The article shows that within the analyzed period of time there can be observed small discount in the market valuation of the new enterprises in comparison to the old ones. Maximum discount (12,31%) appears after ten months from the first appearance on the stock exchange. There is also 4,17% discount in the finished three years analyzed period.
Financed by the National Centre for Research and Development under grant No. SP/I/1/77065/10 by the strategic scientific research and experimental development program:
SYNAT - “Interdisciplinary System for Interactive Scientific and Scientific-Technical Information”.