{"id":"https://openalex.org/W7172024940","doi":"https://doi.org/10.52957/2221-3260-2026-5-159-175","title":"The contribution of initial public offerings to the growth of capitalization of the Russian stock market","display_name":"The contribution of initial public offerings to the growth of capitalization of the Russian stock market","publication_year":2026,"publication_date":"2026-05-30","ids":{"openalex":"https://openalex.org/W7172024940","doi":"https://doi.org/10.52957/2221-3260-2026-5-159-175"},"language":"en","primary_location":{"id":"doi:10.52957/2221-3260-2026-5-159-175","doi":"https://doi.org/10.52957/2221-3260-2026-5-159-175","is_oa":true,"landing_page_url":"https://doi.org/10.52957/2221-3260-2026-5-159-175","pdf_url":null,"source":{"id":"https://openalex.org/S4210200241","display_name":"Theoretical economics","issn_l":"2221-3260","issn":["2221-3260"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":["russia-white-list-2"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Theoretical economics","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://doi.org/10.52957/2221-3260-2026-5-159-175","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5028609244","display_name":"Sergey A. Perekhod","orcid":"https://orcid.org/0000-0002-4606-1226","observed_orcids":["https://orcid.org/0000-0002-4606-1226"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Sergey Perehod","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-4606-1226","affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5144092716","display_name":"Matvey Minibaev","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Matvey Minibaev","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5144097428","display_name":"Anastasiya Kamardina","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Anastasiya Kamardina","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":{"value":0.0,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"0","issue":"5","first_page":"159","last_page":"175"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.3813000023365021,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.3813000023365021,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.323199987411499,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.14900000393390656,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/initial-public-offerings","display_name":"initial public offerings","score":1.0},{"id":"https://openalex.org/keywords/russian-stock-market","display_name":"Russian stock market","score":0.8040000200271606},{"id":"https://openalex.org/keywords/secondary-offerings","display_name":"secondary offerings","score":0.8510000109672546},{"id":"https://openalex.org/keywords/stock-issuance","display_name":"share issuance","score":0.7979999780654907},{"id":"https://openalex.org/keywords/stock-exchange-listing","display_name":"stock market listing","score":0.5410000085830688},{"id":"https://openalex.org/keywords/equity-financing","display_name":"equity financing","score":0.49900001287460327},{"id":"https://openalex.org/keywords/brics-stock-markets","display_name":"BRICS stock markets","score":0.6200000047683716}],"concepts":[{"id":"https://openalex.org/C12559387","wikidata":"https://www.wikidata.org/wiki/Q185142","display_name":"Initial public offering","level":2,"score":0.9244999885559082},{"id":"https://openalex.org/C193445137","wikidata":"https://www.wikidata.org/wiki/Q471719","display_name":"Market capitalization","level":4,"score":0.7702999711036682},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.6796000003814697},{"id":"https://openalex.org/C2779137862","wikidata":"https://www.wikidata.org/wiki/Q425951","display_name":"Capitalization","level":2,"score":0.6442999839782715},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5454999804496765},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5120000243186951},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.4717000126838684},{"id":"https://openalex.org/C102177615","wikidata":"https://www.wikidata.org/wiki/Q1627483","display_name":"Public offering","level":3,"score":0.4553000032901764},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4316999912261963},{"id":"https://openalex.org/C2776012548","wikidata":"https://www.wikidata.org/wiki/Q4769689","display_name":"Annual growth %","level":2,"score":0.4104999899864197},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.40630000829696655},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.39500001072883606},{"id":"https://openalex.org/C90994476","wikidata":"https://www.wikidata.org/wiki/Q486901","display_name":"Secondary market","level":3,"score":0.3634999990463257},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.3463999927043915},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.33230000734329224},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.32910001277923584},{"id":"https://openalex.org/C182306322","wikidata":"https://www.wikidata.org/wiki/Q1779371","display_name":"Order (exchange)","level":2,"score":0.32010000944137573},{"id":"https://openalex.org/C2778253041","wikidata":"https://www.wikidata.org/wiki/Q699735","display_name":"Annual report","level":2,"score":0.310699999332428},{"id":"https://openalex.org/C206913280","wikidata":"https://www.wikidata.org/wiki/Q1349203","display_name":"Primary market","level":4,"score":0.30809998512268066},{"id":"https://openalex.org/C28761237","wikidata":"https://www.wikidata.org/wiki/Q7805321","display_name":"Time horizon","level":2,"score":0.3075999915599823},{"id":"https://openalex.org/C2777382242","wikidata":"https://www.wikidata.org/wiki/Q6017816","display_name":"Index (typography)","level":2,"score":0.30570000410079956},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.29899999499320984},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.2676999866962433},{"id":"https://openalex.org/C88389905","wikidata":"https://www.wikidata.org/wiki/Q223371","display_name":"Stock market index","level":4,"score":0.26750001311302185},{"id":"https://openalex.org/C206757995","wikidata":"https://www.wikidata.org/wiki/Q1665188","display_name":"Institutional investor","level":3,"score":0.25690001249313354},{"id":"https://openalex.org/C178283979","wikidata":"https://www.wikidata.org/wiki/Q274490","display_name":"Public finance","level":2,"score":0.2565000057220459},{"id":"https://openalex.org/C159176650","wikidata":"https://www.wikidata.org/wiki/Q43261","display_name":"Horizon","level":2,"score":0.25619998574256897},{"id":"https://openalex.org/C143910263","wikidata":"https://www.wikidata.org/wiki/Q750458","display_name":"Capital market","level":2,"score":0.2549000084400177}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.52957/2221-3260-2026-5-159-175","doi":"https://doi.org/10.52957/2221-3260-2026-5-159-175","is_oa":true,"landing_page_url":"https://doi.org/10.52957/2221-3260-2026-5-159-175","pdf_url":null,"source":{"id":"https://openalex.org/S4210200241","display_name":"Theoretical economics","issn_l":"2221-3260","issn":["2221-3260"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":["russia-white-list-2"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Theoretical economics","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.52957/2221-3260-2026-5-159-175","doi":"https://doi.org/10.52957/2221-3260-2026-5-159-175","is_oa":true,"landing_page_url":"https://doi.org/10.52957/2221-3260-2026-5-159-175","pdf_url":null,"source":{"id":"https://openalex.org/S4210200241","display_name":"Theoretical economics","issn_l":"2221-3260","issn":["2221-3260"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":["russia-white-list-2"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Theoretical economics","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":13,"referenced_works":["https://openalex.org/W1503017248","https://openalex.org/W3168912904","https://openalex.org/W4211041469","https://openalex.org/W4293174430","https://openalex.org/W4323659969","https://openalex.org/W4379797968","https://openalex.org/W4395675477","https://openalex.org/W4405631716","https://openalex.org/W4414057719","https://openalex.org/W4415567965","https://openalex.org/W4416275335","https://openalex.org/W4416417388","https://openalex.org/W7127959227"],"related_works":["https://openalex.org/W7204451026","https://openalex.org/W4405631716","https://openalex.org/W7165256537","https://openalex.org/W2905827203","https://openalex.org/W4395675477","https://openalex.org/W2017133725","https://openalex.org/W4411498885","https://openalex.org/W30487585","https://openalex.org/W7220861564","https://openalex.org/W7111788116"],"abstract_inverted_index":{"Initial":[0],"public":[1,223],"offerings":[2],"remain":[3],"an":[4,277],"important":[5],"but":[6,126,246,274],"still":[7],"insufficiently":[8],"measured":[9],"channel":[10],"of":[11,21,26,51,72,95,117,169,271,279],"stock-market":[12,76],"expansion":[13],"in":[14,78,123,180,201],"Russia,":[15],"especially":[16],"after":[17],"the":[18,24,49,70,115,127,174,184,237,251,262,280],"institutional":[19],"break":[20],"2022":[22],"and":[23,80,85,98,101,105,133,149,177,191,197,225,235,288],"shift":[25],"investor":[27],"demand":[28],"toward":[29],"domestic":[30],"capital.":[31],"The":[32,88,109,159,214],"research":[33],"gap":[34],"is":[35,112],"that":[36,162,200,239],"Russian":[37,75,263],"studies":[38],"usually":[39],"focus":[40],"on":[41,131,138],"individual":[42],"deals":[43],"or":[44,155],"short-run":[45],"price":[46],"effects,":[47],"while":[48],"contribution":[50,71],"equity":[52,227],"issuance":[53,205],"to":[54,74,120,151,167,178,211,260,284],"aggregate":[55],"market-capitalisation":[56,171],"growth":[57,122,172,181,286],"over":[58,173],"a":[59,139,202,207,269],"long":[60],"horizon":[61],"has":[62],"been":[63],"assessed":[64],"only":[65,244,267],"fragmentarily.":[66],"This":[67],"study":[68],"measures":[69],"IPOs":[73,104],"capitalisation":[77,157,241,272],"2002\u20132025":[79],"compares":[81],"it":[82,258],"with":[83,153],"secondary":[84],"follow-on":[86],"offerings.":[87],"dataset":[89],"combines":[90],"Moscow":[91],"Exchange":[92],"statistics,":[93],"Bank":[94],"Russia":[96],"data,":[97],"academic":[99],"sources":[100],"covers":[102],"108":[103],"65":[106],"SPO/FPO":[107,188],"deals.":[108],"annual":[110,121,144],"coefficient":[111],"defined":[113],"as":[114,268,276],"ratio":[116],"offering":[118],"volume":[119,165],"market":[124,212,240,248,265],"capitalisation,":[125],"substantive":[128],"conclusions":[129],"rely":[130],"weighted":[132],"robust":[134],"indicators":[135],"rather":[136],"than":[137],"simple":[140],"arithmetic":[141],"average,":[142],"because":[143],"ratios":[145],"are":[146,189,195,216],"highly":[147],"asymmetric":[148],"sensitive":[150],"years":[152],"low":[154],"negative":[156],"growth.":[158],"results":[160],"show":[161],"total":[163],"IPO":[164,264],"corresponds":[166],"10.69%":[168],"net":[170],"full":[175],"period":[176],"1.95%":[179],"phases":[182],"only;":[183],"corresponding":[185],"estimates":[186],"for":[187,218],"6.26%":[190],"0.77%.":[192],"Median":[193],"values":[194],"0.27%":[196],"0.00%,":[198],"indicating":[199],"typical":[203],"year":[204],"plays":[206],"limited":[208],"role":[209],"relative":[210],"revaluation.":[213,249],"findings":[215],"relevant":[217],"policies":[219],"aimed":[220],"at":[221],"stimulating":[222],"listings":[224],"expanding":[226],"finance.":[228],"Limitations":[229],"stem":[230],"from":[231,236],"changing":[232],"disclosure":[233],"practices":[234],"fact":[238],"reflects":[242],"not":[243,266],"issuance,":[245],"also":[247,275],"In":[250],"broader":[252],"BRICS":[253],"comparative":[254],"context,":[255],"this":[256],"makes":[257],"possible":[259],"interpret":[261],"source":[270],"growth,":[273],"indicator":[278],"financial":[281],"system\u2019s":[282],"capacity":[283],"fund":[285],"firms":[287],"technological":[289],"upgrading.":[290]},"counts_by_year":[],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2026-08-01T00:00:00"}