Abstract
Public offerings are among the financial instruments that companies use to meet their financing needs. While the most important feature of the public offering for companies is to provide financing, investors also seek to earn returns. For this reason, the performance of the stocks after they are offered to the public gains importance for investors. In the study, the short and long-term performance of 126 companies that went public in the BIST between 2010 and 2019 was analyzed through event analysis, and it was determined that investors could provide abnormal returns by directing their investments to public offerings on the first trading day. In addition, it has been concluded that it is more advantageous to buy publicly offered shares at the public offering date than later.
Keywords
References
- AKKILIÇ, M. E., YILDIRIM, H. H. (2017). "The Effect of Optimum Pricing For The Initial Public Offerings On The Return of Stocks: Evidence From Istanbul Stock Exchange for 2014-2016", Journal Of Economics Finance And Accounting, 4(1), 37-47.
- AKTAŞ, R., KARAN, M. B. ve AYDOĞAN, K. (2003). "Forecasting Short Run Performance Of Initial Public Offerings İn The Istanbul Stock Exchange", 1–26.
- AGATHEE, U.S., SANNASSEE, R.V. ve BROOKS, C. (2014). "The Long Run Performance Of Ipos: The Case Of The Stock Exchange Of Mauritius", Financial Economics, 2014: 1123-1145.
Abstract
Şirketler finansman ihtiyaçlarını karşılamak için kullandıkları finansal enstrümanların arasında halka arzlar yer almaktadır. Halka arzın şirketler açısından en önemli özelliği finansman sağlanması olurken yatırımcılar da getiri elde etme amacını gütmektedir. Bu sebeple hisse senetlerinin halka arz edildikten sonraki performansları yatırımcılar açısından önem kazanmaktadır. Çalışmada 2010-2019 tarihleri arasında BİST’te halka arzı gerçekleşen 126 şirketin kısa ve uzun dönem performansı olay analizi ile incelenmiş, yatırımcıların ilk işlem günü yatırımlarını halka arzlara yönlendirerek anormal getiriler sağlayabileceği tespit edilmiştir. Ayrıca halka arz edilen hisseleri halka arz tarihinde almanın, daha sonra almaktan avantajlı olduğu sonucuna varılmıştır.
Keywords
References
- AKKILIÇ, M. E., YILDIRIM, H. H. (2017). "The Effect of Optimum Pricing For The Initial Public Offerings On The Return of Stocks: Evidence From Istanbul Stock Exchange for 2014-2016", Journal Of Economics Finance And Accounting, 4(1), 37-47.
- AKTAŞ, R., KARAN, M. B. ve AYDOĞAN, K. (2003). "Forecasting Short Run Performance Of Initial Public Offerings İn The Istanbul Stock Exchange", 1–26.
- AGATHEE, U.S., SANNASSEE, R.V. ve BROOKS, C. (2014). "The Long Run Performance Of Ipos: The Case Of The Stock Exchange Of Mauritius", Financial Economics, 2014: 1123-1145.
Details
| Primary Language | Turkish |
|---|---|
| Subjects | Finance |
| Journal Section | Makaleler |
| Authors | |
| Publication Date | September 30, 2021 |
| Acceptance Date | September 1, 2021 |
| Published in Issue | Year 2021 Volume: 5 Issue: 3 |
