Impact of quality management on effectiveness of private equity IPO process at Warsaw Stock Exchange
Journal Title: Zeszyty Naukowe Wyższej Szkoły Humanitas Zarządzanie - Year 2015, Vol 16, Issue 1
Abstract
Private equity is a complex asset class, which involves many aspects of risk in many areas of their operation, which should be identified, described and managed in the right way. One of the elements of the investment process is the divestment, the way has a huge impact on the efficiency of funds achieved returns. One of the most desirable ways to exit the investment is the sale of shares through the public stock exchange - IPO. The article discusses the topic of the effectiveness of the IPO process is carried out by private equity funds operating in Poland in the period 2000-2011 with particular emphasis on quality management team and the reputation of the fund. Based on these data it is clear that private equity funds in the IPO process is more efficient than the rest of the market by an average of 1.8 percentage points in the valuation of the company and determining the issue price.
Authors and Affiliations
Piotr Zasępa
Keywords
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