Acta Univ. Agric. Silvic. Mendelianae Brun. 2015, 63(1), 193-200 | DOI: 10.11118/actaun201563010193

Decision-making on Implementation of IPO Under Topological Uncertainty

Karel Doubravský1, Tomáš Meluzín2, Mirko Dohnal2
1 Department of Informatics, Faculty of Business and Management, Brno University of Technology, Kolejní 2906/4, 612 00 Brno, Czech Republic
2 Department of Economics, Faculty of Business and Management, Brno University of Technology, Kolejní 2906/4, 612 00 Brno, Czech Republic

IPO (Initial Public Offering) is a complex decision making task which is always associated with different types of uncertainty. Poor accuracies of available probabilities of lotteries e.g. quantification of investor interest is studied in the first part of this paper (Meluzín, Doubravský, Dohnal, 2012). However, IPO is often prohibitively ill-known. This paper takes into consideration the fact that decision makers cannot specify the structure/topology of the relevant decision tree. It means that one IPO task is specified by several (partially) different decision trees which comes from different sources e.g. from different teams of decision makers/experts. A flexible integration of those trees is based on fuzzy logic using the reconciliation (Meluzín, Doubravský, Dohnal, 2012). The developed algorithm is demonstrated by a case study which is presented in details. The IPO case integrates two partially different decision trees.

Keywords: IPO, decision-making, uncertainty, linear programming, fuzzy logic
Grants and funding:

This paper was supported by grant FP-S-13-2148 'The Application of ICT and Mathematical Methods in Business Management' of the Internal Grant Agency at Brno University of Technology. The paper is supported by the Czech Science Foundation. Name of the Project: IPO Strategy - Specific Approaches in the CEE Region. Registration No. 13-38047S.

Prepublished online: March 14, 2015; Published: April 1, 2015  Show citation

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Doubravský, K., Meluzín, T., & Dohnal, M. (2015). Decision-making on Implementation of IPO Under Topological Uncertainty. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 63(1), 193-200. doi: 10.11118/actaun201563010193
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