Empirical Research on Investor Behavior in Pre-Listing and Post-Listing Periods - A Comparative Analysis Between the Regulated Market and the MTF Aero Administered by the Bucharest Stock Exchange

Ioan-Ovidiu Spătăcean () and Dorinel-Vasile Todoran ()
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Ioan-Ovidiu Spătăcean: Faculty of Economics and Law, ED1 Department – Economic Sciences, University of Medicine, Pharmacy, Sciences and Technology “George Emil Palade” from Targu Mures, Gh. Marinescu Street, no. 38, Targu Mures, 540139, Romania
Dorinel-Vasile Todoran: -

Acta Marisiensis. Series Oeconomica, 2022, vol. 1, 41-50

Abstract: Investor behavior around an initial public offering or private placement can make the difference between a successful investment or a potential loss. Through the present research, the correlation of investors' behavior with the possible discount of the share granted in the case of initial offers was sought. The large number of companies listed on the Bucharest Stock Exchange in 2021(23) compared to 2020(3) denotes the fact that the SARS-COV2 virus was a certain catalyst of interest for investors and companies to enter the Romanian capital market. From another point of view, we observe a strong orientation of companies towards MTF AeRO. Out of the total of 26 analyzed companies, only 3 of them chose the regulated market for trading.

Keywords: initial public offering; private placement; share discount; MTF AeRO; regulated market (search for similar items in EconPapers)
JEL-codes: G24 G32 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:pmu:oecono:v:1:y:2022:p:41-50

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