Why Do Companies Stay Private? Determinants for IPO Candidates to Consider in Poland and the Czech Republic

@article{Meluzn2018WhyDC,
  title={Why Do Companies Stay Private? Determinants for IPO Candidates to Consider in Poland and the Czech Republic},
  author={Tom{\'a}{\vs} Meluz{\'i}n and Marek Zinecker and Adam P. Balcerzak and Michał Bernard Pietrzak},
  journal={Eastern European Economics},
  year={2018},
  volume={56},
  pages={471 - 503}
}
We surveyed sixty-five chief financial officers (CFOs) at nonpublic and nonfinancial companies in the Czech Republic and Poland that are considered candidates for an initial public offering (IPO) to document their propensity to decline to launch an IPO and maintain private ownership. First, we found that the main arguments against launching an IPO in both countries involve information disclosure and limitations on decision-making control. Surprisingly, the majority of the managers do not see… 
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