Abstract:

(The Determinants of Underpricing on Initial Public Offerings: Evidence of Turkey) There are various factors affecting underpricing of initial public offers. The aim of this study is to investigate the factors affecting the underpricing of the initial public offers in the ISE for the period of 1993-2005 and to determine their effects on underpricing. For this purpose, firstly, it is indicated the factors causing underpricing by reviewing of related studies in literature. Afterwards, the effects of these factors are analyzed by multiple linear regression for initial public offers in ISE. According to the results, it is concluded that underwriting and the selling method affect the underpricing of initial public offers

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