Detail výsledku
Fuzzy Model as a Tool for Going Public Predictions
Zinecker Marek, prof. Ing., Ph.D., ÚE (FP)
Meluzín Tomáš, prof. Ing., Ph.D., ÚE (FP)
The purpose of this paper is to present a proposal of a decision support model based on the fuzzy logic. Fuzzy models are a suitable tool as they offer the chance of working with both absolute and relative quantitative indicators. The main part of the creation of our model was the selection of key variables (macroeconomic indicators) determining the number of initial public offerings (IPOs) under the conditions of the Polish capital market between 2000 and 2013. The Polish primary capital market belongs currently to the most developed capital markets in Europe in terms of both the volume and value of IPOs. The knowledge base of the model is a set of statements. These statements
describe real situations, in our case macroeconomic and capital market indicators characterizing the external conditions for IPOs. The weight of these conditional statements or variables determines the extent of the given statements relevance. Our knowledge base includes 14 conditional statements. The outcome of our research is a model proposal which supports managers in decision making about the timing of going public. Choosing the right time of an IPO may help issuers to increase the probability of a successful subscription of new securities.
IPO, Macroeconomic Determinants, Fuzzy Modelling, Poland, Capital Market
@inproceedings{BUT114737,
author="Vladimíra {Bayerová} and Marek {Zinecker} and Tomáš {Meluzín}",
title="Fuzzy Model as a Tool for Going Public Predictions",
booktitle="Innovation Vision 2020: From Regional Development Sustainability to Global Economic Growth",
year="2015",
series="Innovation Vision 2020",
number="1",
pages="1050--1056",
publisher="International Business Information Management Association (IBIMA)",
address="Amsterdam",
isbn="978-0-9860419-4-5"
}