ISE Finance Award Series

Date

2000-01-01

Author

Güner, Zehra Nuray
Danışoğlu, Seza

Metadata

Show full item record

Item Usage Stats

187
views

0
downloads

This study examines the effect of underwriter reputation on the initial-day IPO returns in an emergingmarket. It uses both a traditional and an extended model given the characteristics of the IPO market underanalysis. The results from the traditional model indicate that underwriter reputation does not affect theinitial day IPO returns. However, after controlling for factors that are important in determining the price ofan IPO in an emerging market, a complex relationship between underwriter reputation measures and IPOreturns is documented. Results in this paper indicate that it is not appropriate to extend the findings in theUS to other markets without taking into account the unique characteristics of these markets.

URI

https://hdl.handle.net/11511/72741

Collections

Unverified, Book / Book chapter

Suggestions

OpenMETU
Core

Underwriter Reputation and Short Run IPO Returns Evidence from an Emerging Market Danışoğlu, Seza; Güner, Zehra Nuray (null; 2000-09-01) This study examines the effect of underwriter reputation on the initial-day IPO returns in an emerging market. It uses both a traditional and an extended model given the characteristics of the IPO market under analysis. The results from the traditional model indicate that underwriter reputation does not affect the initial day IPO returns. However, after controlling for factors that are important in determining the price of an IPO in an emerging market, a complex relationship between underwriter reputation m...
Bank Reputation and IPO Underpricing Evidence from the Istanbul stock exchange Danışoğlu, Seza; Güner, Zehra Nuray (null; 2013-09-21) This study examines the effect of underwriter reputation on the initial-day and long-term IPO returns in an emerging market. It uses both traditional and extended models given the characteristics of the IPO market under analysis. The results from the traditional model indicate that underwriter reputation has a significant and positive affect on the initial day IPO returns. After controlling for factors that are important in determining the price of an IPO in an emerging market, a complex relationship betwee...
Macroeconomic announcements and intraday stock market volatility Yılmaz, Berna Nisa; Danışoğlu, Seza; Department of Financial Mathematics (2017) This study examines the effects of interest and inflation rate announcements on stock market volatility by using a standard event study methodology. The BIST-30 Index volatility is modelled and forecasted by the multiplicative component GARCH model. This is one of the first studies where the announcement effects are analyzed on the basis of volatility forecasts produced by the multiplicative component GARCH. The announcement effects are observed clearly with the advantage of using high-frequency data. While...
Time-Varying Linkage between Equities and Oil Ordu Akkaya, Beyza Mina; Oran, Adil; Soytaş, Uğur (World Scientific Publishing, 2020-01-01) This study examines the correlation structures between oil futures, the S&P 500 and US sectoral indices, using the Asymmetric DCC method. The results indicate that these correlations display time-varying and asymmetric characteristics. The potential effects of variousfactors, including copper and gold prices, dollar/euro exchange rate, T-bill rate and financial stress index on these dynamic correlations are also investigated. The dynamic links betweenoil and stock returns weaken in response to shocks in all...
Affect-based stock investment decision: The role of affective self-affinity Usul, Naime; Özdemir, Özlem; Kiessling, Timothy (Elsevier BV, 2017-6) This paper studies the role of affective self-affinity for a company in the stock investment decision by investigating the factors triggering it. Based on the social identity theory and the affect literature we hypothesize that three types of identifications, namely group related, company-people related and idea ideal related, trigger affective self-affinity for a company which results in extra affect-based motivation to invest in the company's stock. The two ideas included in the idea/ideal related affecti...

Citation Formats

Z. N. Güner and S. Danışoğlu, ISE Finance Award Series. 2000.