Post-COVID IPOs: the role of the cryptic effect in the decision-making of Cameroonian business managers regarding the BVMAC (Revue Française d'Economie et de Gestion)

Summary

• The empirical study examines the determinants of initial public offering intentions using a sample of 180 Cameroonian non-listed companies.p.13
• Family businesses constitute 62.7% of the surveyed enterprise sample, while 71% of company leaders are male and 51% are between 35 and 50 years old.p.16
• Only 31.7% of respondents indicate a good or very good understanding of BVMAC market operations, whereas 44.1% possess only superficial knowledge.p.16
• Major obstacles listed by leaders include fear of losing control (92.8%), loss of information confidentiality (90.7%), and high IPO costs (88.6%).p.19
• The PLS-SEM structural equation model accounts for 57% of the variance in managers' intention to complete an IPO (R2 = 0.57).p.20

Key insights

1. Post-COVID economic uncertainty exerts a significant negative effect on IPO willingness with a coefficient of -0.88 (t = 2.87, p < 0.01).p.20
2. The overall perception score of the BVMAC as a financing instrument stands low at an average of 2.28 on a 5-point Likert scale.p.16
3. Trust in financial market regulation scored the lowest among perception dimensions at an average of 1.89.p.16