Financing policies of Croatian publicly listed firms
Mihaela Seba Grubisic
Croatia is a typical bank-based transition economy whose capital market has been primarily used for secondary trading purposes since its re-establishment in 1990s. Except for a couple of exceptions, public offers of shares and corporate bonds have been rather rate. Private offerings of shares and short-term debt have been more frequent. However, due to secondary debt market illiquidity, the debt issues are signed up and either held until maturity or renewal, or they are traded exclusively between the institutional investors. This paper provides evidence from the field on financing preferences of Croatian public companies regarding seasoned equity and corporate debt issuance. It questiones why public offerings of corporate securities in non-financial sector after initial, mostly mandatory shares’ listing have been rare and whether making decisions on securities’ offers depend on other financial instruments’ sufficiency, costs of issunace or previous experience of companies in collecting funds in the capital market.
Year of publication: |
2013
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Authors: | Seba Grubisic, Mihaela |
Published in: |
UTMS journal of economics / University of Tourism and Management : international, multidisciplinary journal for the area of south and southeastern Europe. - Skopje : [Verlag nicht ermittelbar], ISSN 1857-6982, ZDB-ID 2616961-7. - Vol. 4.2013, 2, p. 127-141
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Subject: | corporate financing preferences | publicly listed companies | CFOs’ survey | Croatian capital market | non-financial sector | bank-based financial system. | Aktiengesellschaft | Listed company | Kroatien | Croatia | Unternehmensfinanzierung | Corporate finance | Finanzmarkt | Financial market | Finanzsektor | Financial sector | Bank | Betriebliche Finanzwirtschaft | Managerial finance |
Saved in:
freely available
Extent: | graph. Darst. |
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Type of publication: | Article |
Type of publication (narrower categories): | Aufsatz in Zeitschrift ; Article in journal |
Language: | English |
Notes: | Systemvoraussetung: Acrobat Reader |
Other identifiers: | hdl:10419/105329 [Handle] |
Classification: | G1 - General Financial Markets |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10009787010
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