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Mandatory shares listing effect on further capital raising in the Croatian capital market from 2002–2010

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  • Mihaela Grubišić Šeba

Abstract

This article investigates regulatory impact on decisions of companies to go public and raise capital in the Croatian capital market. It questions the regulatory decision of mandatory shares listing, brought in 2002, whose aim was to encourage companies of certain size of shareholders’ equity to enter the capital market. The effect of mandatory shares listing on further capital raising in public by companies has been analysed by means of secondary data and survey-based answers of their chief financial officers. Financing policies of voluntarily and mandatorily listed firms were compared for statistical differences. The research results have shown that mandatory listing of shares in the capital market has not spurred public companies to issue securities and raise funds in the capital market thereafter.

Suggested Citation

  • Mihaela Grubišić Šeba, 2015. "Mandatory shares listing effect on further capital raising in the Croatian capital market from 2002–2010," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 28(1), pages 1079-1095, January.
    • Handle: RePEc:taf:reroxx:v:28:y:2015:i:1:p:1079-1095
    DOI: 10.1080/15021149.2015.1092704
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