Does public offering improve company’s financial performance? The example of Poland

Pastusiak, Radosław; Miszczyńska, Katarzyna; Krzeczewski, Bartłomiej

doi:10.1080/1331677x.2016.1152559

Cited by 9 publications

(9 citation statements)

References 15 publications

(32 reference statements)

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“…For example, Chi and Padgett (2006) show earning per share, return on equity and return on asset, sales growth rate, and asset efficiency, and leverage (debt to assets ratio) decrease among Chinese IPOs. Pastusiak et al (2016) find the return on equity and return on asset decrease after IPO, but operating profit margin and net profit margin go up in the IPO in Poland.…”

Section: Introductionmentioning

confidence: 86%

Financial Performance Analysis Surrounding Indonesian Initial Public Offerings

2020

IJRSM

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One of the ways to find out the performance of company making Initial Public Offering (IPO) is through the financial performance analysis. The analysis would help investors prior to deciding to buy the stocks of the company. Financial ratios are a common tool used in making financial statement analysis. This study aims to analyze whether the companies’ financial performance improves after the IPO. This research is quantitative research using secondary data. The sample consists of 59 companies’ making IPOs on the Indonesia Stock Exchange from 2010 to 2014. Results indicate that only Current Ratio increases significantly over three years after the IPO. The other ratios, i.e., Debt to Asset Ratio, Debt to Equity Ratio, Total Asset Turnover, Net Profit Margin and Return on Equity decrease. Overall, the financial performance of the companies tends to worsen, except for liquidity ratio.

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Section: Introductionmentioning

confidence: 86%

Financial Performance Analysis Surrounding Indonesian Initial Public Offerings

2020

IJRSM

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“…Herewith, a Granger causality test and predictive regression were conducted to find out the relationships between share returns and sentiment proxies. Interestingly, many small and medium enterprises (SMEs) yearned to be listed in the share exchange market as to acquire funds in the pursuit for wealth maximation (Pastusiak et al 2016). Therefore, the findings from this paper also may benefit SMEs to utilise this notion as another aspiration towards their goal.…”

Section: Introductionmentioning

confidence: 87%

Investor Sentiment, Portfolio Returns, and Macroeconomic Variables

Banchit

Abidin

Lim

et al. 2020

JRFM

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Investor sentiment is an important aspect of behavioural finance, which provides explanation of anomalies to the asset’s intrinsic values. Sentiments can easily affect individual investors. Historically, Australia is regarded as rich in resources but poor in capital, and this motivates the paper to further study and compare the effects of investor sentiment on performance returns. Aggregate and cross-sectional effects, as well as predictive regression analysis to forecast the relationships, while controlling for the macroeconomic variables, are used by employing Consumer Confidence Index (CCI) and trade volume as sentiment proxies. Contrary to some studies with aggregate stock markets, it is discovered that in the short term, investor sentiment poses a positive impact with strong predictive power on the forecast of portfolio returns but not so much in the long run, which supports the classical theories of rational investors. In both Australian and New Zealand markets, the sentiment proxies also cannot predict the returns portfolios with dividends in the long/short portfolio and book-to-market ratio long/short portfolio.

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“…Kegiatan yang dilakukan di pasar modal diantaranya terkait penawaran umum dan perdagangan efek (Mar'ati, 2010). Keputusan perusahaan untuk mencatatkan sahamnya di bursa untuk mengembangkan usahanya didasari oleh berbagai alasan baik finansial maupun nonfinasial (Pastusiak et al, 2016). Tidak semua perusahaan yang mencatatkan kepemilikannya atau saham di bursa dapat bertahan.…”

Section: Investasiunclassified

Determinasi Financial Distress Terhadap Return Saham

Paramita

Ramdani

2022

Jurnal Ilmu Manajemen Saburai

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Mini riset ini bertujuan untuk mengetahui determinasi kesulitan keuangan/financial distress dengan proksi Altman z score terhadap imbal hasil saham pada perusahaan subklasifikasi industri restoran, hotel dan pariwisata yang terdaftar di Bursa Efek Indonesia tahun 2018-2020. Jenis penelitian ini tergolong penelitian kuantitatif. Analisis data berupa analisis regresi linier berganda menggunakan SPSS 25. Teknik pengambilan sampel adalah purposive sampling yang menghasilkan 20 sampel perusahaan. Hasil penelitian menunjukkan bahwa Earning Before Interest and Tax to Total Assets (EBITTA) dan Market Value of Equity to Book Value Of Debt (MVEBVD) secara parsial berpengaruh positif terhadap return saham. Komponen lainnya yaitu Working Capital to Total Assets (WCTA), Sales to Total Assets (STA) dan Retained Earnings to Total Assets (RETA) secara parsial tidak berpengaruh terhadap imbal hasil saham. Komponen prediktor financial distress secara simultan mempengaruhi imbal hasil saham.

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Does public offering improve company’s financial performance? The example of Poland

Cited by 9 publications

References 15 publications

Financial Performance Analysis Surrounding Indonesian Initial Public Offerings

Financial Performance Analysis Surrounding Indonesian Initial Public Offerings

Investor Sentiment, Portfolio Returns, and Macroeconomic Variables

Determinasi Financial Distress Terhadap Return Saham

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