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The Performance of IPOS in Istanbul Stock Exchange in Year 2000 = 2000 Yılında İstanbul Menkul Kıymetler Borsasın'da Halka İlk Arzı Yapılan Hisse Senetlerinin Performansı

Author(s): Suat TEKER | Ömer EKİT

Journal: Dogus University Journal
ISSN 1302-6739

Volume: 4;
Issue: 1;
Start page: 117;
Date: 2003;
Original page

Keywords: Halka ilk arz | Düşük fiyatlama | Normal üstü getiri | Olay-çalışması | Initial public offering | Underpricing | Abnormal return | Event-study

Initial public offering (IPO) may be the lowest cost financing for firms to obtain funds from small and institutional investors. The commissions, fees and other related expenses incurred are considerably small compared to those of short or long term loan or bond financing. This empirical study examines the performance of all IPOs in Istanbul Stock Exchange during the year of 2000. The study employs standard event study methodology for 34 IPOs over a 30 day event window. The empirical findings are consistent with most of the previous literature. The results support that the first two days of IPOs generally provide positive abnormal returns.

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