• A
  • A
  • A
  • АБВ
  • АБВ
  • АБВ
  • A
  • A
  • A
  • A
  • A
Обычная версия сайта
  • RU
  • EN
  • HSE University
  • Publications
  • Articles
  • Эффективность публичных размещений акций российских банков и компаний
  • RU
  • EN
Расширенный поиск
Высшая школа экономики
Национальный исследовательский университет
Priority areas
  • business informatics
  • economics
  • engineering science
  • humanitarian
  • IT and mathematics
  • law
  • management
  • mathematics
  • sociology
  • state and public administration
by year
  • 2027
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
  • 2001
  • 2000
  • 1999
  • 1998
  • 1997
  • 1996
  • 1995
  • 1994
  • 1993
  • 1992
  • 1991
  • 1990
  • 1989
  • 1988
  • 1987
  • 1986
  • 1985
  • 1984
  • 1983
  • 1982
  • 1981
  • 1980
  • 1979
  • 1978
  • 1977
  • 1976
  • 1975
  • 1974
  • 1973
  • 1972
  • 1971
  • 1970
  • 1969
  • 1968
  • 1967
  • 1966
  • 1965
  • 1964
  • 1963
  • 1958
  • More
Subject
News
July 24, 2026
'Physics Is What the World Is Literally Built On'
Physicist Nina Dzhanayeva, recipient of a Vladimir Potanin Foundation scholarship, focuses her research on nanophotonics. In this interview for the HSE Young Scientists project, she discusses nanowells, scientific intuition, and how physics can help in making frangipane cream puffs.
July 20, 2026
Scientists Create Open Dataset for Studying Concentration
A team of Russian researchers, including scientists from HSE University–St Petersburg, has developed the first open multimodal dataset containing recordings of brain activity, heart function, and video observations to help researchers understand what happens in the human brain during deep concentration. In the future, the dataset could accelerate the development of neural interfaces, rehabilitation technologies, and AI systems. The article has been published in Scientific Data.
July 20, 2026
‘Science Is Universal-It Knows No Borders
Fuad Aleskerov, Tenured Professor and Director of the International Centre of Decision Choice and Analysis at HSE University, together with his colleagues, has developed methods of network analysis in bibliometrics that have made it possible to identify patterns in the appearance and citation of publications in academic journals, as well as their influence on each other. When one or a number of studies are frequently cited by a wide range of journals, this is an indicator that the research is of high quality. By contrast, extensive cross-citation within a limited group of journals increases the likelihood of identifying a network of predatory publications.

 

Have you spotted a typo?
Highlight it, click Ctrl+Enter and send us a message. Thank you for your help!

Publications
  • Books
  • Articles
  • Chapters of books
  • Working papers
  • Report a publication
  • Research at HSE

?

Эффективность публичных размещений акций российских банков и компаний

Банковское дело. 2015. № 9. С. 40–46.
Suchkova E. O., Козеличкина А. А.

This paper investigates the offer price setting process of Russian banks and companies’ public offerings between 2007 and 2014. The results show that Russian banks and companies face the problem of Underpricing that prevents them from getting lager amounts of capitalization

Language: Russian
Full text
Keywords: асимметрия информациинедооценка IPOпервичное публичное размещениеinitial public offering (IPO)information asymmetryIPO underpricing
Similar publications
Гендерное разнообразие совета директоров и недооценка акций при IPO: эмпирический анализ китайских компаний
Alekseeva O., Nazarova V., AlterEconomics (ранее - Журнал экономической теории) 2026 Т. 23 № 2 С. 329–354
IPO underpricing remains one of the most persistent anomalies in capital markets and is particularly pronounced in emerging markets, where information asymmetry and valuation uncertainty are especially high. This article examines the relationship between board gender composition and the level of IPO underpricing among Chinese companies. The study aims to assess whether a higher share ...
Added: July 4, 2026
IPO Underpricing in the Russian Stock Market
Kondratev S., Баталова Е. В., Фролова О. О., Journal of Corporate Finance Research 2024 Vol. 18 No. 3 P. 62–81
This paper investigates stock underpricing in the Russian capital market during initial public offerings in the present-day situation. The econometric study of initial public offerings in the Russian market for 2006–2024 shows that such factors as dividend policy, technological profile of the company, and the difference between the actual and expected offering price in crease ...
Added: April 26, 2026
Risk disclosure or governance signal? Digital technology risks and institutional ownership
Nan D., Wang J., Applied Economics 2026 P. 1–20
Using data from Chinese A-share listed companies from 2007 to 2024, this study examines the market response to corporate digital technology risk disclosure, with a focus on institutional investor holdings. The results show that digital technology risk disclosure increases institutional investor holdings, lending support to the convergence hypothesis of risk disclosure. And this is primarily ...
Added: April 23, 2026
Выплаты по результатам (earnout) в сделках слияний и поглощений на развивающихся рынках капитала
Grigorieva S., Панькова И. Д., Финансы и бизнес 2020 Т. 16 № 3 С. 61–78
One of the main considerations in any M&A transaction is the method of payment. The right choice of method of payment contributes to the reduction of the company's cost of capital, risk diversification, and shareholders' wealth creation. The article presents the analysis of earnout contracts, which have been increasing in popularity in the last decades. ...
Added: April 16, 2021
Влияние выбора акций как средства платежа на эффективность сделок M&A в условиях информационной асимметрии
Grigorieva S., Колмыкова Т. В., Вестник Московского университета. Серия 6: Экономика 2020 № 3 С. 58–77
The choice of stock as a method of payment in M&A deals is usually considered by researchers as a signal of acquirer’s stock overvaluation that is proved by its negative impact on M&A performance. However, this view doesn’t take into account information asymmetry faced by the acquirer. The choice of stock payment may be used ...
Added: September 2, 2020
Estimation of Securities Positioning Efficiency in Commercial Banks
Frolova N., Frolov E., , in: Recent Applications of Financial Risk Modelling and Portfolio Management.: Zagreb: IGI Global, 2021. P. 235–256.
Added: July 6, 2020
Recent Applications of Financial Risk Modelling and Portfolio Management
Frolova N., Фролов Е. С., Zagreb: IGI Global, 2021.
Recent Applications of Financial Risk Modelling and Portfolio Management is a pivotal reference source that provides vital research on the use of modern data analysis as well as quantitative methods for developing successful portfolio and risk management techniques. While highlighting topics such as credit scoring, investment strategies, and budgeting, this publication explores diverse models for achieving ...
Added: July 6, 2020
Институциональные аспекты электромагнитной совместимости
Trubnikova E., Инфокоммуникационные технологии 2010 Т. 5 № 2 С. 86–93
Работа посвящена теоретическому изучению институциональных аспектов обеспечения электромагнитной совместимости в современных условиях. В статье предложены модели для анализа рынка экстерналий, возникающих в процессе деятельности игроков телекоммуникационного рынка, использующих для оказания услуг радиочастотный спектр. ...
Added: November 25, 2019
Рынки доверительных товаров и услуг и их неэффективность
Levin M. I., Перцова Е. В., Финансы и бизнес 2018 Т. 14 № 4 С. 14–23
В статье рассматриваются механизмы работы рынков доверительных товаров и услуг. Типичными примерами доверительных товаров являются ремонт авто- мобилей, медицинские услуги, программирование или поездки на такси в не- знакомом городе. Особое внимание уделено проблеме асимметрии информации на таких рынках и вызванной ею неэффективности. Авторы обсуждают вопросы моделирования рынков доверительных товаров и услуг и рассматривают в качестве ...
Added: October 30, 2019
Асимметрия информации и тенденции рынка научных публикаций
Trubnikova E., Высшее образование в России 2017 Т. 210 № 3 С. 26–36
he article represents the analysis of the market of scientific publications and con- sequences of information asymmetry in this market. Attention is paid to the participants of the market, including different kinds of middle-men that facilitate the interactions between authors and publishers. The purpose of the article is to clarify particular characteristics of the market, ...
Added: October 15, 2019
Going Public: Empirical Study of Motives and Efficiency of IPO in CIS
Ivashkovskaya I., Ponomareva O., Journal of Corporate Finance Research 2008 Vol. 2 No. 4 P. 5–22
The article presents the results of empirical an alysis of IPO’s efficiency for companies from Russia and other emerging markets. At first we examine the structure of the issues and the motives for going public. We analyze the interrelations between the motives and the influence of IPO on the operating results of the firms after IPO. In contrast to most empirical papers ...
Added: February 10, 2019
LANDMARKS OF EFFECTIVE MANAGEMENT DECISIONS IN THE RUSSIAN RAW MATERIAL SECTOR
Ulanov V. L., , in: Economic and Social Development 30th International Scientific Conference on Economic and Social Development.: Varazdin development and Entrepreneurship Agency, 2018. P. 374–382.
To make effective managerial decisions, business needs development guidelines. It is shown, on the example of the Russian raw material sector, that traditional approaches to performance indicators have shortcomings. Part of the proposed models does not reach the set goals in practice. The issues of evolving management on the basis of the criterion of development ...
Added: November 26, 2018
Методология комплексного инновационного анализа социально-экономических реформ
Kamenev I., Креативная экономика 2017 Т. 11 № 3 С. 363–378
The article describes theoretical and methodological issues of the research and planning of social (social-economic) reforms. The object of the study is the social-economic reform. The subject of the research includes social practices and social mechanisms (aims of the change), the content of innovation changes (which can be observed in the field of the reform) ...
Added: May 27, 2018
Раскрытие и предоставление информации о конфликте интересов в деятельности совета директоров акционерного общества
Selivanovskiy A., Andriushova E., Хозяйство и право 2016 № 6 С. 19–37
The article deals with the effectiveness of disclosure requirements on the activities of the board of directors of the company, in terms of overcoming asymmetry information, conflict of interests, as well as the protection of investorsʼ rights and interests of the company. ...
Added: December 26, 2016
Инвестиционные решения компаний в условиях асимметрии информации
Cherkasova V. A., Дуняшева Р. Ф., Экономический журнал Высшей школы экономики 2016 Т. 20 № 4 С. 513–538
We investigate the phenomenon of asymmetric information that is typical in both developed and emerging markets. The purpose of this paper is to explore the impact of asymmetric information on the value-enhancing capital budgeting in emerging markets. This study examines three measures of asymmetric information – general return variation, firm-specific return variation and stock price ...
Added: December 12, 2016
Должно ли тайное становиться явным? Оптимальный дизайн расследования картелей в условиях программы ослабления наказания
Yusupova G. F., Нестеренко Е. Е., Вопросы государственного и муниципального управления 2016 № 3 С. 91–120
Recent trends in the regulation of antitrust legislation have shown that it is necessary to review policy about a method of cartel deterrence. First of all, it is connected with strengthening of a world tendency to collusion in the different markets. Therefore new mechanisms to keep up antitrust law in Russia are ...
Added: October 8, 2016
Рынок труда: учебник для академического бакалавриата
Korneychuk B. V., М.: Юрайт, 2016.
Рассмотрены факторы спроса на труд и предложения труда, описаны модели рынка труда с профсоюзами, асимметричной информацией и дискриминацией, модели внутреннего рынка труда, модели миграции и воспроизводства трудовых ресурсов, изложены теории занятости, рассмотрены принципы и методы регулирования занятости. Особое внимание уделено роли человеческого капитала и институциональным аспектам функционирования рынка труда. Соответствует актуальным требованиям ФГОС высшего образования. Для студентов ...
Added: June 23, 2016
Микроэкономика: учебник и практикум для академического бакалавриата
Korneychuk B. V., М.: Юрайт, 2016.
Учебник содержит изложение традиционного курса микроэкономики: теорию спроса и предложения, теорию поведения потребителя, теорию фирмы, теорию ресурсных рынков, теорию общего равновесия, теорию общественных благ, теорию общественного выбора. Подробно рассмотрены проблемы ценовой дискриминации, несовершенной конкуренции и асимметрии информации. К каждой главе приведен список основных терминов и понятий, контрольные вопросы и задания, имеется глоссарий. ...
Added: June 21, 2016
Regulation of Initial Public Offerings ( IPO ) in Russian Private Law: An Overview
Galkova E., , in: Interdisciplinary Studies of Comparative and Private International LawVol. II.: Wien: Jan Sramek Verlag, 2011. P. 43–63.
This article will provide an overview of the legal regulation of Initial Public Offerings under Russian securities laws. I will focus on six major issues. First, there will be a discussion of the definition and goals of IPO. Then I will move on to the structure of IPO under the Russian securities laws. Further, I’ll talk about the underwriting ...
Added: December 11, 2015
  • About
  • About
  • Key Figures & Facts
  • Sustainability at HSE University
  • Faculties & Departments
  • International Partnerships
  • Faculty & Staff
  • HSE Buildings
  • HSE University for Persons with Disabilities
  • Public Enquiries
  • Studies
  • Admissions
  • Programme Catalogue
  • Undergraduate
  • Graduate
  • Exchange Programmes
  • Summer University
  • Summer Schools
  • Semester in Moscow
  • Business Internship
  • Research
  • International Laboratories
  • Research Centres
  • Research Projects
  • Monitoring Studies
  • Conferences & Seminars
  • Academic Jobs
  • Yasin (April) International Academic Conference on Economic and Social Development
  • Media & Resources
  • Publications by staff
  • HSE Journals
  • Publishing House
  • iq.hse.ru: commentary by HSE experts
  • Library
  • Economic & Social Data Archive
  • Video
  • HSE Repository of Socio-Economic Information
  • HSE1993–2026
  • Contacts
  • Copyright
  • Privacy Policy
  • Site Map
Edit