Bank Reputation and IPO Underpricing Evidence from the Istanbul stock exchange

Date

2013-09-21

Author

Danışoğlu, Seza
Güner, Zehra Nuray

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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 between underwriter reputation measures and IPO returns is documented. Results in this paper indicate that it is not appropriate to extend the findings in developed markets to emerging markets without taking into account the unique characteristics of the latter

URI

https://hdl.handle.net/11511/84787
http://www.aidea2013.it/docs/365_aidea2013_banking-and-finance.pdf

Conference Name

AIDEA Bicentenary Conference 2013 (19 - 21 Eylül 2013)

Collections

Department of Business Administration, Conference / Seminar

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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...
ISE Finance Award Series Güner, Zehra Nuray; Danışoğlu, Seza (2000-01-01) 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 relat...
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Citation Formats

S. Danışoğlu and Z. N. Güner, “Bank Reputation and IPO Underpricing Evidence from the Istanbul stock exchange,” presented at the AIDEA Bicentenary Conference 2013 (19 - 21 Eylül 2013), Lecce, İtalya, 2013, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/84787.