| dc.contributor.author | Pomykalski, Przemysław | |
| dc.contributor.author | Domagalski, Maciej | |
| dc.date.accessioned | 2015-11-16T14:09:32Z | |
| dc.date.available | 2015-11-16T14:09:32Z | |
| dc.date.issued | 2015 | |
| dc.identifier.issn | 0208-6018 | |
| dc.identifier.uri | http://hdl.handle.net/11089/13820 | |
| dc.description.abstract | We review the theory and evidence on IPO activity and underpricing focusing on the Warsaw Stock Exchange and confirm that many IPO phenomena in Poland are not stationary. Focusing on the behavioural reasons for underpricing, we investigate the accuracy of analysts’ valuations made prior to initial public offerings. Using a unique set of data, we find a disappointing lack of accuracy, not only in the results of valuations but also in the underlying forecasts of revenues. | pl_PL |
| dc.description.abstract | W artykule dokonujemy przeglądu teorii, cech aktywności i niedoszacowania cen emisyjnych (IPO underpricing) pierwszych ofert publicznych na Rynku Głównym Giełdy Papierów Wartościowych w Warszawie. Potwierdzamy, iż wiele zjawisk związanych z IPO nie ma charakteru stałego. Bazując na behawioralnych aspektach niedoszacowania cen emisyjnych akcji weryfikujemy dokładność wycen giełdowych sporządzanych przez analityków przed pierwszymi ofertami publicznymi. Analizując bazę danych stworzoną na potrzeby artykułu obserwujemy rozczarowujący brak dokładności nie tylko w zakresie wycen spółek, ale także w prognozach przychodów, na których owe wyceny bazują. | pl_PL |
| dc.description.sponsorship | The project implemented with Narodowy Bank Polski under the Economic Education Programme. | pl_PL |
| dc.language.iso | en | pl_PL |
| dc.publisher | Wydawnictwo Uniwersytetu Łódzkiego | pl_PL |
| dc.relation.ispartofseries | Acta Universitatis Lodziensis. Folia Oeconomica;310 | |
| dc.subject | IPO | pl_PL |
| dc.subject | underpricing | pl_PL |
| dc.subject | Poland | pl_PL |
| dc.subject | behavioural finance | pl_PL |
| dc.subject | oferty publiczne | pl_PL |
| dc.subject | Polska | pl_PL |
| dc.subject | finanse behawioralne | pl_PL |
| dc.title | IPO Underpricing and Financial Analysts’ Forecast Accuracy in Poland | pl_PL |
| dc.title.alternative | Niedoszacowanie cen emisyjnych pierwszych ofert publicznych akcji oraz dokładność prognoz analityków w Polsce | pl_PL |
| dc.type | Article | pl_PL |
| dc.rights.holder | © Copyright by Uniwersytet Łódzki, Łódź 2015 | pl_PL |
| dc.page.number | [117]-131 | pl_PL |
| dc.contributor.authorAffiliation | Przemysław Pomykalski - Lodz University of Technology, Faculty of Organization and Management | pl_PL |
| dc.contributor.authorAffiliation | Maciej Domagalski - Lodz University of Technology | pl_PL |
| dc.identifier.eissn | 2353-7663 | |
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| dc.identifier.doi | 10.18778/0208-6021.310.09 | |
| dc.relation.volume | 1 | pl_PL |
