Workshop "Exit Strategies for Private Investors in Russian Companies: Initial Public Offer or Merger and Acquisition?" will take place at the Graduate School of Management of St. Petersburg University on December 20. Professor Elena Rogova, Deputy Head of the Department of Finance and Accounting at GSOM SPbU will present an analysis of factors determining investors' choice.

"Our study is focused on Russian companies because the country's financial market and merger and acquisition market haven't been formed yet and change frequently, — Elena Rogova told. — Apart from that, a lot of similar studies based on the data of developed markets have been published, but the Russian market hasn't received much attention. At the same time, we consider that the country's legal system, institutional conditions, entrepreneurship culture and other features have a significant influence on investors' activities".

Two ways of entering the capital market have been analyzed: via initial public offering of shares and by selling the company to another strategic investor (merger and acquisition transaction). The decision determines future development of an enterprise at the stage of its rapid growth and concerns all groups of investors, management and personnel of the company. Find details on how to participate in the workshop here.