OS MÉRITOS DE ENTRAR EM UM JOGO PERDIDO: MOTIVAÇÕES POR TRÁS DO REGISTRO DE UM IPO ESTRANGEIRO IMPROVÁVEL
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Resumo
Este estudo aborda a temática das motivações por trás da busca por IPOs estrangeiros com baixa probabilidade de sucesso. O objetivo principal é entender as razões que motivam empresas a optarem por iniciar processos de IPO que aparentam ser infrutíferos. A metodologia empregada consiste em um estudo de caso detalhado, analisando dados de uma empresa que registrou e posteriormente retirou seu pedido de IPO. Esta análise inclui a avaliação do momento de mercado e a documentação relacionada ao processo. Os resultados revelam que, embora conscientes da baixa probabilidade de sucesso na listagem, os gestores investiram minimamente no processo de IPO, utilizando-o estrategicamente para melhorar a posição de mercado da empresa. Isso foi alcançado através da aquisição de outras empresas, contratação de executivos de alto nível, aprimoramento da governança corporativa, alteração de práticas internas e expansão da base de clientes. Concluímos que essas ações foram primariamente impulsionadas pela teoria do sinal, com o objetivo de capitalizar as melhorias percebidas no valor de mercado associadas ao processo de IPO. O estudo apresenta novas proposições teóricas que podem abrir novos caminhos para pesquisas futuras sobre comportamento corporativo em envolvimentos com IPO.
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Este trabalho está licenciado sob uma licença Creative Commons Attribution 4.0 International License.
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Esta obra está licenciada sob uma licença Creative Commons Atribuição 4.0 Internacional.
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