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Regular version of the site

Article

IPO of Russian Banks: the Crisis Effect on the Market Value of the Stocks

International Journal of Business and Social Science. 2012. Vol. 3. No. 1. P. 59-65.
Balkovskaya D., Stulova N.

The process of the IPO of banks in Russia is its infancy but the rapid growth is forecasted. This context raises the issue of the factors determining the floated banks stock value. The results of the research on 2007-2009 Russian data showed that the bank stock price is dependent on the macroeconomic indicators (such as the oil prices and the Dow Jones index volatility) and the some banking system indicators(the interbank interest rate, the bank’s ROA, and ROE). However, the results adjusted to the global financial crisis effect proved to exclude the ROE factor and showed the dependence of the stocks prices of the floated banks from the historic trend of the American economy. The models developed are of  the practical application and can be used by the institutional as well as the private investors.