Year of Graduation
Motivation of the institutional investors in exotic assets (case of Qiwi Plc.)
Faculty of Management
The main goal of the research project was to identify the factors which motivate institutional investors operating on the foreign exchanges to the purchase and the subsequent retention for the period of more than six months, shares of Russian technology companies, based on the company Qiwi Plc. To achieve the objectives of the study, the following tasks were accomplished:- The specificity of the stock exchange NASDAQ, where the company's shares are traded Qiwi Plc., was determined, as well as its players;- Long-term holders of shares of the Company were revealed;- The analysis of the profiles of institutional investors Qiwi Plc. was performed;- On the basis of interviews with experts, research hypotheses were highlighted;- The factors that motivate investors to buy, using the results of the assessment by investors of rating scales, were presented;- Comparing the estimates from investors, conclusions were formulated.In this paper, study was based on Qiwi Plc., and resulted in the identification of the factors that motivate institutional investors to buy and hold exotic asset. The work is based on the works of the leading Russian and foreign scientists, published in periodicals, data analysis agencies, open public statements NASDAQ stock exchange and investment funds, marketing research results and data obtained through interviews with investment companies, as well as an assessment of the proposed investment funds of the rating scale.The main findings of the work include the following:1) Specificity NASDAQ exchange is that it only has a limited number of Russian companies, in particular of industry technology and innovation, that is why the choice in assets for investments is limited;2) The Company Qiwi Plc. is an ultra-exotic asset because of its uniqueness on a specified stock market, as well as a significant level of risk caused by the fact that the company operates in the emerging market;3) Factors that do not motivate institutional investors to purchase cases of exotic assets are dividends, the ability to manage the company and minimal risk investments;4) The main motives of institutional investors are the country of origin of the company and previous experience of a particular investment fund with this country, the company’s industry and the leadership on the choosen market, as well as the prospects for growth, and honesty in public statements and projections of the company.Summing up, the results of the research attempt to reveal the real factors of the successful IPO of the Russian companies by explaining the reasons of the institutional investors for buying exotic assets. Results of the study may be particularly useful for the management of the company Qiwi Plc. in the preparation of an investment strategy.