Article2002

The relationship between IPO returns and factors influencing IPO performance: case of Istanbul Stock Exchange

87 citations0/0 files storedManagerial Finance

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Financial Markets and Investment Strategies Corporate Finance and Governance Financial Analysis and Corporate Governance

Abstract

Reviews previous research on initial public offering (IPO) pricing and performance, classifying it by six hypotheses which are not mutually exclusive. Uses 1990‐1997 data on IPOs on the Istanbul Stock Exchange to test these hypohteses, explains the methodology and presents the results, which show initial abnormal returns (realized by investors), but no long run underperformance of the market. Analyses the factors affecting short and long run IPO returns, considers consistency with other research and supports the winner’s curse and the fads hypotheses. Concludes that initial abnormal returns are due to both deliberate underpricing and overvaluation by investors’ and that factors which decrease uncertainty lead to lower returns.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 87 citations exist upstream.

References

1991The Long‐Run Performance of initial Public Offerings 1986Why new issues are underpriced 1986Investment banking, reputation, and the underpricing of initial public offerings 1990Initial Public Offerings and Underwriter Reputation 1989Signalling by underpricing in the IPO market 1989Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings 1988INITIAL PUBLIC OFFERINGS 1991Entrepreneurship Theory and Practice

Cited by

2019Are IPOs underpriced or overpriced? Evidence from an emerging market 2007Initial performance of Greek IPOs, underwriter's reputation and oversubscription 2019Predicting IPO initial returns using random forest 2018Towards Economic Corporate Sustainability in Reporting: What Does Earnings Management around Equity Offerings Mean for Long-Term Performance?2021Financial performance index of IPO firms using VIKOR-CRITIC techniques 2019Review of Theoretical Explanations of IPO Underpricing

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.