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This article examines the factors that determine IPO success in raising equity capital, and how this success translates into investor success. The study is based on a sample of IPOs on the Warsaw Stock Exchange from 1998 to 2011. We find that pre-IPO profitability is a strong and positive signal...
Persistent link: https://www.econbiz.de/10011890952
In this paper we investigate the characteristics of the low price anomaly, which implies higher returns to stocks with a low nominal price. The research aims to broaden academic knowledge in a few ways. Firstly, we deliver some fresh evidence on the low price effect from the Polish market....
Persistent link: https://www.econbiz.de/10010780754
practitioners only with regard to short-term investment decisions. …
Persistent link: https://www.econbiz.de/10011760471
A strong innovation performance based on R&D, product development and the implementation of advanced production technologies is key for the long-term competitiveness of European economies. This study investigates the effects of production offshoring on R&D and innovation activities of the firm...
Persistent link: https://www.econbiz.de/10011392629
ownership and capital demand adjustment in host countries. The author estimates a dynamic structural model of investment on a …
Persistent link: https://www.econbiz.de/10011290859
We investigate the effects of production offshoring on the innovation activities of manufacturing firms in the home country. The analysis is based on a dataset of more than 3000 manufacturing firms from seven European countries. We find that offshoring firms on average employ a higher share of...
Persistent link: https://www.econbiz.de/10010234572
taxes impair subsidiary-level investment efficiency. Consistent with internal agency conflicts between the central …-level investment efficiency while reducing the level of investment. Our paper provides timely empirical evidence to inform expectations …
Persistent link: https://www.econbiz.de/10011922836
Tax incentives are a key component of governments’ investment policy mix as they directly impact companies’ tax burden …. In this paper, we illustrate the EU’s tax attractiveness as investment location over time in terms of effective average …
Persistent link: https://www.econbiz.de/10014472323
Durch Bereitstellung von Krediten tragen Banken zur Transformation von Finanzkapital in Sachkapital bei. Die Kreditvergabepolitik der Schweizer Banken hat sich im vergangenen Vierteljahrhundert stark gewandelt. Basierend auf einem Datensatz (1987-2012) mit bankengruppenspezifischen Bilanzdaten...
Persistent link: https://www.econbiz.de/10009764876
financially turbulent periods in the 2000s in making investment decisions and in meeting demand for liquidity. A rise in … uncertainty regarding the ability to obtain external funds may have induced firms to rely on internal funds to finance investment … activities. Therefore, we shed light on the cash flow sensitivity of investment and cash holdings by estimating firm- level …
Persistent link: https://www.econbiz.de/10009734202