+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Finance and Credit
 

Potential of the Russian IPO market

Vol. 30, Iss. 4, APRIL 2024

Received: 30 November 2023

Received in revised form: 14 December 2023

Accepted: 28 December 2023

Available online: 26 April 2024

Subject Heading: Securities market

JEL Classification: Е44, G10, G19

Pages: 830–850

https://doi.org/10.24891/fc.30.4.830

Valerii V. SMIRNOV I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
v2v3s4@mail.ru

https://orcid.org/0000-0002-6198-3157

Subject. This article discusses the development of the Russian IPO market.
Objectives. The article aims to determine the potential of the Russian IPO market.
Methods. For the study, I used analysis and synthesis, special economic and mathematical methods, correlation and regression analysis, and the graphical method.
Results. The article determines the high volatility of the trade balance and its growth rates within a certain corridor of the volume of international reserves sufficient to finance three-month imports of goods and services, it identifies changes in the increase in the excess of short-term liabilities over long-term liabilities and the outstripping growth in the volume of quoted shares of Russian issuers relative to debt securities in the domestic market.
Conclusions. The identified potential of the Russian IPO market informs the expert community about the opportunities for the development of the financial market.

Keywords: shares, exchange rate, debt securities, international reserves, trade balance

References:

  1. Lukina Yu.A. [The role of financial reporting for non-professional investors at the stage of selecting investment objects]. Modern Economy Success, 2023, no. 1, pp. 332‒339. (In Russ.)
  2. Vinshu D.V. [The stock market in Russia:current state and prospects of development]. Ekonomika: vchera, segodnya, zavtra = Economics: Yesterday, Today and Tomorrow, 2023, vol. 13, no. 4A, pp. 536‒542. URL: Link (In Russ.)
  3. Sosnilo A.I., Onore A.S., Onore G.S. [Analysis and evaluation of the efficiency of IPO of Russian companies]. Nauchnyi zhurnal NIU ITMO. Seriya: Ekonomika i ekologicheskii menedzhment, 2023, no. 1, pp. 27‒33. (In Russ.) URL: Link
  4. Pokamestov I.E., Romanchuk K.V. [IPO as a way to improve a company's investment attractiveness]. Aktual'nye voprosy sovremennoi ekonomiki, 2023, no. 5, pp. 595‒605. (In Russ.) URL: Link#
  5. Akhmetgalieva D.V., Kopchugov A.V. [IPO of a corporation and its effectiveness: long-term aspect]. Biznes i obshchestvo, 2023, no. 2. (In Russ.) URL: Link
  6. Meles A., Salerno D. Abnormal Operating Performance in IPOs: Does Public Float Matter? International Review of Financial Analysis, 2020, vol. 71, 101523. URL: Link
  7. Premti A., Smith G. Earnings Management in the pre-IPO Process: Biases and Predictors. Research in International Business and Finance, 2020, vol. 52, 101120. URL: Link
  8. Svatkova E.L., Kuskov A.N. [Impact of the stock market on Russia's GDP]. Ekonomika i biznes: teoriya i praktika = Economy and Business: Theory and Practice, 2023, no. 4-2, pp. 140‒145. URL: Link (In Russ.)
  9. Galynis K.I. [Development trends of the Russian stock market]. Innovatsii i investitsii = Innovations and Investments, 2023, no. 6, pp. 208‒211. (In Russ.) URL: Link
  10. Gorovoi A.A., Fed'ko T.S. [The problems of a small number of IPO in Russia]. Vestnik Akademii znanii = Bulletin of the Academy of Knowledge, 2023, no. 2, pp. 307‒312. URL: Link (In Russ.)
  11. Kandrashina E.A., Kuz'mina O.Yu., Safiullin L.N., Gaizatullin R.R. [IPO and its modern multiple use]. Kreativnaya ekonomika = Journal of Creative Economy, 2023, vol. 17, no. 9, pp. 3517‒3530. (In Russ.) URL: Link
  12. Stepanov V.V. [On the analysis of practices for assessing the value and application of IPOs in high-tech business in Russia]. Ekonomika i upravlenie: problemy, resheniya = Economics and Management: Problems, Solutions, 2023, vol. 2, no. 10, pp. 122–129. (In Russ.)
  13. Romanchuk K.V. [Evaluation of the effectiveness of IPOs of public companies in Russia and Germany]. Vestnik Evraziiskoi nauki, 2023, vol. 15, no. S1. (In Russ.) URL: Link
  14. Polilov V.A. [Attracting investments by entering the securities market (IPO)]. Ekonomika i biznes: teoriya i praktika = Economy and Business: Theory and Practice, 2023, no. 6-2, pp. 110‒115. URL: Link (In Russ.)
  15. Blank D.A. [Development of the process of tokenization of pre-IPO transactions]. Auditorskie vedomosti = Auditor Journal, 2023, no. 1, pp. 32‒35. (In Russ.)
  16. Zhang Z., Zhang D., Jiang S. et al. The Effect of Language on IPO Underpricing: Evidence from a Multinational Research. International Review of Financial Analysis, 2023, vol. 89, 102717. URL: Link
  17. Kanagaretnam K., Lee J., Lim C.Y., Lobo G.J. Trusting the Stock Market: Further Evidence from IPOs around the World. Journal of Banking & Finance, 2022, vol. 142, 106557. URL: Link
  18. Boulton T.J. Economic Policy Uncertainty and International IPO Underpricing. Journal of International Financial Markets, Institutions and Money, 2022, vol. 81, 101689. URL: Link
  19. Espenlaub S., Goyal A., Mohamed A. The Impact of Shareholders and Creditors Rights on IPO Performance: An International Study. The British Accounting Review, 2020, vol. 52, iss. 1, 100872. URL: Link
  20. Bartlett III R.P., Rose P., Solomon S.D. The Small IPO and the Investing Preferences of Mutual Funds. Journal of Corporate Finance, 2017, vol. 47, pp. 151‒173. URL: Link

View all articles of issue

 

ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 30, Iss. 4
April 2024

Archive