Privatization Versus Private Sector Initial Public Offerings in Poland

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Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Privatization Versus Private Sector Initial Public Offerings in Poland by : Wolfgang Aussenegg

Download or read book Privatization Versus Private Sector Initial Public Offerings in Poland written by Wolfgang Aussenegg and published by . This book was released on 2016 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article compares the characteristics and the price behavior of case-by-case privatization initial public offerings and private sector initial public offerings in Poland over the first nine years after the reopening of the Warsaw Stock Exchange in April 1991. There is evidence that the Polish government is market-oriented, trying to build up reputation for its privatization policy over time by underpricing, selling a high fraction at the initial offer and underpricing more when selling to domestic retail investors. In the long run privatization initial public offerings experience neither an under- nor an over-performance. A lower political influence has no effect on the long-run performance of privatized companies.

Going Public in Poland: Case by Case Privatization and private Sector Initial Public Offerings

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Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.L/5 ( download)

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Book Synopsis Going Public in Poland: Case by Case Privatization and private Sector Initial Public Offerings by : Wolfgang Aussenegg

Download or read book Going Public in Poland: Case by Case Privatization and private Sector Initial Public Offerings written by Wolfgang Aussenegg and published by . This book was released on 1999 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Going Public in Poland

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Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (494 download)

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Book Synopsis Going Public in Poland by : Wolfgang Aussenegg

Download or read book Going Public in Poland written by Wolfgang Aussenegg and published by . This book was released on 1999 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Underpricing Effect in Poland, Hungary and Czech Republic

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Publisher : GRIN Verlag
ISBN 13 : 3640120639
Total Pages : 78 pages
Book Rating : 4.6/5 (41 download)

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Book Synopsis Underpricing Effect in Poland, Hungary and Czech Republic by : Tomasz Drobniak

Download or read book Underpricing Effect in Poland, Hungary and Czech Republic written by Tomasz Drobniak and published by GRIN Verlag. This book was released on 2008 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2008 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 3, University of Vienna, 78 entries in the bibliography, language: English, abstract: Auf Englisch: Under the communistic regime whole economy was controlled by the Central Planning Office. When the communistic regime collapsed the whole economy had to be transformed in order to meet open market standards. One of these standards is privatisation process. Hungary, Czech Republic and Poland choose a different approach to this issue, because they implied different strategies. Actually you can speak about three different privatisation scenarios. Auf Deutsch: Alle drei L nder haben 1989 am gleichen Startpunkt angefangen, sie mussten n mlich Marktwirtschaftreformen und Privatisierung durchf hren. Kurz nach dem Start haben sich aber ihre Wege getrennt. Nach 17 Jahren kann man von ber 3 verschiedenen Privatisierungsbeispielen sprechen. Dieses Thema ist ziemlich unfangreich, deshalb m chte ich mich nur auf den Underpricingeffekt in Polen, Ungarn und Tschechien konzentrieren. Meine Ergebnisse zeigen, dass dieser Effekt in diesen 3 L ndern unterschiedlich stark ist und die Privatisierungsmethode ihn beeinflussen k nnte. Auf der ungarischen und polnischen B rse kann man die "hei en" und "kalten" Phasen erkennen. Ziemlich un blich ist, dass man den "money left on the table"-Effekt in Polen beobachten kann, aber die Geldsummen minimal sind.

The Analysis of Effects of Initial Public Offering on the Warsaw Stock Exchange

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Publisher : GRIN Verlag
ISBN 13 : 3638484475
Total Pages : 46 pages
Book Rating : 4.6/5 (384 download)

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Book Synopsis The Analysis of Effects of Initial Public Offering on the Warsaw Stock Exchange by : Katarzyna Kopczewska

Download or read book The Analysis of Effects of Initial Public Offering on the Warsaw Stock Exchange written by Katarzyna Kopczewska and published by GRIN Verlag. This book was released on 2006-03-29 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (postgraduate) from the year 2003 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: advanced, Warsaw University (Faculty of Economic Sciences), language: English, abstract: European integration will have a real influence on the shape of the financial market in Poland and in other former socialistic countries which undergone the transformation. To stop the tendency of weakening of Polish stock exchange it is important to recognize mechanisms influencing the decisions of companies about the public sale of shares. Decision of companies about the entry on the stock exchange is driven with the expectation that it will help them in the realization of the particular goals. There are many primary reasons for issuing shares, among other to gain the capital on investments, to acquire prestige, to increase sale etc. In Poland till now the entry on the stock exchange of some companies was a method of the privatization, however this process extinguishes. Going public companies will be owned by private businessmen. Hence, very important is to recognize the original mechanisms of initial public offering (IPO). The analysis of IPO effects, enforced with the use of panel models points, that thanks to funds from going public the company realize investment projects and use resources in compliance with declared destination, i.e. on investments, and not on the debts repayment. Public companies do not change their previous capital structure, the debts after the entry on the stock exchange grow to the level from before IPO. Listing on the stock exchange raises the size of the company, but lowers the rate of its growth and decreases the profitability. Findings from research confirm hypotheses that companies go public from the opportunistic motives and then by the way they realize investment programmes.

Privatization in Hungary, Poland and Czechoslovakia

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Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.X/5 (2 download)

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Book Synopsis Privatization in Hungary, Poland and Czechoslovakia by : P. G. Hare

Download or read book Privatization in Hungary, Poland and Czechoslovakia written by P. G. Hare and published by . This book was released on 1991 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Privatization Experiences in the European Union

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Publisher : MIT Press
ISBN 13 : 0262112965
Total Pages : 445 pages
Book Rating : 4.2/5 (621 download)

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Book Synopsis Privatization Experiences in the European Union by : Marko Köthenbürger

Download or read book Privatization Experiences in the European Union written by Marko Köthenbürger and published by MIT Press. This book was released on 2006 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experts evaluate the varied outcomes of privatization experiences in Austria, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Spain, and the UK. The trend toward privatization, which began with privatization experiments in the UK under Margaret Thatcher and the deregulation of the telecommunications sector in the United States, has attracted the attention of policymakers over the past two decades. Privatization is broadly supported by most academic economists, but the results of actual privatization efforts seem mixed. In the UK, for example, telecom rates fell sharply after privatization, but privatized rail service was widely perceived to have declined dramatically in quality. In this CESifo volume, international experts examine the experiences of 10 EU countries, evaluating the real outcomes of privatization policies in Austria, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Spain, and the UK.The effects of privatization--which includes not only changes in ownership of public activitiesand entities but also liberalization of markets and deregulation--are difficult to distinguish from the effects of other economywide influences. The studies in this volume meet this methodological challenge by using a well-defined set of criteria, including reducing consumer prices, increasing quantity, and improving quality, by which to make their assessments. Background chapters provide a conceptual framework for considering the issues. Contributors Pablo Arocena, Sean D. Barrett, Ansgar Belke, Michel Berne, Henrik Christoffersen, Andrea Goldstein, Günter Knieps, David Newbery, Martin Paldam, David Parker, Gérard Pogorel, Friedrich Schneider, Eric van Damme, Ingo Vogelsang, Johan Willner

BANK PRIVATIZATION IN POLAND: THE CASE OF BANK SLASKI

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Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.L/5 ( download)

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Book Synopsis BANK PRIVATIZATION IN POLAND: THE CASE OF BANK SLASKI by : JEFFERY ABARBANELL AND JOHN BONIN

Download or read book BANK PRIVATIZATION IN POLAND: THE CASE OF BANK SLASKI written by JEFFERY ABARBANELL AND JOHN BONIN and published by . This book was released on 1997 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Privatization in Eastern Europe

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Publisher : Central European University Press
ISBN 13 : 9633864917
Total Pages : 239 pages
Book Rating : 4.6/5 (338 download)

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Book Synopsis Privatization in Eastern Europe by : Roman Frydman

Download or read book Privatization in Eastern Europe written by Roman Frydman and published by Central European University Press. This book was released on 1994-01-01 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.

A Survey of the European IPO Market

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Publisher : CEPS
ISBN 13 : 9290796588
Total Pages : 94 pages
Book Rating : 4.2/5 (97 download)

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Book Synopsis A Survey of the European IPO Market by :

Download or read book A Survey of the European IPO Market written by and published by CEPS. This book was released on 2006 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Initial Public Offerings on the Polish Capital Market

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Publisher :
ISBN 13 :
Total Pages : 71 pages
Book Rating : 4.:/5 (464 download)

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Book Synopsis Initial Public Offerings on the Polish Capital Market by : Dagmara Loposzynska

Download or read book Initial Public Offerings on the Polish Capital Market written by Dagmara Loposzynska and published by . This book was released on 2002 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Initial Public Offerings (IPO)

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Publisher : Elsevier
ISBN 13 : 0080461670
Total Pages : 463 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Initial Public Offerings (IPO) by : Greg N. Gregoriou

Download or read book Initial Public Offerings (IPO) written by Greg N. Gregoriou and published by Elsevier. This book was released on 2011-04-01 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the cooling off of IPOs since the dot com bubble, Google has rekindled the fire for IPOs. This IPO reader contains new articles exclusive to this reader by leading academics from around the world dealing with quantitative and qualitative analyses of this increasingly popular and important area of finance. Articles address new methods of IPO performance, international IPOs, IPO evaluation, IPO underwriting, evaluation and bookbuilding. Although numerous articles are technical in nature, with econometric and statistical models, particular attention has been directed towards the understanding and the applicability of the results as well as theoretical development in this area. This reader will assist researchers, academics, and graduate students to further understand the latest research on IPOs. *Interest in IPOs is increasing again after the Google IPO, and IPOs are up significantly from last year *Chapters by well known academics provide an international perspective, describing research results from IPO data in countries spanning the globe *Research is based on real results from IPO data collected over the past 5-7 years

The Financial Economics of Privatization

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Publisher : Oxford University Press
ISBN 13 : 0195150627
Total Pages : 533 pages
Book Rating : 4.1/5 (951 download)

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Book Synopsis The Financial Economics of Privatization by : William L. Megginson

Download or read book The Financial Economics of Privatization written by William L. Megginson and published by Oxford University Press. This book was released on 2005-01-13 with total page 533 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central to the book's content is its focus on where privatisation stands today and what are the next frontiers, the why and how behind countries who privatise certain industries, and whether privatisation works as an economic tool.

Stabilization and Privatization in Poland

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Publisher : Springer Science & Business Media
ISBN 13 : 9401122067
Total Pages : 268 pages
Book Rating : 4.4/5 (11 download)

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Book Synopsis Stabilization and Privatization in Poland by : K. Poznanski

Download or read book Stabilization and Privatization in Poland written by K. Poznanski and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stabilization and Privatization: An Economic Evaluation of the Shock Therapy Program is the first comprehensive account of Poland's economic transition since mid-1989. Monetary stabilization, trade liberalization (including convertibility) and privatization of state capital assets are discussed. Sources of economic recession which have accompanied the post-1989 transition are analyzed. The role of demand-side factors (i.e. monetary contraction) is weighed against that of supply-side factors (i.e. credit availability). The prevailing view is that the recession has been supply-type rather than demand-type. Economic performance has been impacted by the lack of a proper institutional framework (e.g. a segmented banking sector, diluted property rights). Arguments in favor of evolutionary reforms and market enhancing measures are presented. Stabilization and Privatization examines the main components of Poland's shock therapy program implemented in 1990. Post-shock recession, lasting at least through 1992, is examined to establish whether a sharp decline in output was caused by excessive demand contraction or lack of accommodating credit policies. The merits of an evolutionary approach and a more proactive state are debated.

The Future of State-Owned Financial Institutions

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Publisher : Rowman & Littlefield
ISBN 13 : 0815717067
Total Pages : 396 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis The Future of State-Owned Financial Institutions by : Gerard Caprio

Download or read book The Future of State-Owned Financial Institutions written by Gerard Caprio and published by Rowman & Littlefield. This book was released on 2010-12-01 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research suggests that if the majority of a country's financial institutions are owned by the state, that country will experience slower financial development, less efficient financial systems, less private sector credit, and slower GDP growth. Yet more than 40 percent of the world's population live in countries in which public sector institutions dominate the banking system. In The Role of State-Owned Financial Institutions: Policy and Practice noted experts discuss the challenges presented by state-owned financial institutions and offer cross-disciplinary solutions for policymakers and banking regulators. The issues include: methods for effectively managing, reforming, and privatizing state-owned banks; the fiscal costs and contingent liabilities of state-owned banks; macroeconomic implications and the impact of state-owned banking on access to credit in an economy; guidance for effective supervision of state-owned banks; managerial perspectives on improving products, human resources, and risk; management case studies of different methods of privatization, such as initial public offerings, employee stock ownership plans, and strategic investors Contributors include David Binns (Beyster Institute), Robert Cull (World Bank), Ron Gilbert (ESOP Services), James A. Hanson (World Bank), Richard Hemming (International Monetary Fund), Fred Huibers (ING Research), Arminio Fraga (formerly Central Bank of Brazil), Nicholas Lardy (Institute for International Economics), David Marston (International Monetary Fund), Moody's Global Investor Service, Herman Mulder (ABN-Amro), William Nichol (Deutsche Bank AG), Urjit Patel (Infrastructure Development Finance Company, India), and P. S. Srinivas (World Bank).

The Privatization Process in Central Europe

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Publisher : Central European University Press
ISBN 13 : 9633865026
Total Pages : 278 pages
Book Rating : 4.6/5 (338 download)

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Book Synopsis The Privatization Process in Central Europe by : Roman Frydman

Download or read book The Privatization Process in Central Europe written by Roman Frydman and published by Central European University Press. This book was released on 1993-06-01 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this work, comprehensive comparative information on five Central European countries has been collected by teams of researchers from both within the region and from the West. Following an introduction to the economic environment in each country, it provides an overview of the privatization process, including an account of the legal framework of ownership, institutions for state regulation, an overview of privatization programmes and the initial transformation of enterprises. A key feature of the book is the authors' access to hitherto unavailable information and their ability to present a vast amount of material in an easily available format. Aimed at policy makers and business people, the work should provide a strong foundation for future research.

Privatization in Competitive Sectors

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4./5 ( download)

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Book Synopsis Privatization in Competitive Sectors by : Sunita Kikeri

Download or read book Privatization in Competitive Sectors written by Sunita Kikeri and published by World Bank Publications. This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: