Publication detail

Institutional Settings and their Impact on the IPO Activity: An Exploratory Study Based on Qualitative Modelling

MELUZÍN, T. ZINECKER, M. BALCERZAK, A. PIETRZAK, M. DOUBRAVSKÝ, K.

Original Title

Institutional Settings and their Impact on the IPO Activity: An Exploratory Study Based on Qualitative Modelling

Type

journal article in Web of Science

Language

English

Original Abstract

This article deals with the propagation of rumours about the introduction of institutional settings, which are intended to make the going public strategy in a country more attractive. Rumours significantly affect the level of uncertainty and can be both positive – if the market responds by increasing the initial public offering activity – or negative – if the market responds by a drop of primary issues. We document how the going public activity in a country might be promoted if both positive and negative rumours occur. The rumour spreading model called SIRaRu and qualitative trend-based modelling are applied. There are no quantifiers such as numbers or fuzzy sets needed. Altogether 17 variables are used to capture two dimensions of general institutional quality and internal state of the company. The numerical calculations result in a set S of 9 scenarios, which are complemented by a set T of 46 transitions. Hence, any past and future behaviour of the qualitative model QS can be reconstructed as a sequence of obtained scenarios. Moreover, a graphic solution was derived to study the behaviour of selected variables on the timeline.

Keywords

institutional economics; rumours; IPO; qualitative trend models; scenarios

Authors

MELUZÍN, T.; ZINECKER, M.; BALCERZAK, A.; PIETRZAK, M.; DOUBRAVSKÝ, K.

Released

25. 1. 2021

Publisher

Óbuda University and IEEE Hungary Section

Location

Budapest/Hungary

ISBN

1785-8860

Periodical

ACTA POLYTECH HUNG

Year of study

18

Number

2

State

Hungary

Pages from

215

Pages to

234

Pages count

21

URL

http://acta.uni-obuda.hu/Meluzin_Zinecker_Balcerzak_Pietrzak_Doubravsky_109.pdf

BibTex

@article{BUT169868,
  author="Tomáš {Meluzín} and Marek {Zinecker} and Adam Przemyslaw {Balcerzak} and Michał Bernard {Pietrzak} and Karel {Doubravský}",
  title="Institutional Settings and their Impact on the IPO Activity: An Exploratory Study Based on Qualitative Modelling",
  journal="ACTA POLYTECH HUNG",
  year="2021",
  volume="18",
  number="2",
  pages="215--234",
  doi="10.12700/APH.18.2.2021.2.12",
  issn="1785-8860",
  url="http://acta.uni-obuda.hu/Meluzin_Zinecker_Balcerzak_Pietrzak_Doubravsky_109.pdf"
}