). The resulting data reveals that managers attempt to time bullish markets and good historical corporate financial results.

Factors Influencing IPO Decisions. Do Corporate Managers Use Market and Corporate Timing? A Survey

Capital Markets Department, Warsaw School of Economics

International Journal of Management and Economics

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

This paper explores the motives for Initial Public Offerings (IPOs); that is, whether market mispricing or the behavioral inclinations of investors and...

Factors Influencing IPO Decisions. Do Corporate Managers Use Market and Corporate Timing? A Survey

Published Online: Nov 20, 2014

Page range: 30 - 39

DOI: https://doi.org/10.2478/ijme-2014-0041

Keywords
Behavioral corporate fnance, managerial biases, IPO, going public

© 2014 Adam Szyszka

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

Factors Influencing IPO Decisions. Do Corporate Managers Use Market and Corporate Timing? A Survey

Published Online: Nov 20, 2014

Page range: 30 - 39

DOI: https://doi.org/10.2478/ijme-2014-0041

KeywordsBehavioral corporate fnance, managerial biases, IPO, going public

© 2014 Adam Szyszka

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

Keywords
Behavioral corporate fnance, managerial biases, IPO, going public