Establishing Reputation on the Warsaw Stock Exchange
| dc.contributor.author | Standifird, Stephen Scott | |
| dc.date.accessioned | 2024-02-14T19:42:38Z | |
| dc.date.available | 2024-02-14T19:42:38Z | |
| dc.date.issued | 1999-08 | |
| dc.description | 136 pages | en_US |
| dc.description.abstract | During 1989, East Central Europe witnessed one of the most remarkable transformations in socio-political history. The economic transformation that followed represents one the most remarkable economic transitions in modern history. In Poland, the Warsaw Stock Exchange has greatly facilitated the transition from a centrally controlled to a market-based economy. Still, the general youthfulness of the Warsaw Stock Exchange erodes the ability of individual firms traded on the exchange to establish a positive reputation with investors. This dissertation investigates how firms traded on the Warsaw Stock Exchange establish reputation with investors despite the youthfulness of the exchange. To address this topic, a general model of organizational reputation formation is developed. The model presented suggests that the individual firm can establish itself as reputable through the mechanisms of performance, signaling and legitimation. The general model is used to develop specific hypotheses concerning how firms traded on the Warsaw Stock Exchange establish reputation with investors. Two separate analyses are conducted to test the hypotheses. The first analysis looks at all firms traded on the Warsaw Stock Exchange as of the end of 1996 while the second analysis looks specifically at the reputation of firms immediately following the issuing of new shares. The results provide mixed support for the hypotheses. However, the results suggest an important role for financial performance, ownership structure and the use of international brokers during the issuing of new shares, each relating to the mechanisms of performance, signaling and legitimation, respectively. Thus, each of the mechanisms identified in the general model of organizational reputation formation appears to have some influence in shaping the reputation of the firm. | en_US |
| dc.identifier.uri | https://hdl.handle.net/1794/29254 | |
| dc.language.iso | en | en_US |
| dc.publisher | University of Oregon | en_US |
| dc.rights | Creative Commons BY-NC-ND 4.0-US | en_US |
| dc.subject | The Polish Capital Market | en_US |
| dc.subject | Organizational legitimacy | en_US |
| dc.subject | The process of legitimation | en_US |
| dc.subject | Business strategy | en_US |
| dc.subject | International management | en_US |
| dc.title | Establishing Reputation on the Warsaw Stock Exchange | en_US |
| dc.type | Thesis / Dissertation | en_US |