Zróżnicowanie prognozowanych informacji finansowych zawartych w prospektach emisyjnych spółek przeprowadzających pierwsze oferty publiczne na GPW w Warszawie
Differentiation of the Financial Information Forecasts Issued in Prospectuses of the Companies Conducting IPO on the Warsaw Stock Exchange

Summary/Abstract: This paper aims at recognition of the scope and accuracy of financial forecasts published in the prospectuses of companies conducting IPO on the Warsaw Stock Exchange between 2006 and 2016. Using the sample of 214 companies we answer two questions: 1) what kind of financial projections companies decide to disclosure in their IPO prospectuses? 2) what is the level of accuracy of financial predictions included in prospectuses? The results show that companies most often choose to provide investors with information on projected sales revenue, net profit, EBIT and EBITDA. Moreover, the sales projections are usually more accurate than forecasts prepared for other financial categories.

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