Özet:

Companies’ increased search for different financing options rendered initial public offerings of the company shares focally important. In line with the rising interest in IPOs, measuring the IPO performance of stocks and determining the factors affecting post-IPO performance gained importance in literature. This study aims to determine the factors that affected the IPO returns in excess of the Borsa İstanbul index return in the 189 public offerings that took place in Borsa Istanbul between 2000-2015. The factors that are analyzed for the short and mid-term stock performance include the IPO method, intermadiation method, IPO timing and the market where stocks would be traded after IPO. As for short-term performance measurement, abnormal returns on the first and fifth days after the public offering are considered, while for medium-term performance measurement, abnormal returns in the first month and first year are considered. It’s determined in the study that there is no relationship between IPO method and short and mid-term IPO performance. Also, it has been determined that intermediation method, public offering timing and post-public offering markets do not have any effect on abnormal returns on stock performance in the short and medium term.

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