Turkish IPOs in a changing regulatory and economic environment
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Date
2022
Authors
Tanyeri, Basak
Ozturkkal, Belma
Tirtiroglu, Dogan
Journal Title
Journal ISSN
Volume Title
Publisher
Elsevier
Open Access Color
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Abstract
The larger underpricing (15 percent) in the early years following the inauguration of Borsa Istanbul indicates the importance of investors, intermediaries, and firm insiders learning about the trading and pricing of firms in organized stock markets. The underpricing in recent years (from 2010 to 2020) averages 5 percent. Micro-level uncertainties about the firm as evidenced by the smaller underpricing in IPOs marketed using fixed offer prices, and the IPOs where underwriters signed on for firm commitment also prove important. Underpricing also proves smaller in larger IPO firms.& nbsp;Copyright (C)& nbsp;2021, Borsa Istanbul Anonim Sirketi. Production and hosting by Elsevier B.V.& nbsp;
Description
Keywords
IPO underpricing, Developing markets, Regulation, Turkish capital markets
Turkish CoHE Thesis Center URL
Fields of Science
Citation
1
WoS Q
Q1
Scopus Q
Q1
Source
Borsa Istanbul Review
Volume
22
Issue
2
Start Page
332
End Page
340